by Stephen Reed | Industry - Nonprofit, News, NonProfit
According to a recent study, smaller nonprofits are largely missing opportunities to share their message online. While budgeting is certainly an issue, the benefits of online marketing and an online presence for nonprofits can’t be overstated. Below is a quick guide to various means of digital marketing and why they’re vital for nonprofit organizations.
Email Marketing for Nonprofits
Looking to increase newsletter subscribers, launch a fundraising campaign, keep supporters and volunteers in the know, or share recent developments? Email is one of the most effective, direct, and inexpensive ways to accomplish all this and more. The key is to capture your reader with engaging content, both in words and images, and always end your emails with a call to action, inviting the reader to reach out to your organization. Consider someone on staff who has the writing chops to accomplish this task, or think about hiring a freelance writer. Aim for sending two-four emails a month.
Your Website
In addition to having a website that is straightforward and easy to navigate, you want it to function as a tool that maximizes lead generation and gift revenue in ways that email can’t. For instance, adding pop-ups to your site can help gain newsletter subscriptions as well as collect contact information for potential donors.
Social Media
Establishing a presence on social media and engaging with your audience on individual platforms are no-brainer ways to share your organization’s purpose, campaign materials, involvement in the community, etc. A social media manager on staff could prove to be invaluable. Be sure to add social sharing buttons to your website and emails in order to grow an organic following. Greater outreach equals donations.
Donation Pages
The key with donation pages is simplicity, so cut the lengthy information and instructions. You want to encourage two main actions with your donation page:
- Give donors a clear path to give to your organization
- Make sharing the page with friends, family members, and social media networks easy
You will also want to include a recurring donation option for those who prefer to contribute smaller amounts on a monthly basis. This donation approach can be beneficial to both the donor and your organization because:
- Donors aren’t likely to notice or take issue with a recurring $5 or $10 out of their monthly budget for a cause they’re drawn to, but your organization will appreciate these monthly contributions as every dollar adds up.
- Recurring donations create long-term connections between supporters and your organization.
Content
If your organization can establish a position of having a finger on the pulse of current news, knowledge, and facts surrounding its particular cause, donors who share an interest with your cause are going to want to support you, and feel confident doing so. In order to achieve this, you will want to create regular and quality content in the form of informative articles, fact sheets, and other applicable digital resources, all of which convey not just that your organization is a top source of information about your particular cause, but how it’s impacting and changing your community and even beyond.
Gratitude for Supporters
Organizations that recognize the patronage and loyalty of their supporters are more likely to receive follow-up donations and social media mentions than those that fail to acknowledge their supporters, or do so intermittently. This fix can be as simple as creating an automated but personal email response to each donor, professing thanks and gratitude on behalf of the organization.
Generating more organic traffic and engagement on your website and across social media platforms will set your organization on a path for long-term growth and success.
by Pete McAllister | Business Consulting, News, Tax, Tax Planning
Most small businesses have limited financial resources, so managing funds wisely and intentionally is crucial to the success of the business. Below are ways in which your small business may be throwing away money that could be needed elsewhere.
Having Overheads that Exceed Profit
It might be common sense, but if you’re not making enough profit to cover your expenses, trouble is on the horizon. Even entrepreneurs can be financially-challenged, so it might be worth it to enlist the help of an accounting professional. Additionally, you should identify the most profitable aspects of your business as well as the ones that are draining resources, and make adjustments however needed.
Staffing Issues
Consider whether your full-time staff is absolutely needed. Could some positions be just as effective in part-time, seasonal, or freelance roles? Too, make sure you’re tapping into your employees’ full potentials. Get to know their interests and individual areas of expertise in order to increase productivity, propel your business forward, and offer new ways to motivate employees to take a vested interest in the success of your business.
Advertising and Marketing Expenses
As a small business owner, you likely don’t have money to waste on untargeted marketing or costly advertising campaigns. Your best bet is probably content marketing, a.k.a. blogging on your website. Brush up on SEO – or tap into the unidentified skills of your employees – to make sure your posts are keyword-optimized and pop up in search engines. Not a writer? Again, tap into the skillset of your employees, or hire a freelance writer. Lastly, think about finding someone to manage your company’s social media accounts and Google ad campaigns.
Trade Shows and Conferences
Though they’re a great way to network while promoting your products or services, they’re often expensive. When funds are tight it’s wise to be choosy about which ones you attend. If one or two specific trade shows or conferences have proven to produce sales and benefit business, just concentrate on having a presence at those venues and forgo the ones that might not be worth the cost.
The Latest Technology
In most instances you really don’t need the latest and greatest that technology has to offer. For example, if you buy a sophisticated software program that requires outsourced labor at a significant cost just to maintain simple records, you might want to rethink whether such a costly program is worth it. Cloud-based services are available to small businesses at low to no cost.
Weak Expense Tracking
If your love as an entrepreneur is building new products, or networking and finding new clients, tracking expenses is likely something that falls on the back burner. Finding a detail-oriented and trustworthy employee to handle this task will benefit your company’s bottom line – and free you up to focus on your strengths. And on your employees’ end, if they know someone is keeping tabs on their spending, they’re likely to be more frugal with company expenses.
Credit Cards and Insurance
Routinely keeping credit card balances in check might seem like a menial housekeeping task, but with interest rates almost always greater than 20 percent, failing to pay your credit cards in full each month is a costly mistake for a small business. Likewise, be sure you’re getting the lowest possible insurance rate for your company to avoid excessive costs. You might also benefit from an independent insurance agent who can go to bat for you when you’re hit with a claim.
by Pete McAllister | Business Consulting, Business Entity Selection, IRS, News, Tax, Tax Consulting, Tax Planning
With the overwhelming amount of pressure and decisions to make when starting a small business, stress can cause even savvy industry gurus to fall for common startup mistakes. In the best scenarios, mistakes will set you back a bit, but in worst-case scenarios, they can hurt your potential and outlook for long-term success. Below are common startup mistakes that can have a negative impact on your small business.
Miscalculating Startup Costs
The perils of starting a business with an insufficient budget, or an underestimated one, can be a shot in the foot before you even get running. Plan to have at least six months’ worth of income in the bank before officially cutting the ribbon to open your business. This will give you some time to get up and going, garner some clients, and generate invoices and payment.
Neglecting to create a marketing strategy
Most new businesses are going to have to put some brain power and cash behind a good marketing plan, and this should be done well in advance of turning on the lights for customers and clients. These plans should include online, offline, social media, and any other means of marketing to get the word out. Will marketing and social media be outsourced, will you handle it personally, or will you bring someone on board to solely handle this task?
Failing to be frugal
Whether through a bank loan, a generous loan from a relative, sales of your own assets, or years of saving your own money, you’re going to have some capital to spend on rent, equipment, products, employees, etc. Keep in mind that profits won’t roll in overnight. Spend your savings wisely, do your research, and make your money stretch.
Thinking you can be a one-man operation
Even if you’re a one-man or one-woman business in the beginning, you’ll need people in your corner. You’ll inevitably want to shoot around ideas with someone; you may need someone, even on a very part-time basis, just to handle invoices and office files; you’ll want feedback, advice, and even potential contacts. Consider if it makes sense for your business to create a board of advisors.
