Social enterprises have grown in popularity over the years. Some attribute this to the inability of governments to solve social issues in their countries (Entrepreneur.com). And to increased interests in giving back to society. But, no matter the reason, it is undeniable that social enterprises are competing amongst themselves and with for-profit businesses. This is seen not only in how they give back but also in acquiring funds for their operations. That’s why strategies to make social enterprises stand out are necessary.
In the year 2015, in America alone, over $373 billion was donated to non-profits. Individuals made up the bulk of that gift giving. And it is expected that foundation giving would grow the most in the ensuing year.
Source of data: Giving USATM
But despite the charitable donations to non-profits, the Global Entrepreneurship Monitor reported that “more than a third of the world’s social entrepreneurial ventures rely on government funding”. This makes it clear that social enterprises need to find other sources of revenue for their operations. Individuals and foundations are the types of donors, partners, and volunteers that social enterprises should want to attract. To do this, your social enterprise must be able to stand out and attract their attention.
Five Strategies to Make Your Social Enterprise Stand Out
- Brand Development
As a non-profit, much of what you do is immeasurable. The results are not necessarily tangible and easily translated to hard data that shows a true picture of your accomplishments. You, therefore, need to cultivate an image and build a reputable brand just as for-profit businesses do. Decide what you want to be known for and build from there.
- Forge Partnerships
A lot of companies like to be associated with socially conscious projects and brands. This also allows you to reach a new audience whether it is with the partnered institution or visitors to an event. The goodwill engendered from these activities will boost your brand image and go a far way in making your enterprise stand out.
- Get Involved
When you want others to get involved with your social enterprise, you need to be visible in the doing. By getting involved and participating in local events you increase your visibility. This is a tactic used by for-profit entities, large and small, and this is a strong reason why you should too.
- Build a Strong Digital Presence
A strong online presence will help to build your brand image. Social media sites such as Facebook, Instagram, Pinterest are all good at building a following and increasing engagement. But they are not yours. You still need to have your own website to provide valuable information on your enterprise. It is a necessity to build a credible social entrepreneurial brand. It helps with accountability and showing that you are dedicated to your enterprise.
- Use Online Tools
In the digital era, you must have online tools to build brand awareness and make your social enterprise stand out. Mobile apps and software are two of the main tools used by businesses to differentiate their brand from the competitor. They can also be designed as tools to improve operations and efficiency in your office or out in the field.
For a successful venture, you must stand out and engage your target audience by making your social enterprise visible. If you need help with developing your online tools and website presence, we would be happy to assist. After all, we want your social enterprise to make an impact and expand your reach.