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By Matt Brannelly
The podcast currently has 7 episodes available.
With the increase in competition in every industry, companies are constantly looking for ways to make their brand relevant says Matthew Brannelly. Many of them re-strategize to change the brand identity through rebranding.
Rebranding requires a lot of investment and research. In fact, it takes some companies more than a year to fully carry out their plans. Because of that, every brand chooses to rebrand when they strongly believe the return of an investment will be worth it. Unfortunately, these rebranding projects often fail to live up to their business expectations.
While some rebranding fails because of lack of proper research and customer’s disengagement, others fail because the change is not necessary. Matthew Brannelly, the founder of Orbit and NFP hub, a company what works with NFPs to become more efficient and achieve their goals explains why rebranding often fails.
Lack of proper research
It is important to always carry out extensive research before changing anything about your brand. This will help you know what might not work for your brand. Rebranding can bring a huge growth, change, and customer’s enthusiasm to your business. But it can also be detrimental and cost the brand huge losses if the change is different from the customers' view about the brand. Extensive research will also avoid cultural and spiritual faux pas.
“Analyse your target market, know your competitors, and understand how customers perceive your brand. Understand the impact of rebranding on your customer’s feelings and analyse what their attitude will be towards it. This is important because many customers already have deep emotional bonds with your brand and rebranding can hurt their feelings,” Matthew Brannelly advises.
Using the wrong strategy
Using the wrong strategy can cause a lot of damage when rebranding. Evaluate the need for change from customers view, be sure it is the right decision, and look at the opportunities carefully. Moreover, a partnership is important. Therefore, you need to work with the right agency. Work hand in hand with your partners and be sure they are very objective, experienced, and committed to getting you the best result. Carefully study the market analysis and customers' reactions around your rebrand.
According to Matt Brannelly, nonprofits are confronted with an immense financial burden. The demand for services is at an all-time high, putting the burden on their resources as seeking external help is limited.
Nonprofits rely on donations, and during these health crises raising funds poses a significant challenge. The reports of The Salvation Army indicate that as compared to previous years, funding rising stooped to 18 %. But all credit to social media platforms, non-profit setups with strategies have been able to reach their fundraising and selling goals. During the pandemic, people have become relaxed with digital devices captivating the customer base for engagement.
An example that emerges is Orbit NFP Hub founded by Matt Brannelly provides professional help to non-profit organizations.
Social Media and their Benefits to Nonprofit Organizations
For a Nonprofit organization, it is an effective tool for marketing. The major advantages include
Numerous popular nonprofit organizations have working social media marketing methods for operating successful marketing modules says Matt Brannelly. Their philosophy is to ensure that an organization follows transparent protocols and opts for maximum efficiency. They have a network of professionals that enables an organization to align with its vision and mission statement.
The COVID-19 pandemic had a detrimental impact on the whole world. Affecting civilians, government organizations, and private organizations all alike. And to no surprise, the Nonprofits were no exception, says Matt Brannelly – strategic advisor from Australia.
A survey revealed by Orbit NFP Hub, an organization led by Matt Brannelly that helps nonprofits to become more efficient, showed a clear decline in revenue, individual giving, and grants that have consequently affected the services provided by them during the months of the COVID-19 pandemic. As such it also had an impact on the employment aspect of these nonprofit organizations and furloughing of employees and laying them off was a common sight.
Of the total number of respondents in this survey, conducted by Matt Brannelly and his team, 80% of the nonprofitsreported a decline in revenue generation through various means. The most apparent of them being revenue generation through different events and activities. This decrease in revenues naturally has affected the capacity of these organizations to retain their employees and 38% of them reported reducing their workforce. And furloughing their employees was the most common approach.
Added to these problems was the imbalance in demand and output. Reduced revenue and employees but the increased demand for services during the COVID-19 pandemic caused staff disruptions in these nonprofits. This hindered the realization of their goals.
But not all of the respondents were in a negative puddle. 25% of them reported an increase in employment during this period and 75% among them view such employees as a permanent addition to their workforce. Some organizations even have projected that they will reach their revenue goals. And even many others have opted to merge with partner organizations to continue providing their services and cut other costs. This step will also decrease the workload on individual employees during these trying times.
There will always be some important trends influencing business across the globe every year says Matthew Brannelly. While some are fleeting and don’t last long. Some trends are significant and seem to make an impact for a longer time. However, the trends brought about by the pandemic were not anything anyone ever bargained for. The rapid shift in consumer behavior was unprecedented and businesses were obliged to quickly adapt to these changes. These brought about trends across businesses of all sizes and industries and opportunities that can be leveraged to drive businesses forward.
Matthew Brannelly, the founder of Orbit NFP hub, an organization driven with passion in helping NFP (not-for-profit) organizations grow observes that these trends will impact significant growth during and after covid 19. You will need to understand the trends and technologies in order to ensure your business is moving in the right direction towards growth.
Here, Matt Brannelly provides pandemic business trends that are transforming the business landscape now and post-pandemic in Australia.
