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In the business world, you may have heard that attracting new talent costs much more than retaining employees. Did you know the same principle is true for donors? A recent study by the Association of Fundraising Professional's Fundraising Effectiveness Project concluded donor retention reached a 9-year low of 46 percent in 2016 - despite an increase in revenue and donors overall. What does this mean for your organization?
Click Here to view Infographic With its growth in popularity, social media has become one of the hottest topics in the Nonprofit sector for organizations of all sizes to showcase their nonprofit auction items. Despite its widespread adoption, many organizations still have questions about how to use social media to further their mission and connect with their supporters. Social media is a low-cost, effective marketing and communication channel that allows you to empower your supporters to share your organization’s mission and achievements in an interactive forum. Common obstacles nonprofits face when adding social elements to their communication and marketing efforts include: resourcing, understanding best practices, learning the nuances of specific tools and measuring ROI. As with any new technology, familiarity builds confidence. Having clear objectives will help simplify the planning and execution of a social media plan. It doesn’t need to be overwhelming or difficult. Social Media is a supplemental communication channel that can add tremendous value to your supporters and organization. Click on the image to the right to enlarge the infographic. The information might surprise you!
Fundraising events are for more than just raising money. They are also designed to attract new donors and keep current supporters interested. In order to keep donors returning and supporting your mission year after year, it is important to host successful events. If you’ve been losing donors in recent years, it could have something to do with your fundraising events. When planning and hosting fundraising events, avoid these costly mistakes: 1. Bad timing – Even a really great fundraising event with amazing fundraiser auction items might not attract donors if it is set at the wrong time. An event right after holidays, for example, may not be well attended. Push that event to spring and you will likely get a better response. Multiple events happening in town on the same night could also affect attendance. If your community has some sort of social calendar, make sure your benefit isn’t competing with other big events.
Have donations to your Nonprofit hit a plateau? Have previously active donors suddenly disappeared? Are you having trouble engaging high-level donors? If so, your Nonprofit may be suffering from donor fatigue: Do·nor Fa·tigue noun 1. a lessening of public willingness to respond generously to charitable appeals, resulting in part from the frequency of such appeals. In other words, bombarding your supporters with bland and monotonous appeals for donations may diminish donor interest and weaken your base. We all know a solid donor base is critical to the success of your Nonprofit, which means keeping donors active, engaged and excited. Following are four simple ways to treat donor fatigue and replenish the passion your donors have for your Nonprofit and its mission: 1. Be Choosy About Communication Channels It’s been said before, but it's worth saying again: Communication is key to keeping donors informed and open to giving. Approach each donor – particularly those who donate larger amounts – with an individualized communication plan. Some prefer email over phone calls, others rarely sit down at a computer but love to chat on the phone.
Building meaningful long-term relationships with key donors isn’t a want; it’s a need that’s critical to your Nonprofit’s success. But the process doesn’t need to be difficult. When approached the right way, it can actually be enjoyable for both parties and help boost your funding at the same time. Here are four simple ways to start building relationships and grow your funding: 1. Stay in Touch Communicate regularly, not just during fundraising campaigns. Keeping donors up to date on your organization’s projects and goals is important to keeping them interested and engaged. Let them know you need their support to complete your mission and that they are the ones that make it all possible.
There are numerous strategies for connecting with potential donors and inspiring them to help your Nonprofit. One resource that organizations often overlook is that of donor travel budgets. Vacation travel is a massive global industry. According to a study by the U.S. Travel Association, $597 billion was spent on leisure travel in 2012.
Why do people contribute to Nonprofits? Well, that’s easy—because they feel passionate about making the world a better place and are emotionally invested in a Nonprofit’s mission. If that’s the answer, then why don’t all Nonprofits put the objective of building deeper connections to get passionate supporters at the forefront of their priority list?
One of the most important parts of running and funding a Nonprofit is also one of the most challenging: developing a solid donor base. The fact is, it takes time. If you’re struggling to gather supporters who contribute regularly, you just might need to fine-tune your strategy.
Nonprofits have a lot to accomplish. As a Nonprofit, you have to raise awareness, inspire people to be passionate about your mission, keep donors contributing and raise enough money to make a difference. This is no small feat. How do you form a strategy to accomplish all of these goals? One of the best ways to get the ball rolling is to host a fundraising event.