How to Stop Leaving Money on the Table
Money left on the table is one of my pet peeves. It’s really beyond a peeve.
I can’t stand it when organizations could be serving more people, or doing so more effectively, but they don’t because they’re too smug (“what we’re doing now works just fine, and don’t try to tell me otherwise”) … self-reportedly “too stressed” … or simply not open to the idea of trying out some new strategies.
This “resting on one’s laurels” modus operandi leads to status quo organizations that fail to evolve to meet the moment. They get stuck in the past and, too often, begin to wither and die. Or they become what I call a “boutique charity” appealing to a niche group of insiders, content with the status quo.
That’s “nice,” but if you’re dedicated to solving pressing societal problems, meeting insistent human needs, and creating transformational personal and societal change, you’ll need to connect with donors on a more direct, visceral level.
How to Stop Leaving Money on Your Table
Your best donors have linkage, interest and ability (LIA). Begin with those already linked to you by virtue of having made a previous donation, been a loyal volunteer, served on your staff or board, or been a repeat purchase of services or products. In other words, they’re hiding in plain sight in your database.
Consider how you might learn more about these folks to better connect with them and make the best use of limited resources. You can do this in one of two ways:
- Donor Analytics: Find out how wealthy they are (ability)
- Supporter Connection Survey: Find out what they care about most (interest)
It’s funny, but too many nonprofits start with the former and often completely ignore the latter. It’s a way to go (and I confess I’ve been there), but is it the best way? I no longer think so – which is why I’m writing this article.Details