Many millennials prefer to make their payments on a monthly basis, so how you can you engage younger donors on a day like #GivingTuesday and beyond?
npENGAGE has featured a fantastic article on how to turn a single-time donor from a day like #GivingTuesday into a lifetime donor.
Writer Jenny Toldeo says;
As a millennial, I prefer to pay costs monthly—even if that means spending a little more.
And I’m not alone. 92% of millennials have active service subscriptions.
It’s just more feasible for me to give $20 monthly than it is to make a one-time $200 donation. Yes, you read that right! Understanding a situation like mine is crucial to running a successful sustainer giving program.
One organization broke the cycle. After I made my first gift, our relationship flourished. I’m now a proud lifetime supporter. Why? They followed a strategy I like to call the “Vowel Method.”
The Vowel Method has five elements: Accessible, Educational, Impactful, Open, and You. Let’s take a closer look.
The adage that it’s cheaper to retain a current donor than find a new one is bandied around a lot in fundraising, but I’m beginning to wonder if it’s really understood.
If so, why are so many charities seemingly more concerned about attracting new donors than taking care of the ones they already have – no matter how small that list may be.
Sure, growing our databases is important to our organisations’ survival and ability to have further impact, but unless we have literally zero donors, it will always be more important to retain the ones we have and develop those relationships. So how can we do this?
Donor care is critical. I cannot emphasise that enough. Small improvements in donor retention can have tremendously large improvements in the long-term success and stability of your fundraising.
A fantastic piece of advice from donor relationship expert, Simon Joyaux is to:
“First, believe deeply – in your heart and then in your brain – that donors matter.”
For more tips from other fundraising experts have a read of this article from npENGAGE here.
Often workplace giving can be seen as a bit of a mysterious creature in the world of fundraising, but a recent report is shedding some light on the topic.
Non-profit organisation, Good2Give, (formerly known as Charities Aid Foundation) works to connect businesses and their employees as donors with charities.
Their recent report, thought to be the biggest on workplace giving in Australia, provides insights into almost 1,000 donors in Australian workplaces highlighting their preferences, behaviour and motivations.
The report also indicated that Aussie charities are potentially missing out on millions of dollars from workplace giving initiatives.
Good2Give CEO, Lisa Grinham, said “Workplace givers who were recognised by their employer and who received thanks from their charity invariably made higher donations. Almost half were also willing to increase their donations if they were just asked.”
“Charities need to take the training wheels off when it comes to engaging workplace givers and extend communications to grow their relationship with these passionate supporters,” Grinham said.
For more information and to download the report, please visit the Good2Give website here.
In early 2016 The Wall Street Journal published an article about the differences in charitable giving by men and women.
The article, based on research conducted at the Women’s Philanthropy Institute at the Indiana University Lilly Family School of Philanthropy, suggests that giving is consistently different based on the gender of the philanthropist.
“In one study, baby-boomer and older women gave 89% more to charity than men their age, and women in the top 25% of permanent income gave 156% more than men in that same category,” the article says.
As charities, it is important that we start to consider these gender differences when engaging with our donors and prospective donors. For more details, read the article in full here.
When we come across a good resource we like to share it with you, so in that light today we’d like to tell you about ‘A Guide To Fundraising’ from the School For Social Entrepreneurs (SSE).
This guide is designed to support your understanding of fundraising fundamentals and how to integrate them into achieving your enterprise vision.
At SSE they believe in learning by doing and that organisations need to communicate what is unique and wonderful about them.
The main areas covered are:
- Why do we fundraise and common hurdles to overcome
- How do we achieve fundraising success
- The where and what funder/ partner categories are out there
SSE believe that this guide could be handy for others in the community sector also so are making it widely available.
Download the guide.
Since Ken Burnett’s book ‘Relationship Fundraising’ was published in 1992 most of the non-profit world has embraced the concept as best practice for connecting with donors. However, this world has changed dramatically since then and charities are not always able to understand the motivations for donors today and what inspires them to support a cause.
One business, known as Pursuant, is helping change that. They have funded groundbreaking research by Ian MacQuillin, the Director at Plymouth University’s Centre for Sustainable Philanthropy, and fundraising experts Adrian Sargeant and Jen Shang.
Through this research, they have now developed four volumes of reports that explore the why? how? who? and what next? Plus, there are a few other helpful resources on the very important topic of relationship fundaising.
Have a quick watch of this video with Adrian Sargeant talking about some of the study’s key findings:
To learn more from this vital research and download the resources available pleasevisit the Pursuant website here.