September 2024 Roundtable on Business and Fund Development Campaigns
The presentation slides are available as an attachment at the end of this article.
The meeting delved into the diverse applications of PropFuel in business development, particularly emphasizing its role in sponsorship, exhibitor, and fundraising initiatives. The discussion was enriched with various client examples that showcased successful strategies and outcomes. One notable case was the GCUC Conference held in Salt Lake City, which employed a strategic single check-in approach to engage sponsor prospects. This method proved effective, yielding a 12% response rate and sparking interest from 11 new companies. The conference also offered premium sponsors the opportunity to use PropFuel for facilitating attendee meeting bookings, which resulted in 10% of the conference attendees scheduling meetings with sponsors. This approach highlighted the potential of PropFuel in enhancing sponsor engagement and maximizing conference outcomes.
Another example discussed was a magazine advertising campaign that adopted a multi-faceted approach, combining thought leadership articles with advertising opportunities. This strategy successfully garnered an 11% response rate, demonstrating the effectiveness of integrating content and advertising to attract interest. Additionally, the PayTech Women initiative targeted decision-makers at the C-suite and VP levels, employing a straightforward two-check-in campaign. Despite a modest 3% engagement rate, the campaign identified 20 hot prospects, with the potential to generate over $100K in revenue from even the lowest tier partnerships. These examples illustrated the versatility of PropFuel in addressing various business development needs and achieving tangible results.
The meeting also explored customer acquisition and retention strategies, with a focus on the Ohio Farm Bureau Health Insurance campaign. This initiative targeted a substantial member base of 33,000, achieving an 8% response rate and prompting 470 members to request quotes. The overwhelming response underscored the importance of managing volume effectively, suggesting the need to stagger quote requests. In addition to acquisition efforts, a retention campaign was conducted, which collected 31 testimonials and provided valuable feedback for program improvements. This dual approach highlighted the significance of engaging both potential and existing members to enhance customer satisfaction and loyalty, ultimately contributing to sustained growth.
Fundraising applications were another key topic of discussion, with Trout Unlimited’s planned giving campaign serving as a prime example. This sensitive two-check-in campaign aimed to include the organization in donors’ wills, offering nurture sequences and attorney referrals to facilitate the process. The campaign’s approach demonstrated the importance of sensitivity and support in fundraising efforts, particularly when dealing with personal matters such as will inclusion. Similarly, the Golf Course Superintendents Foundation conducted a research auction participation campaign, achieving a 32% response rate. Additionally, a donation request campaign resulted in a 97% yes rate, generating contributions from over 70 donors. These fundraising examples underscored the effectiveness of tailored strategies in engaging donors and securing contributions, highlighting the potential of PropFuel in supporting nonprofit initiatives.
The meeting concluded with an overview of recent platform updates and features designed to enhance user experience and streamline campaign management. These updates included new campaign organization tools, allowing users to create custom tabs and filters for better organization. An enhanced insights dashboard was also introduced, providing 30-day snapshots to offer users a quick overview of campaign performance. Additionally, improvements to the tagging system were highlighted, aimed at facilitating more efficient campaign tracking and management. These platform enhancements reflected PropFuel’s commitment to continuous improvement and user-centric development, ensuring that users can maximize the platform’s capabilities in their business development efforts.