Research and produced by… © Laurence Verga Consulting - 2010 Sponsored by
3 Barriers That Are Stopping Critical Funding  An informative study on the disturbing trends facing funding directors
Trends over time affecting funding directors… © Laurence Verga Consulting - 2010
Stress levels are SOARING… WHY? <ul><li>According to a 2009 non-profit organization survey…  </li></ul><ul><li>80%  report...
Financing from non-operating funds is seriously low… <ul><li>According to the American Hospital Association, from 1988 to ...
And… Charitable contributions are decreasing <ul><li>From 2008 to 2009…  </li></ul><ul><li>30%  of hospitals had a moderat...
More regulations don’t help the issue, but they  ARE  and  WILL  increase… <ul><li>In 2010, the health care industry was  ...
So, organizations are trying to do more with less, however, healthcare costs are skyrocketing <ul><li>Source: Supplementar...
Which drives up healthcare facilities costs  <ul><li>From 2004 to 2008,  64%  of growth for  healthcare facility spending ...
Because of these issues many are in the red <ul><li>2007:  31%  of hospitals had a  negative total margin </li></ul><ul><l...
So, they look to volunteers to lighten the burden <ul><li>Volunteering increased by  1.6 million  from 2008 to 2009 </li><...
Barrier No. 1 Sales Force © Laurence Verga Consulting - 2010
The right people need to be in the right seats <ul><li>A study concerning business failures showed, </li></ul><ul><li>56% ...
Insufficient tools and advice limit success <ul><li>The control group of a study, who  did not  receive coaching demonstra...
Low producing sales teams don’t have a clear goal <ul><li>A survey showed… </li></ul><ul><li>99%  of businesses  don’t  ha...
Question? <ul><li>What Is Your Ultimate Business Strategy? </li></ul><ul><li>Source: Source: Inc.com, “Most business owner...
The wrong impressions are often made <ul><ul><li>91%  of  unhappy  clients will  never   do business with you again </li><...
Barrier No. 2 Marketing © Laurence Verga Consulting - 2010
Marketing competition is fierce <ul><li>In 1971, the average American  saw  560   advertisements per day </li></ul><ul><li...
However, many don’t market effectively because a marketing plan is missing <ul><li>A study showed…  </li></ul><ul><li>35% ...
The results… Over $112 billion is WASTED  on advertising each year <ul><li>A study of companies with a total of  $1 billio...
Barrier No. 3 Affiliations © Laurence Verga Consulting - 2010
Having the right affiliations portrays credibility to others and opens the door to increased… <ul><li>Donations  </li></ul...
The right affiliations are key <ul><li>“ Affiliating  yourself with an organization or obtaining a fiscal sponsor can  inc...
All of these challenges result in… <ul><li>Inefficient operations , failure to meet your business goals and ultimately  st...
Steps to overcome these challenges
Build a strong team © Laurence Verga Consulting - 2010
Start by implementing a plan <ul><li>A study revealed, businesses who begin with a plan decrease likelihood of failure by ...
Recognize your sales personnel need specific training <ul><li>Compared to other groups, your  sales team often  requires  ...
What critical skill sets need to be taught? <ul><li>Spanning communication  </li></ul><ul><li>Sales tactics  </li></ul><ul...
How are the right skills learned? <ul><li>In-depth on-the-job training </li></ul><ul><li>Individual instruction </li></ul>...
Portray the right message © Laurence Verga Consulting - 2010
Connect with your clients to gain results <ul><li>Healthcare organizations who use successful  Customer Relationship Manag...
How do you portray an effective message? <ul><ul><li>Know your audience </li></ul></ul><ul><ul><li>Focus on your marketing...
What else? <ul><ul><li>Utilize integrated marketing </li></ul></ul><ul><ul><ul><li>Use multiple media  sources to meet you...
Gain Strong Affiliations And Funding By Partnering With An Industry Expert © Laurence Verga Consulting - 2010
An industry expert makes all the difference <ul><li>Non-profit organizations gain approximately   $40 Million  from fund r...
And now a word from our sponsor… © Laurence Verga Consulting - 2010 This study discussed how to find  TRUE VALUE ,  NEW ID...
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Don't Miss Out On Billions in Revenue

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Non profit organizations and hospitals are losing valuable resources and the end patient/client is suffering. With funding dollars dropping it's time to embrace educational based marketing and build corporate partnership that are sustainable.

Differentiate yourself from your competitors!

