It’s becoming less easy to draw a line distinguishing the marketing efforts of For Profit (FP) companies with Not For Profit (NFP) companies. With accelerating consumer expectations and more affordable marketing technology, many NFP’s are adopting more mature FP tactics and talent to enhance their fundraising efforts. And the rise of cause based marketing has FP’s considering grassroots engagement tactics and tools well known in the NFP space. This 5 minute read will describe how NFP’s differ from FP’s in business model, mission, and maturity, and the valuable lessons available to help address existing business challenges. Don’t think the lack of profit motive means not for profits aren’t big business. According to the Urban Institute , donations approached $430 billion in 2018. That said, its hard to generalize about the sector given the diversity of organizations and models. based on 2018 figures, growth in fundraising and expenses were uneven across not for profit types and si
Got data? Of course you do. In today’s digital platform enabled world of marketing the challenge is often not what data you have but can and how you use it. With each new tool, custom field, and data warehouse, companies expand functionality but can also reduce their ability to deliver personalized engagement from a single view of the customer. Why is this important? According to Gartner, companies spend close to 30% of their total marketing budget on digital tools meant to deliver personalized communication at scale. While these tools generate, analyze and store rich data elements, the task of integrating the data to be stored and retrieved becomes increasingly complex. This creates several challenges including siloes, conflicts, costs, and compliance. Why is this so hard? Escalating needs : As companies grow and elevate their level of maturity , they often find the need to centralize data from diverse platforms to realize the personalization function