In the business world it is vital to know what your competition is doing… ALWAYS. Vying for consumer dollars in a competitive marketplace mandates that corporate managers know exactly what their competitors are doing and how they stack up. If they produce a lesser product or service, it makes sense that they will lose the sale to the other guy.
Similarly, in the world of philanthropy, we must remain mindful of what other organizations are doing – especially in the development of their stewardship programs and their recognition levels. While philanthropic giving has many more variables than a simple business transaction, it is still important to provide the donor with great service and value. Having an idea of what other charitable organizations are doing in terms of recognition is important information to have and to consider when developing a program that will appeal to your potential donor. It is always good to know what groups similar to yours are doing, but what some non-profits don’t realize is that it is also important and very helpful to know what different types of groups are doing. Having a broad spectrum of information to pull from allows the Development team to design – for lack of a better word, “competitive” – donor recognition packages which will excite and appeal to prospects at all levels. Firms like The Giving Collaborative, who work across various sectors of non-profit organizations, have access to this type of bench marking information and can provide comprehensive guidance when designing donor recognition packages. Let us know if we can help you become more competitive.