Owning a research panel can therefore generate a regular income for a non-profit organization, which can be used to continue providing services or can in fact offset the cost of undertaking market research.
Stockholm, Sweden (PRWEB) April 13, 2012
With charitable donations still yet to return to pre-recession levels, non-profit organizations not only have to attract new donors through more sophisticated marketing opportunities, they must also take advantage of prospects to create supplementary revenue streams, says global provider of market research tools, Cint.
The third sector has faced challenging times and many charitable organizations across the globe have reported funding crises. According to the Nonprofit Research Collaborative’s latest study from October 2011, 59 per cent of respondents (United States) said their charitable receipts for the first nine months of the year had not increased when compared to the previous year. Furthermore, organizations of all sizes anticipated 2012 would bring reduced revenue from various sources, including government funding and donations, while smaller charities thought they were more likely to cut budgets and services.
In the UK, the National Council of Voluntary Organisations predicted philanthropic support would fall by £1.4 billion due to the government’s new £50,000 cap on tax relief on donations to good causes. One such not-for-profit, Stewardship, found that more than a fifth of its donated income came from contributions that were higher than this amount and future donations could be severely affected.
In order to bolster income and avoid cutting much needed services through the current post-recession period, charities could better understand the opinions and standpoints of past, present and potential donors to identify what events or other activities would attract engagement. While gaining market insight can aid this process, research results can also be used to lobby administrations or businesses and owning a research panel can generate a regular income for the charity.
CEO of Cint, Bo Mattsson, explains how: “Each time a person who has registered for the charity’s research panel takes part in online surveys for others, a fee is generated for both the organization and the individual. Further to this revenue stream, the individual can choose to donate their fees. This means the person is helping to contribute to their charity of choice by using their time, perhaps when they are finding it difficult to make a monetary gift directly during this post-recession period.
“Owning a research panel can therefore generate a regular income for a non-profit organization, which can be used to continue providing services or can in fact offset the cost of undertaking market research to support marketing strategies or campaigning activities.”