McKinsey built an $11B brand by leaving nothing to chance. Not even building trust. Can nonprofits learn from their model?
Here's the formula they've distilled:
TRUST =
(CREDIBILITY x RELIABILITY x INTIMACY)
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SELF-ORIENTATION
On today's episode, Louis applies the trust formula to formula—and goes through a scorecard of the nonprofit sector. What do you think?
CREDIBILITY
✔ Most large, established nonprofits (universities, healthcare orgs) still possess a lot of credibility, although…
❌They could do more to honestly characterize its limits.
RELIABILITY
❌Lots of progress needed in this area. Calls that go unanswered, reports that are promised and then never arrive…
INTIMACY
✔ Kudos to the development profession for trying to overcome this, but…
❌ Overall, nonprofits have serious intimacy problems ;-) This is why video and social media are powerful trust-building tools
❌ In general, I would say we’re not generally perceived as being open to external input
SELF-ORIENTATION
✔ This is kind of the crux of donor-centered fundraising. Align with the donor’s goals, and yet…
❌ The perception from the vast majority of our constituents beyond the tip of the pyramid is that we only show up when we want money
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ABOUT
Louis Diez advises nonprofits in annual fund development, digital fundraising, and engagement strategies. He's the founder and host of the Donor Participation Project and VP, Community at Almabase.
Mike Duerksen is the founder and CEO of BuildGood, a fundraising agency that helps nonprofits raise more money from individual donors. He also hosts the Build Good Fundraising Podcast.
