Pivot from focusing just on acquisition to prioritizing retaining your donors.
Forget what Alec Baldwin dictated in Glengarry Glen Ross. Don’t “Always Be Closing.” Rather, always be building relationships. Always be simplifying your strategies. Always be emphasizing quality over quantity.
This change in approach to fundraising and marketing communications is tricky, but it’s crucial to nonprofit success. Focusing on quality relationships and simplifying strategy—and avoiding a cutthroat “sales” attitude—is the key to successful nonprofit fundraising.
Now, let’s explore three crucial elements you can bring to transforming your fundraising efforts.
1. Cultivate Loyalty: The Power of Retention
Landing a new donor can bring an adrenaline rush. The thrill of the chase can be alluring. And yes, donor acquisition is important to the ongoing success of your fundraising program, but it shouldn’t come at the cost of neglecting your existing supporters. The real fundraising magic happens when you prioritize retention of active donors. Don’t be afraid to dream big: adopting a “100% retention mindset” across your organization is incredibly powerful.
How can you live out this 100% retention goal?
- Delight supporters with personalized experiences that speak to their and strengthen their affinity to your mission. These experiences could include handwritten notes, personal visits, invitations to tour your facility, and so on.
- Connect them to your mission in meaningful ways using tools such as videos, meaningful storytelling, and personalized human outreach.
- Recognize when it’s time to gracefully let go of disengaged donors. (Yes, this goes against the 100% retention dream, but the reality is that some giving relationships naturally come to an end.)
Remember: a smaller, more committed donor base often yields better long-term results compared to a large, disengaged one. Successful fundraising isn’t just about the size of your donor Rolodex.
2. Precision Targeting: The Art of Smart Segmentation
Put away the cookie cutter: gone are the days of a one-size-fits-all marketing approach. Forward-thinking nonprofits are zeroing in on key constituent groups that can provide the most long-term value. What does that look like?
- Identify potential "die-hard advocates" across all giving levels and focus on building relationships with them that can lead to a group of raving fans who love your mission and will share that passion with their circle of influence. (Learn more about this from my article “Donor engagement: building a community of raving fans and life-long advocates.”)
- Develop deeper two-way relationships with these core supporters that drive value to both the donor and the charity by challenging these core constituents to get more involved, for instance by leading a charity event, sharing their passion for your mission on social media, or attending one of your events.
- Focus on cultivating long-term, sustainable giving patterns by modifying the cadence of communication, including direct mail, email, social media, personal outreach, and so on. (I explore this nuanced approach to donor outreach in my article “Moving at a Donor's Pace: A Key to More Effective Communication.”)
In other words, don’t just focus on donor acquisition or courting major donors. Mid-level donors and highly engaged volunteers can become your most valuable assets long term.
3. Captivating Narratives: Reinventing Your Storytelling
Traditional fundraising messages don’t cut it anymore. Falling back on old, tired fundraising tactics will have donors rolling their eyes and turning their backs on you. To truly engage donors, we need to:
- Craft persona and affinity-based messaging that resonates on a personal level. This means not stopping at personalizing messages with boilerplate copy changes such as first name and ask amounts. This won’t make donors feel like you see them as unique individuals. That comes when you develop truly focused variable messages that are based on a donor’s interests and affinity.
- Create immersive stories that go beyond simple impact reports. Instead, dig deep into the ethos of your charity and the change you are making in the world, crafting a story that speaks to the donor’s heartfelt interests that go beyond superficiality.
- Connect donors directly to the individuals and communities they're helping by creating special events and engagement opportunities that are fun and develop a vibrant, appealing personality for your nonprofit.
Your goal should be to provide donors with a deeply fulfilling, participatory experience. Even if they can’t physically volunteer, they should feel as if they’re working alongside and through you to better the world. This is the time to think outside the box! Think creatively about how to bring your mission to life through compelling narratives and interactive content.
The Key Takeaways
Success in fundraising has to go far beyond finding ways to attract new donors. (I know, the shiny new toy is attractive, especially as Christmas approaches, but your existing donors need love too.) Implement these four principles to ensure success:
- Obsess over donor retention, but now when to let go gracefully.
- Reimagine your donor base, prioritizing quality over quantity.
- Invest in storytelling that creates a profound emotional connection.
- Develop a revised and refined cadence of communication that resonates with the donor in meaningful ways.
By focusing on these elements, you’ll build a more engaged, loyal supporter base that will sustain your organization for years to come. Remember, fundraising isn’t just about the donations, or how successfully you “sell.” It’s about creating a community of passionate advocates who believe in your cause as deeply as you do.
