WEAKNESSES OF FYD
The second letter of the acronym SWOT, stands for internal Weaknesses of an organization. Weaknesses can be either nonexistence of certain strengths or opposing side of an existing strength that is likely to cause a negative effect for a business. The weaknesses recognized in a SWOT analysis emphasis the areas an organization can improve upon to ensure stability of brand image, reputation and sales. It is important for a business as these are ‘internal’ and in direct control of the company.
Firstly, the key weakness of Foundation for Youth Development is the Limited Budget for Marketing (N. Davis, personal communication, March 13, 2015). Budgetary restrictions can be a substantial hindrance for an organization such as FYD …show more content…
Razor-sharp branding is essential for marketing, especially for an NFP organization such as FYD. It should not necessarily be aimed at fund raising, but take a more strategic approach such as to create superior social influence and organizational consistency. Today, this is practiced NFPO’s such as Oxfam International and GBCHealth. Branding in the context of NFP, is all about perception; which is initiated by every communication, every action and every interaction of the organization. Effective branding is what will distinguish FYD from other NFPO’s. FYD has already established successful partnerships with strong brands such has Carl’s Jr, Coca-Cola NZ, Devich Design, Express Couriers, Kmart, Move Logistics and Sinclair Knight Merz; but if the end customers (either sponsors or individual donors) do not identify the FYD brand and connect it with the organization, then they will not make a special effort to make a donation (ex. purchase a …show more content…
FYD has just 25% of repeat donors at the moment, and they do not have any feedback system or process in place to identify why the balance 75% of donors have left after their initial donations. If FYD has a proper feedback system in place to address this issue, to find causes and implement solutions, then FYD will be able to ensure more repeat donations and increase donor retention. Requesting donations from those who have already contributed is much easier and cost effective than finding new donors. FYD should focus on Donor Retention just as much as or even more so than Donor Acquisition. “If the importance of donor retention isn’t woven into your nonprofit’s culture, if creating deeper donor relationships isn’t as automatic as you checking email in the morning, if it’s not a top priority, you will never get better at fundraising” (Doolittle, n.d., p.
The second letter of the acronym SWOT, stands for internal Weaknesses of an organization. Weaknesses can be either nonexistence of certain strengths or opposing side of an existing strength that is likely to cause a negative effect for a business. The weaknesses recognized in a SWOT analysis emphasis the areas an organization can improve upon to ensure stability of brand image, reputation and sales. It is important for a business as these are ‘internal’ and in direct control of the company.
Firstly, the key weakness of Foundation for Youth Development is the Limited Budget for Marketing (N. Davis, personal communication, March 13, 2015). Budgetary restrictions can be a substantial hindrance for an organization such as FYD …show more content…
Razor-sharp branding is essential for marketing, especially for an NFP organization such as FYD. It should not necessarily be aimed at fund raising, but take a more strategic approach such as to create superior social influence and organizational consistency. Today, this is practiced NFPO’s such as Oxfam International and GBCHealth. Branding in the context of NFP, is all about perception; which is initiated by every communication, every action and every interaction of the organization. Effective branding is what will distinguish FYD from other NFPO’s. FYD has already established successful partnerships with strong brands such has Carl’s Jr, Coca-Cola NZ, Devich Design, Express Couriers, Kmart, Move Logistics and Sinclair Knight Merz; but if the end customers (either sponsors or individual donors) do not identify the FYD brand and connect it with the organization, then they will not make a special effort to make a donation (ex. purchase a …show more content…
FYD has just 25% of repeat donors at the moment, and they do not have any feedback system or process in place to identify why the balance 75% of donors have left after their initial donations. If FYD has a proper feedback system in place to address this issue, to find causes and implement solutions, then FYD will be able to ensure more repeat donations and increase donor retention. Requesting donations from those who have already contributed is much easier and cost effective than finding new donors. FYD should focus on Donor Retention just as much as or even more so than Donor Acquisition. “If the importance of donor retention isn’t woven into your nonprofit’s culture, if creating deeper donor relationships isn’t as automatic as you checking email in the morning, if it’s not a top priority, you will never get better at fundraising” (Doolittle, n.d., p.