We have all known marketing to be the lifeline of any business. Profit-making is at the heart of any business activity. When it comes to not-for-profit activities, the name is self-explanatory. How then, does marketing help non-profits?
People may forget what you said. People may forget what you did. But people will never forget how you made them feel. That’s what not-for-profit marketing aims at.
To quote in terms of Investopedia, ‘Not for profit marketing refers to activities and strategies that spread the message of the organisation, as well as solicit donations and call for volunteers.’ That means that such type of marketing looks at garnering the attention of both, donors and volunteers.
A self-explanatory term, not-for-profit or non-profits rely on donations, grants and other contributions. At the same time, they’re in ardent need of volunteers who have got time on their hands to spare and be a part of a noble cause.
How does it differ from marketing?
While marketing aims to generate revenue and reputation, not-for-profit aims at generating awareness about a cause or an issue.
Does that mean that anybody who’s a part of not-for-profit organisations doesn’t get paid?
While it’s great and truly altruistic to be a part of a better cause, let’s face it- It’s 2021 and people do need real money to survive. I had the opportunity of briefly being associated with a literary press that manifested itself as a not-for-profit organisation and hence relied heavily on fundraisers and grants. There were substantial research and homework involved, but yes, the money was decent enough. Plus, it does earn you bouquets in terms of reputation.
What are its benefits?
Also known as cause marketing, the benefits can be immense as they are not just limited to raising money but cater to overall efficiency. There’s increased exposure to the media as well as tax-exempt status.