In Non-Profit Organizations, funds to help people and causes are largely generated from donations and grants. Donations and grants are what pays employees and other operational expenses. While many Non-Profit organizations get donors to donate money, they struggle to get repeat donations from these donors. According to Seth Godin, the average donor retention rate is 29.3%. This leaves a lot of missing Revenue.
Much like their for Profit Counterparts, Non-Profits need to find ways to keep and retain customers. It is cheaper to retain current customers than to acquire new ones. Yes, Customer Acquisition is important but it is not effective to forget about current customers as they can help with customer acquisition using work of mouth.
Non-Profits can Generate Revenue beyond Donations and Grants in the following ways:
- Charging for Conferences and events
- Creating a Subscription Based Blog or Newsletter either charging for this or offering a freeminum model with paid features
- Offering Free Trials of Products and Services then charging for them
- Charge for Memberships to the Non-Profit or Professional Association offering discounted pricing to stakeholders at various institutions
- Partner with Colleges and Universities to Offer Free Memberships to Students with elevated pricing as they go into the profession
- Partner with the Private Sector, offer Sponsorships
Marketing, Sales, and Branding for Non-Profits and Professional Associations.