Finding and prioritising new audiences
The traditional approach to audience segmentation and targeting has led many charities to competing for an increasingly narrow and shrinking audience. Growth in income now depends on widening our perspectives – and changing our approach to the audiences we are already targeting. So what were are takeaways from our recent GOOD Bites session on this subject?
Break the decline
Top 100 charities have seen the longest fall in voluntary income for 100 years. Working harder and harder to achieve the best CPA and ROI from the same audiences with the same products is inhibiting performance, limiting value.
Make insight actionable
In this climate, charities need to be clear about where their growth opportunities lie and what strategies will unlock them. We showed how prospecting in the wider audience can create maps of opportunity for income growth through new revenue streams and maximising returns from fundraising programmes. By starting in a different place, with the audience behaviour changes required to build income, Chloe showed how to build actionable strategies from audience insight.
Break your beliefs
Attitudes drive behaviour. Behaviour drives attitudes. Attitudes and behaviours are changing and we need to break our assumptions about the attitudes and behaviours that drive decisions in our sector.
Make the most of opportunities
There is no substitute for spotting an opportunity. Understanding how audiences beliefs have changed is a vital ingredient in setting a platform both for innovation and for reaching your audience with the right messages. Tom showed how the Economist have embraced changing audience attitudes to shift their understanding and approach to recruiting subscribers both here in the UK and the USA.
Building winning product portfolios through and approach that is both systematic, to embrace change, and radical, to realise the wider audience opportunities is critical to growing income. We look at some of the routes to ideation preferred by the sector, why they are failing to break the downward spiral, and how we can build better, more innovative portfolios that build the emotional capital audiences crave.
If you would like to discuss this further please do get in touch.