Two easy donor audiences are waiting to be found.
As prices for, well, pretty much everything are on the rise, it seems that every nonprofit is looking for ways to spend less and raise more. It’s an age-old song.
At the same time, I often see nonprofits lose sight of “spending less” and instead rush to spend thousands of dollars chasing the newest shiny object in direct response fundraising. It’s as if they’re looking for the same thing my sister once told me she wanted in a fitness routine: minimum effort, maximum results. Ignore the price tag.
As they follow the next big idea, these nonprofits are overlooking two of the best . . . easiest . . . and cheapest groups of donors who’ll return the most fruit immediately. Because sometimes the easiest wins aren’t the fanciest.
At AmPhil, we like to say the best results often come from doing the right thing, the right way, consistently over time.
So, while I’m all for testing new ideas, it should never be done at the expense of ignoring these two easy audiences.
Your Best Candidate for a Gift TODAY
There’s a really common myth that persists in nonprofit development circles: that the multi-millionaire in your county is obviously the best prospect for making the next big gift. She has a high net worth, so why wouldn’t she, right? That’s likely not the case.
In reality, the best prospect is one who’s already in your donor file. It’s the donor who just gave you a gift last month. Or two weeks ago. Or even yesterday.
Yet too many nonprofits fear asking recent donors for another gift. They’re terrified of seeming greedy.
But think about a recent shopping trip. Maybe you went to Old Navy for this year’s family Fourth of July T-shirts, then stopped at Starbucks on the way home. What landed in your email inbox the next day? Probably a coupon for 15% off your next Old Navy purchase. Or an ad for the newest Starbucks beverage.
For-profit marketers understand that the easiest sale to make is to a recent customer. You’re fondly remembering how refreshing that iced coffee is—and now you can earn even more rewards by buying another? Sold!
Your donors think exactly the same way. They’re excited about their giving and how it’s making a real impact in someone’s life. There’s an endorphin rush that accompanies their donation.
If you show up in their mailbox or their inbox with another opportunity for the same good feelings, your donor is much more likely to respond than the multi-millionaire who doesn’t know you exist and chucks what they see as junk mail.
Take these numbers from one nonprofit’s direct mail program as an example: their highest responding donor group were those whose last gift was in the last six months. If it’d been seven to twelve months, response dropped by half. After thirteen months, response dropped in half again. And again.
Don’t give in to the fear of bothering your donors. They like you! They want to hear from you! And they want to help. All you have to do is ask them.
The Easiest Donor to Acquire
The other audience who are often overlooked are the best candidates for donor acquisition. Imagine you’re on a mission to bring in 500 new donors this year. You rent lists and exchange names with other nonprofits, and if you’re lucky, return a 0.75 percent response rate . . . but you’ve forgotten one critical list: your own deeply lapsed donors.
These are donors who haven’t given in years—three, five, ten, or more.
But this group has already shown that they are invested in your mission, even if they haven’t supported you in a while. Maybe their financial circumstances changed years ago—a lost job, kids in school, or a down payment on a house.
It’s been so long, you stopped asking (if you remembered to do so in the first place).
But you shouldn’t be afraid to reach back out once or twice a year and reintroduce yourself and your mission. Many organizations who’re doing acquisition mailings like the one I mentioned above include those donors as part of their acquisition campaigns.
Find your most winning message and send it to those donors. I bet you’ll find they’re more responsive and more generous than any list you can rent.
Take one nonprofit I worked with as an example of how effective this approach can be. They included a small group of lapsed donors in an acquisition effort. A month later, one of those donors walked in the door with a $5,000 check. It had been years since his last gift, and the organization had given up on him—but he just needed a reminder to reengage.
At the end of the day, don’t take silence for a lack of interest. Rarely do you know a donor’s life circumstances. It may not have been the right time a few years ago—but today might be that day.
In Summary
Curiosity is a wonderful thing. New ideas and new methods can reap big rewards. That’s why I’m always excited about experimenting with a different approach to fundraising.
But while we’re trying new things, we can’t overlook the tried-and-true methods that are the bedrock of good fundraising.
Ask recent donors for another gift. You’re not annoying them. Don’t be afraid to go back to long-lapsed donors and ask again. You’re not annoying them, either!
Do the right things, the right way, consistently . . . and you’ll see the fruits of your labor.
