When it comes to fundraising and marketing, your nonprofit needs to maximize its revenue in order to fund its important work. Aside from inspiring donors to give more, you must cultivate deeper relationships with them to show your appreciation and strengthen the community surrounding your organization.
Donor stewardship allows you to do both! In this guide, we’ll explore how you can cultivate major gifts through effective stewardship by covering the following topics:
What is donor stewardship?
How to steward donors
Donor stewardship tools
Donor stewardship is not just a fundraising strategy, but an important part of building the community that defines your nonprofit. That’s why you’ll need a thorough understanding of stewardship before you can develop a plan of action.
What is donor stewardship?
Donor stewardship is the process of building relationships with donors after they make a gift to your nonprofit. By strengthening these relationships, you’ll help donors feel a sense of loyalty to your organization, increasing the likelihood that they’ll give again—and sometimes in larger quantities!
Effective donor stewardship can help your nonprofit in many ways, but it also benefits the donor. Building a relationship with donors and encouraging a response initiates reciprocal communication, through which both your organization and your donor benefit from stewardship.
How to steward donors
Understanding the benefits of donor stewardship should incline you to take action. Use the following stewardship strategies to start cultivating major gifts.
1. Thank the donor for their gift.
Not only should you thank donors for their contributions, but you must thank them as quickly as you can. As a result, supporters will associate giving with the positive feeling of being appreciated, and this sets the foundation of your stewardship campaign. Once a donor feels recognized the moment they contribute time, money, or other resources to your nonprofit, you’re poised to continue this stewardship.
Email:CharityEngine’s nonprofit donations guide recommends leaning on email as the foundation of your fundraising strategy, and that includes following up with thank-you emails!
Events: Donor appreciation events are like a grand gesture of gratitude and can double as stewardship opportunities when you offer additional ways to give at the event.
eCards: Make thank-you messages fun with exciting animations and branded designs on digital greeting cards. For example, Youth for Understanding (YFU) created the following digital card to celebrate its 70th anniversary and express gratitude for those who have donated.
Timely appreciation and personalized outreach are the key to donor stewardship. The more you can learn about your donors, the easier it is to develop genuine relationships with them and encourage greater giving. For example, understanding why a donor gives to your organization can provide valuable insights that will help your stewardship efforts.
2. Research and segment your donors.
To send messages and plan stewardship activities that resonate with donors, you’ll first need an understanding of their ability and motivation to give. Research your supporters and append any existing data to gain a comprehensive view of their involvement with your organization. Some key questions to ask include:
Where do they live? Local supporters may be available for in-person stewardship activities, such as volunteer opportunities, facility tours, or a luncheon with your board members. Supporters who live farther away may be more responsive to virtual events or consistent communications.
Why do they donate? Knowing why a donor gives can indicate what would motivate them to increase that gift. For example, if they donate in honor of a loved one, you might ask them to make a larger tribute gift on special days.
What is the frequency of their giving? Recurring donors may be promising candidates for major gifts. In addition to pursuing them as major donors, guide other supporters through the giving levels by asking one-time donors for another gift and occasional donors for a monthly commitment.
What are their communication preferences? Donors are more likely to increase their gift size when you ask through the communication channels they frequently use. For example, send an email newsletter about the importance of major gifts to the group that prefers to receive messages this way.
This information can be used in your marketing efforts, too, when creating social media posts or crafting email newsletters. For example, you may learn that your college-aged donors tend to use Instagram daily. If these individuals are young, unemployed college students, they may be more receptive to a crowdfunding campaign rather than major giving.
3. Create a stewardship matrix.
Equipped with information about your donors, you’re ready to create a specific plan for donor stewardship. Double the Donation’s donor stewardship guide recommends organizing this information in a stewardship matrix, which is an outline of the method and cadence your nonprofit will use when reaching out to donors.
Following this matrix ensures that you’re engaging your supporters throughout the donor journey. Consistent communication will keep your nonprofit at the top of a supporter’s mind and keep your mission relevant when it’s time to choose where to give.
Donor stewardship tools
Now that you have a donor stewardship plan, you’re likely ready to jump in and start fundraising! However, you’ll need the right tools to execute this plan and ensure your fundraising succeeds.
Major gifts features help you identify opportunities and track their progress.
Email automation will make it easy to communicate regularly with donors.
Robust reporting and analytics will help you segment your donors according to any filters you want.
Optimized online forms can help increase conversions.
Your stewardship efforts are more valuable when you have technology that records and tracks all engagement with your nonprofit. With a close view of your donors and their activities, you can quickly discern whether or not your stewardship efforts are working. If not, you’ll have the data to see where you’re falling short, and you can quickly pivot to keep those donors engaged.
https://nxunite.com/wp-content/uploads/2024/03/CharityEngine_NXUnite_Donor-Stewardship-Tips-for-Cultivating-Major-Gifts_Feature.png7841676wpenginehttps://nxunite.com/wp-content/uploads/2023/09/NXUnite-by-nexus-marketing-White-3.svgwpengine2024-03-18 14:41:322024-03-18 14:41:33Donor Stewardship: Tips for Cultivating Major Gifts
In today’s dynamic landscape, associations play a key role in facilitating networking opportunities, promoting professional development, and providing resources for their members. However, with increasing demands and expectations, simply offering membership benefits is no longer sufficient.
To build a thriving membership program, your association must evolve and find innovative ways to engage members continuously. Learning management software (LMS) emerges as a powerful tool that not only streamlines administrative tasks but also enhances member experiences through personalized learning opportunities.
In this guide, we’ll discuss five impactful ways to leverage this technology. First, let’s take a closer look at what an LMS is.
What is learning management software?
Learning management software is a digital platform designed to streamline the creation, delivery, and management of educational content and training programs. An LMS provides a central hub where organizations can host, track, and organize various learning activities, such as webinars, courses, and assessments.
For associations, an LMS simplifies the process of offering high-value learning opportunities to members in several ways:
Centralization: An LMS serves as a centralized repository for all learning materials, making it easy for associations to organize and manage educational content.
Accessibility: Members can access learning resources anytime, anywhere, providing flexibility and convenience in their learning journey.
Customization: LMS platforms often offer customization options, allowing you to tailor learning experiences to meet specific member needs and preferences.
Tracking and reporting: An LMS provides tracking and reporting features, enabling you to monitor member engagement, track progress, and assess the effectiveness of your learning initiatives.
Integration: Many LMS platforms integrate seamlessly with other association management software and content creation tools, streamlining administrative tasks and ensuring a cohesive member experience.
An LMS empowers you to deliver high-value learning opportunities that are accessible, engaging, and tailored to the needs of members. Ultimately, it allows you to drive member satisfaction, retention, and organizational success.
How to Leverage Learning Management Software
Equipped with an LMS, your association can deepen member engagement in the following ways:
1. Host a variety of educational events.
Chances are, your association already uses event software to organize events catering to members’ interests. Many LMS solutions have event capabilities so you can organize all sorts of educational opportunities for members.
Some popular types of events your association can virtually host using an LMS include:
Webinars: These online seminars involve presentations, workshops, or panel discussions on various topics of interest. Webinars provide flexibility for members to participate from anywhere, fostering accessibility and engagement.
Q&A sessions: Interactive question-and-answer sessions provide members with the chance to engage directly with subject matter experts or industry leaders. These sessions promote dialogue, knowledge sharing, and networking among participants.
Training workshops: Virtual training sessions offer members the opportunity to develop specific skills or knowledge in a structured environment. Workshops can cover a range of subjects, from technical skills to leadership development.
Networking sessions: Virtual networking events facilitated by an LMS create opportunities for members to connect, collaborate, and build relationships within your association community. Whether through breakout rooms, discussion forums, or virtual meet-and-greets, networking sessions foster camaraderie and professional connections.
When deciding which types of events to prioritize, it’s essential to consider members’ specific interests, preferences, and learning needs. By understanding their goals and aspirations, you can tailor your event offerings to deliver maximum value and engagement.
2. Offer certification programs.
Certification programs offer significant value for association members, providing tangible credentials and recognition of expertise within their respective fields. With an LMS, your association can:
Additionally, certification programs not only serve as catalysts for individual professional growth but also elevate the reputation and credibility of your association. As members pursue and achieve certifications, they become advocates and ambassadors, further strengthening your community and influence.
3. Provide an exclusive resource library.
A comprehensive resource library is a cornerstone of member engagement, offering a wealth of valuable content that fosters continuous learning and professional development. Your association can use an LMS to build a website with gated, members-only resources tailored to their unique needs and interests.
