Post by Matt Weinstock on Oct 9, 2014 15:09:26 GMT -5
The Livestrong Foundation is a United States nonprofit organization that provides support for people affected with cancer. This nonprofit was founded by Lance Armstrong in 1997, and has done an amazing job using different fundraising techniques to further their organization.
One of the most interesting ways that the Livestrong foundation has differentiated itself from other nonprofit organizations is the establishment of the Livestrong brand in 2003, which oversaw one of the most popular nonprofit fundraising campaigns in history, the sale of rubber, yellow Livestrong bracelets which massed in popularity around the summer of 2004. These little rubber bracelets were not only hugely successful, but they ushered in a new era of nonprofit fundraising, with almost every nonprofit organization using the same concept, rubber bracelets, to raise money for their foundations. Consumers could wear on their sleeve and let everyone know that they supported the Livestrong organization, and it became very trendy to have one of the bracelets, leading to higher returns on this fundraising effort. Over 80 million of these bracelets have been sold today. Also, Livestrong partnered with Nike to create a collaborated line of athletic wear, all in their signature yellow, with part of the proceeds going to the foundation. This mix of retail sales in the nonprofit sector allowed Livestrong to create a sustainable advantage in their industry and increased amount of good that the organization could do in the community through higher revenues.
In 2011, Livestrong held the first Team Livestrong Challenge fundraising event. The event was a bike ride/run where participants pay a small entry fee and were sponsored by friends and family to raise money for the organization. Participants were able to feel good and show the world that they supported the cause of the Livestrong Foundation, and the foundation raised a lot of money to help people affected by cancer, a mutually beneficial event. This campaign has been wildly successful, with Livestrong holding many Challenges all over the country since the first race.
One strategy that the foundation has even admitted was not the best decision was tying in their brand too closely with their founder, Lance Armstrong. Because of Armstrong’s doping scandal of 2012, the foundation caught considerable flack from media outlets. This negatively affected their fundraising abilities because people were not as willing to give to the organization after this scandal. It also cost them their partnership with Nike, which announced in 2013 that they would be severing ties with the organization. Livestrong has bounced back, though, and since has continued to tirelessly fundraise and support people affected by cancer, including launching their Big C competition, a competition that offers grants to innovative inventions that help progress cancer care and improve quality of life of patients, as well as continuing their community impact projects, and advocating policy in cancer care in Washington D.C.
www.livestrong.org/who-we-are/our-history/milestones/
www.huffingtonpost.com/2012/10/17/livestrong-bracelets-lance-armstrong_n_1973716.html
www.livestrong.org/grassroots-events/
One of the most interesting ways that the Livestrong foundation has differentiated itself from other nonprofit organizations is the establishment of the Livestrong brand in 2003, which oversaw one of the most popular nonprofit fundraising campaigns in history, the sale of rubber, yellow Livestrong bracelets which massed in popularity around the summer of 2004. These little rubber bracelets were not only hugely successful, but they ushered in a new era of nonprofit fundraising, with almost every nonprofit organization using the same concept, rubber bracelets, to raise money for their foundations. Consumers could wear on their sleeve and let everyone know that they supported the Livestrong organization, and it became very trendy to have one of the bracelets, leading to higher returns on this fundraising effort. Over 80 million of these bracelets have been sold today. Also, Livestrong partnered with Nike to create a collaborated line of athletic wear, all in their signature yellow, with part of the proceeds going to the foundation. This mix of retail sales in the nonprofit sector allowed Livestrong to create a sustainable advantage in their industry and increased amount of good that the organization could do in the community through higher revenues.
In 2011, Livestrong held the first Team Livestrong Challenge fundraising event. The event was a bike ride/run where participants pay a small entry fee and were sponsored by friends and family to raise money for the organization. Participants were able to feel good and show the world that they supported the cause of the Livestrong Foundation, and the foundation raised a lot of money to help people affected by cancer, a mutually beneficial event. This campaign has been wildly successful, with Livestrong holding many Challenges all over the country since the first race.
One strategy that the foundation has even admitted was not the best decision was tying in their brand too closely with their founder, Lance Armstrong. Because of Armstrong’s doping scandal of 2012, the foundation caught considerable flack from media outlets. This negatively affected their fundraising abilities because people were not as willing to give to the organization after this scandal. It also cost them their partnership with Nike, which announced in 2013 that they would be severing ties with the organization. Livestrong has bounced back, though, and since has continued to tirelessly fundraise and support people affected by cancer, including launching their Big C competition, a competition that offers grants to innovative inventions that help progress cancer care and improve quality of life of patients, as well as continuing their community impact projects, and advocating policy in cancer care in Washington D.C.
www.livestrong.org/who-we-are/our-history/milestones/
www.huffingtonpost.com/2012/10/17/livestrong-bracelets-lance-armstrong_n_1973716.html
www.livestrong.org/grassroots-events/