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TY Thursday: Torn Between Two Donor Lovers?

July 26, 2018 by Dennis Fischman Leave a Comment

two lovers

Which one deserves your #donorlove?

If you’re going to go out of your way to thank a donor fabulously, creatively, as many times and as many ways as you can, which donor should get your love?

Do you single out the person who gives you the most money, or the person who gives most loyally over the years?

Let me tell you two stories to help you decide.

The Sudden Passion

The receptionist at the anti-poverty agency where I worked brought me the day’s mail. I opened a handful of reply envelopes from our most recent fundraising appeal. Then I gasped. A woman who had never given us a penny before had sent in a check for $1,000!

For our little nonprofit, $1,000 was a fortune. It was ten times the amount of the average donor’s gift. And it was the first time that Jean had donated. We had great hopes for the future.

As far as I know, we did all the right things to let Jean feel the #donorlove. We

  • Sent her a thank-you letter with a personal note from the Executive Director, the same day we received her donation
  • Followed it up with a voicemail
  • Listed her in our newsletter and annual report
  • Invited her to special events

Yet we never heard from Jean again. I still don’t know why. Perhaps she meant to give to an organization in town with a similar name, and she was too embarrassed to tell us she’d made a mistake? Or perhaps we’d touched her heart just that one time, and the morning after, she realized she loved some other organization better?

I’m not sorry we had our brief moment of passion with Jean. But I’m glad we didn’t run away with her, thinking it was true love, and forget about the donors waiting at home.

The Love of a Lifetime

John was a client of our agency. He couldn’t give much at a time–certainly not $1,000! But he had volunteered or served on the Board for twenty-five years.

Whenever we sent an appeal letter, he gave what he could. And when we had our twenty-fifth anniversary gala, John went around town (walking with a cane) and solicited gifts from local businesses. Back at his subsidized elderly housing, he went door to door and asked his neighbors to donate.

Over a lifetime, John raised $1,000 many times over.

Because John was shy, we couldn’t applaud him in public the way we would have liked. We sent him thank-yous and listed his donations, but we never toasted him or sent him gifts.

At Board meetings, however, we thanked him and held him up as an example. And our agency went above and beyond to make sure he  (and later, his daughter) would keep his housing and benefits, even when he was hospitalized for months at a time. That was another way of saying thanks.

If You Have to Choose Your True Love, Here’s How

Ideally, of course, you’d thank every donor fervently and frequently. Aim to do that! If you have to choose, however, pick your most loyal donors at every level.

Don’t just thank your major donors. If your newsletters are full of pictures of people who pay for whole buildings or programs, then your average donor will think, “This organization doesn’t need people like me.”

Show the love to the donors who, over time, show the most true love to you. Share on X

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Fundraising Tuesday: Where to Find New Donors

October 10, 2017 by Dennis Fischman Leave a Comment

If you have to put your time and energy into finding new donors OR renewing the donors you have, choose donor retention.

donor retention

Don’t just take it from me. “The old growth model is acquiring more new donors than we lose,” says Josh Whichard, a partner at Washington, D.C.’s DonorVoice. The old model, said Whichard, is like a leaky bucket, but one with more water and fewer holes. The new model is to plug more of those holes and need less water. In other words, renew your donors.

Why is it better to renew than to acquire? Lynne Wester of Donor Relations Guru Consulting points out that it’s “7 times more expensive to obtain a new donor than it is to keep the one you have.” Renewing one donor is as good as finding seven new ones!

And Kivi Leroux Miller, one of the leaders in the nonprofit field, tells us that nonprofits have to focus on retention to thrive in the long term, and she adds, “I certainly hope we will see retention grow as a priority in coming years.”

When You DO Need New Donors

Sometimes, though, you just can’t do without new donors. Maybe you’re a new nonprofit, starting out with a small circle of friends. On the other hand, you could be an old organization whose loyal supporters are aging out.

