Many businesses express their philanthropic intent by providing nonprofit customer’s special promotions. Read on to learn the benefits and challenges of discounts.
What is it? You offer your nonprofit customers an automatic price reduction. Adobe, for instance, “offers nonprofit pricing discounts. . .”
Pro: Nonprofits buy your services for less. You know the answer when prospects ask you for donations.And, when the cost is the deciding factor: they pick you.
Con: Discounts can increase price competition to your detriment. Besides, did you know that the best nonprofits shun discounts? These entities require top-notch resources. Discount signal second-class customer-ship.
Avoid The Bite: Instead of (or with a discount) consider offering inexpensive-to-you philanthropic benefits to differentiate your firm. How about redesigning an existing event so your nonprofits can mingle with potential donors? Or, endorsing a different nonprofit’s work in your publications every month?
Discounts represent one corporate philanthropy technique. All methods reflect your generosity. Each helps you to fulfill your corporate social responsibility. To learn more about how corporate philanthropy enhances profits and performance, download Can Philanthropy Actually Help Your Bottom Line?
Karen Eber Davis Consulting guides executive directors and CEOs to generate the resources, boards, and support they need to make remarkable progress on their missions. As the award-winning thought-leader, advisor, and founding principal of Karen Eber Davis Consulting, Karen helps nonprofit leaders get answers, generate revenue, and grow their mission. Davis is known for her innovation and practicality based on her work with or visits to over 1,000 nonprofit organizations and her experience leading board and team events. She is the author of 7 Nonprofit Income Streams and Let's Raise Nonprofit Millions Together.