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8 Steps to Fundraising Success
The document outlines an 8-step process to successful fundraising, emphasizing understanding the environment, defining a vision, effective communication, and engagement strategies. It highlights the importance of donor retention, stating that a 10% increase in retention can significantly boost the lifetime value of a donor. Key retention drivers include consistent communication, personalized engagement, and transparency about how donations are utilized.
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8 Steps to Fundraising Success
- 1. 8 Steps to FundraisingSuccess July 16, 2013 Kirsten Bullock, CFRE| Jay Love
- 2. About Kirsten • Camp •Brother • Theater • Social Work • Business • Nonprofits
- 3. STEP ONE: Understand YourEnvironment
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- 9. STEP THREE: Communicating YourVision (or the case for support)
- 10. Case Statement • TheNeed • The Program • The Cost • Why You?
- 11. STEP FOUR: Who toAsk • Linkage • Ability • Interest
- 12. STEP FIVE: Get theWord Out
- 13. Raising Awareness High Engagement Recruitfriends/family Upgrade monthly donation Signup for monthly giving Renew single donation Make single donation Make a phone call Write a letter Attend a "real world" event Sign petition Viral / Tell a friend Send an e-postcard Subscribe to e-Alerts / Issue Alerts Subscribe to eNewsletter Visit website Low Engagement Source: http://groundwire.org
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- 15. Asking for aGift
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- 18. STEP 7: YOURPLAN
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- 20. STEP EIGHT: BuildYour Team
- 21. Visit www.HelpforSmallNonProfits.com/goldmine to requestyour Fundraising Training Gold-Mine! *Just $19.95 for shipping
- 22. Double the LifetimeValue of Your Database! Jay B. Love CEO & Co-Founder Bloomerang 22
- 23. “The total netcontribution that a customer/donor generates during his/her lifetime in your database” 23 Defining Lifetime Value »
- 24. “Active donor commitmentis the enduring passion for your nonprofit. Inspiring donors is key for loyalty.” - 101 Fundraising Lifetime Value = Donor Commitment 24
- 25. What does a10% increase in donor retention rates mean in terms of LIFETIME dollars raised? • 50% • 100% • 150-200% Do you know your Retention %? » 25
- 26. Improving donor retentionrates by 10% can improve LIFETIME dollars raised by? • 150-200%! (Do we have your attention yet?) 26 Is Retention important for NPO’s? »
- 27. Let’s dig evendeeper into “actual” NPO data . . . 27 This scares most NPO Board Members » Donor Attrition Over Five Years # of Donors Attrition Rate Donors Remaining After 1 Year Donors Remaining After 2 Years Donors Remaining After 3 Years Donors Remaining After 4 Years Donors Remaining After 5 Years 1,000 20% 800 640 512 410 328 1,000 40% 600 360 216 130 78 1,000 60% 400 160 64 26 10
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- 29. Addressing the RetentionProblem! Is it a Donor Relationship Problem? 29
- 30. CUE THE EXPERTS: Dr.Adrian Sargeant Bloomerang Chief Scientist Professor of Fundraising at the Center on Philanthropy at Indiana University holding what is presently the world’s only endowed chair in that discipline. Top 10 Most Influential People in Fundraising Renowned expert on Donor Retention and Donor Loyalty 30 Mr. Tom Ahern Bloomerang Donor Communications Head Coach One of the world’s top authorities on donor communications Author of 4 books on Donor Communications Winner of 3 prestigious international IABC Gold Quill awards
- 31. DONOR RETENTION BESTPRACTICES Dr. Adrian Sargeant Bloomerang Chief Scientist 31 “A 10% improvement in retention can double the LIFETIME value of your donor database!”
- 32. # of Donorsin Current 12 Months (from the previous years pool) Divided by # of Donors in Previous 12 Months Calculating Your Retention Rate » 32
- 33. Donor Retention MadeSimple 33
- 34. $1000 + $500 -$1000 $100 - $500 $25 and under annually $25 - $100 Value 34 Value Segments »
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- 36. Why Do CustomersLeave? (can this apply to donors . . .) • Death 1% • Relocation 3% • Won by Competitor 5% • Bad Complaint Handling 14% • Lack of Interest from Us 77% 36
- 37. Key Reasons ForDonors Leaving • No longer able to afford support • No memory of ever supporting! • Organization asked for inappropriate sums • Feeling that other causes are more deserving • Not reminded to give again • Organization did not inform how monies were used • Did not feel connected! 37
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- 39. Automatic Engagement Factors 39 •Recency and pattern of giving • Cash donors vs. sustaining donors • # of years giving + • Upgrade / Downgrade + - • Lapsed - • Event attendance + • Opens email + • Click links in emails + • Unsubscribes from email - • Has stated communication preferences + • Has inbound interactions + • Has soft credits + • Volunteers + • Social Media (coming soon) • …and a whole lot more!
- 40. 6 Key RetentionDrivers (That can double lifetime value) • Drip feed mission performance data • Connect often • Be personal (SEGMENT) • Develop like a good personal friendship • Find & use numerous human connectors • Always communicate what monies are doing! 40
- 41. Conclusion: So Strive For: •Donor Satisfaction • Donor Commitment/Engagement (which . . .) • Donor Trust • Donor Loyalty (close your eyes) Doubling Your Lifetime Value = ? 41
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- 43. Contact Information: Kirsten M.Bullock, MBA, CFRE Growing Your Donors kirsten@growingyourdonors.com 502.708.1020
Editor's Notes
- #3 Now I have to confess, when I was growing up, I did not dream about becoming a fundraising professional some day. I’m pretty sure I didn’t even know that it was a possibility.But, I was introduced to nonprofits from a very young age. I spent about 10 summers, from age 2 to age 12, at a camp for kids with physical disabilities. That experience, combined with having a brother with Duchenne Muscular Dystrophy, had a profound impact on my life. It taught me to get to know people on the inside – rather than making assumptions. And, it taught me that there are lots of little ways that I can help make the world a better place.It was at an Arts school in North Carolina, majoring in Stage Management, when I was first introduced to philanthropy. My work study assignment was in the Foundation, making copies of news clippings about famous graduates. Four years later, when I was working towards my Bachelors degree in social work, I ended up completing my internship at the foundation at a local hospital – and I was hooked. After taking a break to complete my Masters in Business, I returned to nonprofits as the development director for a community health center. It was there that I experienced the thrill of growing a development program from the ground up. In a three-year time period, we went from $200,000 to $1,378,249 in non-federal grant funds raised. In addition, they had been through five different development directors in the five years prior to my arrival. But since I left that position over ten years ago, they’ve had just one.Since that time, I’ve had the honor and privilege to work with over two dozen organizations in various capacities. These have ranged from small local startups to multi-million dollar organizations. But enough about me. Let’s get started!
- #39Â Donor Engagement