For example, you might share content such as:
Industry reports
Case studies
Expert interviews
Templates
Take a strategic approach to content development and curation, ensuring that the library stays up-to-date, relevant, and aligned with industry trends and challenges. Regular updates keep members engaged and interested in exploring new resources.
Furthermore, your association can explore creative ways to monetize the resource library by offering access to non-members for a fee. This not only generates additional revenue but also extends your influence and provides valuable learning opportunities to a broader audience.
As members engage with your resource library, they gain valuable knowledge, insights, and practical tools that enrich their professional journey. This fosters a culture of continuous learning and knowledge sharing, strengthening the bond between your association and its members and promoting long-term engagement and satisfaction.
4. Nurture a learning community.
Building a vibrant and supportive community lies at the core of every successful association. Leveraging an LMS, you can cultivate a dynamic learning community that fosters collaboration, connection, and shared growth among members.
Several ways to promote a sense of community with an LMS include:
Building leaderboards. Leaderboards showcase members’ achievements and progress, fostering healthy competition and motivating participation in learning activities.
Awarding digital badges. Digital badges serve as tangible recognition of accomplishments, encouraging members to strive for excellence and engage actively in your association’s educational offerings.
Creating discussion forums. Discussion forums provide a space for members to interact, share insights, seek advice, and collaborate on projects. This facilitates peer-to-peer learning and knowledge exchange.
As members engage with one another and actively participate in your association’s learning opportunities, they not only acquire knowledge and skills but also forge meaningful connections and relationships. This sense of belonging and camaraderie enhances the overall member experience, driving loyalty, satisfaction, and long-term engagement.
5. Create tailored learning opportunities.
Remember that one size does not fit all, which means your association should embrace personalized learning approaches to cater to diverse member needs and preferences. By integrating your LMS with your membership management software and leveraging data analytics, you can gain valuable insights into member behaviors, preferences, and learning objectives.
Through targeted surveys, solicit feedback and input from members to create more tailored learning opportunities. Consider including questions such as:
What format or type of learning do you prefer most?
How relevant are our current learning opportunities to your needs?
Which topics or areas would you like us to cover more?
What improvements, if any, would you like us to make to our learning program?
By adopting a learner-centric approach and adapting offerings according to member interests, you can maximize engagement and satisfaction with your educational benefits.
Learning management software represents a game-changing technology for associations seeking to enhance member engagement and deliver high-value learning experiences. By leveraging an LMS to host diverse educational events, offer certification programs, curate an exclusive resource library, foster a vibrant learning community, and create personalized learning opportunities, you can empower members to achieve their goals and aspirations.
Moreover, by harnessing data-driven insights and member feedback, your association can iteratively refine and optimize its offerings, ensuring relevance, resonance, and impact over time.
https://nxunite.com/wp-content/uploads/2024/03/Wild-Apricot_NXUnite-5-Ways-to-Use-Learning-Management-Software-to-Engage-Members_Feature.png7401400wpenginehttps://nxunite.com/wp-content/uploads/2023/09/NXUnite-by-nexus-marketing-White-3.svgwpengine2024-03-18 07:32:592024-03-22 07:33:065 Ways to Use Learning Management Software to Engage Members
Without fundraising, nonprofits would be hard-pressed to fulfill their missions. But monetary gifts aren’t the only contributions beneficial to your nonprofit. Other donations, such as in-kind gifts, are just as useful. Accepting in-kind donations allows your nonprofit to increase support by capturing the generosity of supporters who might not be able to donate monetary funds.
To help you maximize in-kind donations for your nonprofit, this guide will cover the top strategies for streamlining your in-kind gift process. That way, you can confidently solicit and accept a variety of donations from loyal supporters.
What are in-kind donations?
According to Jitasa, in-kind donations are contributions of products or services that companies and businesses give to a nonprofit instead of a cash contribution. This includes:
Goods. These are typically physical materials or assets that nonprofits can use to enhance some aspect of their work. It’s a great way for donors to support your organization while staying sustainable by recycling their items. For example, if you plan to host an auction, you might solicit in-kind donations of auction items from supporters.
Services. This type of in-kind donation is a contribution of time and expertise to perform a service that your nonprofit would otherwise have to pay for. Donations of services are particularly useful if your nonprofit is still small and doesn’t have the extra budget to hire external professionals. For example, an individual working at a marketing agency might donate their services to design marketing materials for your upcoming fundraising event.
Volunteer time is another common yet often overlooked type of in-kind gift. As volunteer time is estimated to be worth about $32 per hour, it is an incredibly valuable type of donation for your nonprofit.
Much like with any other type of donation, it’s important to recognize donors for their generosity after an in-kind gift. Establish appreciation strategies to specifically recognize donors for their in-kind gifts.
Now that you know what in-kind donations are, let’s dive into the top strategies for streamlining the in-kind donation process for supporters.
1. Establish clear guidelines for in-kind donations.
Have you ever tried making a payment for an item or service and had trouble getting your payment to work? Your first reaction was probably frustration. You may have even decided that you didn’t need that item.
It’s a similar feeling for donors—regardless of their gift type, you need to make the process easy to ensure that they go through with their gift. In-kind donations are no exception. However, their donation process will be slightly more complicated, as donors will need to go beyond inputting their payment information.
To ensure that donors go through with their in-kind gifts, establish clear guidelines. These should include:
Type of goods and services. Be upfront about the type of in-kind donations you’ll accept. This may change depending on where you are in your fundraising cycle or your current organizational needs. For example, if you’re hoping to plan several events in the next year, you might request the services of a fundraising consultant.
Condition requirements. For goods, specifically, include any requirements you have for item condition. For instance, if you’re looking for auction items, you’ll probably be looking for new or gently-used goods. If you’re looking for lighting equipment, you may be satisfied with functional items that show some wear and tear.
Excluded in-kind gifts. If there are any common types of in-kind gifts that you specifically won’t accept, include them in your guidelines. Let’s say that you’re looking for marketing help. You may request specific services to meet your exact marketing needs, such as branding expertise or video content creation.
Donation process. For goods, establish a drop-off point where donors can leave their gifts. Or, if you have extra staff time, create a pick-up system. For services, provide guidelines as to the commitment that you’d like the donor to make, whether they need to work with you on-site or if remote is acceptable, and any other expectations you might have.
After you’ve established guidelines for in-kind donations, add them to a landing page on your nonprofit’s website. That way, supporters can easily reference this information if they’re considering making an in-kind gift.
2. Promote in-kind donations to supporters.
If you don’t inform supporters about in-kind gifts, they may not even consider making them. Properly market in-kind gifts by promoting them through multiple communication channels. That includes your:
Website
Emails
Social media posts
In your messages, focus on the benefits of in-kind donations for supporters. You might say that it’s a convenient way to recycle their items while contributing to a great cause. Or, you could say that donating services allows them to give back to the community without any financial commitment. Add a link to your in-kind donation guidelines so that viewers can easily get started with the process.
Additionally, don’t be afraid to seek out local businesses to help promote in-kind gifts or make contributions directly to your nonprofit. For instance, if you run a soup kitchen, you might ask local grocery stores to promote your request for in-kind donations of canned food. Or, you might ask the same store if they’d be willing to donate that food directly.
3. Host an in-kind donation event.
Much like regular fundraising events give supporters a structured way to make financial gifts, an event that focuses on in-kind donations streamlines the gift-giving process.
Two great ideas to consider include:
Recycling drive. With a recycling drive, you can make money with in-kind donations of recyclable materials such as metal, plastic, or textiles. Ask supporters to collect these items and donate them to you. Then, sell these items to a local recycling center and put the funds back into your mission. If you don’t have the employee time to spare, Donate This Recycle That recommends arranging for pickup with recycling centers instead.
Clothing drive. Clothing drives are flexible events that can serve many different purposes. For example, if your nonprofit’s beneficiaries are people experiencing homelessness or poverty, you may organize a clothing drive to obtain winter clothing for them. Or, you can host a clothing drive fundraiser by selling any donations back to a recycling organization.
There are a variety of other donations that can feature in-kind donations, including second-hand store events and auctions. Don’t be afraid to get creative with events, but be sure to make your donation process clear for each one.
In-kind donations allow you to leverage the generosity of supporters who might otherwise not be able to contribute to your nonprofit. With a streamlined and convenient process, you’ll be able to maximize the number of donations you receive, allowing you to push forward your mission. Be sure to properly recognize in-kind donors to encourage their continued support and secure their future financial generosity.
https://nxunite.com/wp-content/uploads/2024/03/Donate-This-Recycle-That_NXUnite_3-Strategies-to-Streamline-In-Kind-Donations-for-Supporters_Feature.jpg321846Connie Zhanghttps://nxunite.com/wp-content/uploads/2023/09/NXUnite-by-nexus-marketing-White-3.svgConnie Zhang2024-03-12 08:41:032024-03-12 08:41:053 Strategies to Streamline In-Kind Donations for Supporters
Can data analytics save lives? Many seem to think so. The Big Data Analytics healthcare industry is projected to be worth multimillion USD by 2029 as people put more faith in its potential to improve patient care, streamline operational efficiency, and contain costs.
