|
MARKETING CONCEPTS THAT EVERYONE UNDERSTANDS! by Illene RoggensackJuly 2002
E-mail seems to be the major source of 21st century wisdom, and
sometimes it offers tidbits like the following definition of marketing terms
(particularly for the singles out there!)… I have lately spent a lot of time thinking about the “Marketing Mix” and how it applies to those of us who raise funds for charitable causes. It is an interesting concept…looking at our DONORS through the eyes of a pure marketing model: Publics – Who are our prospects? Do we know them? What do we know about their needs? Are we customizing our marketing efforts based on this information? It is vital to good marketing people that they know their prospects, or “customers,” and virtually impossible to be effective fund raisers without making this effort. Product – What is the REAL product our donors are buying from us (oftentimes it’s NOT the work we do – instead, it’s recognition, prestige, being part of something bigger, etc.)? Accurate identification of the product and how it meets customer/donor needs is integral to effective marketing in the nonprofit context. Price – What is the price that we are asking for the product – i.e. what will the donor have to give up to buy our product? Is the price reasonable and saleable? Particularly in a competitive marketplace, pricing is a key consideration to successful product sales; likewise in fund raising. Promotion – How do we go about letting our donors know of our product? Are we frequent and consistent in these communications? This tends to be the part of the marketing process that many nonprofits best understand, although its effective implementation over time is a genuine challenge for most organizations. Placement – How do potential donors access our product? Does our distribution system make it easy for them to ‘buy?’ While nonprofits often think of “access” issues as regard client and program services, it also is important to review the ease of access afforded to our potential donors. Production – What is our ability to meet production demand – i.e. if we look at the REAL product that our donors are buying, are we able to deliver recognition, prestige, etc.? A typical marketing problem is for the sales force to oversell the organization’s ability to deliver the product/service in a timely manner, leading to disappointed customers…a scenario that must be avoided as we raise funds for our organizations. If you are interested in learning more about how these concepts can benefit your organization, contact Third Sector Innovations for information on training, marketing research, marketing planning and related tools.
|
|
|
Third Sector Innovations |
|
