It’s hard to believe we’re more than halfway through 2018. It doesn’t seem like that long ago I wrote this post – How to Do Better in 2018
I hope your fundraising and communications are going well so far this year. Are they going well? Are you even paying attention to how things are going?
Let’s revisit that post from the beginning of the year. If things are going well for you, great. If not, I have some suggestions on how to do better, and for everyone – how to gear up for year-end.
Evaluate and plan
Are you meeting your goals so far? If not, do you a have a plan in place to get there? If you never made a fundraising plan for 2018, stop right there and put one together now.
Do’s and Don’ts for Your Annual Fundraising Plan
If you’re falling short of your fundraising goals, you may need to ramp up your year-end campaign. Also, your event may not be worth the trouble or you’re seeking out the wrong grant funders.
Spend Time Actually PLANNING to Raise More Money for Your Cause
Figure out your retention rate
Donor retention rates tend to be low. Do you know yours? If you’re behind in your fundraising, you may be losing donors. Figure out your retention rate now.
Retention rates are not that hard to fix, but you need to work at it. Better communication is often the key. More on how you can do a better job communicating with your donors later in the post.
6 Tactics for Increasing Donor Retention
Get in touch with your lapsed donors
Did you ever get in touch with people who didn’t give to your year-end appeal? Before this year’s campaign, figure out who didn’t give a year ago, but has donated in the last two or three years. Send them a special targeted letter telling them you miss them and want them back.
Then make a plan do the same thing in January for anyone who didn’t give. Here you could follow up with a phone call or email. This could help you raise additional revenue.
5 ways to win back your lapsed donors
Start or enhance your monthly giving program
A monthly or recurring giving program is a great way to raise more money. If you don’t have one, plan to promote monthly giving in your next campaign. To get more monthly donors, send a special targeted letter to current donors inviting them to become monthly donors.
Once someone has become a monthly donor, they should get their own appeal letter. One in which you thank them for being a monthly donor and politely ask them to increase their gift this year. Don’t send them a letter that asks for a one-time gift.
Other mistakes organizations make with their monthly giving program are not paying attention if a donor’s gift expires and doing a poor job of thanking their monthly donors.
You’ll notice I’ve made several recommendations to segment your appeal letters. This shows your donors you know who they are and should help you raise more money.
Do a better job of thanking your donors
Most organizations don’t do a good job of thanking their donors. Perhaps they send a nice letter after they receive a donation, although that’s wishful thinking. But the donor love usually comes to a screeching halt after that.
Thanking donors is something you need to do throughout the year. Create a thank you plan to help you with this.
A few things you should do before your year-end campaign. Take a look at your current thank you letter. If it’s not gushing with gratitude, write a new one. This goes for your thank you landing page and email acknowledgment, too. Make sure your letter is ready to go at the same time you launch your appeal. Don’t treat it as an afterthought and send something a month after you receive a donation. You’ll get gold stars if you can throw handwritten cards and/or phone calls into the mix, too. Finally, send a special thank you sometime early this fall. This could be a handwritten note or a postcard with an update. Something by mail is best, but if that’s impossible, you could send email.
Stay in touch throughout the year
This is another problem area. Many organizations go AWOL unless they’re asking for donations. It’s Kind of Quiet Out There Some send newsletters and updates, but these are often boring and focused too much on how great the organization is.
I know you’ll be busy, but you need to communicate more with your donors as you gear up for your year-end appeal. What’s In My Mailbox | How are you *warming up* your donors? You want to be on your donors’ good side come donation time.
Also, take a look at your newsletter and other donor communication. Are you leading with a story and focusing on how your donors are helping you make a difference?
You still have time to do better
If you’re falling short of your goals, you still have time to do better, but you have to work at it. Year-end is, of course, a great opportunity to raise money, as well as build relationships.
Be sure to keep evaluating your progress to help ensure a successful 2018.
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