The best kept fundraising secret in the world
Right about now, most of us are panicking. We’re watching our 401Ks disintegrate before our eyes. Major financial comapnies are crumbling. And fundraising has never looked so tough.
Stop. Take a deep breath and consider this.
Over and over, research tells us the same thing about why people stop giving. And it’s got nothing to do with the Dow Jones.
PEOPLE STOP GIVING BECAUSE THEY ARE FED UP BY HOW THEY WERE TREATED BY THE CHARITIES THEY SUPPORT. Running out of money is far down the list of reasons people stop giving.
Look, it’s reasonable to expect this won’t be a banner year for giving. People are hurting financially. But worrying about their wallets is not going to do you much good. You can’t control the economy.
You CAN control how you treat your donors.
And the best kept secret to fundraising success is: be nice to your donors. Lavish them with love, thanks and special treatment. Because most charities do not. You can stand out and save your donors if you get better at this. And trust me, it’s a lot easier to keep a donor than find a new one. So get better at building relationships with the people who support you.
The latest research proving this is from Bank of America and the Center on Philanthropy at Indiana University (subscription required to view the Chronicle article.) The NUMBER ONE reason wealthy donors stopped giving, according to this study, was they no longer feel connected to the organization or believe they are being asked for money too often. Another top reason: they decided to give to a different charity. Probably related to those other issues, right?
Non-wealthy donors are the same, by the way. They want to know what their donations accomplished, they want to know whose lives they changed, and they want to feel great about themselves and the cause they support. Give them that, as often as you can. Because it matters more than ever.
Note this from the Chronicle article:
Bank of America’s philanthropy experts said that as the economy worsens, donors they work with are increasingly saying they want their dollars to make a difference.
You may not be able to change the economy, but you can convince a donor their dollars make a great difference. Treat your donors well. Give them credit for your success. They are people, not ATM machines.
Syndicate
Ms. Andresen,
My name is Gary Goodspeed. I am vice-president and a Founding Director for Together We Can Change the World and just wanted to say that I agree with B of A’s statement about donors wanting their dollars to make a difference.
What we have found is that that donor sentiment however, many times comes after the donor has supplied theirs and their family’s needs.
We specifically created TWCCTW 7 years ago to address that specific situation. We created a unique revenue stream for non-profit organizations that would not cost them a single extra penny. 19 months ago we added a program called My Power Mall designed to do for the consumer what our original concept was for non-profit organizations.
We have dedicated our time, money and personal income to bring this program about and we would be honored if you would take a look at just how much we can benefit Network for Good and your member organizations.
Here is one more website that will show you some of the kids that our profits go to support. We walk the walk. http://www.togetherwecanchangetheworld.com/twcctwsong.aspx
Please contact me so we can talk. I promise it will be worth your while. Thank you.
Gary Goodspeed