With many charities struggling to maintain fund levels due to the recession, alternative revenue streams need to be sought and capitalized on to combat the continuing reduction in donations. Cint, a global provider of market insight tools, is therefore reminding not-for-profits that one viable way to boost revenue is via research panel ownership.
According to recent news reports, one in six charities is worried it might face closure as a result of dwindling donations, which are reported to have fallen by 20 percent over the last year. This means they must find new, innovative ways of raising funds and brand awareness.
A large number of organizations are already utilizing this option effectively and, in addition to generating income, such a community can be used to gather insight. Panel participants are typically supporters, such as volunteers, patrons and donors. Their opinions can be used to shape future fundraising events, marketing campaigns as well as serve as a reminder that their continued support is needed.
Owning an open panel means the opinions of the community can also be accessed by brands, publishers and entrepreneurs around the world that are seeking consumer insight with which to inform their business strategies. Simply, when a member of the charity’s panel completes a survey, the result is a ‘thank you’ payment for them as well as the not-for-profit panel owner. Additionally, the survey respondents often choose to donate their payments to the charity.
Cint’s CEO, Bo Mattsson, explains, “A large number of individuals, brands and businesses such as media outlets, carry out consumer research every day to gather insight on their offerings to determine marketing campaign strategies. Marketers want to turn to survey sampling options they trust, such as panels owned by respected and trusted organizations. Charities are able to provide a link to people who could be potential customers, in return for a respondent fee. Furthermore, the charity is also able to easily tap into their community’s views to inform its own activities.”
“Creation of panels is quick and easy with DIY market research tools, such as Cint Engage, and can be completely branded. When respondents answer survey questions, they are provided with a consistent look and feel from the organization. We find this is a really effective way for charities to boost loyalty as well as increase revenue.”
For further information, please visit www.cint.com.
Contact – Keredy Andrews – firstname.lastname@example.org – 0044 1858 411 600.