Additionally, big data analytics solves the problem of healthcare’s formidable data volume problem, as it’s estimated that the average hospital produces roughly 50 petabytes of data every year—more than twice the amount of data housed in the Library of Congress.
So what exactly is healthcare data analytics and how can it help today’s healthcare landscape? Read on to learn the answers to these questions.
Key components of healthcare analytics
According to Arcadia, healthcare analytics refers to the “systematic use of data and statistical analysis techniques in the healthcare industry.” Specifically, it involves:
Data collection. Patient records, claims data, clinical trials, and research are all collected data types in the healthcare industry. Comprehensive and accurate data collection sets the tone for meaningful analysis and actionable results.
Data management. Data cleansing, integration, and storage all fall under data management. A robust analytics platform is necessary to facilitate these processes in a structured and HIPAA-compliant manner.
Data analysis. Most people assume that analysis is a part of healthcare data analytics. Rightfully so, as applied predictive, prescriptive, and descriptive analytical approaches provide recommended decision-making based on analyzed results. This translates to predicting diagnoses, identifying at-risk patients, and more.
Data visualization and reporting. Making large amounts of data visually digestible is essential in the fast-paced world of healthcare. Analytics tools and techniques break complex metrics down into understandable dashboards, charts, and graphs that can enhance quick and knowledgeable decision-making.
Healthcare analytics involves all of these processes to generate the most value. However, implementing analytics software can be a challenge for many organizations, as consolidating data from disparate sources can lead to duplication, inconsistencies, and compliance hazards. That’s why many decide to partner with an analytics vendor to guide them through the implementation process and help them achieve their full analytical power.
Real-life examples of analytics in healthcare
Analytics supports and revolutionizes the digitalization of healthcare systems by changing the way patient data is collected, accessed, and analyzed. To understand healthcare analytics in action, let’s review a few examples.
Electronic health records
Electronic health records or EHRs are comprehensive digital records detailing a patient’s health information. Patients can become misdiagnosed without accurate and updated EHRs if providers cannot access the full patient history or claims data.
However, combining and migrating patient data is technically intensive and can open the door for data to get lost. This is where EHR management and integration come into play. With EHR integration software, providers can access high-quality, comprehensive data at the point of care, leading to the following benefits:
Clinical decision support. Medical history, demographic information, allergies, lab results, and more can support a provider’s diagnosis and treatment plans. With comprehensive details, providers can more easily identify health patterns and employ preventive measures.
Patient engagement and retention. EHR integration allows hospital systems to go paperless, opening the door to more face-to-face interaction with patients. Additionally, cleaner and more organized patient data invites patients to better understand their health status and take steps toward self-care management.
Care continuity and collaboration. In today’s fragmented healthcare system, it’s easy for medical professionals to unintentionally misdiagnose due to a lack of patient data. EHR integration unifies care teams to collaborate and problem-solve through organized file management and secure transferability.
Although the EHR is a reliable management solution, not every country has fully implemented it. Fortunately, the U.S. has committed to an EHR system, with a total of 94% of hospitals adopting it. However, other countries, including those in the EU, are hesitant to make the leap. If they do decide to exchange health records across borders, it will open up the door for cross-border, cohesive patient care.
Patient outreach and engagement
Analytics also has a hand in revolutionizing patient outreach and engagement. With AI-enabled tools, healthcare analytics technology can scale engagement efforts to ensure individual patients receive the follow-up care they need to experience optimal health outcomes.
Analytics software tools use algorithms and risk models to zero in on at-risk patient groups. In turn, this optimizes resource allocation, closes care gaps, and relieves care teams of extensive outreach planning efforts. For example, with analytics, care teams can automate targeted outreach efforts to complete the following care objectives:
Preventive care and screening reminders. Healthcare professionals can use analytic outreach tools to send informed preventive care messages such as vaccination, screening, and flu shot reminders. This ensures patients receive timely care and safeguards against the risk of illness progression.
General appointment reminders. No-shows and other scheduling complications can increase costs and decrease patient satisfaction. Automated analytic outreach tools send appointment reminders via text, email, and phone calls to ensure patients attend scheduled appointments and maximize resource healthcare utilization.
Emergency alerts and notifications. Providers can use automated alerts to update patients during times of public health emergencies, send information on recalls of medications or medical devices, and inform them of any other urgent updates they’ll benefit from receiving.
AI-enabled audience segmentation allows care managers to send out timely reminders to those who are most at risk. In the case of providers and patients, it’s a win-win allowing providers to experience a decreased administrative workload and patients to experience better health outcomes.
Staff management and coordination
The implementation of healthcare analytics can also lead to streamlined staff management and coordination. This is especially helpful as many healthcare organizations face extreme staffing shortages that threaten to disrupt workflows and lead to an even greater retention risk.
By using data-driven insights, analytics help optimize staff management and pave the way for increased employee engagement. As an example, providers can use predictive analytics to forecast staffing needs, such as by analyzing historical patient volume fluctuation and planning sufficient staff during peak times like flu season.
Another staffing use case would be the evaluation of staff to create action plans for areas of improvement. This could be translated into refining communication of employee expectations or optimizing employee recruitment to narrow an organization’s list of candidates to those that best fit your culture.
Healthcare analytics tackles operational, clinical, and cost hurdles. Although some organizations may be hesitant to implement analytics software, its growing market value and relevant use cases speak to its ability to simplify workflows and improve patient outcomes. If you’re curious about how analytics can transform your healthcare organization, consider watching the technology in action by researching the top vendors and watching product demonstrations.
https://nxunite.com/wp-content/uploads/2024/02/Arcadia_NXUnite_What-is-Healthcare-Analytics_-A-Mini-Guide-Examples.png8001800jenny.russhttps://nxunite.com/wp-content/uploads/2023/09/NXUnite-by-nexus-marketing-White-3.svgjenny.russ2024-02-19 12:15:302024-02-19 12:15:32What is Healthcare Analytics? A Mini Guide + Examples
According to an Independent Sector report, 48.5% of nonprofits increased their staff workloads to meet rising demands for services last year. Your nonprofit’s staff members have a lot on their plates. To continue making a difference, they must stay on top of fundraising initiatives, dedicate time to outreach, follow up with donors, and more.
As more community needs arise, it’s essential to equip your team with the tools, skills, and resources they need to streamline their roles and avoid burnout. One way to accomplish this is by creating a nonprofit staff training plan.
Having a deliberate training plan in place ensures that you stay on top of your staff’s learning needs and keep up with the latest best practices in the sector. Fortunately, there is a wealth of high-quality resources that you can offer to employees, from certification programs to online advice shared by nonprofit thought leaders. Let’s start by exploring exactly why staff training is so important to your nonprofit’s long-term success.
What are the benefits of nonprofit staff training?
Every member of your nonprofit’s team is a key contributor to your mission. Therefore, you need to hire and retain passionate, talented individuals who are capable of propelling you toward your goals. By investing in staff training, your organization can:
Attract top candidates. The world of nonprofits is fast-paced, which might seem overwhelming to newcomers. They may be concerned that they’ll be left to their own devices in their roles and forced to adapt with minimal help. Having a training plan that you can mention in job descriptions can assuage their worries and inspire more exceptional job seekers to join your nonprofit.
Improve employee engagement. Training your employees is an excellent way to demonstrate how much you value their contributions. As they learn and improve, they’ll feel more confident in their day-to-day responsibilities and proud of all that they accomplish for your nonprofit. The more competent they feel in their roles, the more likely they’ll be to stick around for the long term.
Boost operational efficiency. Your staff members need to leverage various tools and work as a team to fulfill your nonprofit’s purpose, whether they’re providing services to beneficiaries or putting together reports to inform your strategic planning efforts. Staff training can streamline their workflows, improve their efficiency, and empower them to build stronger relationships with stakeholders.
Increase its reputation. Developing a staff training plan demonstrates to your donors, volunteers, board of directors, and other community members that you’re committed to producing better outcomes for those you serve. This can increase your credibility and bring in more support for your cause.
Ultimately, the time and resources you devote to nonprofit staff training will shine through in the impact you make on your community.
How do you create a nonprofit staff training plan?
