2014 npd there’s gold in them thar hills: applying for-profit thinking to boost sponsorship and...
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There’s Gold in Them Thar Hills: Applying for-profit thinking to boost sponsorship and other revenue sources Marjorie French Greylock Associates, LLC "There’s Gold in Them Thar Hills" Applying for-profit thinking to boost sponsorship and other revenue sources Marjorie French - Greylock Associates, LLC Funding and revenue growth are time-consuming and require precious administrative resources. Thieving and doctoring for-profit business practices can mine financial rewards for nonprofits. As COO of a nonprofit membership organization, Margie French co-led a doubling of revenue in a five-year period. Some of the key factors that contributed to this growth were thinking of potential sponsors as B2B customers, understanding the “food chain” of sponsorship, and pricing trade-off analyses. In this session, Margie will discuss how ROI decision making, historical event analyses and other tools of for-profits can increase revenue and capacity so organizations can increase mission impact. Learning Objectives/Takeaways: To demonstrate to nonprofit managers that by analyzing, customizing and institutionalizing the tools of for-profits they can generate incremental income. LEARNING OBJECTIVES/TAKEAWAYS: ␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣␣ income.TRANSCRIPT
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There’s gold in them thar hills!Applying for-profit thinking to boost sponsorship and other revenue sources.
NATIONAL PHILANTHROPY DAY CONFERENCE
November 7, 2014
Greylock Associates NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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The Case for For-Profit Thinking
The Case for For-Profit Thinking NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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The Case for For-Profit Thinking NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
“We have two rulebooks. We have one for the nonprofit sector and one for the rest of the economic world. It's an apartheid, and it discriminates against the [nonprofit] sector…”
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“We have two rulebooks. We have one for the nonprofit sector and one for the rest of the economic world. It's an apartheid, and it discriminates against the [nonprofit] sector…”
“…we've all been taught that charities should spend as little as possible on overhead things like fundraising under the theory that, well, the less money you spend on fundraising, the more money there is available for the cause…”
Dan Palotta, TED Talk, February 2013
The Case for For-Profit Thinking NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Nonprofit Starvation Cycle
“…nonprofits feel pressure to conform to funders’ unrealistic expectations…[and] nonprofits respond to this pressure in two ways: They spend too little on overhead, and they underreport their expenditures on tax forms and in fundraising materials. This underspending and underreporting in turn perpetuates funders’ unrealistic expectations. Over time, funders expect grantees to do more and more with less and less—a cycle that slowly starves nonprofits.”
Ann Goggins Gregory & Don HowardStamford Social Innovation ReviewFall 2009
The Case for For-Profit Thinking NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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NFP staffs are pressed for time and often lack functional experience.
“There is just not enough time to do the things I know we should we doing.”
The Case for For-Profit Thinking NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Exigencies highjack strategic priorities. Non-profits executives face the challenge of how to grow.
“We need more people and resources.”
The Case for For-Profit Thinking NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Have you ever heard anyone in the business world say, “We should be thinking like a nonprofit?”
The Case for For-Profit Thinking NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Thinking like a for-profit can powerfully impact the bottom line and the ability of an organization to deliver its mission.
The Case for For-Profit Thinking NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Thinking like a for-profit can powerfully impact the bottom line and the ability of an organization to deliver its mission.
Increased Nonprofit Capacity: The business art of making more out of existing resources so organizations can increase their mission impact.
