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Your Most Valuable Asset is Something You Don’t Own

September 2, 2014 by Dennis Fischman Leave a Comment

Workers walked out at seventy Market Basket supermarkets in June. Today, they are going back to work on their own terms.

The majority shareholders have agreed to sell their stake in Market Basket to the once-and-future CEO, Arthur T. Demoulas. That was the workers’ sole demand.

Why did Market Basket have to cave? The company still owned the stores and the valuable land on which they were built. It had plenty of money in the bank.

What it didn’t own was the company’s reputation.

Read more at http://www.trippbraden.com/2014/09/02/most-valuable-asset/.

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What Kind of Communicator are You, Anyway?

April 7, 2014 by Dennis Fischman 4 Comments

So a nonprofit has hired you as its communications consultant, or maybe even its Director of Communications.  But what do they really want from you?

Do they want you to help them raise funds?  To promote their programs?  Or to engage the broader community?

It’s vital that you find out.

Raising Funds, or Building Community?

Author Kivi Leroux Miller says whether you’re a fundraising communicator or a brand-builder/community-builder affects everything you do.

If you’re a fundraising communicator, then most likely:

  • You work for a smaller organization that can’t afford separate staff for both development and communications.
  • You focus on people ages 55+, because they give more money.
  • You use print and email marketing, and you send out direct mail appeals.
  • You also use phone banks and events.
  • You may “be on” social media but you’re cautious about it and see it as a lower priority.

But if you’re a brand builder or community builder, then probably:

  • You work for a larger organization (at least a $1 million budget), and your organization has a written marketing plan.
  • You focus on people under age 55, for the life-long value of the relationship.
  • You see volunteering (including advocacy and fundraising with friends) as equally important with immediate donations.
  • You do more content marketing than asking.  You tell more often than you sell.
  • You use social media regularly, and you aim to engage your community–not just do outreach.

Why It Matters

You need to know which kind of communicator you are, so you know how to direct your effort.  And the client or the employer needs to know too–so they can define what counts as success.

But what if you’re asked to do both? According to Kivi’s estimate, about half of us are asked to do both.  She says:

These communicators are the ones I worry most about, because their jobs are much more likely to be poorly defined, and therefore they are much more likely to burn out and hate their jobs.  We need all the creative, dedicated people we can get in this work, so I don’t want this to happen!

What kind of communicator are you?  Have you been in an organization that didn’t make your role clear?  How did you cope?

 

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The Cash Value of a Good Reputation

March 24, 2014 by Dennis Fischman 1 Comment

Why does it matter what people think of your organization?

Ask Brandon LaFell.  He used play wide receiver for the Carolina Panthers.  He chose to play for the New England Patriots this year because “These guys were winning up here the last 10-plus years. So why not come to a winning organization?”

Brandon LaFell

Do people see you as a winning organization? 

According to Dr. Nir Kossovsky, there’s an easy way to tell the value of your reputation.  If you have a good reputation, people will give you better deals.

The Patriots are able to get better players for less money.  What does a good reputation get your nonprofit?

Kossovsky says:

  • You can hire and retain good employees for less when they expect your company will be a great place to work (and their expectations are fulfilled).
  • Suppliers and vendors also charge less when they trust you, and they charge more when they think you are the proverbial pain in the ass to work with.
  • Even creditors, who are as unsentimental as anyone in business, give a reputation discount.  And nonprofits start out with a good reputation because people know they are devoted to a mission.

 

How do you get full value out of your reputation?

Your communications are vital to the financial health of your nonprofit organization.  Investing in better communications makes financial sense.

A good first step would be to read “Hiring a Communications Consultant: What to Look For.”  Then, drop me a line and ask me for a free 15-minute consultation: [email protected].  I’ll help you make your good name your greatest asset.

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