Friday, April 3, 2015

Buyer-centricity = donor-centric fundraising

Is charity fundraising totally different from commercial marketing? 

The key main difference is that donors do not get to experience the product, like they would after purchasing it from a commercial brand. People who gave to charity derive the most satisfaction from the act of giving and then possibly when they receive a thank-you letter and a report, reassuring that their donation was put to a good cause. 

Most of the promise relies on emotional connection. Therefore, wouldn’t charities be masters of establishing and nurturing emotional connections? Nevertheless it is still a challenge for many NGOs to develop donor journeys that have relevant and personal content.

At the same time businesses tackle the same issue by investing into an effective content marketing, which focuses on what customer wants. According to P&G CMO Jim Stengel, brands that focus on connecting with their consumers on an emotional level have a growth rate triple that of their competitors. 

NewsCred agency quotes Erin Provey, Service Director at SiriusDecisions, who follows customer-centricity by observing these three rules:

1) Isolate the audience. Simply make the conscious decision to choose a buyer.
2) Really get to know them.
3) Understand the environment in which they’re operating.

 “Buyer-centricity is a philosophy. Buyer-specificity is a best practice.” – Erin Provey.

Donor-centricity has became a buzzword at all the fundraising conferences. Therefore, the challenge is the same for both sectors and I am positive that we can learn from each other. 

No comments:

Post a Comment