Published in: Business, Health & Medicine
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Don't Miss Out On Billions in Revenue

  1. 1. Research and produced by… © Laurence Verga Consulting - 2010 Sponsored by
  2. 2. 3 Barriers That Are Stopping Critical Funding An informative study on the disturbing trends facing funding directors
  3. 3. Trends over time affecting funding directors… © Laurence Verga Consulting - 2010
  4. 4. Stress levels are SOARING… WHY? <ul><li>According to a 2009 non-profit organization survey… </li></ul><ul><li>80% reported some level of financial stress </li></ul><ul><li>40% considered the stress to be “severe” or “ very severe ” </li></ul><ul><li>Source: Impact of the 2007-09 Economic Recession on Nonprofit Organizations, Johns Hopkins University, Lester M. Salamon, Stephanie L. Geller, and Kasey L. Spence, 2009 </li></ul>© Laurence Verga Consulting - 2010 <ul><li>An organization’s financial health depends on adequate funding </li></ul>
  5. 5. Financing from non-operating funds is seriously low… <ul><li>According to the American Hospital Association, from 1988 to 2008 the percentage of total net revenue from investments and non-operating gains for community hospitals plummeted 3.2% , the lowest it had been in 25 years </li></ul><ul><li>Source: American Hospital Association 2010, Avalere, Avalere Health analysis of Amerian Hospital Assocation Annual Survey data, 2008, for community hospitals. Non-operating gains include income from non-operating activities, including investments, endowments and extraordinary gains, as well as the value of non-realized gains from investments </li></ul>© Laurence Verga Consulting - 2010
  6. 6. And… Charitable contributions are decreasing <ul><li>From 2008 to 2009… </li></ul><ul><li>30% of hospitals had a moderate decrease in charitable contributions </li></ul><ul><ul><li>9% were significant decreases </li></ul></ul><ul><li>43% had a moderate increase of needing subsidized services </li></ul><ul><ul><li>9% were significant increases </li></ul></ul><ul><li>Source: The Economic Crisis: Ongoing Monitoring of Impact on Hospitals, AHA, November 11, 2009 </li></ul>© Laurence Verga Consulting - 2010
  7. 7. More regulations don’t help the issue, but they ARE and WILL increase… <ul><li>In 2010, the health care industry was 17.3% of the U.S. gross domestic product (GDP) </li></ul><ul><li>Highly visible industries attract regulation and regulators , resulting in increased compliance costs as well as consequences of non-compliance </li></ul><ul><li>Source: Health Care Reform - Trends and Implications: 2010 and Beyond, Health News Digest, Marc Halley CEO, January 2010; Increased Regulation Driving Litigation Surge, Compliance Week, Jaclyn Jager, October 2010; Bbnet, Health Spending Hits 17.3 Percent of GDP In Largest Annual Jump, Ken Terry | February 4, 2010 </li></ul>© Laurence Verga Consulting - 2010 <ul><li>39% of healthcare companies ranked new litigation from regulation as their TOP concern </li></ul>
  8. 8. So, organizations are trying to do more with less, however, healthcare costs are skyrocketing <ul><li>Source: Supplementary Data Tables, Trends in Overall Healthcare Market, American Hospital Association, January 2010 </li></ul>© Laurence Verga Consulting - 2010 In nearly 3 decades, total national health expenditures increased 823%
  9. 9. Which drives up healthcare facilities costs <ul><li>From 2004 to 2008, 64% of growth for healthcare facility spending was due to rising costs </li></ul><ul><li>Source: The Cost of Caring: The Sources of Growth in Spending on Patient Care in Hospitals, AHA, March 2010 </li></ul>© Laurence Verga Consulting - 2010
  10. 10. Because of these issues many are in the red <ul><li>2007: 31% of hospitals had a negative total margin </li></ul><ul><li>2008: 53% were in the red </li></ul><ul><li>Source: Databank Project, American Hospital Association/Colorado Hospital Association, 2/25/09 </li></ul>© Laurence Verga Consulting - 2010 <ul><li>As issues continue to rise, negative margins will skyrocket </li></ul>
  11. 11. So, they look to volunteers to lighten the burden <ul><li>Volunteering increased by 1.6 million from 2008 to 2009 </li></ul><ul><li>However, it is still 2 million lower than 2005 and MORE is going to be required to face current issues </li></ul><ul><li>Source: Volunteering in America, Issue Brief, June 2010 </li></ul>© Laurence Verga Consulting - 2010
  12. 12. Barrier No. 1 Sales Force © Laurence Verga Consulting - 2010
  13. 13. The right people need to be in the right seats <ul><li>A study concerning business failures showed, </li></ul><ul><li>56% were hiring the wrong people </li></ul><ul><li>58% were not delegating correctly </li></ul><ul><li>Source: Ezine articles.com, Caroline Jordan, How to avoid the most common reasons for small business failure, 2009 </li></ul>© Laurence Verga Consulting - 2010 <ul><ul><li>Many organizations lack a formal “ sales teams ” with the physical and mental ability to acquire funding, resulting in inadequate funds </li></ul></ul>
