While nonprofit organisations may seem as though they are a world away from private sector firms, there’s no doubt that charitable fundraising remains big business in the modern age.
The UK charity sector currently generates revenues in excess of £39 billion per annum, while more than 760,000 individuals are employed within this space. We’re also seeing a higher number of instances in which nonprofit organisations partner with private sector firms, blurring the lines between charitable giving and the world of big business.
In simple terms, for-profit businesses are increasingly active in helping charities achieve their objectives by lending their own expertise in social media and online marketing. Financial brokers are particularly well-placed to assist, and in this post, we’ll ask why this is the case.
Financial Brokers – Raising Awareness for Charitable Causes
When you consider the role of financial brokers in the charity sector, the first thing that comes to mind is fundraising. After all, brokers often act as mediators on behalf of their clients, dealing with lenders directly and organising various financing types. This type of service can easily be applied to charitable organisations, especially as they raise funds and build towards the practical accomplishment of goals.
Brokers can help in other ways, especially when it comes to networking on social media and raising awareness about specific causes. Charities rely almost entirely on public support in order to raise funds and build their audience. Social media provides them with the ideal opportunity to access potential followers from across the globe.
This is particularly true for charitable groups keen to engage a younger generation of supporters, with 80% of all 18 to 24-year olds using Facebook daily. A further 73% of all 25 to 34-year olds utilise Twitter regularly, highlighting the true potential of social media as a marketing and messaging tool.
So how can brokers help in this regard? By their very nature, successful brokers are gifted networking experts, as their business requires them to liaise regularly with clients and constantly build new relationships with lenders. As a result of this, we’ve seen brokers become increasingly prominent on social media, as market-leading brands look to build brand awareness, sell their services and engage the brightest industry talent.
There have been numerous examples in which brokers have actively assisted charitable organisations, too, with one the most notable coming two years ago. Back then, WH Ireland partnered with the Alexandra Sales Trust to raise funds and global awareness for a relatively unknown type of cancer known as Mastitis Rhabdomyosarcoma. Not only did the firm’s employees actively participate in a sponsored, 700km cycle ride from Paris to Avignon, for example, but the company also promoted the cause by using its widely-followed and integrated social media platform.
This campaign the practical ways in which brokers can help charities through social media, particularly by exposing messages to a large and motivated target audience.
The Last Word
Similarly, financial brokers can also lend their serious tone and professional networking skills to new causes, affording charities a level of marketing sophistication that they may otherwise lack.
There’s no doubt that this also a growing trend in the nonprofit sector, and we should expect similar collaborations and projects in the years ahead.