The Big Picture Part 1

The people at LEDC have lots of ideas and endless energy. This has made it harder than I thought to find a blance between taking their input and focusing on one idea to move forward. Somehow we always end up trying to incorporate everything in this one marketing plan!

We finally decided to go for a development (donor based strategy) rather than a volunteer based strategy. They have lots of initiatives on the volunteer fron at the momment and they want to make sure that they can cultivate and grow their relationships with current donors.

Here's the base that we have been moving forward with:

Business Objective: Increase unrestricted revenue for the Latino Economic Development Corporation with the goal of providing more comprehensive, better quality services to immigrant entrepreneurs.

Fundamental Entity: Latino Economic Development Corporation. I also considered defining the FE as one of the departments within the organization (business dept). The reasoning behind this is that the more measurable and specific that the beneficiary, the easier that it is for donors to identify which increases their likelihood to donate or engage with the cause (Kiva). However, for a small nonprofit it is much more beneficial to have unrestricted funds so as to fund where there is need within the organization.

Core Competence: Building relationships with Latino entrepreneurs. This is what the organization is known for. It is considered the place for the Latino community where they can get assistance and direction

Goal: TBD I’ve been brainstorming with people from the organization whether we should define the goal in terms of dollars, which would basically measure the year to year increase in unrestricted revenue, or whether we would be better of by defining the goal in terms of increase in donation from repeat donors from year to year

Time Frame: 2 years.

Category Definition: TBD

Strategic Quadrant: Retention Stimulate Demand. This strategy seems to make sense given that organizations become stronger when they have a more reliable source of revenue. The idea is to forge stronger relationships with current donors in order to retain them and make them repeat donors as well as having them increase their donation.

Customer Definition (Bodies): Current donors to LEDC

Behaviors: Current: I donated to LEDC this year Proposed: I donated to LEDC this year and I’m excited to increase my commitment to the organization for the next 5 years.

Beliefs: Before: I think there’s value in contributing to nonprofit organizations that focus on economic development. After: I want to commit to contributing to the Latino Economic Development Corporation for the next years.

Benefits: Donors: I’m having a positive impact on the lives of the less fortunate, while impacting the local economy by supporting the growth of local businesses.