Social enterprises recognised by AMI for marketing excellence
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HomeGround Real Estate was launched in March 2014 as Australia’s first not-for-profit (NFP) real estate agency. The Agency is a social enterprise formed by HomeGround Services – an organisation that’s striving to end homelessness in Melbourne.
HomeGround Services commissioned Syneka Marketing to develop a marketing and communications plan to launch and sustain this social enterprise.
The real estate industry is a highly competitive market, with low levels of differentiation. Syneka Marketing successfully positioned HomeGround Real Estate as the ‘ethical choice’ in the industry, appealing directly to the desire to achieve a social return, while also supporting social outcomes.
HomeGround Real Estate demonstrates that NFP organisations can achieve financial independence, through the formation of social enterprises that build on their inherent strengths.
The Marketing Plan ensured that HomeGround Real Estate was able to establish itself in a competitive environment, utilising its clear point of differentiation, as the Ethical Choice in Real Estate.
Business Partnerships have been established, providing not only direct financial support for HomeGround Real Estate, but also the ability to directly reach potential landlords. Relationships with organisations such as the Rotary Club of Melbourne, have been extended through HomeGround exploring opportunities for ongoing partnerships.
HomeGround Real Estate demonstrates that NFPs can successfully establish social enterprises that provide income diversification while also complementing the broader aims of the organisation.
Innovative NFP social enterprise, Governance Mentors, an initiative of Volunteering Western Victoria, seeks to facilitate good governance through mentoring. The organisation’s mentors work with an entire board of a community organisations nationally to achieve good governance practices.
Volunteering Western Victoria commissioned Syneka Marketing to develop the marketing plan and provide implementation support to conceptualise and deliver the program.
Syneka Marketing identified the need for Governance Mentors to appeal to three market segments:
- Potential mentors
- Participating community organisations
- Business and funding partners.
Governance Mentors not only needed to reach the identified market segments, but to also articulate the importance of investing in community governance.
Since its launch in late 2013, the program has successfully recruited mentors and initiated placements with community organisations. The program has been successful in initiating discussions about the importance of good governance and the requirements of the community sector into the future.
“Social enterprises operate in the open market and require a strategic approach to their development and implement,” says Alex Makin, Managing Director of Syneka Marketing.
“A social enterprise is only successful if you understand your value proposition, competitors and key target markets.”
Syneka Marketing worked with HomeGround Real Estate and Governance Mentors to develop marketing plans that led to the launch of their respective social enterprises. Both initiatives aim to diversify the income base of their parent organisations, while fulfilling a need in the community.
“NFPs are increasingly exploring the development of social enterprises to overcome funding uncertainty,” says Makin.
“Government funding, at all levels, is becoming increasingly uncertain – there’s a need to for NFPs to explore new and innovative forms of generating both financial and social returns.”
“Strategic marketing is an essential activity that will ensure that your social enterprise will be successful. It’s fantastic to see these two social enterprises being recognised through the Australian Marketing Institute’s Awards for Marketing Excellence,” Makin concluded.
