Successful private companies know how to market well — and that means using psychology. Many companies now tell consumers they can “do good” by buying their stuff. They often have better stewardship than most charities. And they keep their messaging simple. T0 “compete,” nonprofits need to up their game, follow the same formula, and focus on marketing and branding.
Nonprofits face increasing competition from the private sector rather than from other nonprofits. We’ll cover this shift over two posts. This post, Part 1, covers the growing prominence of Donor Advised Funds (DAFs), which are capturing a significant share of charitable donations. While overall donations are rising, the donor base is shrinking, with fewer individuals contributing larger amounts primarily through DAF accounts. Over the past five years, DAF assets have more than doubled, now accounting for a quarter of all charitable donations. What does that mean for your nonprofit? Read on to find out.
GIVING Magazine
For those who drive change — not watch it. Join the top 1%.