The specifics of a nonprofit staff training plan will differ depending on your mission, staff members, and priorities. For instance, you might be trying to promote more matching gifts and determine that you need to educate staff members on how to speak about these opportunities with donors. Or, you might have recently adopted a new software solution that you need to familiarize your employees with.
No matter what your priorities are, you can follow these four steps to put together an effective training plan of your own:
1. Identify staff training needs and topics.
Ensure that you’re directing your resources to the right areas by sending out a survey to your staff members upfront. Ask them to share which topics of knowledge or skills they would like to focus on to improve their performance in their roles. Additionally, consider creating assessments to evaluate your employees periodically and identify any gaps you need to address.
Think about the training needs of both your frontline staff members and managers. After all, your managers can significantly influence the productivity, motivation, and collaboration of your employees. To prepare them for managing effective teams, you may enroll them in a nonprofit management training program that covers best practices related to time management, communication, and delegation.
2. Promote staff training opportunities.
Use the insights you gather from your staff input and evaluations to provide a framework for the training resources you’ll offer. Then, promote several types of opportunities that appeal to a variety of learning preferences. Some employees may enjoy engaging with their peers in live, instructor-led classes while others may feel more comfortable with learning at their own pace.
Some popular staff training options include:
Cohort-based classes. Enrolling your staff in online, cohort-based learning can boost their engagement and strengthen their bonds with team members. These classes are a wonderful way to learn from the expertise of a dedicated instructor and the knowledge of other peers in the sector in a structured format.
Mentorships. Nurture a culture of learning at your nonprofit by creating a mentorship program. Pair newer hires with more experienced staff members so they can quickly develop the skills and best practices they need to thrive in their roles. Plus, these programs also help mentors refresh their knowledge and feel more confident in their leadership abilities.
Conferences. Nonprofit conferences are ideal opportunities for convening with other professionals across the sector and sharing ideas on how you can better fulfill your missions in the current landscape. With topics ranging from fundraising to leadership, there’s bound to be an event that suits your staff’s training needs.
Asynchronous courses. For employees who prefer a more flexible learning schedule, direct them to online courses that they can work through at their own speed. These courses are cost-effective and cover topics such as matching gifts and cybersecurity through educational videos, quizzes, and other activities. However, it may be more challenging for staff members to feel engaged when approaching training on their own.
Include a mixture of in-person and virtual training options to appeal to more of your employees’ needs and make it easy for them to participate.
3. Reach out to experts as needed.
If you’ve identified specific areas of your nonprofit’s operations in which your staff members need more in-depth, specialized training, consider approaching an expert for guidance. According to Laridae’s nonprofit consultants rundown, there are many professionals are committed to supporting nonprofits in a wide range of ways, including:
Strategic planning
Communications
Governance
Human resources (HR)
Fundraising
Equity, diversity, and inclusion (EDI)
Finance
Legal Support
Depending on their specialty, a nonprofit consultant can help your organization improve its training program or provide one-on-one coaching for individual contributors, such as your managers.
4. Recognize staff learning accomplishments.
While creating a thoughtful training plan is an important start, you can maximize staff participation and engagement by coming up with ways to recognize them for their learning accomplishments. eCardWidget’s employee recognition guide highlights the importance of acknowledging your staff members by pointing out that 92% of employees are likely to repeat a specific action if they’re recognized for it.
For example, when staff members complete a course or program, you could:
Send congratulatory eCards.
Post social media shout-outs.
Host a celebration event.
Present small gifts of branded merchandise.
Just as your nonprofit thanks its donors and volunteers for the role they play in your success, don’t forget to make your employees feel appreciated for the efforts they invest into fulfilling your mission.
As you implement your staff training plan, continue to collect feedback from your employees and conduct follow-up evaluations to identify ways you can improve moving forward. For example, you might determine that you need to share more podcasts if many of your staff members indicate that they prefer taking in information auditorily. By tailoring your training to your staff’s needs, you’ll ensure that they’ll get the most out of the resources you provide.
https://nxunite.com/wp-content/uploads/2024/02/Laridae_NXUnite_Nonprofit-Staff-Training-How-to-Create-an-Effective-Plan_Feature.png7501600Sonia Xinghttps://nxunite.com/wp-content/uploads/2023/09/NXUnite-by-nexus-marketing-White-3.svgSonia Xing2024-02-15 11:06:042024-02-15 11:07:15Nonprofit Staff Training: How to Create an Effective Plan
In a world filled with endless information and constant distractions, nonprofits face an uphill battle when it comes to capturing the attention of their supporters. Yet, there exists a time-tested and transformative tool that can cut through the noise: storytelling.
We believe that every nonprofit has an incredible story to tell, and we are here to help you bring that story to life. Whether you’re working to alleviate poverty, protect the environment, promote education, or champion another noble cause, these insights will help you craft stories that inspire meaningful change.
1. Personalize Outreach
According to Double the Donation, personalizing outreach helps you appeal to your supporters’ specific interests and preferences. This, in turn, enables you to build long-term relationships and secure financial support.
Take these steps to ensure that your stories appeal to each reader:
Segment your audience. Start by dividing your donor and supporter list into segments based on relevant criteria, such as giving history, engagement level, demographics, interests, or location. For example, you might create segments for first-time donors, long-time supporters, volunteers, and individuals who have shown a particular interest in a specific program or cause within your organization.
Craft personalized messages. After segmenting your audience, create tailored messages and content for each group. For instance, a first-time donor may receive an introductory letter that defines your mission and explains how they can get involved, while a long-time donor may receive regular updates on the impact of their gifts and recognition for their support.
It’s also important to pay attention to the timing of your outreach efforts. Consider when your audience is most receptive to communications. This might vary for different segments, so it’s essential to schedule your messages accordingly.
2. Create a Compelling Narrative Arc
Stories with a beginning, middle, and end have a natural narrative flow that helps maintain the audience’s interest. Let’s say your nonprofit’s mission is to end food insecurity and is hosting a virtual fundraising campaign to raise donations. Here are a few steps that you can take to build a narrative arc:
Start with a relatable problem or challenge. Grab the reader’s attention with a compelling lead like: “Have you ever gone to bed hungry or had to worry about where your next meal will come from? For 23% of our neighbors, this is a daily reality.”
Build tension by highlighting the stakes. Highlight the effects that malnutrition has on a person’s mental and physical health. For example, if left untreated, food insecurity can lead to malnutrition, chronic illness, and developmental issues. It can also perpetuate a cycle of poverty that hinders a person’s ability to achieve economic stability.
Introduce your nonprofit’s role as the solution. After creating a sense of urgency, position your nonprofit as the solution to the problem. Explain how your organization is actively working to alleviate food insecurity through food distribution programs and community gardens.
Conclude with a resolution or call to action. Use strong, actionable language to ask your audience to donate to provide meals for those in need. For example, you might end the appeal by saying, “Join us in the fight against hunger – your contribution can make a real difference in the lives of those struggling with food insecurity. Donate Now.”
For the best results, keep your narrative arcs concise and to the point. Avoid unnecessary details or tangential information that may detract from the central message.
3. Showcase Success Stories
People are more likely to support a nonprofit when they see that its activities are effective. To build your case for support, share success stories that demonstrate the tangible results of your work, making sure to:
Be specific. Instead of vague statements like “we made a difference,” provide details and concrete numbers about the lives or communities you’ve impacted. For example, if you provide education to underprivileged families, you might mention how many children graduated or gained access to higher education as a result of your programs.
Feature personal testimonials. Share testimonials from beneficiaries, volunteers, donors, or staff members who have witnessed the positive outcomes firsthand. Personal narratives add authenticity and emotional depth to your success stories. Include direct quotes that express the emotions and gratitude of those involved.
Add context by sharing the journey that led to your successes. Explain the challenges faced, the strategies employed, and the dedication of your team or volunteers. This helps your audience understand your process and appreciate the effort behind the achievement.
4. Use Visual Content
According to Getting Attention’s guide to digital marketing, 91% of individuals prefer visual content to written content. Use visual elements to break up large blocks of text and make your stories more engaging and digestible.
Here are three types of visual media to use in storytelling:
Photos: High-quality photographs can capture the essence of your nonprofit’s work and the people it serves. Use them to illustrate “before-and-after” transformations, document events, showcase your programs in action, and highlight the challenges faced by the communities you serve.
Videos: Video content is highly engaging and provides a dynamic format for your stories. Consider filming short documentaries about your mission, testimonials from beneficiaries, and interviews with your team members. These can be shared on your website, social media platforms, in email newsletters, and during fundraising events.
