134: What Is A Transformational Economy, And How Can It Help A Nonprofit?, Interview With Mark S.A. Smith, Co-Founder Of Nimbility Works

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Join me on the Fast Track to Grant Writer www teresahuff com vip The collective values and priorities of a society change with each generation We express our values with our time and money so those values then drive the economy through the demand for relevant products and services With each economic shift the value proposition and marketing methods adapt to the current priorities to provide the most perceived value As a nonprofit you want to be on the peak of the value curve During our discussion Mark provided a journey of economic shifts through the history of America to help us understand where we are today and how nonprofits can take advantage of the current transformational economy to engage supporters Join us for a journey through history to discover how you can help your nonprofit grow using assets you already have on hand What is the Transformational Economy Civilizations start as tribes in the subsistence economy where we get enough to meet our needs and live The goal is to say I m alive As tribes settle we move to the commodity economy where we harvest commodities such as crops wood and mining to buy and trade The goal is to say I m productive As the value of commodities increases people move into the product economy where we buy labor savings So instead of making your own products we buy products someone else made The goal is to say I m efficient In the United States we shifted to the product economy during the Industrial Revolution As the need for products is met we shift to the service economy where we free up time by paying for services we previously did on our own Then we moved to the experience economy where people wanted more than a service they wanted a memorable service Now we are living in a transformational economy where people want more than interesting memories They want authentic meaningful experiences to make things better whether it s improving themselves their workplace their family their community or the world This is what people are craving and paying for today so rapidly growing companies are providing an opportunity for their customers to be better people through their products and services How the Transformational Economy Can Help a Nonprofit The marketing efforts of nonprofits have operated on a service economy mindset where we focus our recruitment messaging on the services we provide But since we are in the business of transformation it should feel natural to embrace the shift and showcase how a contributor makes the world a better place by supporting our cause However amid this shift nonprofit organizations face a larger struggle to be heard through the noise with minimal marketing dollars So how does a nonprofit get and sustain supporters attention long enough to appeal to their sense of purpose The Power of Story to Embrace the Transformational Economy The most powerful and entertaining way to showcase transformation is through storytelling Mark explained You can t sell transformation with features advantages and benefits A person will not understand until they have been through the experience How we do that is by telling a story of somebody who has been through the transformation You have to tell it as a hero s journey To read today s full episode What is a Transformational Economy and How Can it Help a Nonprofit Challenge Question What is a recent initiative you can search for stories of transformation Connect with Teresa Huff Website www teresahuff com Watch the TEDx The Real ROI of Grant Writing Take the Quiz Do you have what it takes to be a grant writer Social LinkedIn Community LinkedIn Instagram Pinterest YouTube Get on the Fast Track to Grant Writer www teresahuff com vip Click here to visit this podcast episode