INCREASING GIVING: MOVE DONORS UP THE FUNDRAISING PYRAMID TO REACH THEIR GIVING POTENTIAL
At the base of the fundraising pyramid are a vast number of one-time or potential first-time donors. They’ve shown an interest in your cause but haven’t yet entered a stable relationship with your charity.
Further up are the loyal donors who have become engaged and are prepared to give more significant amounts, more often. These major donors tend to give on a more philanthropic level and have the funds to help complete projects or make a tangible difference to the organisation.
Right at the pinnacle of the pyramid are the planned or principled givers – people who can be relied on to help charities achieve their goals through future giving, namely bequests, to the organisation.
Maximising giving potential doesn’t involve luck
While donors may be drawn to your cause for their own personal reasons, stewarding them from the bottom of the pyramid to the top to help them reach their giving capacity is a scientific approach that involves the use of data analytics combined with philanthropic psychology.
If most of your donors fall into the bottom two sections of the fundraising pyramid, here are five strategies that will increase their giving by encouraging them to move further up the fundraising pyramid to help you reach financial targets.
1. Identify giving habits
Data analysis can determine the times your donors prefer to give. Early in the morning when they’ve set their intention for the day and are ready to carry them out, or late in the evening when they’re feeling relaxed. Or, somewhere in between.
By identifying the time triggers for donations, information that’s available from SupporterHub reporting, you can set various email and social media campaigns to deliver at the precise times that a ‘yes’ is guaranteed.
2. Run surveys
Get to know your donors.
What are their ages, are there more female than male donors, what hobbies and sports do they enjoy, and what is their motivation for giving? You can find this information and more by merely running a survey and asking them.
You can then target campaigns accordingly. For example, a campaign to rid the oceans of plastic will resound most with those who use the ocean – like surfers, young families, and fishers. The language can be tailored to appeal to those groups and their particular concerns regarding plastic in the oceans.
3. Analyse data
Learn how to analyse data generated from your own research and surveys.
Collecting a stream of data is of no use unless it’s thoroughly analysed and implemented into a strategy to move donors up the giving pyramid. The better you know your donors, the better your stewardship will be in increasing their commitment and support of our cause.
Further, use national and global reporting to position yourself within benchmarks set by the whole sector. Your Public Interest Registry, with Nonprofit Tech for Good conducting the research sponsors the Global Trends in Giving Report https://givingreport.ngo/ which summarises donor data from six continents.
You can find out how global NGOs utilise tools such as social media, online giving and SMS campaigns to increase the giving potential of their donors. These trends coupled with your own database analysis will help you cultivate campaigns that are scientifically structured to meet the needs of your donor.
4. Check email and donor lists regularly
Always make sure donor data is completely accurate and use the first or preferred name and appropriate titles when running your campaigns.
Every donor must feel like you know and care about them to encourage them to give at their maximum potential. Meticulous attention to their details will guarantee this.
5. Build relationships
Run reports on donors who give over a set amount and call or visit them regularly. Not just to ask for money but to engage them with the wider mission of the organisation. Let them know how their gift has specifically helped your charity, thank them, and discuss plans for the future.
Invariably, once a donor is engaged with your charity, the level of giving will naturally increase accordingly. When you tell a donor about a new project, they may respond by asking what is needed to get the project off the ground. If it’s the owner or CEO of a company, you may well find that the person will get staff involved in the project, but this will only happen if you are in regular touch, and not just to ask for their support.
SupporterHub is a CRM and data analysis tool that can track individual metrics and giving habits to help you create campaigns that directly encourage donors to reach the next section of the fundraising pyramid.
Contact us today for a no-obligation discussion.