Infographics: Infographics are effective for presenting statistical information in a clear and visually appealing manner. Use graphs, charts, and other graphic designs to illustrate key metrics, success rates, and other quantitative data.
Ensure that all visuals feature your nonprofit’s branding, including its logo, color scheme, and typography. Doing so will not only foster brand recognition but also build credibility, making it more likely that supporters engage with your nonprofit’s programs.
5. Take a Multichannel Approach to Outreach
If you want to share your stories with as many potential supporters as possible, take a multichannel approach to marketing. This refers to the process of disseminating a similar message across several communication channels—both online and offline.
Popular platforms for multichannel marketing include:
Social media: Platforms like Facebook, Instagram, and LinkedIn provide a dynamic and widespread audience for sharing stories, photos, videos, and updates. Use relevant hashtags and engage with your followers to amplify your reach.
Email: Sending out regular newsletters or email updates allows for more in-depth storytelling and the opportunity to deepen your connection with supporters. Make your subject lines eye-catching to improve open rates.
Website: Your nonprofit’s website serves as a central hub for your stories. Create a dedicated blog section where you can regularly publish in-depth narratives, success stories, and reports. Additionally, consider leveraging Google Grant funding to drive traffic to your website. This program provides eligible nonprofits with free advertising dollars on Google, helping you reach a wider audience and direct them to your content.
Direct mail: Despite the rising popularity of digital marketing, direct mail is still an effective way to share your nonprofit’s stories, especially with older or offline audiences. Format your messages into flyers, letters, or postcards and deliver them directly to your supporters.
Remember that a consistent message is key to multichannel marketing. When your core message is the same across various channels, it’s easier for your audience to understand and remember it.
As the landscape of nonprofit work and communication continues to evolve, so should your storytelling methods. Be open to new platforms, technologies, and approaches and your content will succeed as a result.
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If your capital campaign is going to be successful, you will need generous contributions from your very top projects.
In fact, according to recent research by Capital Campaign Pro, most campaigns raise more than half their goal (71%, on average!) from fewer than 20 donors. So how you approach those 20 donors matters a great deal.
And if you’re like many people, you may fall into the “We had better be perfect” trap. It’s a natural mistake. Because those top donors are so important, and you worry that you might not get more than one opportunity to ask them for a big gift, it’s got to be right!
As a result, you may be tempted to put off those big donor visits until all of your plans and your materials are buttoned down and look super professional.
In fact, you might feel paralyzed by your commitment to perfection and put off those big donor visits far longer than you should.
Here’s the truth, though. The drive to be perfect before you talk to your big donors, while understandable, is actually the wrong approach. Not only will it delay your campaign, it’s likely to diminish the chances of your success.
Why?
Because the essence of getting those large gifts isn’t buttoning down every detail. The essence is quite the opposite. Your task isn’t to make a perfect presentation, it’s to involve those large donors early and often in the planning of your project long before you make your pitch and ask for a gift.
Here are three things you can do to make sure you don’t fall into the perfectionism trap with your next capital campaign.
1. Mark planning documents as drafts.
Alternatively, get in the habit of using the phrase “preliminary plan.” Make sure to date each version of every draft. You will likely go through several drafts that will shift, change, and improve with each version. Without dating the versions and renaming and dating subsequent documents like your case for support or gift range chart, you won’t be able to keep track of which is an earlier version and which one is current.
2. Share draft versions with your most important prospects early on in the planning process.
Don’t wait until your plans are finalized. Think about it this way: If you don’t approach that local politician or business owner until everything is buttoned down and perfect, then all you have to talk to them about is money.
But if you share your plans while they are still in the formative stage, you can have far more probing and exploratory conversations with them. Those conversations will help you benefit from their ideas and give you insights into their interests and philanthropic motivations.
3. Know that it’s easier and less stressful to talk with donors before you’ve perfected your plans.
The more time and energy you’ve put into making everything perfect, the more likely you’ll find yourself selling and then defending your plans rather than discussing them.
It turns out that not only does trying to be perfect often slow you down, but it’s actually a less powerful approach to engaging your donors. And it is well-documented that engaged donors give more and give more generously.
So, don’t fall into the perfectionism trap. Train yourself to share your plans before they are fully formed and enjoy the benefits of getting wisdom and advice from the people who can help you most.
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In a world driven by profit margins and bottom lines, a new breed of startups has emerged that seeks to make a difference beyond the balance sheet. These mission-driven companies place purpose at the heart of their business strategies.
They’re not just in it for profit; they’re on a mission to create positive societal change. From providing innovative fundraising software to insightful consulting services, mission-driven companies play a direct role in nonprofits’ ability to achieve their missions.
Since employees seek companies that give back, these types of businesses are becoming increasingly prominent. To illustrate just what these businesses are doing and why they matter, we’ll shed some light on mission-driven startups that focus on supporting nonprofits and associations. Our goal is to provide inspiration for your own mission-driven business and determine if impact investing can help fuel your company.
Now, join us in exploring some of the most inspiring mission-driven companies currently operating. Along the way, you’ll discover the incredible benefits of leading a business that is driven by a higher calling, one that extends its reach far beyond the boardroom and into the realm of social change.
Our Mission-Driven Company
We have an inside perspective on mission-driven companies, and that’s because we are one! At NXUnite by Nexus Marketing, we provide a platform where brands and organizations within the mission-driven sector can collaborate, learn, and grow.
We act as a hub for the nonprofit community by providing the following:
Engaging Panels: Audience members can immerse themselves in thought-provoking panel discussions led by industry experts and influencers. These digital events share insightful perspectives on pressing issues, innovative solutions, and emerging trends. Meanwhile, our guest speakers have the opportunity to expand their audience and connect with other thought leaders.
Insightful Webinars: Led by mission-driven professionals, our webinars cover a range of topics, empowering attendees to stay ahead of the curve. Our presenters lead discussions on their preferred topics and craft presentations to share their valuable knowledge, all while cultivating a new audience through NXUnite.
Interactive Demo Days: We shine the spotlight on other mission-driven companies that provide services and products to nonprofits with demo days. Attendees can get a closer look at cutting-edge products and services designed to streamline nonprofit operations and grow their impact, while businesses can talk directly with potential customers.
Helpful Resources: We’re constantly creating educational resources for the mission-driven sector. Explore trusted solutions, stay up-to-date on industry events, and discover nonprofit podcasts to add to your library.
We even offer a Cause Coins system for our community, which they can redeem for rewards like discounts on technology and event tickets. Our audience earns Cause Coins by attending webinars, sharing NXUnite with their networks, and more, getting more eyes on our mission-driven business partners while encouraging nonprofit professionals to broaden their knowledge.
How We Make It Happen
We couldn’t do it alone! We work with Foundry for Good to make our mission-driven business viable. They’re impact investors who help mission-driven startups make their mark in the social good sector.
Powered by a team that understands nonprofits and mission-driven businesses, Foundry for Good isn’t just a springboard for for-profit companies. They strive to invest in ideas that can make a true impact. Here’s what their team brings to the table:
An instant network of 500+ companies in the mission-driven space
Marketing and partnerships to connect their partners with pre-established organizations and scale quicker
A range of services from content and inbound strategy to ongoing PR opportunities
We recommend chatting with their team to learn how their expertise can help your startup business or idea come to life. With a powerful team, expansive network, and innovative marketing strategies, they’ll make sure your business’s impact is felt.
Mission-Driven Startups That Serve Nonprofits
The following mission-driven companies offer a wide range of services to nonprofits, covering areas such as technology, finance, governance, and marketing.
Double the Donation
Matching gifts are a powerful yet underutilized revenue source for nonprofits, and Double the Donation offers robust software to help nonprofits pinpoint match-eligible donors and drive matches to completion.
Backed by Double the Donation’s industry-leading software, 360MatchPro, nonprofits gain access to the largest and most up-to-date database of matching gift and volunteer grant information. Armed with the knowledge and tools to tap into matching gifts, nonprofits can break down giving barriers, determine donors’ eligibility, and raise more for their causes.
This mission-driven company provides customers with the following:
An embeddable employer search tool connected to a database of corporate giving guidelines from more than 24,000 companies
Automated email streams to encourage donors to check their eligibility and complete their match requests
Integrations with other mission-driven software to simplify match identification and outreach
Nonprofits that use Double the Donation’s product can rest assured that they’re receiving the most up-to-date corporate giving information. Foundry for Good also works with this company to get the product in front of nonprofits and schools that could benefit from the power of matching gifts.
eCardWidget
Digital greeting cards enable nonprofit organizations to connect with supporters and inspire action. eCardWidget recognizes this and provides a digital greeting card platform, empowering mission-driven organizations everywhere to raise money, spread awareness, and do more for their missions.
