Fresh marketing approaches for charities
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Winners of the Centre for Innovation and Entrepreneurship’s (CIE’s) Social Endeavour Prize (SEP) received cash prizes for developing inventive and effective marketing strategies for the selected charity. Each team had seven minutes to pitch its fundraising idea, followed by three minutes of questions from the judges.
The judging criteria for the prize included:
• Return on investment of the fundraising business model;
• Credibility of required inputs and target outcomes;
• Detail of the processes to be used;
• Viability; and
• Strength of responses to judges’ questions.
The winning team, receiving $4,000, worked with the Westmead Children’s Hospital to develop an in-hospital art competition with the theme ‘what makes you happy’. Pieces of artwork – each bearing the name, age and illness of the child who created it – will be printed on merchandise and sold.
Second place saw $3,000 awarded to ‘Action Aide for AustCare’, in which the team proposed performing skits in public places to promote the organisation.
These teams will now have the chance to spend one week with their chosen charity during to implement and actualise their fundraising concepts.
The third prize of $1,000 went to a team working with The Smith Family to design and build ‘Cubbies for Kids’. The cubbies – funded through corporate sponsors – will be publicly displayed to raise awareness and attract donations.
Students involved in the competition said they found experience of working with charities valuable, as an opportunity to develop marketing, accounting and financial skills, as well as rewarding and eye-opening.
The CIE was established in 2007 within the Australian School of Business and encourages entrepreneurial skills among the university’s students, faculty members and alumni.
Peter Kazacos created the SEP in 2008, as part of the Kazacos Foundation Grant to the CIE.
