More On Public Perceptions And The Economy
Here is yet another poll on public perceptions of the economy and personal finances … this one from Discover Financial.We’ve reported two similar polls from USA Today and Pew Research in the past few days.The Discover findings point to a consistent trend that might be of interest to fundraisers … people seem to be much more pessimistic about the broad economic outlook than they are about their own personal finances. And so their response as consumers is to remain relatively optimistic, but to temper that optimism with more cautious personal spending.According to the Discover survey (conducted in September):
- 55% rate the economy as performing poorly;
- 70% expect things to get worse;
- 63% say they will spend the same or less in the coming month; but,
- only 20% rate their own personal siutation as poor; and,
- 40% rate their personal financial situation as good or excellent.
What might this mean for fundraising?Don’t despair. It would not appear that your donors will be locking their wallets in a vault. But they will certainly be more restrained, and your appeal will need to be genuinely compelling. “Same old, same old” will not work.Fundraising messages should be presented in today’s context, explaining how your need is important and timely enough to deserve their support even while they are tightening their belts. You might even want to explain how your nonprofit is indeed tightening its belt and saving money here and there … yet pressing needs remain … and you’ll stretch their dollars further.Most importantly, don’t stop asking!Tom
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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