With their user-friendly eCard software, they offer the following to nonprofits:
Drag-and-drop design tools with customizable templates, graphics, and a variety of fonts and colors
Donation and selling capabilities, enabling organizations to sell charity eCards or offer them in exchange for donations
An address book, providing organizations with the email addresses supporters use to send and receive eCards
Scheduling capabilities to send eCards at the optimal time
As partners with Foundry for Good, eCardWidget is making a name for itself in the mission-driven sector. From thanking donors to raising money, eCards have so many uses for nonprofits. That’s why it’s easy to see why this mission-driven startup is making an impact.
Getting Attention
The Google Ad Grant is a great marketing resource for nonprofits. Getting Attention strives to help organizations make the most of the monthly advertising credits they receive through the program.
Getting Attention manages the Google Ad Grant from start to finish for their nonprofit clients. When a nonprofit partners with this mission-driven startup, they can tap into the following services:
Google Ad Grant applications to get up and running with the program
Ad creation backed by keyword research so nonprofits can connect with and inspire prospective supporters
Ongoing account maintenance to comply with Google Ad Grant rules and optimize performance
Google Grant reactivation if your account ever gets suspended
Getting Attention also works with Foundry for Good to spread awareness of the Google Ad Grant and connect with nonprofits who could benefit from their services.
BoardEffect
BoardEffect delivers board management software for leaders of nonprofits, higher education institutions, community healthcare organizations, and credit unions. The flexible tools empower board members to collaborate, whether they’re in a meeting or between them. The platform offers tools for agenda creation, document sharing, board member engagement, and secure communication, all aimed at enhancing governance processes.
This mission-driven company was founded by a team of developers who have worked with boards for years, so they understand that board work can be complex but also highly rewarding. Today, they serve over 2,500 clients.
TechSoup
TechSoup delivers discounted and donated software, hardware, and technology services from various technical companies to nonprofits. They offer a wide range of technology resources, including software licenses, cloud solutions, and training sessions. This allows nonprofit organizations to leverage technology for social good while saving costs.
This mission-driven company’s goal is to help nonprofits, NGOs, and social impact organizations improve their operations, increase efficiency, and better serve their communities. They strive to “build a dynamic bridge that leverages technology to enable connections and innovative solutions for a more equitable planet.”
Nonprofit Finance Fund
The Nonprofit Finance Fund (NFF) provides financial consulting, loans, and advisory services to nonprofits to help them achieve financial sustainability. By strengthening nonprofits’ sustainability, NFF enables their clients to better serve their communities.
NFF provides financial expertise, tailored financial solutions, and a range of resources to improve nonprofits’ financial resilience. They contribute to a more equitable world by empowering mission-driven organizations to adapt and drive positive change.
Mission-Driven Startups That Serve Associations
Associations require unique technology and support to provide member benefits, manage events, offer educational programs, and more. Let’s explore several mission-driven companies that offer technology and resources to grow associations’ communities and deliver value.
ClubExpress
ClubExpress firmly believes that community organizations are integral to society and seeks to take the drudgery out of running a club or association. The company helps club leaders create, manage, and sustain strong, vibrant organizations more easily with their internet-based system. Their association management platform offers membership management, event planning, website hosting, and communication tools, so these organizations can streamline operations and fulfill their missions.
Web Scribble
Web Scribble offers job board and career center solutions for associations to help members find employment opportunities within their industries. Rated as the #1 association career center platform, their career hub has posted more than 1.3 million jobs. This mission-driven business’s goal is to provide additional value to associations beyond traditional member benefits.
MultiView
MultiView offers digital marketing and advertising solutions for associations to reach their audiences through online channels. This company understands that members look to associations to provide industry news, professional development opportunities, advocacy, and more. That’s why they offer services to keep up with those needs by boosting engagement, increasing visibility, and generating leads.
They’re powered by a team of editors who assist their clients by writing and curating relevant content for newsletters, sending event communications, and generally spreading the word about the associations that work with them. Trusted by more than 1,200 associations, this mission-driven company has made a name for itself.
Mission-Driven Companies That Provide Services
There’s more to powering nonprofits and associations than technology. Let’s explore some mission-driven companies that offer valuable services, expertise, and support to nonprofit organizations, helping them thrive, achieve their missions, and make a positive impact in their communities.
Nexus Marketing
Nexus Marketing is a different type of mission-driven company. They provide marketing solutions to brands powering social good and community impact. Through extensive SEO and content creation services, they connect businesses—whether they’re selling technology, consulting services, or something else—with the nonprofits they cater to.
Backed by a deep understanding of mission-driven audiences, Nexus knows what it takes to reach and inspire these businesses’ prospective clients. They help mission-driven startups grow brand recognition and gain a competitive edge through value-add services like:
SEO strategy, including conducting audits, keyword research, and ongoing website performance monitoring
Content creation, including creating keyword-optimized onsite content, guest posting opportunities, graphics, videos, and more
Lead generation and authority building, such as panels, presentations, and cross-promotional opportunities
Foundry for Good also powers this company, so clients gain direct access to a network of other mission-driven businesses, connecting them to nonprofits that need their services and technology.
BDO Nonprofit
BDO Nonprofit is a mission-driven startup specializing in audit, tax, and consulting services tailored to nonprofits. The company helps nonprofits navigate complex financial and regulatory landscapes, ensuring compliance and financial transparency. Their services assist nonprofits in managing money, enhancing governance practices, and optimizing operations.
BoardSource
BoardSource offers governance and board development services to nonprofit organizations. They provide training, resources, and consulting to help nonprofits strengthen their board leadership and governance practices.
BoardSource supports nonprofit organizations in achieving their missions, making it a mission-driven organization dedicated to social impact and positive change in the nonprofit community.
Nonprofit Marketing Guide
Nonprofit Marketing Guide is a training and coaching company that provides nonprofits with guidance and resources related to nonprofit marketing, donor communications, and content strategy. They offer tools and insights to help these organizations improve their marketing efforts and effectively communicate their impact to target audiences. This mission-driven startup puts nonprofits’ success at the center of their business model.
Wrapping Up The Discussion on Mission-Driven Companies
Mission-driven startups power the nonprofit sector. They prioritize supporting organizations with compelling missions to create positive change in addition to turning a profit.
If you need help bringing your company’s vision to life, we suggest working with impact investors like those at Foundry for Good. They can provide you with the capital and direction you need to make your impact felt.
Want to learn more about the mission-driven sector? Explore these curated resources:
Why Companies Should Have Employee Giving Programs: Mission-driven startups can take their impact further by offering workplace giving opportunities. Learn about the impact of these programs in this guide.
Starting a business that’s focused on social good is noble, but like almost all businesses, it requires financial support to flourish. Fortunately, there’s a growing group of investors who are passionate about more than just making money—they want to make a difference.
In a world where profit meets purpose, impact investors are reshaping the business landscape by investing capital into startups and small companies dedicated to making a positive difference.
If you’re a founder of a social good startup looking for investors who share your values, you’re in the right spot. In this article, we’ll introduce you to remarkable social good investors who are actively seeking out companies committed to positive change, including anything from fundraising technology vendors to Google Grants agencies. Here’s what we’ll cover:
If you’re a founder with a vision, these investors could be your key to success. As a company that’s powered by mission-driven investors, our team at NXUnite is excited to share our unique perspective and help you understand the role these groups are making.
Understanding Impact Investing
Before shining the spotlight on specific investors, let’s take a step back and start with the fundamentals of impact investing. We’ll walk through basic questions, so you can make an informed decision when choosing an investor for your business.
What is impact investing?
Impact investing is when a business or other entity invests in companies or organizations with the dual aim of achieving financial returns and positive impacts. Unlike traditional investments that focus primarily on financial gains, impact investing strongly emphasizes achieving measurable outcomes in social good areas like environmental sustainability, education, poverty, social justice, and healthcare.
Value Alignment: Social good investors seek investments that align with their values and social or environmental goals.
Measurable Impact: These investments are intended to produce quantifiable and positive societal or environmental outcomes. As such, investors use various metrics to assess their investments’ impact.
Financial Returns: While intended to create positive change, impact investing should still be financially viable and competitive with traditional investments.
Diverse Focus Areas: Impact investments cover a range of sectors, such as renewable energy, education, and affordable housing.
While these investments involve several moving parts, impact investing is essentially leveraging capital to create positive change, earn revenue, and drive innovation across the social good sector.
Does impact investing make a difference?
Yes, it does! Impact investing has gained momentum as individuals and businesses increasingly recognize their ability to address pressing global challenges while also earning financial benefits.
