6 Simple Tips to Increase Donations to Your Nonprofit
Bringing new donors on board is more expensive and tedious than keeping an existing one.It can cost you five times more to get a new donor than retain an existing one. The value of a donor who funds a nonprofit happily outweighs a donor who gives once. Nonprofits are aware of this, but unfortunately, most of them spend much of their resources engaging potential donors than trying to retain the existing ones. These are a few lethal strategies that can help increase donations for a nonprofit organization.
Provide Your Donors with the Right Tools
Optimizing the purchase down to a single click is one thing that has made Amazon a billion-dollar brand. The same applies when it comes to sourcing funds from donors. One thing that can discourage a top fundraiser is giving them a clunky platform. Instead, provide them with a user-friendly and powerful fundraising tool such as DonorDrive, Classy, and Bloomerang.
Thank Your Donors
It unbelievable that even world-class organizations with lots of resources often forget to thank their donors once the funds have been deposited to their accounts. However, recent research has found that thanking donors can increase the chances of them funding you in the future. Saying thanks can trigger donors to raise their funding.
Make the Agenda of Your Donors Yours
One thing to keep donors committed and interested in your initiative is to support their agenda. You can achieve this by commenting and retweeting your supporter’s blog posts. Holding some events at one of your fundraiser’s local restaurant can as well demonstrate your commitment to their agenda.
Plug up Your Website’s Holes
Nonprofits have critical pages on their websites. Nonprofits can use these pages to ask their donors to either join their email list or donate funds. Sadly, these pages are sometimes the reasons why potential donors are not giving out as much as they would.
Communicating and achieving measurable outcomes is one of the many reasons online donors continue to fund nonprofit organizations. That means nonprofit organizations should share their outcome reports with their donors to keep them motivated. A not-for-profit organization can consider sharing its success stories on different social media platforms to try to generate engagement with potential donors.
Cause Marketing Partnership
Cause marketing refers to a partnership between a for-profit and nonprofit entity for mutual benefit. Unfortunately, nonprofits often underutilize and overlook this strategy when raising funds. The internet is cluttered with a lot of tips that can help a nonprofit entity create a cause marketing strategy.
But remember that trying to get everything done perfectly could be detrimental to your efforts. Instead, nonprofit organizations should try to break their retention strategy down into doable segments for maximum success.