While you no doubt want donors of all sizes, you especially want loyal donors who make above average size gifts. Because that’s where you’ll get the greatest return on your investment. Today, let’s talk about major donors. Why? They account for the lion’s share of all contributed income. Studies show over 88% of all…
DetailsThe world reacted with shock and outrage. There was a pervasive feeling of “how could this happen here?” People screamed… cried… prayed. This was five years ago. Last spring. When a fire wreaked devastating damage to something that, for many, represented the soul of a nation. And . Notre Dame Cathedral is iconic and symbolic.…
DetailsToday I’m writing about something that’s not fundraising or nonprofit marketing strategy per se. It’s about how to have hope – and take action – during times that may feel hopeless. For most of us, we’ve perhaps never been in perilous times during our lifetimes. For a host of reasons. And it’s not…
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It’s the new plague. And a highly contagious epidemic, from which no one is immune.
Are you showing any symptoms?
I feel like:
If you checked off three or more, you’ve got the disease. 8 or more and we need to rush you to an unplugged vacation. All of the above and you need a sabbatical!
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Once upon a time I let folks know I’d “finagled” a discount for them. After one reader told me the word “finagle” means “to obtain something by devious or dishonest means,” I sent an apologetic “Ruh Roh” email. I received a lot of forgiving (thank you!) feedback. Many kindly supported my initial use of the word “finagle.”
Susan sent me this:
finagle (third-person singular simple present finagles, present participle finagling, simple past and past participle finagled)
finagle a day off work
finagled his way out of a ticket by pretending to be on the way to a funeral, distraught
I think the word has come to mean “using super-human negotiating skill to obtain a superior result“
Terry sent me this:
I thought you meant “obtain (something) by indirect or involved means.” I always felt it was sort of clever or creative negotiations to get something done when it seemed like it couldn’t be done.
Sam sent me this:
I always thought it was someone who could manipulate circumstances to achieve a goal. No adverse implications. No criminal intent. Just clever in being able to make something work that really shouldn’t have worked.
And there were more. I thank you all.
And not just about negotiation (which is a subject unto itself), but about being clever.
And thoughtful.
And about what it takes to obtain superior results.
All good outcomes require a little positive finagling to get there.
For example,
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Everything I learned about saying “thank you” I learned from:
According to Burk’s research from Donor-Centered Fundraising, more than 80% of thank you letters start with “Thank you for your generous gift of…” or “On behalf of the Board of Directors, thank you for your generous gift of…”
I’m going to guess “yes.” I’m sure some will hate me for saying this, but after 30+ years in the nonprofit trenches and another 10+ as a coach and consultant, I’m still amazed at how small many of us think. In 2008 during the big recession, and 2020 during the pandemic, all I heard was…
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For at least the past seven years I’ve been actively encouraging nonprofits of all stripes to prioritize beginning or ramping up their monthly giving program.
Not a lot of nonprofits were really leaning into this then. But, as much sense as it made then, it makes even more sense now.
So, I’m going to ask you: How are you doing with this?
Here’s why I’m asking.
If there’s anything the pandemic years have taught us,not to mention recent climate-related disasters, you need a dependable source of income in order:
It turns out there’s nothing as dependable as monthly donors.
In fact, donors who give to you recurrently sustain you so well a monthly giving strategy is often called a sustainer program.
Do you deserve a group of people who will sustain you through thick and thin?
Of course you do!
But you don’t always get what you deserve – unless you make it happen.
As someone poetic so eloquently put it:
“Nothing will work unless you do.”
— Maya Angelou
Let’s get down to work!
There are four steps to a successful monthly giving work plan:
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In my last article I talked about the importance of making a good first impression with potential donors.
It’s extremely important to have a strategy in place, just as if you were going on a first date. Those who plan ahead do well. Those who don’t? Not so much.
Both dating, and donor wooing, are a delicate dance.
But, let’s say you did a good job. Your donor prospect made a gift!
Now what?
If you like them (of course you do!), and want a second date (of course!), you’ve got to make a good second impression. And third, fourth and fifth impression. The value of a first-time donor (which often costs as much as $1.25 to generate $1.00) is not realized in that initial gift. Sustainable fundraising is all about donor lifetime value.
So, after the first gift, you definitely want a plan in place to thank and cultivate this donor throughout the year. Some communications will have an ask included, but most will be designed to build your donor’s interest, engagement and loyalty. Once the relationship is sufficiently built, it’s time to seek that second gift.
Let’s talk about the renewal appeal, and why so many of them are just gosh-darn awful.
Maybe it’s because of the “monkey see, monkey do” nature of human beings. We see someone else do something and assume it’s good practice. Especially when they’re a household name, just bigger than us, or someone we, another staff member or board representative hold in high regard.
DetailsThe single most important lesson I ever learned. Begin with the why. Always. If you don’t, you’re likely to work very hard and not achieve much of value. Why? Because you didn’t begin your endeavor by asking yourself: “Why am I doing this?” “What’s the value in this work upon which I’m about to embark?”…
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