How the Medical College of Virginia Foundation Uses Advertising to Build a Solid Foundation for Fundraising
The foundation that supports philanthropy at Virginia Commonwealth University Health deploys the same advertising strategies and tactics used to market service lines with the added benefit of building trust and reinforcing the mission and brand.
// By Susan Dubuque //
A recent report on philanthropy trends in the U.S. describes giving as “getting bigger and wider.” The proliferation of big-ticket donations continues, with billionaires pledging to give away their wealth. However, growth in donations is not limited to the super-rich. Online donation platforms and social media campaigns along with the can-do attitudes of younger generations are helping to democratize philanthropy.
For a number of years, foundations and fundraising were seen as “nice-to-have” but not essential functions. Today, health care organizations rely on the generosity of donors to help pay staff, secure new technology, enhance facilities, and support day-to-day operations.
With this new imperative, foundations can no longer depend on earned media and community outreach to achieve their fundraising goals. Eric Peters, vice president of communications for MCV Foundation, and his team have created a marketing model that includes an impressive paid advertising component.
“Advertising allows us to extend our reach — beyond the traditional grateful patients and alumni — and cultivate a whole new population of loyal and engaged donors,” says Peters.
Continue reading to learn how you can apply your advertising know-how to support fund development for your organization.