Aug 25, 2021
Never stop fundraising
Organizing fundraisers and donor events can be a big commitment in terms of time and resources. While you may feel inclined to take a break from fundraising after your event or project is finished, consider doing the opposite. Keep the momentum going and continue fundraising! Continuous fundraising is easier than you think once you know what you can do.
Take advantage of the tools and resources around you to leverage your data, prevent donor fatigue and implement monthly giving options. Doing so can help your organization to never stop fundraising.
Leverage donor and campaign data
Data should be at the heart of a strategic fundraising plan. Leveraging donor and campaign data can be effective and beneficial to keep in touch with donors and give them a more personalized experience. You can take advantage of a few strategies to use your data well:
Keep track of new donors
Most first-time donors will only donate that one time. If you can get them to donate a second time, they’re much more likely to continue donating to your cause. So, how can you target your new donors to keep them around? Leverage your data to reach out to first-time donors specifically.
With targeted messaging and personalization, you can reach out to these donors and increase the chances of them making continuous donations in the future. Although you may have limited data on your first-time donors, use the information they provided to the best of your ability. Using their name and the specific amount they donated in a thank you note can go a long way. Follow up with phone calls and surveys to get more information from them that you can use to keep them coming back.
Focus on donor retention improvement
As you encourage donors to donate more and more, your donor retention rate will increase. Use your campaign and donor data to take your donor retention to the next level. When following up with donors, use specific data from the donation process to build a relationship with them. To create personalized connections, consider including the donor’s name and the campaign they contributed to when you thank them for their specific donation. Include upcoming events or aspects of your organization that will be of interest to the donor.
Know what to ask for
When campaigning to larger donors, it’s essential to already have an estimate of how much you want them to contribute. Use quantitative data to estimate the amount a donor is likely to give. To help determine what this amount may be, look at your records of their past donation amounts to learn what amount they’ve been comfortable donating in the past. You may also consider using a donor prospect database. This research can help you make inferences about a donor’s wealth to estimate an appropriate donation amount.
Locate your next prospect
In addition to knowing what amount to ask for, you need to determine who your major supporters are. They’ll be more likely to contribute larger amounts. To determine who these supporters may be, use engagement data. A donor that consistently gives to your organization, attends events, interacts with your organization, and shows genuine interest and involvement in your projects may be the most likely to contribute large amounts. Locate your most involved donors and cultivate strong connections with them.
Use tactics to prevent donor fatigue
Donor fatigue is when donors feel tired of receiving donation requests. This can occur if you’re repeatedly asking for donations, especially if this is the only interaction you have with your donors. Use the following tactics to prevent donor fatigue:
- Send out more personalized, feel-good interactions: Your donors want to know what their specific donations are being used for. They want to know they mean more to you than just a monetary value. Creating personal connections and interactions through social media, newsletters, and updates will help your donors feel like an important part of your organization.
- Invite your donors to get involved: When your donors are actively involved in events, volunteer opportunities, and projects, they’ll feel more connected to your organization. This can make them more willing to donate when you ask.
- Keep donors in the loop: Giving your donors the inside scoop on upcoming projects and events can make them feel like valued partners of your organization. Invite them to private previews or behind-the-scenes tours, so they’re informed before the public.
- Offer donor benefits or memberships: If your organization provides a service or resource, give your donors special access to your services. Whether you make the service special for your donor or offer free resources, your donors will enjoy their perks.
Lean into automatic monthly donations
Recurring donations are a great tool to take advantage of. This concept is attractive to donors because of the convenience it offers. They can sign up once and avoid the hassle of filling out donation forms every time they donate. Automatic monthly donations benefit your organization because it’s a way to ensure donors consistently make contributions. This can also be a reliable form of financial support because you’ll have a baseline of how much money you’ll receive each month.
Recurring donations can help keep your supporters loyal. This is also a great way to improve retention rates. Donors may be less likely to stop making contributions because they’ll have to take action to end their monthly payments. A monthly program also eliminates the need to send regular donation requests to the donors who use the program, which can help prevent donor fatigue. Recurring monthly donations are an effective way to keep fundraising year-round.
Use fundraising software for continued success
Although time-consuming, fundraising is vital for your projects, events, and organization as a whole to succeed. At GiveSmart, we understand how tedious fundraising can be, which is why we created tools to help improve fundraising and keep track of donor and campaign data. Our fundraising software makes it easy to never stop fundraising. Use your organization’s hub to manage donations, events, silent auctions, mobile bidding, and much more.
Make fundraising easy for your organization and make giving simple for your donors with GiveSmart. Our success managers will help guide you and provide valuable industry experience to your next fundraiser. Contact us today to begin fundraising the smart way.