And no matter how many leaks you fix, some donors will always be one-time donors (like the majority of the people who give in honor or in memory of a friend). You need to replace the dollars they give, either by getting your existing donors to give more, or by acquiring new donors.

How do you do find new donors when you need them?

Communication is Key

In the for-profit world, companies are facing an uncomfortable fact. “Experts everywhere proclaim that people are 60% or more of the way through their decision process before they contact you or your company,” says sales maven Jill Konrath.

Nonprofits are in the same boat. Donors today do their research. They look up their favorite causes online, and they check out what you have to say about your organization–and what others say about you–before you ever hear from them.

So, if you want to find new donors, mostly they have to find you first! And when they find you online, they have to like what they see, or they will choose some other organization before you ever send them an email or a newsletter, much less an “ask.”

So, you will need to:

  • Create marketing personas, or profiles of your hoped-for donors
  • Use your communications channels to answer a question or solve a problem that’s bothering them right now
  • Tell memorable stories that move them
  • Make them feel as if you read their mind and knew what they wanted to hear

Introducing You

donors introduce friendsBut the best way you can acquire new donors is by having your loyal year-after-year donors introduce you!

Yes, we’re back to the importance of donor retention. Even for getting new donors, it’s vital to renew  your support from the people who have given to you already.

Think of it this way: Before they will give to you, people have to know you, like what you do, and trust you with their money.  What helps a person get to know, like, and trust your organization more than the word of a mutual friend?

Ways Your Donors Can Introduce You

  1. In person. Ask a thoroughly committed donor to set up a lunch date with one of their friends, to introduce the organization.
  2. Forward an email. Your donor can pass along your message with one of their own, “Kathy, I thought you’d want to read this because…”
  3. Share a post on social media. Again, it helps if they personalize it.
  4. Direct people to your website for timely, topical information.
  5. Just talk about you! “John, did you know that I’m involved with [your organization’s name here]? And I’m excited about it!”

If you don’t think your most loyal supporters will be happy and proud to introduce you to their friends, then your organization is a leaky bucket–and you may need to spend more time renewing your donor support instead!

But you may be underestimating the loyalty of your existing donors. Ask them. You have nothing to lose, and you may have a whole world of new supporters to win. Who are you going to ask for an introduction, today?

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TY Thursday: Thank Your Most Loyal Supporters

August 10, 2017 by Dennis Fischman Leave a Comment

loyalty

Who is your organization’s best friend?

Every nonprofit organization has one: the most loyal supporter.  The person who gives as often as she can, or as often as you ask.  The one who volunteers for all your events and brings her friends.

You’d like a thousand like that.  You’d like to clone her.  What if you could?

Businesses have time-tested strategies that create loyal customers.  Some of these strategies work especially well on social media. Nonprofits can adapt and adopt these strategies to thank our donors, volunteers, and supporters.

Danny Maloney, CEO of the social media firm Tailwind, lists “4 Ways to Turn Social-Media Fans Into Raving, Loyal Customers”:

  1. Use a targeted approach.  Find the people who are already talking about you on Facebook, Twitter, and the web at large.
  2. Let your fans know you’re listening.  “If they took the time to share a blog post you wrote or to give you a positive review, be listening for it and thank them.”
  3. Target your special offers.  Businesses give loyalty discounts.  What can you give your most loyal supporters that they would enjoy: a chance to write for your blog? lunch with a celebrity who also supports you? an award?
  4. Curate compelling content.  That’s jargon for finding and sharing information that interests your supporters.  It could be an insider analysis of where their favorite legislation stands in Congress. It could be a video that explains the issue you and they both care about.

Sharing this content with your most loyal supporters makes them feel smarter and happier because they’re associated with you.  It shows them your gratitude. It keeps them coming back to your social media.

And it keeps them advocating for your organization, increasing awareness of you among their friends…who may become your next most loyal supporters.

 

 

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