Engage Conference Spotlight: Increasing Long-Term Value of Premium Donors
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On April 10, FundRaising Success is hosting its second annual Engage Conference. Engage is the only case-study-focused fundraising conference focusing on the keys to success from organizations that have successfully made the leap from just-getting-by nonprofits to powerhouse organizations. Leading up to Engage, we will be highlighting content from the participating organizations and speakers that we've published over the years.
Yesterday, we took a look back at "The Give and Take of Premium Mailings." And while it's fairly established that premium donors generally do not have the same long-term value as other donors, there are steps fundraisers can take to increase the long-term value of premium donors.
Jennifer Bielat, vice president of direct marketing at Easter Seals and member of the FundRaising Success Editorial Advisory Board, tackled that very topic in October 2005. In her article, "Increasing Long-Term Value of Premium Donors," she wrote: "A premium in a mailing typically drives a higher response rate and lower average gift. As a result, premiums attract a significant number of lower-dollar donors, which can be difficult for organizations to renew and upgrade. Although the average gift for premium mailings is on the rise, the long-term value of these donors still presents challenges.
"Securing a larger initial gift from new premium-acquired donors is key to increasing donor value. Following are some test strategies for increasing initial acquisition gifts and ultimately improving your long-term donor value."
Bielat will lead the roundtables on donor retention at the second annual Engage Conference this April in Philadelphia.