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Diversifying your income Mike Bartlett Senior Consultant Money Tree Fundraising [email protected] @MoneyTreeFR
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Sector Trend
Courtesy of FSI Small Charities Trends Report 2016
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Sector Trend
Courtesy of FSI Small Charities Trends Report 2016
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Why/What/When/How/Who?
• Why diversify or innovate? • What has led you here? • Is this the right time? • What are the real barriers to growth? • Focus on the problem you’re trying to solve • Why are you uniquely placed to solve it? • What one problem costs the £££££s?
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4 Factors for Great Innovation
1. Proposition 2. Investment strategies 3. Delivery through other people 4. Personal focus and inspiration Courtesy of Alan Clayton/Plymouth Uni ‘Great Fundraising Report’
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4 Factors for Great Innovation
UDCM 1. Proposition Understand 2. Investment strategies Decide 3. Delivery through other people Communicate 4. Personal focus and inspiration Motivate
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Why? The 5 ‘P’s
Purpose Passion Pride Profit Performance
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Why?
Vision
Values
Resources
Fundraising Diversification
Innovation
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Micro vs Macro Factors
Macro
Micro
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Product Lifecycles
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Product Lifecycles
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Why? Unplanned Trend Cause Issues Next Steps
Corporate partners are moving on
Our challenge events are less popular
How to attract new corporate support
Focus group with past companies
Contracts ending Government cuts Dramatic need to upscale fundraising
Assess potential of income areas
Donor numbers declining
Opt in regulation Smaller mailings – less income
Ensure existing donors are stewarded superbly
Similar charities entering the market
Topical cause Reduced share Assess unique answers to the problem
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Why?
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Risk vs Return High potential income
Low potential income
High risk of raising nothing
Challenge Events
Enterprise
Special/gala events
Community Fundraising
Grant applications
Major Giving
Supporters Programme
Corporate support
Donor acquisition
Online
Low risk of raising nothing
Legacies
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ROI vs Timescale High ROI 10+:1
Low ROI 2:1
Short timescale Long timescale
Major Giving
Grant applications
Supporters Programme
Challenge Events
Legacies
Online
Enterprise
Special/gala events
Community Fundraising
Corporate support
Donor acquisition
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Look after the pennies?
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Existing vs New
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Existing vs New
Consolidate (ext. factors?)
Grow (how? – capacity?)
Innovate (test)
Re-invent (for crisis)
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Attractiveness vs Appropriateness
Attractiveness (External) • Level of public concern about method or content • Number of potential donors (size of the market) • Perceived impact on the beneficiary group • Uniqueness / novelty value • Ease of participation in activity
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Attractiveness vs Appropriateness
Appropriateness (Internal) • Staff expertise • Organizational experience • Fundraising return • Resources (staff, volunteers, IT, time)
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Implementing Change - UDCM Vision Skills Incentives Resources Action
Plan Change
Skills Incentives Resources Action Plan Confusion
Vision Incentives Resources Action Plan Anxiety
Vision Skills Resources Action Plan
No Change
Vision Skills Incentives Action Plan Frustration
Vision Skills Incentives Resources False Starts
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Evaluating New Activities
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In Summary • Ask lots of difficult ‘why’ questions • Go back to what key problem are you there for? • Assess current activities and trends • Consider risk vs return + timescale • Consider attractiveness + appropriateness • Change requires communication and motivation • Evaluate to avoid wasting time and energy • Remember, the biggest error is to do nothing!
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Further Reading • www.dsc.org.uk • Marketing Strategy – Peter Maple • Fundraising Management – Adrian Sargeant • SOFII • www.fundraising.co.uk • Twitter • Blogs • Linkedin
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Any questions?