Why Charity Water's Business Model is so successful?

Charity: water is a non-profit organization founded in 2006 with a mission to bring clean and safe drinking water to people in developing nations. The organization operates on a donation-based business model, relying on the generosity of individuals, corporations, and foundations to fund its water projects. It has helped fund 24,537 projects in 24 countries, benefiting over 7.3 million people. Charity: water's business model is centered around fundraising and implementing water projects with local partners in various countries. The organization raises awareness about the global water crisis and mobilizes support through campaigns, events, and digital platforms. It partners with local organizations to identify community needs and then executes water projects, including constructing wells, boreholes, and other sustainable water solutions. The revenue model of Charity: water is primarily donation-driven. Individuals and entities contribute funds to the organization to support its mission of providing clean water to those in need. Donors can make one-time contributions, sponsor specific projects, or participate in fundraising campaigns initiated by the organization. Charity: water is known for its transparent approach, ensuring that 100% of public donations go directly to funding water projects. Private donors cover operational expenses separately, allowing every public donation to impact the provision of clean water directly. In addition to individual donations, Charity: water occasionally partners with corporations and foundations for more significant contributions and collaborations. The organization's commitment to transparency and accountability has earned the trust and support of a global community passionate about addressing the water crisis and improving the lives of millions through access to clean water.

Social impact: self-transcendence

Life changing: affiliation/belonging

Emotional: rewards me, nostalgia, design/aesthetics, badge value, therapeutic value, attractiveness

Functional: saves time, simplifies, reduces risk, informs

Community-funded:

The critical resource in this business strategy is a community's intellect. Three distinct consumer groups comprise this multifaceted business model: believers, suppliers, and purchasers. First, believers join the online community platform and contribute to the production of goods by vendors. Second, buyers purchase these goods, which may be visual, aural, or literary in nature. Finally, believers may be purchasers or providers, and vice versa.

Crowdfunding:

Crowdfunding is the technique by which a large number of people contribute to a project. Contribute modest sums of money to support a new business endeavor. Crowdfunding leverages the ease of accessing vast networks of people, connecting investors and entrepreneurs through social media and crowdfunding websites. It can increase entrepreneurialism by widening the pool of investors further than the traditional ring of owners, relatives, and venture capitalists.

Customer loyalty:

Customer loyalty is a very successful business strategy. It entails giving consumers value that extends beyond the product or service itself. It is often provided through incentive-based programs such as member discounts, coupons, birthday discounts, and points. Today, most businesses have some kind of incentive-based programs, such as American Airlines, which rewards customers with points for each trip they take with them.

Donation-based:

Crowdfunding for charity purposes is a collaborative effort by people to aid charitable projects. Civic crowdfunding is a kind of charity crowdfunding in which money is collected to improve public life and space.

Radical transparency:

The concept of radical transparency, or everyone knowing everything, has the potential to be a significant driver of improved organizational performance. This is especially true for new, fast-growing businesses that are under pressure to achieve aggressive sales targets and keep their investors pleased. In governance, politics, software design, and business, radical transparency refers to activities and methods that significantly enhance organizational processes and data openness.

Social stakeholder:

Social responsibility will only be accurate if many managers embrace moral leadership rather than immoral leadership, organizational management, and business ethics that engage morals and values in corporate governance. In a nutshell, it addresses the concept of who or what really matters.

Sustainability-focused:

Companies that manufacture fast-moving consumer goods and services and are committed to sustainability do ecological impact assessments on their products and services. While research-based green marketing needs facts, green storytelling requires imagination and location. Employees responsible for the brand definition and green marketers collaborate with product and service designers, environmental groups, and government agencies.

Non-profit organization:

Rarely does the non-profit sector participate in such direct and concise discussions regarding an organization's long-term financing plan. It is self-sustaining and offers services to users at no cost. That is because the many sources of financing for non-profit organizations have never been adequately defined. Often, a non-profit organization is devoted to advancing a particular social cause or advocating for a specific point of view. In economic terms, a non-profit organization utilizes its excess earnings to promote its purpose or goal, rather than paying profit or dividends to its shareholders (or equivalents).