The Case for For-Profit Thinking NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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A Case Study in Increasing Nonprofit Capacity: COSMETIC EXECUTIVE WOMEN
Three Pillars People: Achiever AwardsProduct: Beauty AwardsPhilanthropy: Holiday Luncheon and Auction
The Case for For-Profit Thinking NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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A Case Study in Increasing Nonprofit Capacity: COSMETIC EXECUTIVE WOMEN
In five years: Over a three-fold increase in members and dues revenue
Sponsorship income grew to nearly 50% of all revenue and sponsor retention increased from 50% to 66%
Revenue and staff doubled
The Case for For-Profit Thinking NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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A Case Study in Increasing Nonprofit Capacity: COSMETIC EXECUTIVE WOMEN
CEW applied for-profit tools and processes
… in growing membership
… in branding
… in attracting and retaining sponsors
… in planning events
… in uniting employees in common goals
The Case for For-Profit Thinking NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Growing Membership Tools
Competitive Analyses
Consumer Research
Growing Membership NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Businesses compete for share of market. Nonprofits compete for the hearts, the minds and the pocketbooks of donors and funders.
Growing Membership NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Tool: Competitive Analysis
Growing Membership NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
CEWFragrance
Foundation FGI NYWICI AWNY
Mission Professional
development Innovation
Preeminent
authority
Women
empowerment
Women
empowerment
Members 1,300 N/A 5,000 3,500 1,700
Dues $125 N/A $175 $150 $100
Initiation Fees N/A N/A 75 50 N/A
Corporate Dues N/A based on $ sales N/A $1200 for ten N/A
Networking Events N/A Foundation TalksTastemaker
Series
Coffee and
Conversations
Accredited
Master Classes
Job Bank N/A N/A Free PostingsPassword
protectedFree Postings
Mentoring N/A N/A N/A Coaching N/A
Other benefitsPrinted
DirectoryN/A Trends Reports
Discounted city
benefits: spas,
zipcars, etc.
Special Interest
Groups
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Competitive Analyses: Business Intelligence for Decision MakingIdentify new funders.
Learn how to integrate social media into marketing and fund development.
Compare Missions and branding.
Thieve and doctor innovative fundraising event concepts.
“There is no such thing as a new idea” –Mark Twain
Growing Membership NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Nonprofits should think of the constituents it serves as consumers and reach as many ‘consumers’ as possible with the ‘product’ that delivers the greatest impact.
Growing Membership NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Tool: “Consumer” Research(CEW Career Cycle)
Growing Membership NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
Senior women
wanted to give back
Mid-level managers wanted to learn from senior women on how to get to the next step
Young Professionals wanted to meet women in other companies and build
their own networks
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Consumer Research: Challenging Conventional WisdomWe think we know our “consumers.”
Capture the “blink”.
Step away from the mirror.
Data trumps gut.
Uncover misperceptions.
Distinguish your brand.
Growing Membership NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Rebranding
Rebranding NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Rebranding NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Rebranding NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Rebranding NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Rebranding NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Rebranding NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Rebranding NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Rebranding NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Rebranding NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Growing SponsorshipTools
The Quid Pro Quo of Sponsorship
The Sponsorship Food Chain
Expand the Portfolio of Sponsorship Opportunities
Your Board
Pro bono Sponsorships
A Good Customer Experience
Growing Sponsorship NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Tool: The Quid Pro Quo of SponsorshipSponsors are business-to-business customers making purchase decisions. Companies sponsor or partner with causes that most efficiently achieve business goals.
Growing Sponsorship NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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CEW Sponsorship Benefits
Growing Sponsorship NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
Offer “Advertising impressions”4,000+ professional women in the beauty industry
1,000+ guests including industry leaders
High Frequency: Logo in invites, programs, on website
24/7 Business Resource Guide
One-on-one access to decision makersVIP receptions
Photos with VIPs
Strategic seating
Sponsor Dinner
Incentive to sample sponsorshipIntroductions to the board—no obligation caveat
Incentives to increase sponsorship
A position on the board
A seat on the dais
Speaking role
Larger logo/higher placement
More prominent table
Increased visibilityCategory Exclusivity
Continuous sponsorship reel
Goodie bags
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Growing Sponsorship NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
Sponsors Beauty Executives Retailers Beauty Junkies
$$ $$ $$
Tool: Sponsorship Food Chain, or Following the Money Trail
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Tool: Expand the Portfolio of Sponsorship Opportunities
Growing Sponsorship NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
CEW on-event sponsorship
Online “Beauty Insider” Newsletter
Job Bank
Member Directory
Website
Attracted sponsors from
Companies with smaller budgets
Companies impacted by exclusivity
New categories of companies; i.e. recruiters
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Tool: Your Board
Influential Capital. Intellectual Capital. Financial Capital.
