Yesterday I said that, in order to inspire a monetary exchange (for profit or nonprofit), you must provide value to others. I said that I think the problem with fundraising is that nonprofits think fundraising is “different” from other forms of marketing and sales when it isn’t. And that is actually why so many organizations are so bad at fundraising, resulting in retention rates at all-time-lows!
Here are 2 steps to fix the problem:
Step 1 –
Recognize that your supporters are flat-out sick of the way fundraisers treat them! Your supporters want value. They want offers that provide fair value exchanges for dollars — not to be treated like ATM machines (by fundraisers who think that giving is different than buying). Perhaps this is what’s really holding philanthropy back (the U.S. share of donation dollars has been stuck at 2% of GDP for decades).
Step 2 –
Decide that it’s time to end the old ways that aren’t working. Why not try to get giving to reach 4% of GDP while we lower costs by 50%? How? Provide more value to donors! It’s time to change the paradigm. It’s time to think in terms of donor needs and how nonprofits fulfill those needs. It’s time to stop thinking that buying and giving are different.
The fundraisers that take these steps will raise more money at lower costs using smart strategic thinking and smart tactical marketing.
A value-oriented donor-centric ideology will provide highly relevant, meaningful offers to donors.
Highly relevant, meaningful offers will inspire donors to dig deeper into their wallets to give more — and to do it over and over again.
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