  14. 14. Insufficient tools and advice limit success <ul><li>The control group of a study, who did not receive coaching demonstrated on average a: </li></ul><ul><ul><li>230% lower productivity than those who received coaching </li></ul></ul><ul><ul><li>25% lower sales </li></ul></ul><ul><ul><li>Significant increases in stress, and decrease in life satisfaction </li></ul></ul><ul><li>Source: Increasing behavioral competencies in Financial Advisors, 1 to 1 Coaching, 2005.   </li></ul>© Laurence Verga Consulting - 2010 <ul><li>The right tools and advice must be readily available for your sales team to optimize success </li></ul>
  15. 15. Low producing sales teams don’t have a clear goal <ul><li>A survey showed… </li></ul><ul><li>99% of businesses don’t have a written plan for growth </li></ul><ul><li>Success occurs when your funding goals are clearly communicated and your sales force knows what needs to be done and when </li></ul><ul><li>Source: Source: Inc.com, “Most business owners feel stagnant”, 2007 </li></ul>© Laurence Verga Consulting - 2010
  16. 16. Question? <ul><li>What Is Your Ultimate Business Strategy? </li></ul><ul><li>Source: Source: Inc.com, “Most business owners feel stagnant”, 2007 </li></ul>© Laurence Verga Consulting - 2010
  17. 17. The wrong impressions are often made <ul><ul><li>91% of unhappy clients will never do business with you again </li></ul></ul><ul><ul><li>97% of unhappy clients don’t express their dissatisfaction to the organization, however… </li></ul></ul><ul><ul><li>They will tell at least 15 other people </li></ul></ul><ul><li>Source: Statistics, Customer Satisfaction, Accessed November 15, 2010 </li></ul>© Laurence Verga Consulting - 2010 <ul><ul><li>The right people , with superior training , who share a vision , will leave a positive impression IF an effective marketing message is present… </li></ul></ul>
  18. 18. Barrier No. 2 Marketing © Laurence Verga Consulting - 2010
  19. 19. Marketing competition is fierce <ul><li>In 1971, the average American saw 560 advertisements per day </li></ul><ul><li>1977: 3,000 ads per day </li></ul><ul><li>2005: 5,000 ads per day </li></ul><ul><li>2009: 30,000 ads per day </li></ul><ul><li>Source: Practical Advice from the Union of Concerned Scietistis, Union of Concerned Scientists, Accessed November 15, 2010; Data Smog: Surviving the Information Glut by David ShenkISBN 0-06-018701-8, HarperEdge, 1997; Hidden Messages : advertising and the messages they send to society about women, Alyssa Michaelides, Easter Michigan University, Digital Commons, 2005; The Ultimate Business Mastery System, Chet Holmes DVD #1. </li></ul>© Laurence Verga Consulting - 2010
  20. 20. However, many don’t market effectively because a marketing plan is missing <ul><li>A study showed… </li></ul><ul><li>35% of companies were operating without a marketing plan or budget </li></ul><ul><li>60% of companies using social media had no plan </li></ul><ul><li>Source: Study: 60 percent of companies using social media have no plan, Fuel Lines, June 2010; VisionEdge Marketing Survey Predicts 40-60 Percent Of Companies Will Miss 2003 Sales And Revenue, All Business, February 2003 </li></ul>© Laurence Verga Consulting - 2010
  21. 21. The results… Over $112 billion is WASTED on advertising each year <ul><li>A study of companies with a total of $1 billion in ad spending revealed: </li></ul><ul><ul><ul><li>83% of campaigns were suboptimal </li></ul></ul></ul><ul><ul><ul><li>31% failed on messaging (People didn’t understand the message) </li></ul></ul></ul><ul><ul><ul><li>36% of media didn’t connect with the marketing motivations </li></ul></ul></ul><ul><li>Source: Marketing’s Inconvenient Truth, Future Now, Bryan Eisenberg, June 2007 </li></ul>© Laurence Verga Consulting - 2010 <ul><ul><ul><li>It’s more critical than ever that your message is truly heard by your affiliates and is delivering results </li></ul></ul></ul>
  22. 22. Barrier No. 3 Affiliations © Laurence Verga Consulting - 2010
  23. 23. Having the right affiliations portrays credibility to others and opens the door to increased… <ul><li>Donations </li></ul><ul><li>Grants </li></ul><ul><li>Advocates for your organization to other potential donors </li></ul><ul><li>Loans </li></ul>© Laurence Verga Consulting - 2010
  24. 24. The right affiliations are key <ul><li>“ Affiliating yourself with an organization or obtaining a fiscal sponsor can increase your likelihood of receiving funding ” ~ Foundation Center </li></ul><ul><li>You know the right affiliations are vital… How do you gain and keep them? </li></ul><ul><li>Source: Guide to Fiscal Sponsorship, Foundation Center, 2010 </li></ul>© Laurence Verga Consulting - 2010
