In an era where value-based marketing seems to be the norm of the day, it is very important for businesses to adopt some non-profit strategies in order to embrace the human values that help them stay relevant in the market.
Networking is the key
People who have worked for non-profits and NGOs will tell you that social media management for any entity, be it for profit or not, is actually a business model. Even for non-profits the buzz generated on social media helps generate a lot of funds which ultimately turn out to be in favour of the firm’s financial interests. As the cliché goes, your network is your networth. The essence of networking lies in keeping in touch with people and making real connections that go beyond seeking mere favours. And this is what makes networking one of the non-profit strategies that will bring you returns in due time.
To be good at networking you need to remember one thing: you cannot reach out only when you need some favour. Keeping track of all connections on your social media or even a CRM tool really helps.
Committees and events
You can even build non-profit committees to manage events of a larger scale and focus on building relations. These committees will give you an edge with the variety of skills and expertise that each member brings to the table. With the right balance between different skill sets, it can create a synergy that will really make an impact on the target demographic as well as industry insiders. If your company is for profit, you can afford to hire experts with specialised skills for this purpose while if your company is non-profit, you can build these committees from within your volunteers.
Form Purposeful Partnerships
While non-profits are truly built on sharing, for profit businesses have a lot to gain from synergistic partnerships as well. Most non-profits function on knowledge sharing as well as resource sharing. While this may not directly benefit one cause, it may end up taking a related cause forward. When the Cystic Fibrosis Foundation spent millions of dollars researching on a medicine that ultimately did not end up helping cystic fibrosis, but thanks to knowledge sharing, it was discovered that the medicine was very beneficial for diabetes.
While most for profits think knowledge sharing may be against their interests, the millennial way of doing business clearly disagrees. Many bloggers and marketers are of the opinion that when they share data, processes, and ideas with similar business owners, the different perspectives often give shape to unforeseen solutions. Again, partnering with complementary businesses helps reach newer territories that was totally untouched before.
The world is getting a smaller place every day. If we can learn to see things differently., regardless of whether our business is for profit or not, we will continue to evolve and thrive.