2 obvious strategies you should’ve already been using
Everyone who is a parent of a student can relate. How many times during the school year do you get approached to support a cause? You already know what it’s like to feel obligated to support someone else’s child. Likewise, you know how it feels to have to ask others to support your child. One thing is for sure. We can all agree that there are plenty of school fundraisers out there.
It’s definitely a balancing act. You have to ask others for support while returning the favor. Thus we can agree that we’re driven to buy out of obligation. Returning the favor. But it seems to never end. What drives a lot of this is that many groups are stuck in a vicious cycle. Conducting one sale after another is the only way to reach their fundraising goals.
Yet is there any hope of getting off this treadmill that seems to go on forever? The answer is yes. There are ways to still meet your financial goals but with fewer fundraisers. If you have the courage to jump off and rethink your thought process, it is possible. Here are 2 ways you can put the brakes on fundraising while keeping everyone sane at the end of the day.
1. Choose Products that Sell
You’re most likely limited on the number of fundraisers you can have. So when choosing your product, be sure to do some research. It may seem logical but products that advertise more profit percent may not be your best option. Companies use this as a way to lure customers.
If you’re only looking at how much profit you make off each sale, you’re being short-sighted. Resist the urge to choose campaigns based on profit margin. Many times these types of programs can end up yielding less than intended sales results.
Think of it this way. Would you rather put more money in your pocket or make a higher profit percentage?
Consider the following 2 examples:
- Product A: Your group makes 50% off every sale. You end up selling 200 items priced at $10 a piece. Your profit would be $1,000 (200 items x $10 per item x 50% profit).
- Product B: You receive 40% off each sale. You then sell 350 items priced at $9 a piece. You would then profit $1,260 (350 items x $9 per item x 40% profit).
This is an oversimplified example, but you get the point. It could have been that people were more receptive to the less than $10 price point. Or, they may have just liked the product better.
How to choose the right school fundraiser
2. Let Your Buyers Decide
But are you choosing a product based on price? It’s tempting to do so, especially if you live in a socioeconomically challenged area. Keep in mind, in some cases, you may need to sell twice as much just to make the same amount of money. Resist selecting a product on price alone. Price doesn’t matter, especially when you’re selling something consumers might not want.
Have you considered taking a survey? Ask people what they would buy. The feedback you get back may surprise you. This does 3 things:
- Shows people that you are concerned about their needs.
- Helps you start advertising your sale before it starts.
- Gives you a better idea of what might sell best.
Varying the type of sale you do may also be a good idea. Do your homework by researching the various opportunities that are out there. And find out what a competing school is selling. You don’t want to duplicate it no matter how successful they are.