August Course Corrections
On the one hand, the fundraising year is almost two-thirds over.
On the other hand, the ‘highest yield’ third of the year is just about to begin. Many fundraisers are using the ‘lull before the storm’ to ready your fundraising weapons and reaffirm or fine-tune your fall/year-end fundraising tactics.
And … revisit your fundraising projections. How much of your annual revenue are you expecting to take in over the final four months of the year … 50%? Two-thirds? More?
Have you fallen short year-to-date? Where on the direct marketing side — acquisition, renewals, appeals? Why? Where else — major gifts, foundations, events?
And if so, how much of the shortfall can you hope to recover? How?
Are you being realistic, truthful?
All of the remedial plans, all of the acceleration plans need to be in place for September. After that, there won’t be much time to reflect and re-consider … only time for rapid-fire implementation.
August is a great month for getting prepared.
Or can it wait!
Tom
2 responses to “August Course Corrections”
Behavioral Science Q & A
Integrating an individual giving appeal with other communications from a charity can have both positive and negative effects, and the outcome largely depends on how it’s executed. Advantages of Integration Brand Consistency: Maintaining a consistent appearance and messaging across all communications can reinforce the org’s brand identity and strengthen brand recognition and trust among your […]
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I’m not aware of any in-market tests specifically comparing recurring vs. gift frequency language. I suspect the answer might not be the same with all gift frequencies, nor with all people. It sounds like a great opportunity for you to test and find out what works for your audience. Based on the literature, here’s a couple […]
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Based on what we know from existing data, those renewal notices can actually be pretty effective in getting people to donate. They tap into our psychology – creating a sense of urgency, reminding us of past support, and using personalization to make the message hit home. They’re playing on our natural tendencies to feel obligated […]
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Interesting question. I had a quick look at the testing done on this topic. On the positive side, in all cases, over half of donors decide to cover the fee. In some cases, it goes as high as 65%. Not a negligible percentage at all. Here’s another test from iRaiser showing consistent results (see point […]
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There’s just one thing to consider when designing a supporter journey: the supporter. More specifically, you need to take into account: Who the supporter is i.e. their identity, which is the reason they support this cause, and their personality, which describes the way they “see” and process the world. These will determine the kind of […]
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I’m not an expert in this but a quick search surfaced this article on the effect of tax reforms on 2019’s charitable giving. The researchers didn’t find a reduction. Actually, they observed an “increase in charitable contributions in 2019, even with the lower tax rates and the dramatically smaller number of taxpayers who itemize their […]
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I like the fact that you’re reminding us…… The fundraising year is NOT the organization’s fiscal year. The fundraising year is the donor’s fiscal year …. which in the U.S. is the calendar year.
Thanks for the reminder, Tom. Knowing if you’re on track with retention and revenue is vital to ensure you’re headed into ‘Year End’ with optimal strategies.
6 metrics that every fundraiser should know [and can access in minutes]
* Single Gift Donor Conversion
* Retained Donor Retention
* Lapsed Reactivation
* Revenue from ‘General’ [lower dollar donors]
* Mid-Level donor revenue
* Major revenue
Understanding FYTD performance will guide and influence ‘year end’ upgrade and investment strategies.
If you can’t easily get your hands on this information, give me shout.
caity.craver@donortrends.com or get started immediately: https://gui.donortrends.com/#!/register