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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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The Joy of LinkedIn Groups

February 4, 2014 by Dennis Fischman 5 Comments

If you think LinkedIn is only for seeking jobs or recruiting new employees, think again.  LinkedIn Groups is the social part of this social medium.  It’s the most fun you can have while networking, without leaving your desk.

Here’s what you do to enjoy LinkedIn Groups:

  1. Look for groups that share an interest with you and join them.  (For instance, I joined Social Media for Nonprofit Organizations.)
  2. Set up LinkedIn to send you a daily digest of the group by email.
  3. When you get the email, check the titles of the day’s posts.  Click on the ones that pertain to your business or your mission, or sometimes, just the ones that sound intriguing.
  4. Read the post.  Then–important!–read other people’s comments.
  5. Like posts and comments you think are especially good.  (This will show up in the activity feed on LinkedIn, so even people who aren’t in that group will see that you are taking part.)
  6. When you have something to add, write a comment of your own.  Aim to enrich the discussion with information or insights that you know especially well.
  7. When people like your comments or posts, invite them to connect with you on LinkedIn, and continue the conversation.

If you get to the point where you want to host the party instead of just showing up, start your own discussions in that Group.  But make sure you are asking a question that will actually spur discussion!

Results?  By identifying people who share your interests, and by making yourself respected for your expert and helpful advice, you will find potential clients, business partners, employers, and colleagues.  You will also acquire a group of advisors who give you their knowledge for free.

Come join me in LinkedIn Groups, and when you do, say hello!

 

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Six Ways Nonprofits Succeed on Social Media

August 13, 2013 by Dennis Fischman 5 Comments

It’s easy for a business to know whether or not they’re succeeding on social media.  After a reasonable amount of time on social media, the business makes more money.  For a business, that’s the meaning of success.  End of story.

Image

For nonprofits, it’s not so simple.  Nonprofits are mission-based organizations.  They need money to do their work, but the purpose of their work is not to make money.  When your “business” is arts, health, the environment, rights, or justice, what counts as success on social media?  Here are six signs of success.

  1. Mobilizing.  If your mission involves changing policy or institutions, you need people power to achieve it.  From calling Congress to getting out in the streets, getting people to take action is a measure of success for your social media efforts.
  2. Organizing. There’s power in numbers, and people taking direct action can succeed in changing things directly.  Boycotts can change the behavior of companies. Sit-down strikes can prevent foreclosures.  On the constructive side, people can get together to build houses, or to assist survivors of natural disasters.  Social media  have been indispensable in situations as varied as Occupy Wall Street and Superstorm Sandy.
  3. Changing the culture.  Some nonprofits work to change the way we think and behave.  In an earlier era, social marketing turned smoking from a widely accepted habit into a public health threat.  Today, social media are full of ongoing discussions aimed at changing our ideas about rape culture and body image.
  4. Sharing.  More people are seeing works of art online than in museums.  More get their news online than from newspapers.  Freecycle and similar email lists allow people to pick up goods they need for free, and every giveaway prevents a throwaway and reduces the waste stream. If your nonprofit is concerned with arts, public information, or the environment, social media may be part of how you do your work.
  5. Building assets.  A nonprofit’s greatest asset is often its reputation. As Nir Kossovsky has pointed out, your reputation may actually be worth money.  You may spend less on recruitment and purchase of services because the people with whom you do business know and trust your organization.  Employees may tolerate the low salaries typical of the nonprofit sector because they are proud to work for you, and you may acquire partners and funders because they want to be associated with you.  Social media are part of your brand, and they help build your reputation.
  6. And yes, making money!  Just because you’re a nonprofit doesn’t mean you can lose money.  As Robert Covitz writes, a nonprofit is “an organization that reinvests profits and donations into its programs, services, and personnel so as to better fulfill its mission and goals.” To reinvest, you must make a surplus to begin with.  Giving via social media is on the rise, and even the check in the mail is increasingly likely to arrive after the donor has learned about you on social media.

 

So, is your nonprofit succeeding on social media? Comment to tell us your success stories and the challenges you face.

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