3 Steps to Cash In on Existing Donor Referrals
According to Kevin Strickland, founder and president of the Not for Profit Group, more than 80 percent of donors would recommend the organizations they support to another potential donor, and referrals from existing donors are roughly three times more likely to turn into closed gifts than referrals from local accountants and attorneys. Which is all a fancy way to say referrals work.
People trust their peers more than organizations, so getting existing donors to provide referrals is a no-brainer. Yet, many organizations don't ask for existing donor referrals enough. In a recent article for GuideStar, Strickland provides three things fundraisers should do if their organizations aren't routinely asking for existing donor referrals:
- Find out why. Remind the higher-ups that referrals are a proven method for lead generation.
- Include donor referrals on the agenda for your next meeting. Identify which existing donors to target for referrals, plan the approach, and put a plan in place that can be executed deliberately and consistently.
- Challenge staff to try this process for the next few weeks.
Check out the full article here.