Making money for yourself is the goal of any business. Imagine if you could help others, giving back money to the community while profiting yourself. Unlike the previous story, the following is a site based on giving more than on selling a specific line of products. Its success is an inspiration for anyone seeking to really use the power of the Internet to help themselves, and their community.
The goal of iGive.com is for the shopper to give back to the community. A wide selection of products are available from merchants such as:
Notice that the profit margins for most of these are in the upper ranks; this gives the site an ability to generate profits. This profit margin is split equally, half going to the non-profit of the shopper's choice and half to keeping iGive.com's efforts going.
iGive.com earns its money by matching shoppers to the selected merchants. It creates cause related marketing, donated a matching fund for each purchase. In essence, the good will of the shopper is encouraged and the non-profit gets half the net profits.
iGive.com opened in 1997 and in its first year estimates to have generated over $180,000 for 43 non-profits ("Organizations make it easy to donate time, money online", Jamie Beckett, San Francisco Chronicle, December 24, 1998, p. D3). Remember that since they split the profits, they also earned $180,000. Total earnings is over $350,000 for the first year, while helping non-profits and the community. No inventory, no burdens of order processing or delivery; simple, direct cause related marketing. Where else but the Internet could this happen?
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