Today’s retailers are faced with a number of changes that positively and negatively impact growth. On one hand, a volatile macro-economic environment and profitability challenges create pressure on traditional retail models. On the other hand, the proliferation of digital and social channels, along with changing consumer segmentation and preferences, create opportunities for those that embrace change.
How do retailers effectively navigate this complex environment? Analytics provide the answer to retail’s critical challenges:
The use of Macroeconomic factors like GDP, S&P 500 Index, Tax Policy, interest rates, unemployment rates, and population growth
Competitiveness; versus key competitors, across major areas of fundraising investments – Media channels like DRTV, Digital and Mobile channels, PR, Partnerships, new channels like crowd sourcing, social, ALSO content and targeted messaging
Brand Equity; it’s no longer enough to focus on just short-term revenue performance. The strength or longer-term value of the (Charity) Brand and the organizations ability to calculate and leverage that value as part of its on-going investment and programming strategy is critical.
Today, Giving USA 2018 (the industry standard report), tells us that American’s gave over $400 B in contributions across the board (individuals, foundations, bequests, and corporations), a new record, driven principally by the stock market, tax policy changes and surging economic conditions. The report goes on to say that this broad growth in giving is to virtually all charitable subsectors suggesting that charities are connecting effectively with their donors and demonstrating their impact and case for support…BUT not all types of recipient organizations are experiencing growth of 5% or more AND certainly not at the level of many top, mega donor funded foundations with (15%+).
How long and high will this rising tide run? How long until many non-profits are again facing challenges in the form of lackluster revenue growth and declining donor files. How can NGO’s benefit more today, predict better outcomes and future proof themselves by investing in their brand and ways to achieve and sustain share of giving advantage going forward?
These answers are at the heart of better data integration, advanced analytics and optimization, including the skillsets to address and activate change in your sector. If you’re overly focused on Microeconomic factors, burdened by traditional benchmarks or internal tactics that have run their course then Truesight Consulting can help. Insights, simulations and predictions from advanced models and optimization tools and the training to help you put it to use are at the core of our business.