Nonprofits always have worthwhile missions and heartfelt causes but they don’t necessarily approach their brand presence with the same commitment that businesses do. It’s important for nonprofits to take a page out of the business book to attract large donors. Many of the donors with deep pockets amassed their fortunes in the for-profit world – and they expect a certain level of professionalism. Here are a few lessons you can learn from business:
Be Transparent and Accountable
Businesses that seek investors are an open book. You can learn about the individuals that run the organization, their total sales, their growth strategy…etc. Your donors expect the same amount of visibility. They want to know everything about your organization before they “invest” in your mission. Make it easy for them to see the breakdown of how their money is spent and you will find that people are more willing to open their checkbook.
Track and Measure Results
We are all good at saying how many people we have served or how long we have been active in the community but that is only the beginning of the story. Big donors want to know if your efforts are effective over the long term. If, for example, you help people with low incomes secure mortgages, how long are they staying in those homes and making timely payments? How have their lives changed five years after you helped them? It’s
important to let donors know that you are making a lasting impact on the community.
Professionalize your Marketing and Development Efforts
Marketing is an easy thing to cut when funding dips and you’re worried about keeping programs intact. Remember that without marketing and development, your funding will continue to drop. Businesses always invest in some level of marketing and nonprofits should as well. There are many firms that offer outsourced marketing if you don’t have internal resources available. Whether you outsource or keep it in-house, be sure to make it happen.
Have a Web-based Presence
Believe it or not, many nonprofits do not have a website. If you are one of them, it is essential that you get one up as soon as possible. There are many user-friendly templates and affordable options available online that make set up a snap. It’s the first place most donors go to research your organization and your cause.
If you already have a website, keep it updated with upcoming events and current programs. An out of date site can seem like a lack of commitment to a potential donor.
Actively Promote your Brand
Even if you already have all of these pieces in place, be sure to do a self evaluation every few months. How easy is it for donors to find you? Is your brand messaging clear and easy to understand? Can they easily determine who you are, what you do and why they should be a part of your cause? If not, think about how a business approaches their branding and update your approach accordingly. The donors will find you once you do.