One of the critical parts for D'Hearty business performance is to get the trust from potential contributor. This is because the non-profit organizations are really depending upon contributions from the public who are willing to do charity. There will be several basic difficulties to focus on target market include: the fact that third parties (not the contributors) are usually the direct beneficiaries, the intangible nature of benefit appeals to the contributors, and the demographic and lifestyle heterogeneity of the contributing public.
It is fundamental to develop an analysation on how to identify the market contributor segmentation to fund raising for charities and another non-profit organisation. This is to ensure D'Hearty marketing is effective by considering who will be our organisation's customers and how to target them into a clear category. Segmentation is seeming to be the most effective tool in leading to target the customers' ad fundraiser for D'Hearty marketing. By using the concept on market segmentation, such organizations can aim their efforts toward those target segments most favourable to the particular philanthropy.
D'Hearty will do the segmentation of potential fund-raiser by using the following categories:
• Geography: national, regional, urban/rural, density, climate, etc.
• Socio-demography: age, sex, family, size, income, occupation, social class, etc.
• Psychographic: lifestyle, personality, attitudes, etc.
• Behaviour: benefits being sought, purchasing rate, usage rate, etc.
Since D'Hearty will provide our service coverage is expanded till the South East region, we will identify the following segments which prompt choices of which to target:
• Region: D'Hearty will provide the service as fundraising mediator all over the South East region countries. Therefore, D'Hearty should identify the personal or organisation from government and non-government to be as fundraiser.
• Settings within the region; urban or rural
The type of people it will concentrate on; small holders or small traders or destitute people
• Mode of working; prevention or amelioration; start up support or rescue support.
4.2 Performing segmentation and target marketing
Segmentation of target market for D'Hearty has been defined based on our overall objectives. D'Hearty also has made clear the certain area for us to deliver the contribution to specialised groups of needy people such as bankruptcy personnel, poverty community at remote area, students who don't have enough support and for elderly people who has no income to live for basic needs, animal welfare and other groups of categories. From here we can foresee who is the target market to be as fundraiser based on the specific categories?
As a non-profit sector, there are six stages of segmentation and targeting:
1. Market segmentation
Identify bases for segmenting the market
Example: For bankruptcy personnel. We can approach the potential fund raiser from personal or organisation (government or non-government) who actually has a big capital to help this category of needy personnel to provide some small business capital as a starter to improve their financial.
2. Develop profiles of the previous segments
Concentrate on numbers in the segment, those that we sense are under-served/under-asked.
3. Develop measures of segment attractiveness
That is, how much in need are they? How reachable are they?
Example: for fundraising, do they tend to give more than average, do they have a special empathy with the needy cause?
4. Select the target market(s)
Factor together D'Hearty mission, objectives, segment attractiveness, the number of other organisations operating with that segment etc.
5. Develop Positioning for each target market.
In other words, how do we want this segment to think about D'Hearty and the benefits we can give them?
6. Develop the marketing mix for each chosen target market
Define the product's (goods, service or idea) attributes in a way which fulfils your organisational objectives and satisfies the customer's needs.
4.3 Market Competition
In line with the growing information technology day by day, crowdfunding system which is a practice of funding a venture by raising money from a large number of people, has grown in popularity as of late. Not to be left behind, Malaysia also has its very own crowdfunding websites and of course they are the nearest competitor to D'Hearty. Here are 6 top crowdfunding websites based on traffic as rated by online sources recently in Malaysia:
1. MERCY Malaysia (www.mercy.org.my)
Began in 1999, amidst a raging war in Kosovo where thousands of lives were lost and suffering was widespread. Moved by the plight of countless innocent civilians, especially women and children, Dr. Jemilah Mahmood, a Malaysian obstetrician-gynaecologist, sought to offer her services voluntarily. Finding no national organisation ready to support such international crises, together with a handful of like-minded friends, the Malaysian Medical Relief Society – better known today as MERCY Malaysia – was established. MERCY Malaysia aimed to provide a platform for Malaysians to unite and take their role in the international humanitarian arena. Dr. Jemilah Mahmood led the first mission to Kosovo in June of 1999. Several missions followed and teams were made up of Malaysians from all walks of life with the single goal of helping others, regardless of race, religion, culture or boundary.
2. Hati.my (www.hati.my)
This organisation offers solution to the lack centralised information on charities and non-profit organisation in Malaysia. When a volunteer or donor wants to help underserved communities, it is often difficult to find information as data is not in one place. Hati.my offers volunteers, donor and charities to find information and updates their needs readily. It is also highlighted the small charities such as those who are too busy to caring for their dependants and have limited time to publicising their needs.
3. World Vision Malaysia (www.worldvision.com.my/)
World Vision Malaysia (WVM) was set up in 1997 as a Support Office within the partnership of World Vision International, with the primary focus of growing the child sponsorship programme amongst Malaysians and its neighbours. Over the years, WVM expanded to cover community transformational development programmes, specific advocacy initiatives and emergency response. As a Support Office, the main role of WVM is fund-raising. Through a variety of awareness and fund-raising campaigns and partnerships with individuals and corporations, WVM reaches out to the poor, working with them to build a sustainable future and to provide them with access to health care, water, nutrition, basic education and economic transformation.
4. SkolaFund Sdn Bhd (www.skolafund.com)
Co-founded by current CEO, Tengku Syamil and his friend, Syakir Hashim in 2015, the Skolafund platform matches deserving underprivileged undergrads with potential funders. Essentially, Skolafund allows students wishing to pursue a tertiary education to raise funds for their personal tuition fees or other possible education-related expenses. Skolafund provides solutions that address disadvantages related to the conventional merit-based scholarship system by connecting philanthropists and corporations with candidates from low income to average income families who have been vetted and demonstrate a genuine financial need.
5. Charity Malaysia (now everyone can donate) (www.charitymalaysia.com)
The CharityMalaysia.com domain name was created on 1st December 2006. We officially launched Charity Malaysia on July 8, 2007. Basically, this organisation has its own objectives:
I. Allow needy people and organisations to raise funds easily, safely, conveniently and efficiently.
II. Allow funds from donors and philanthropists to reach the needy in a secure and efficient manner.
The creators of this site had the following objectives:
a) To help prevent public donations from ending up in the pockets of people who least need help.
b) To set a standard in professional fund-raising.
c) To break new ground to be ethical and accountable in an area of philanthropy where there are currently no laws governing the way funds can be raised or used.
d) To provide an alternative for NGOs and charitable bodies for professional fundraising.
e) To be fully transparent to both charitable organisations and donors. We will let you how much of your precious resources have gone to the charities as well as how much we have received.
f) To assist the authorities to monitor funds disbursed by us, in order to prevent abuse.
g) To assist small charities like orphanages in the big task of fundraising.
h) To keep and allow donors to search for information on the latest urgent and deserving cases of charity. They usually appear in the media. However, by the time the donors manage to find the time and resources they are not able to easily trace and channel their funds to these worthy causes.
6. Unicef Malaysia (www.unicef.org/malaysia)
For the 2016-2020 Country Program, the priorities of this organisation are directly in line with the strategic directions of the Eleventh Malaysia Plan (10MP), which is the key development strategy and planning instrument of the Government of Malaysia. UNICEF collaborates with Malaysian partners in government, corporations or civil society organisations and honoured to be part of Malaysia's journey to improve the lives of its children while developing the nation.
There a lot more crowdfunding website that is expected to grow heavily in the future. However, D'Hearty is very optimistic to compete with the existing crowdfunding because of its own advantage. For successful crowdfunding companies, the core of the exchange between them and their customers is the exchange of benefits.
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