Digital Adoption
The closures of stores, brick and mortar businesses, malls, restaurants, gyms, and concern of personal safety have got consumers shifting online in a big way says Matt Brannelly. This means businesses that were still on the fence are left with no choice but to embrace online business in order to cater to their customer needs. In fact, during the 2020 Black Friday/Cyber Monday online shopping sales period, over 2 million Australian families have placed orders online. Australia witnessed a record-breaking online sales boom more than ever during the pandemic. The new normal is restaurants receiving takeaway orders online. Gyms providing virtual fitness classes, grocery stores shifting online for product ordering and delivery, and many more.
Work from Home
The transition to work from home is probably the most significant trend that is driving the new normal. Businesses are now experiencing firsthand that they do not need to be restricted to the four walls of the office before they can be productive. This has brought about flexibility in work arrangements. Although some are still wary of the good and bad that come with work from home brought, the pros sure outweigh the cons. Expect more companies allowing employees to work from home even after the pandemic ends.
Virtual Conferencing and Events
With social distancing, businesses have to embrace virtual conferences.” How can you attend a charity auction if you cannot go? How can you raise a charity fund if your partners are unable to attend? Nonprofits companies are turning to virtual gatherings not only to engage with the public but also to spark financial support”, Matthew Brannelly explains.
According to Matt Brannelly, the most recent lesson on the importance of business ethics came with the Wall Street collapse, as once highly esteemed financial institutions made headlines for their bad choices and questionable behavior.
People with integrity value other principles, including honesty, respect, personal responsibility, compassion, and dependability. These qualities are integrated into the Six Pillars of Character, a nonprofit organization that develops and delivers services and materials to increase ethical commitment. The pillars are:
1) Trustworthiness
2) Respect
3) Responsibility
4) Fairness
5) Caring
6) Citizenship
The overriding principle that you have as an individual is you have to make the right decision, says Matt Brannelly, strategic advisor from Australia. That is sometimes very difficult because a decision may be easier, but it is not right. So it takes more of a personal challenge to do the right decision.
Know with Matt Brannelly, how nonprofit organisations can take advantage of solar energy to generate electricity. This question is no surprise as many organisations, private businesses, schools, stores and homeowners are already embracing the clean energy. Solar power becomes the key to saving overhead cost and promoting corporate responsibility.
If profit-based organisation are adopting clean solar energy, why won’t non-profit? After all, less money spent on electricity translates to more money available to carry out the mission .
Here with is Matt Brannelly, the founder of Orbit NFP hub-a company with a long history of helping nonprofit organisations whether to decrease costs, boost revenue or provide expert tips and best practices. This expert shedsmore light on how non-profits can go green by employing solar energy and its benefits. Keep reading!
Lower Energy cost
As longs as your organization is in business, you will always have the need for electricity with more bills to pay says Matt Brannelly. This can be quite frustrating especially for a company that isn’t based on profit. Hence, how can you reduce bills and still enjoy electricity? Go solar!
When you incorporate solar power instead of relying on the utility company, you can reduce your electricity cost and even save up to 50% on electricity. As long as there is sun ,there is always be energy to power your electricity. And when the night dawns or there is less sunlight, you can always fall back to solar energy battery storage for help. This is the best investment you can do for your business, your pocket and even the planet earth.
According to the founder of Orbit NFP Hub – Matt Brannelly, nonprofit organisations often get confused by their own title. By definition they are established to achieve a community outcome as opposed to make a profit for commercial reasons. “Their goal is to carry out charitable activities and make an impact. This can be protecting children, preventing animal cruelty, giving out scholarships, organising free workshops and educational programs and many more” he adds.
The word nonprofit also indicates that these entities are given tax-exempt status and all revenue generated by them are used to benefit the public. They also do not usually make money the traditional way but that doesn’t mean they don’t make money at all. They generally generate money from the state and federal government and donations from other parties. They also acquire money from foundations and selling of products and services.
Before going further, note that Orbit NFP Hub is founded by Matt Brannelly. It’s a social enterprise established to help NFPs decrease costs and create new revenue streams with advice from industry experts. With that said, read on as Matt Brannelly takes us through various ways how nonprofit organisations create revenue.
1. Grants
Grants are non-returnable funds given by the government, philanthropic organisation, trust, or cooperation to a nonprofit organisation says Matt Brannelly. They are generally granted to them by applying for the grant made available by those entities. They also seek grants from private foundations and these grants are often given for the funding of a specific project, explained Matt Brannelly. However, to avail of this, it takes a lengthy process and it is for a limited time.
2. Individual Donations
Nonprofits make profits through donations. These donations are used by the organisation to fund their event and achieve their goal. Research has shown that individual donation makes up a large proportion of nonprofit organisation income. Funds given by foundations and other corporations are usually for a specific event. This is why most nonprofit organisation build a close relationship with their supporters and allow them to interact with them freely. These supporters have also proven to be the best volunteer and they often stick around for a long time. Nonprofit organisations also encourage their individual donors to attend their events, make either recurring donations, or donate online and many more ways.
The podcast currently has 7 episodes available.