Five Tactics to Rev Up Fundraising in a Down Economy
For zoos, aquariums, and wildlife and animal welfare groups, a special animal adoption that includes a certificate, a fun educational book and a plush toy is a great gift for children that also supports the organization’s work.
For an arts organization, use premiums like tickets, a poster print or an exclusive music CD sent when a donation is made in someone else’s name.
Create tangible premiums related to your mission and allow the donor’s friends or relatives to receive an actual gift of value as a reminder of your organization’s mission and what has been done in their name.
5. Focus on segmentation and target total net income (not return on investment or revenue).
This is a great time to evaluate your donor segmentation and ensure that you are focusing on the most productive donors. Evaluate each segment by the net income it produces (profit after all costs).
The common mistake is allowing ROI or response rates to drive decisions about not mailing or calling certain donors. The reality is that while response rates or ROI could improve by cutting certain donors, your total net income will decrease. This means you have less money at a crucial time to spend on programs and services.
Contacting donors with lower response might involve greater cost, but that is inconsequential if more dollars come in the door and segments are still reasonably profitable.
Now — versus the thick of the holiday season — is the time to get creative and innovative about your fundraising. Focus on empathy, not guilt or scare tactics. If you empathize with your donors and allow them to empathize with you and the people you serve, this year-end could produce results that sustain you through a difficult economy and also build long-lasting donor relationships.
Randy McCabe is the founder and CEO of MPower.