RACE is an acronym for four basic principles to keep in mind as you plan your marketing and communication efforts… REACH – ACTIVATE – CONVERT – ENGAGE. These four principals outline the process for effectively building and nurturing a donor or customer base.
Every organization needs to develop a strategy for ongoing donor or customer acquisition. Without the continual influx of new prospects, a donor or customer base will stagnate. The reach principle involves building a strategic lead generation or donor acquisition program. This is a systematic process to find new people and grow your organization’s donor or customer base.
Once you find new prospects, you need to inform them about your organization and the difference your organization will make in their life or the lives of others. This process of raising awareness and increasing understanding is fundamental to nurturing a prospect toward making a charitable gift or a purchase.
Once a foundation of understanding and appreciation for your organization has been laid, you will need to inspire the prospect to actually make a gift or purchase. There are a number of motivators that will inspire people into action – compassion, faith, fear, anger, and more. Find the motivator that is right for your organization and the offer you are making. Storytelling is the most powerful way to inspire people into action.
A cash transaction is not the end of a sales process – but rather the beginning of a new relationship. You now need to build trust and confidence with your new donor or customer. Careful and strategic communication is critical. By effectively managing the donor or customer communication process you can build friends and advocates for your organization. Look for ways you can bond with your new friend… appreciate them, involve them, invite them, share with them… Bonding will not only create enthusiastic advocates but also stimulate repeated transactions and referrals.
Whether you are a retail business, a ministry, a non-profit, or a corporation — these four principles are timeless and true. While the principles are simple, executing them can be a challenge. This is what Infinity Concepts does every day.
Let Infinity Concepts help you with your marketing and communication program.
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