Giving is not always its own reward. Sometimes you have to help it along. I just read an article by Scott Monty, who has a pithy take on the digital world. His newsletter is not nonprofit specific, however it is certainly relevant to anyone working in the social benefit sector. In this particular article he…Details
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…”
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- Want to stand out?
- Want your donor to actually read your letter?
- Want your donor to feel good about the decision they made to invest in you?
- Want your donor to feel warm and fuzzy inside?
- Want your donor to say “Aw, that’s SO nice!”
- Want your donor to feel the opposite of bored?
I’m continuing with my new, occasional feature of “Do’s vs. Don’ts.”
Whenever something arrives in my mailbox that seems a good ‘teaching opportunity,’ my plan is to share it with you.
Please let me know if you find it useful!
Today’s example is an emailed invitation to a donor appreciation luncheon.
Do you think it’s a “Do” or a “Don’t?”
What’s wrong or right with this subject line?
I received an email with the headline: Want to enjoy lunch with our kids next Thursday?
The preview pane continued:Details
When people give to you for the first time, often they know very little about you. Perhaps they found you through a link on social media. Or organic search. Or through a friend who emailed them a link to your appeal.
They were inspired to give, once, based on whatever they saw or read.
What happens next is critical.
Either you’ll inspire donors to stick with you, or you’ll depress their enthusiasm through benign neglect.
I say “benign,” because I’m sure you don’t mean to mistreat your supporters. Nonetheless, I’m willing to bet many of you do.
- Perhaps donors make a gift online, and are not immediately taken to a thank you landing page that reassures them their gift went through.
- Perhaps you send donors a deadening thank you email that looks like a receipt.
- Perhaps your generic thank you doesn’t tie back at all to the reason they gave.
- Perhaps your thank you talks all about your organization, rather than about how your donor is a hero.
- Perhaps your thank you focuses on the amount of their gift and its tax deductibility, and fails to mention specifically what it will accomplish.
- Perhaps your email thank you lacks the personal touch you put into your mailed thank you letters.
Here’s the deal: Donors are looking for meaning. If your thank you and subsequent donor communications don’t give it to them, they’ll dismiss you and go look for meaning elsewhere.
All donors have questions they need you to answer for them. If you fail to answer these questions you fail to lay the groundwork for developing a positive, ongoing relationship.Details
It’s doubtful you are unless you’re making robust use of your donor database for this purpose.
In other words, you must make this a TOP priority.
Retention lives or dies in how effectively, or not, you use your database to support your relationship-building, loyalty-driving efforts.
If you think of your database as a largely undifferentiated mailing list, you’re not going to realize your potential to:
- Boost renewal rates
- Increase average gift size
- Upgrade donors
- Secure major and legacy gifts
- Recapture lapsed donors
- … and more!
Really, I just can’t bear to think of you not maximizing return on your investment. And that won’t happen unless you focus on donor lifetime value. And lifetime value will be very, very small — unless you retain and upgrade donors over time.
There are 5 Keys to Donor RetentionDetails
Are you caught in the trap of transactional fundraising?
Donors come in. Donors go out.
One-time gifts are here today, gone tomorrow.
It’s like being on a non-stop treadmill. Just exhausting!
There’s a way to catch your breath, and even begin to enjoy breathing again.
Instead of continuing on as a transactional fundraiser, become a donor experience transformist!
Receipt of the gift is the beginning, not the end.
Before you can create a transformative donor experience, you must undergo a transformation of how you think about donor acquisition and retention. If your holy grail is simply getting the gift, you’re missing the point.Details
This Thursday folks in the United States will celebrate what I consider to be the social benefit sector holiday of the year: Thanksgiving!
Just think about what it means. Literally, it’s a day for giving thanks for our blessings.
Who do you count among yours?
I know when we go around the table at my family Thanksgiving, saying what we’re grateful for this year, most folks respond with a people-based answer. Sure, they’re happy about the feast in front of them. But they’re most grateful for caring friends. For loving family. For being together and sharing the warmth of good company.
Who are you grateful to at your organization?Details
Recurring giving is essential for organization sustainability and growth.
After all, what’s the point of all your hard work if you get only one donation from someone? That’s a super expensive way to fundraise, and sometimes you won’t even make back your investment. It’s called ‘churn and burn,’ and it’s depressing.
Increasing the number of recurring giving donors is a really big deal! Recurring donors can give over 5 times more to you over their lifetime, as they are more likely to keep giving year after year. In fact, a 2016 study found that monthly recurring donors have a 90% retention rate, compared to the average donor retention rate of 46%.
This is HUGE, and should make you Stop. Dead. In. Your. Tracks. Wondering why on earth you’re not putting many more resources into this clearly winning fundraising strategy!
Yet, for a bunch of reasons, too few nonprofits engage in monthly, recurring giving.
To explore the reasons, and determine ways to overcome them, NextAfter joined forces with Salesforce.org to conduct a far-reaching study [The Nonprofit Recurring Benchmark Study] They made multiple donations, including a recurring gift to 115 nonprofits, and recorded their experience with each organization. The result was an analysis of the recurring giving process from the donor’s perspective. They found a bunch of areas of friction, plus offered up a slew of action items to help nonprofits improve their results. If you read the study, you’ll not only understand what works/what doesn’t work, but you’ll learn what to do about it.
No time to read the full study? Today I’ve invited one of the study authors, Brady Josephson of NextAfter, to share 7 techniques you can try for yourself to help increase the number of recurring gifts to your organization.Details
Let’s pretend you and your donor are not connecting meaningfully right now. You’re not sure why. Could it be they feel financially insecure… they’re worried for their kids… they’ve been let down by politicians… they’re just feeling cynical and/or hopeless? For whatever reason, things aren’t singing between you and them. They haven’t renewed. They haven’t upgraded. They haven’t responded to any of your outreach. They seem to have other priorities.
So, you decide to go to counseling to reinvigorate the relationship. The therapist makes a wise observation: Sometimes in life, one partner feels strong; the other less strong. In such times, the stronger partner has resources to support the weaker partner. Other times, neither partner feels they have coping resources. During these times, we have to depend more on ourselves, be patient, and accept that our partner is not currently in a strong position – even though we really need their support.
Are you being a support for your donor? Are you helping, not selling all the time? Are you being patient, yet persistently showing you care?
We’re in turbulent times. Studies show giving to be sluggish. Donors are less loyal. Maybe they’re distracted by emergencies. Or so-called rage giving. Or simply uncertainty about what lies ahead. So they’re giving less consistently. As a result, donor centered fundraising has never been as important as it is now.
People are feeling a need to be nurtured. In other words: Ask not what your donors can do for you, but what you can do for your donors. Recognize they don’t serve you; you serve them. They don’t owe you; you owe them. Your job is to help them experience the joy of giving. It is through you they will achieve their most meaningful work.
Embrace the true meaning of philanthropy as love of humankind. Remember your donors are humankind; you must love them if you want to be a part of philanthropy. Otherwise, you’re just transacting business.
So… what can you do to embrace the love and thereby keep your donors close?Details
Don’t put the fundraising cart before the friendraising horse! There’s an essential precondition for all fundraising: FRIENDraising. It’s the work horse that pulls the cart. Marketing and fundraising have changed so much since the digital revolution, you can no longer simply push messages out to folks and expect them to jump on board. So, let’s…Details