Sometimes major donors give less than the previous year. Sometimes they stop giving to you entirely. What’s the worst sin committed by fundraisers when this happens? Not noticing. What’s the second worst sin? Assuming it has nothing to do with you. Sure, sometimes donors’ priorities change. Or some of their money goes to an emergency…
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I’ve written about this before. But since I continue to get questions, I’m writing about it again. Fundraisers wonder about the upsides and downsides in asking donors to cover credit card and other gift transaction fees. Hmmn… First, let me be upfront in letting you know my gut emotional response to doing this is “no.”…
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Are you leading with a “gift” or “favor” to positively incline your donor to say “yes?”This time of year is what I call “presuasion time.”
Because if you’re thoughtful about it, you can presuade donors to give up to the moment you ask!
That’s what we reviewed in Part 1 of this two-part series, where I described research from Robert Cialdini, author of the seminal Influence: The Psychology of Persuasion, and the newer book, Pre-Suasion: A Revolutionary Way to Influence and Persuade, and discussed how you might apply this research to your fundraising strategies. We learned the importance of leading with a “gift” or “favor” that will incline your donor favorably in your direction. Even the smallest of favors can create significant goodwill, and there are simple ways to boost the likelihood your favor will be returned.
Today we’re first going to look at a way to tweak your language to make a difference.
Then we’ll explore some types of favors donors are likely to value enough to want to reciprocate.
First, a reminder: Truth be told, every time of year is presuasion time. Everything you do with supporters should be designed to prime the pump so people are pre-disposed to give to you the next time you ask. Whether that’s next week, the week thereafter, or any week of the year! Whenever you’re not asking — and you should plan to send at least three non-asking communictions for every one ask — you should be in presuasion mode.
So, let’s get a little psychologically-minded, keeping in mind one of the six core Cialdini principles of Influence and Perusasion: Reciprocity. In brief, human beings often feel obligated to return favors, even if they are unasked for.
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Only about 10% of Americans itemize tax deductions today. Prior to 2017 it was 31%; that was , but still a minority. Yet you’re likely blithely sending out year-end messaging replete with “Only 1 week left to grab your tax deduction!” Who cares? At best, it’s just ten percent of your donors. And since the…
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The job of the smart fundraiser is inspiring passionate philanthropy to make people’s lives better. I know you’re smart, because you’re reading this article! But none of us is born with a fundraising gene. And no one ever really teaches us how to write a smart fundraising appeal. We copy from our predecessors. Or maybe read…
DetailsI firmly believe part of the role of a philanthropy facilitator is to foster both individual and community well-being. You must both: (1) focus inward, as you can’t help others unless you first help yourself, and (2) focus on the way you connect with others. What you say, What you do, and, most important, How…
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Remember learning your multiplication tables? The concept is powerful for fundraising!
People love to S-T-R-E-T-C-H their dollars.
This is the basic psychology underlying “BOGO” (Buy One; Get One free) and “2 for the price of 1” sales. For a variety of reasons, we’re crazy about getting a good deal!
If I get more for my money, that’s smart.
It’s frugal to find ways to leverage our family’s spending.
I like to use my money in the most effective way I can.
It’s easy to apply these desires – to be smart, frugal and effective — to the creation of compelling fundraising offers.
All you have to do is go back to third grade!
2 X 1 = Twice as much!
Why not put that education to use in order to create your most compelling fundraising appeal? An offer your donors will have trouble refusing!
When you show your donors how you can leverage their donation to accomplish more than they even imagined, you greatly increase the likelihood they will respond to your call to action.
Let’s take a look at the best ways to accomplish this objective.
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Have you ever wondered how major donors think about philanthropy?
To a large extent, they think about it the same way as anyone else. They just have more money.
It’s good to remember major donors are, first and foremost, just people.
And like all human beings, they are on a continual quest for meaning. It’s the existential search to be all that one can be.
And you can help them!
You (as executive management, development staff or board member) are a facilitator of philanthropy. Your organization exists, in part, to facilitate your donor’s quest for meaning and teach the joy of giving. To do this effectively, you must be attuned to your donors. And, since the wealthy have the ability to make a larger impact when it comes to furthering your mission, you especially must be attuned to these folks.
NOTE: I am not suggesting you eschew small gift fundraising. All gifts are important, and some of your smaller donors will likely engage in other critically important ways as well. They may become ambassadors, advocates, inlfuencers, volunteers and even legacy donors. You never want to put all your eggs in one basket. At the same time, it’s smart to develop a strategy to unlock giving from those who have potential to make transformative gifts.
In the past I’ve looked at six major donor philanthropic triggers. You need to know about these things, because if you can key into any of them you’ll have a strong basis for pursuing a major gift from the prospect whom you’re approaching:
Today I’d like to review six more things you should be on the lookout for; then I’ll suggest four strategies to help you enter into your prospective donors’ worlds so you can make a win/win match – one that will help your major donors simultaneously help your cause and themselves.
Coincidentally, I found a back issue of Lifestyles Magazine from 2008 (yes, I’m a bit of a hoarder) and was struck by some of what the publication had to say—a veritable peek inside the minds of major donors. There’s a clue right in the way Lifestyles (now out of publication) describes their mission (highlights are mine):
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Here comes my occasional “Do’s vs. Don’ts” feature, where I share with you something arriving in my mailbox that seems a good ‘teaching opportunity.’
Today we’re going to review a fundraising campaign thank you email.
It’s very simple, which is why I’ve selected it. Because simple can be deceptive. So much so, in fact, that putting it together may seem unworthy of a strategic approach. Gosh darn it — we had a successful campaign and now we’re simply closing the loop and letting our community know it was a success. How much time investment is merited here, really? Come on! Just the fact we’re sending this is good, right?
Wrong. Alas, as the old adage goes, anything worth doing is worth doing well. Otherwise, you might inadvertently create an unintended consequence.
You may think I’m picking nits. Perhaps. But if you’ve got nits, they’re pretty uncomfortable. And that’s how this email made me feel. Except… for the parts that didn’t make me feel that way. This email is a melange of do’s and don’ts.
We’ll take a look at the various elements; then assess what works/doesn’t work.
There’s (1) a subject line, (2) the email itself, and (3) what happens if/when you click through and are transported to the donation landing page.
I’ll ask you some questions.
First, I’d like you to think about your answers and jot them down.
Second, I’ll tell you what I think.
Third, if you disagree with me please let me know in the comments below.
Really take the time to notice what you like and don’t like.
I promise you’ll learn a LOT more this way. We learn best by doing.
Seriously, I mean it.
Let’s begin at the beginning.
This may help: Take three minutes and jot down your answers to the first three questions on a piece of paper or your screen. I want to know if what was in the subject headline would have caused you to open the email or hit ‘delete.’ If you’d open it, why?
Okay. Ready to learn what I think thus far, and also see what else we’re working with?
Let’s begin!
Does your nonprofit promote stock gifts? You should!
A groundbreaking study by Dr. Russell James J.D., Ph.D., CFP®, professor in the Department of Personal Financial Planning at Texas Tech University, found nonprofits that consistently received gifts of appreciated stocks grew their contributions six times faster than those receiving only cash.
This is HUGE.
If you learn to ask for gifts from appreciated assets you’ll get more generous gifts. The study shows:
The most productive strategy is simply to accept gifts of stock.
But it’s up to you to offer up this giving framework to your supporters. Otherwise, they’re apt not to see this as an opportunity.
And speaking of ‘framing,’ this can establish a persuasive reference point for would-be donors. Researchers have found people don’t treat all their money as if they have one big pool of it.
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