By directing capital into businesses and initiatives that aim to drive change, impact investing provides these benefits:
Scaling Social Innovation: Impact investing funds innovative and socially responsible startups and small businesses. This financial support helps recipients expand operations, reach more people, and accelerate impact.
Attracting More Capital: The success of impact investments can inspire other investors to allocate their capital toward socially and environmentally responsible initiatives. In other words, they create a snowball effect of positive change.
Aligning Values and Finance: Impact investing allows businesses to align their financial resources with their values and missions, ensuring their investments have a meaningful impact on the world.
Overall, impact investing enables investors to use their financial resources strategically to drive positive change, solve global challenges, and promote a more sustainable and equitable future. It demonstrates that financial returns and ESG impact can be mutually reinforcing.
How do I find social impact investors?
Browsing lists like this one is a good start. Consider following industry blogs or using online investment platforms like Toniic and the Global Impact Investing Network (GIIN) Investor Directory. These platforms connect social impact entrepreneurs with potential investors.
You can also join impact investing conferences and networking events. These gatherings attract social impact investors, foundations, and philanthropic organizations. Attend these events and start conversations with potential funders for your business.
What’s the difference between impact investing and ESG investing?
While similar, these two types of investments have a key difference.
Impact investors focus on generating specific, measurable, and positive social or environmental impacts alongside financial returns. Meanwhile, environmental, social, or governance (ESG) investors incorporate ESG factors into the investment decision-making process.
ESG investors look for companies that meet specific ESG requirements, but the companies they invest in aren’t necessarily part of the social good sector. For example, an investor might use ESG standards to assess a for-profit clothing store’s supply chain practices. By integrating these non-financial factors into their investment strategies, they aim to mitigate risks and ensure they support businesses that will be sustainable long-term.
Our Recommended Impact Investor: Foundry for Good
Focus Area: Mission-Driven Businesses Such As Nonprofit Technology and Consulting Services
With a diverse background of investments, Foundry For Good knows how to take your social impact further. They won’t just invest capital; they’ll infuse your mission-driven startup with strategic marketing solutions.
Foundry for Good provides you with direct access to experts in philanthropy and change, like the changemakers here at NXUnite!
Content and Inbound Strategy: They’ll create content tailored to your brand, increase brand visibility with content on influential websites, help you stay ahead in search engine traffic via keyword research, and regularly audit your content. Essentially, they’ll elevate your content strategy both on and offsite.
Performance Reporting: Foundry for Good will conduct robust technical audits and rectify high-priority SEO issues to give your site the strongest foundation possible to attract potential customers. With detailed reports, they’ll keep you in the loop on inbound lead generation, keyword performance, and technical performance.
Mission-Driven PR with NXUnite: Join our community of like-minded businesses, leverage sponsored emails, be a part of panels, and lead exclusive webinars to generate leads and grow your business.
Backed by a passionate team, a network of mission-driven businesses, and cutting-edge marketing strategies, Foundry for Good will make sure your business’s impact is felt.
Notable Impact Investments
Foundry for Good has an evergrowing portfolio of social good investments. Some of their companies making a difference include:
NXUnite by Nexus Marketing offers our vibrant online community that brings brands and mission-driven professionals together through webinars, online directories, and educational content. It’s a place where we showcase our friends in the industry, help them forge new connections, and foster unity across the mission-driven sector.
Double the Donation is the leading provider of matching gift software to nonprofits and educational institutions. It provides access to the world’s most robust database of corporate matching gift program records, covering over 99% of match-eligible donors.
Nexus Marketing is the only digital marketing agency specializing in social good professionals and how they find the products, people, and services they need. We offer SEO and content marketing services for brands powering community impact.
eCardWidget provides adaptable eCard software, ideal for everything from nonprofits thanking donors to businesses inspiring employees. Thanks to its customizability, eCardWidget empowers users to create custom eCards branded to their cause or business within seconds.
Getting Attention provides Google Ad Grant services to nonprofits. Their global team helps nonprofits through every stage of the grant management process, including everything from applying for the grant to creating ads and maintaining eligibility. With their expert help, Getting Attention clients can make the most of their $10,000 in ad credits each month.
If you’re looking for a reliable impact investor, we can’t sing Foundry for Good’s praises enough! Chat with their team to see if they’re the right fit for your business.
Other Social Good Investors Making A Difference
We’ve used a variety of methods to evaluate these remaining investors, such as selecting ones with substantial assets under management (AUM), which is the total market value of investments they manage.
Whether you’re looking for nonprofit technology investors, consulting agency investors, or mission-driven investors in general, there’s something for every small business wanting to power their social impact initiative.
Actis
Focus Area: Sustainable Infrastructure
Actis is a leading global investor in sustainable infrastructure. Since its inception in 2004, this impact investor has raised $24 billion to invest in a better tomorrow. They invest in energy infrastructure, long life infrastructure, digital infrastructure, real estate, and private equity.
Actis has a long history of building businesses. Today, it has 17 offices across the globe, enabling them to invest in meaningful opportunities wherever they may come from. They have an impressive portfolio of organizations they’ve invested in, including energy infrastructure companies like Atlas Renewable Energy, long life infrastructure companies like Emicool, and private equity firms like Upstream Systems.
Bain Capital
Focus Areas: Health and Wellness, Education and Workforce Development, and Sustainability
Established in 1984, Bain Capital is a private investment firm with approximately $180 billion in AUM.
While known for its traditional investment activities, Bain Capital has an impact investing arm called Bain Capital Double Impact. With this division of their firm, they invest in companies and initiatives that address social and environmental challenges, such as healthcare, education, sustainability, and social equality.
One example of their work is their recent partnership with Meteor Education. With Bain Capital’s support, they aim to expand Meteor Education into new markets and advance its mission to support educators in creating enriching learning experiences.
Bamboo Capital Partners
Focus Areas: Financial Inclusion, Access to Clean Energy, Access to Healthcare, and Agribusiness
Founded in 2007, Bamboo Capital Partners has a global presence in impact investing markets. Bamboo aims to improve the lives of marginalized communities while delivering financial returns. It employs a blended finance approach and works with partners (such as foundations and other impact investors) to jumpstart opportunities brought to them.
Bamboo specifically targets companies with products, services, or operations that lead to positive social and/or environmental changes. For example, that might mean a business that improves the quality of life or one that increases efficiencies to reduce expenses for target populations.
BlueOrchard Finance S.A.
Focus Areas: Financial Inclusion and Poverty Alleviation
With principal offices in Switzerland, BlueOrchard Financial operates in more than 100 emerging and frontier markets in various areas like Asia, Latin America, Africa, and Eastern Europe. It was founded as part of a United Nations initiative in 2001 as the first commercial manager of microfinance debt investment worldwide. That makes it an impact investment pioneer.
Now, BlueOrchard is majority-owned by asset management business, Schroders, and has a global reach of more than 280 million people. Schroders targets sophisticated investors and global initiatives that fight inequality and the effects of climate change. They have a presence in the microfinance, agriculture, renewable energy, healthcare, and education sectors.
One of BlueOrchard’s recent investments is ChargeZone, a fast-growing electric vehicle charging company located in India. BlueOrchard invested in the company to fund the roll-out of 286 charging stations, serving 1,130 electric buses.
Generation Investment Management
Focus Areas: Global Equity, Asia Equity, Growth Equity, and Private Equity
Founded by Al Gore and David Blood in 2004, Generation Investment Management has pioneered the development of sustainability and ESG investing. Known for its commitment to impact investing, this firm strives to deliver long-term financial returns while addressing global sustainability challenges like environmental degradation.
It employs a sustainable capitalistic approach, emphasizing that “sustainability factors have a material impact on companies’ returns over the long term.”
Hamilton Lane
Focus Areas: Professional Services, Renewable Energy, and Software
With 22 years of impact investing experience, Hamilton Lane is a leading, global investment manager providing private markets solutions. Since 2001, they’ve invested in mission-driven solutions and now have $3.1 billion in assets related to impact strategies. What’s more, they report on the impact of their investments to ensure they help companies drive social change. Examples of metrics include energy savings, water cleaned, and reduction in CO2 emissions.
In March 2022, Hamilton Lane released a Climate Policy Statement to communicate its dedication to the global search for climate-change solutions. They also pledged to reach net-zero emissions by 2050.
Some of Hamilton Lane’s investments include:
Intersect Power, which develops large utility-scale renewable energy with a focus on solar and battery-storage projects.
TXO Systems, which provides B2B circular economy solutions for telecommunications and related industries through selling, reusing, repairing, and recycling equipment.
