With college basketball team eliminations being in the spotlight in March, we thought it a perfect time to help eliminate some of the top challenges many nonprofits are facing today. Here are the top three challenges we hear about the most:
1. Donor retention
Retaining donors in today’s multi-channel environment has become more complicated — and more important — than ever. Keeping your donors engaged today requires more breadth of communication as channel preferences evolve and expand. It’s important to consistently stay in front of donors to maintain the relationship by providing consistent giving opportunities and stewardship, including reporting back, success stories and accomplishments.
Channels that are now vital to maximizing donor retention are:
- Direct Mail
- Outbound Tele-fundraising
- Digital Media Cultivation
2. Acquiring new donors
Acquiring new donors has become far more difficult in recent years due to fragmented giving across a much wider variety of organizations — from charities like yours to a neighbor’s GoFundMe page. Today’s audiences respond to a much wider array of channels, which means your organization needs a louder voice in more places. Direct Mail alone is no longer enough. Neither is a solely digital approach. To win acquisition game, you need to be where donors are, which requires coordinated efforts to maximize performance. Timing, channels, and emotionally compelling stories are needed to introduce potential donors to your organization before you make an ask.
3. High ROI
Attaining higher ROI requires a combination of acquiring a combination of high volume, medium value donors, along with high value, lower volume donors across a wide variety of channels. Long-range financial planning is essential to assuring your organization is not only growing, but acquiring, cultivating, and retaining the right mix of donors to maximize long-term net revenue. Short-term decisions can damage long-term organizational health. Two key things to do to improve ROI:
- Build a monthly sustainer program
- Channel mass market donors into mid- and major-donor programs
Need help on these efforts? We’re on your team.