  25. 25. All of these challenges result in… <ul><li>Inefficient operations , failure to meet your business goals and ultimately stagnant or declining growth </li></ul><ul><li>The reality is… there are solutions that will result in sufficient funding and organizational growth </li></ul>© Laurence Verga Consulting - 2010
  26. 26. Steps to overcome these challenges
  27. 27. Build a strong team © Laurence Verga Consulting - 2010
  28. 28. Start by implementing a plan <ul><li>A study revealed, businesses who begin with a plan decrease likelihood of failure by 60% </li></ul><ul><li>Create a written plan as to how you will increase efficiency and effectiveness of your sales team </li></ul><ul><li>Source: F. Delmar and S. Shane Strat. Mgmt. J., 24: 1165–1185 (2003) </li></ul>© Laurence Verga Consulting - 2010
  29. 29. Recognize your sales personnel need specific training <ul><li>Compared to other groups, your sales team often requires the most soft-skills training of all due to their continual interactions with current and prospective affiliates </li></ul><ul><li>A top expert should be sought after to ensure the right skill sets are being taught and enforced </li></ul><ul><li>Source: Investigating Sales Team Performance Problems – Diagnose the root problem to tackle the issues, Jennifer Eichenberg, 2008 </li></ul>© Laurence Verga Consulting - 2010 Please help me succeed… I’m willing to learn if you’re willing to train me
  30. 30. What critical skill sets need to be taught? <ul><li>Spanning communication </li></ul><ul><li>Sales tactics </li></ul><ul><li>Customer service </li></ul><ul><li>Negotiation </li></ul><ul><li>Presentation </li></ul><ul><li>Conflict resolution </li></ul><ul><li>Source: Investigating Sales Team Performance Problems - Diagnose the root problem to tackle the issues, Jennifer Eichenberg, 2008 </li></ul>© Laurence Verga Consulting - 2010
  31. 31. How are the right skills learned? <ul><li>In-depth on-the-job training </li></ul><ul><li>Individual instruction </li></ul><ul><li>Seminars </li></ul><ul><li>On-site classroom instruction </li></ul><ul><li>However having a strong team isn’t enough… It’s vital the right impressions are being made as well </li></ul><ul><li>Source: Investigating Sales Team Performance Problems – Diagnose the root problem to tackle the issues, Jennifer Eichenberg, 2008 </li></ul>© Laurence Verga Consulting - 2010
  32. 32. Portray the right message © Laurence Verga Consulting - 2010
  33. 33. Connect with your clients to gain results <ul><li>Healthcare organizations who use successful Customer Relationship Management solutions to implement their marketing are seeing higher rates of success </li></ul><ul><li>A Midwest hospital revealed, after using this technique they saw a 13.64% response rate and a marketing profit of over $650,000 </li></ul><ul><li>Source: Benefits of an Innovative CRM Solution for Health Care Organizations, InfoManagement Direct, November 2006 </li></ul>© Laurence Verga Consulting - 2010
  34. 34. How do you portray an effective message? <ul><ul><li>Know your audience </li></ul></ul><ul><ul><li>Focus on your marketing offer </li></ul></ul><ul><ul><li>Deliver consistent messaging </li></ul></ul><ul><ul><li>Create value </li></ul></ul>© Laurence Verga Consulting - 2010
  35. 35. What else? <ul><ul><li>Utilize integrated marketing </li></ul></ul><ul><ul><ul><li>Use multiple media sources to meet your goals </li></ul></ul></ul><ul><ul><li>Never work alone </li></ul></ul><ul><ul><li>Partner with an experienced professional </li></ul></ul>© Laurence Verga Consulting - 2010 <ul><ul><ul><li>This person should be able to build effective marketing messages </li></ul></ul></ul><ul><ul><ul><li>Train your team on how to portray the right message </li></ul></ul></ul>
  36. 36. Gain Strong Affiliations And Funding By Partnering With An Industry Expert © Laurence Verga Consulting - 2010
  37. 37. An industry expert makes all the difference <ul><li>Non-profit organizations gain approximately $40 Million from fund raising events each year </li></ul><ul><ul><li>50% of fund raising events have a featured local expert   </li></ul></ul><ul><li>$13Billion is given out in corporate sponsorship which is generated from a cold call </li></ul><ul><li>A properly coached sales force will be able to gain larger portions of available funds </li></ul><ul><li>Source: Brenan Burchard, DVD #8, UBMS </li></ul>© Laurence Verga Consulting - 2010
  38. 38. And now a word from our sponsor… © Laurence Verga Consulting - 2010 This study discussed how to find TRUE VALUE , NEW IDEAS, VISION , EFFICIENT CHANGES , BUSINESS GROWTH, PRINCIPAL CENTERED LEADERSHIP and PEACE OF MIND … Verga Consulting is a company based on these principles

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