New Way to Raise Funds for Nonprofits, Part 1

Ah, the joys of Academic Life. I have enjoyed a wonderful Spring Break, but now, back to work.

I’ve started becoming very interested in new ways for nonprofits to raise money, based on techniques of internet marketing. The principles of “regular” marketing apply as well, and are well known, but I believe I’m on to something that hasn’t been explored before.

Let’s look at Affiliate Marketing as an example.

What is Affiliate Marketing? Affiliate marketing is when an organization has a link on its website that links to another organization or busiiness that sells a product or service. If a person buys a product or service after clicking on that link, the seller gives a percentage of the sale price to the nonprofit.

How could this work? A nonprofit organization might be having a person come speak to a fundraising dinner. As part of the publicity for the fundraising dinner, the nonprofit could have a link on its site that goes to the speaker’s website. Anyone who books that same speaker after clicking on that link could expect that a portion of the speaker’s fee would be channeled back to the nonprofit.

And if the speaker had written a book, the event website could have a link to the Amazon.com website (if the nonprofit organization had become an affilate, through a separate process). Each book that was purchased through the link would also result in a portion of the purchase price being given to the nonprofit.

Some nonprofits already use affiliate marketing, at least to a limited extent. But this is an extremely painless way of generating additional income that can be tied to existiing fundraising efforts.

More on new fundraising ideas soon. Feel free to send this, and any other posts to nonprofits you may know that could use a boost in contributions. I’m also available for consulting with nonprofits about how to implement these ideas.

Using knowledge for success,

Dr. Rick Hoefer

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