In their thought-provoking book, Blue Ocean Strategy, authors W. Chan Kim and Renee Mauborgone explore several strategic marketing paths:
a) Red Oceans = spaces that are crowded with undifferentiated competing organizations battling for share of a finite pie.
b) Blue Oceans = uncontested and unique spaces that allow for special, enduring relationships with customers and rapid revenue growth.
For nonprofit fundraising professionals, the challenge is to differentiate one’s university or organization from the other giving options of individual donors.
Two things are especially critical to make that differentiation happen and to translate it to fundraising success:
- Story - Telling and selling your nonprofit’s story in an unexpected and compelling way.
- Process - Making it easy for supporters to start giving, continue giving and stay engaged.
Branded monthly giving programs provide a unique story-telling platform and donor-easy processes.
Bottom line, it’s much more fun to swim in a Blue Ocean.