Recently, Forbes published an article called “Top 5 Trends for Marketers and Entrepreneurs In 2018.” I find these trends to be very encouraging for nonprofits. The market is moving towards nonprofits, and – for a change – the nonprofit industry is well-positioned to leverage the trends that Forbes describes.
Trend One: We are in an experience economy. Antiquated rules of engagement no longer apply.
Nonprofit organizations have never been in the business of selling a product. So, the “antiquated rules of engagement” have never applied. Rather, nonprofit organizations have had to focus on the intangible of the giving experience. Chalk up a point in your favor.
However, we don’t get off the hook that easily. Though nonprofits intrinsically understand the importance of the donor experience, they don’t typically budget funds towards understanding and improving the donor experience. That point goes to our friends in the commercial space. They are much more deliberate about understanding the customer experience.
What should nonprofit organizations do? They need to go behind the donor analytics and tie those findings to the donor experience. It sounds hard, but it really isn’t. And with the technological research tools of today, it’s easier and more affordable than ever before.
First, you need to commit some resources to understanding your donors’ experience.
We suggest you begin by benchmarking your donors’ experience at every place you intersect with them. Only after you have benchmarked and understand the donor experience can you can improve on the donor experience and maximize engagement.
Stay tuned for Trend 2: In the age of experience, EVERYONE is a customer.