Neuroflow, which provides behavioral health software that uses digital features to reinforce in-person clinical care.
Meridiam Infrastructure
Focus Areas: Critical Public Services, Sustainable Mobility, and Innovative Low Carbon Solutions
Meridiam Infrastructure is driven by its mission to make the UN Sustainable Development Goals a reality. They translated these goals into their organization’s five strategic pillars:
Deliver resilient infrastructure and develop resilient cities.
Accelerate energy transition.
Avoid & reduce emissions.
Promote good work conditions, inclusion, diversity & gender equality.
Protect & enhance biodiversity.
Driven by these pillars, they strive to build resilient communities, tackle climate change, and protect the environment. They do so by supporting and accelerating the development of innovative, ambitious SMEs leading the ecological transition.
Meridiam Infrastructure currently manages more than 120 assets in the social good sector around the world. One investment example is Okamac, which is the European leader of Apple computer reconditioning. Meridiam Infrastructure invested in Okamac to participate in the decarbonization of the computing sector by supporting a global champion of computer reconditioning.
TPG
Focus Areas: Climate and Conservation, Education, Financial Inclusion, Food and Agriculture, Healthcare, and Impact Services
Launched in 1992, TPG is now a leading global alternative asset manager. They launched The Rise Fund in 2016, making them the first global alternative asset manager to develop an impact investing business with more than $1 billion in AUM. Today, they have more than $18 billion in AUM.
They believe that private enterprise is critical in addressing global societal changes, and their Impact platform helps drive competitive financial returns and measurable societal benefits. Here’s an overview of their investment funds:
The Rise Fund offers investment resources, business-building skills, and a global network to grow profitable businesses seeking to deliver positive and sustainable impact.
TPG Rise Climate is their dedicated climate impact investing product. This fund was created to address global climate change challenges and scale innovative businesses that can enable quantifiable carbon aversion.
Evercare is a healthcare fund that strives to provide affordable, high-quality healthcare.
Ideal for companies looking for a vast network, TPG has a substantial global network for raising capital and driving value in their investments. Some of their investments include Palmetto, which expands access to clean energy for homeowners and businesses, and Teachers of Tomorrow, which focuses on creating education leaders.
Turner Impact Capital
Focus Areas: Educational Facilities, Affordable Housing, and Healthcare Facilities
As one of the fastest-growing social impact investors, Turner Impact Capital specializes in investing in and developing real estate projects that positively influence society and generate financial returns. They work to address critical societal challenges, particularly in underserved communities, to help create positive change in communities where their investments can make a measurable difference.
For example, they invest in the development and improvement of affordable workforce housing and community healthcare centers in low-income areas.
Final Thoughts on These Social Good Investors
Impact investing isn’t just about dollars and cents; it’s about making a meaningful impact. Impact investing bridges the gap between profit-driven business and social good. For founders of startups and small social good companies, the right investor can be a game-changer.
Again, we recommend chatting with Foundry for Good, a social good investor who’s actively investing in businesses that cater to nonprofits.
As you continue along in your journey, explore these additional resources:
Why Companies Should Have Employee Giving Programs: You want your business’ impact to be felt, and a great way to accomplish that is through employee giving. Discover the power of these programs and how to establish workplace giving program.
https://nxunite.com/wp-content/uploads/2023/11/Top-Impact-Investors_Feature.png7201890Erin Tolandhttps://nxunite.com/wp-content/uploads/2023/09/NXUnite-by-nexus-marketing-White-3.svgErin Toland2023-11-28 12:00:072023-12-13 16:24:25A Spotlight on 10 Top Impact Investors Driving Social Change
Whether you’re seeking sponsorship, volunteer support, or joint marketing opportunities, establishing partnerships with businesses in your community is a powerful way to enhance your nonprofit’s impact. However, developing these partnerships can be challenging, time-consuming, and confusing without a strategic plan in place.
In this guide, we’ll explore four tips for connecting your nonprofit with local businesses. From identifying potential partners to creating win-win collaborations, these insights will help you build strong cross-sector relationships that support your mission and drive positive change in your communities.
1. Research and Identify Potential Partners
To identify potential partners in the community, a nonprofit can follow these steps:
Define your objectives. Nonprofits often seek partnerships when organizing a large-scale fundraising event, launching a community initiative, or implementing a specific program that requires additional financial resources and support.
Research local businesses. Conduct thorough research to identify businesses in the community. Utilize online directories, local business associations, chamber of commerce listings, and social media platforms to identify potential partners.
Ensure your values align. Evaluate the values, missions, and corporate social responsibility initiatives of the identified businesses. Look for businesses that have a natural connection or alignment with your cause or mission. For example, a dog daycare business would be an obvious match for an animal shelter since they have similar clients and services.
Reach out to the identified businesses to introduce your nonprofit and express interest in exploring a potential partnership. This can be done through phone calls, emails, or in-person meetings.
2. Establish Clear Benefits
As you connect with local businesses, introduce your mission and communicate the benefits of a partnership. These may include:
Community development: Partnering with a nonprofit allows businesses to contribute to community development and address social issues, which can have a direct impact on their growth.
Elevated brand reputation. Collaborating with a nonprofit allows businesses to align themselves with a mission or social good cause, which can enhance their brand reputation and perception among customers, employees, and influencers in the community.
Increased brand awareness. Add the business’s contact information and logo to marketing materials like fundraising flyers, event invitations, and partnership-related emails to increase their brand visibility. Or, create a personalized video about your sponsor and post it to your social media pages.
Employee morale and engagement. Most employees value working for a socially responsible company. Creating matching gift programs, introducing volunteer opportunities, and sponsoring local nonprofits can improve their satisfaction.
Tax benefits. Businesses may be eligible for tax benefits or incentives when they donate or support nonprofit organizations. These financial incentives can provide a tangible benefit to the business, helping to offset costs or improve the bottom line.
Customize these benefits to suit the specific goals, needs, and sectors of the businesses you’re approaching. For example, a pet rescue organization might ask a dog trainer to financially support their upcoming adoption event. In return, the pet rescue will use Gingr’s pet business software to promote the dog trainer’s services, potentially leading to an influx of new customers.
3. Create Tailored Partnership Opportunities
Develop opportunities that cater to different types and sizes of businesses. Offer a range of options, such as:
Sponsorship opportunities: Sponsorships come in the form of financial or in-kind contributions. To incentivize larger gifts, Double the Donation’s guide to corporate sponsorships recommends creating tiered benefit packages that correlate to the level of support given. For instance, when you receive a donation of $10,000 or more, you might mention the business in a speech and display its logo on partnership-related materials. Businesses that give less than this might receive a social media shoutout instead.
Auction item donations: Many businesses have relevant products or services that would be valuable items to auction off at your next event. For example, a local hotel could offer a weekend stay, or an airline headquartered in your city could offer round-trip tickets. No matter what the business has to offer make sure you’re thoughtful about how you make your auction item donation request.
Joint initiatives: A joint initiative is a collaboration between a nonprofit and a partner organization, in which both work to create a mutually beneficial event, program, or campaign. It involves pooling resources and networks to achieve a greater impact than either organization could achieve alone.
Employee engagement programs: Employee engagement programs focus on involving employees of a business or organization in volunteer activities, fundraising efforts, or other activities that support your nonprofit’s mission.
Research collaborations: Nonprofits and businesses might partner together to research studies or projects related to their missions. For example, an animal welfare organization might partner with a dog boarding business to research the safest, most effective accommodations.
After presenting a business with a partnership opportunity, gauge their interest and thank them for their consideration, regardless of their decision. That way, they will be left with a positive impression of your organization.
4. Demonstrate Impact
If a business agrees to be your partner, take notes throughout the partnership, making note of successes and areas of improvement.
Then, in your outreach, explain the impact that the partnership has made on your nonprofit and the community as a whole. Share success stories, testimonials, or data that highlight the tangible outcomes of your programs or initiatives. This builds credibility and instills confidence in other potential business partners, showing them how their involvement will make a difference.
Remember, connecting with local businesses requires building meaningful relationships based on shared values and mutual benefits. By taking a strategic and personalized approach, your nonprofit can form valuable partnerships that amplify your impact and strengthen the communities you serve.
https://nxunite.com/wp-content/uploads/2023/07/Gingr_NXUnite_Connecting-your-nonprofit-with-local-businesses_Feature.jpg375800wpenginehttps://nxunite.com/wp-content/uploads/2023/09/NXUnite-by-nexus-marketing-White-3.svgwpengine2023-11-26 15:51:002023-12-13 11:43:514 Tips for Connecting Your Nonprofit With Local Businesses