CEW board members made an annual commitment of $10K. The key was in the packaging.
From the board member or her company
• Cash… or in-kind
New sponsor
• Cash… or in-kind
Contribution to CEW or to Cancer and Careers (501)(c)(3)
• One or multiple year grants
• Personal or corporate gift
Growing Sponsorship NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Tool: Pro Bono Sponsorship
A Quid Pro Quo: You save OOP expenses/They get visibility
Remnant space in trade magazines or local newspapers
Video production
Program printing
Public Relations for Cancer and Careers
Consulting Services
Growing Sponsorship NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Tool: A Good Customer Experience
Axiom: It costs much less to retain a sponsor than to acquire a new one.
Sponsorship retention is an ongoing activity.
• Sweat the small stuff
• Make sponsors the priority
• Network on their behalf
• Informal one-on-ones with “the powers that be”
• Thank you Sponsor Dinner
• Right of first refusal
• Fulfillment Reports. Fulfillment Reports. Fulfillment Reports.
Growing Sponsorship NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Optimizing Events Tools
A Great Customer Experience
Pricing Trade-off Analyses
Strategic Pricing
ROI Decision Making
Optimizing Events NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Tool: A Good Customer ExperienceA great event generates buzz, increases attendance and sponsorship and creates a memorable and lasting impression of your brand. Bottom line: More Income.
It’s a captive audience. Innovate. Inspire.
• New venue, new format, new award, new honoree.
• Choreograph to the objective.
• Be single-minded: “Its the economy, stupid”
• Short powerful video “stories”.
Flawless Execution Counts (and you can serve chicken).
• Registration, check-in, name tags.
• Start on time. End on time.
Optimizing Events NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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Tool: Pricing Trade-off Analysis
Optimizing Events NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
Ticket Price $34,500 Revenue
$150 230 276 $41,400
$145 238 276 $40,020
$140 246 276 $38,640
$135 256 276 $37,260
$130 265 276 $35,880
$125 276 276 $34,500
Tickets Sold
+20%
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Tool: Strategic PricingGoal: Maximize per seat margin
Optimizing Events NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
Table Traditional Movie Popcorn Real Estate
Platinum $10,000 $10,000 $9,500
Gold $7,500 $8,500 $8,500
Silver $5,000 $7,000 $6,975
Bronze $2,500 $5,000 $4,999
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Tool: ROI Decision MakingLike businesses, think bottom line
Optimizing Events NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
Silent Live Online Fund A Need
Funds Raised 20,000 25,000 35,000 25,000
ExpensesAuctioneer 2,850 2,850 Catalog 1,400
Supplies 500 Hosting 5,250
Total Expenses 1,900 2,850 5,250 2,850
Fundraising less Expenses 18,100 22,150 29,750 22,150
Auction Type
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Tool: ROI Decision MakingIncluding efficient use of limited staff
Optimizing Events NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
Silent Live Online Fund A Need
Funds Raised 20,000 25,000 35,000 25,000
ExpensesAuctioneer 2,850 2,850 Catalog 1,400
Supplies 500 Hosting 5,250
Total Expenses 1,900 2,850 5,250 2,850
Fundraising less Expenses 18,100 22,150 29,750 22,150
Staff Hours 160 114 240 40
at $45/hour 7,200 5,130 10,800 1,800
Net Income 10,900 17,020 18,950 20,350
as a % of fundraising 55% 68% 54% 81%
Auction Type
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Thank you.
QUESTIONS?
Greylock Associates NATIONAL PHILANTHROPY DAY CONFERENCE November 7, 2014
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