Thanks to Cone and Intangible Business for a useful study ranking nonprofit brands. As the study states, “the findings present important lessons about the role both revenue and brand play in determining an organization’s value and growth opportunities.”
My advice is the same to nonprofits as it is to for-profits: Build stronger boards and board leadership in order to build your brand to achieve your greater potential.
My recommendations are based on experience working with national and regional chapters of nonprofits listed in the The Cone Nonprofit Power Brand 100, including many in the Top Ten, and also consulting to many other boards of directors of global, national, and regional nonprofits that are not on the list – including civic and cultural arts organizations, hospitals, and universities (the Cone list is strictly social, environmental, and/or animal-related services).
Here’s my advice to nonprofit CEOs and boards of directors:
· Only with the right organizational leadership – CEO and board chair, and the right board composition, with clear roles and responsibilities, and highly focused board agendas, can organizations build their brand to achieve their greatest potential.
With a board of committed individuals, with the expertise and experience that is needed, from diverse backgrounds and perspectives, an organization can successfully increase stakeholder engagement and loyalty, while also building a more robust revenue model in order to achieve both its mission and vision.
Just read Fast Company to see how quickly new brand names emerge and succeed, while old brand names (need I mention those in Detroit and Wall Street) plummet while their boards fail. It’s all about the board.