What’s a Fundraiser to do During Tough Economic Times?
You can’t open a newspaper or magazine or turn on the radio or the television without being bombarded with something about the economy. The downturn will be around for a while, and we need to deal with it. So what is a fundraiser to do?
Some say you should ‘stay the course’; while others say ‘you need to cut back’. Some charities are mandated to cut back, but how do we do this and stay competitive in a highly competitive marketplace? There are good, solid charitable organizations trying to raise funds for so many worthy causes. We are all trying to get the first gift or the next gift from a shrinking wallet.
How does a fundraiser help to keep costs down and donations up? Here are three ideas I’ve heard recently from fundraising friends:
Reduce the number of mailings
Well, this will save money because you didn’t spend it. But consider the revenue you won’t get if you drop a mailing. It’s better to cut out weaker performing segments and reduce the volume in a campaign, than drop one entirely (unless it’s really not working – then your next steps are obvious).
Also consider that if you aren’t asking for a donation, someone else is, and guess who will get the donation? The one who asked.
Don’t use premiums during a recession
They yield the strongest results when acquiring new donors. Perhaps we reduce the amount of premiums we send to existing donors, but keep in mind that if you acquired the donor with a premium, you probably need one to get the next gift. So, think about these two points before you drop premiums from your strategy.
Don’t bother mailing your long lapsed donors
If they donated a few years ago, then remind them of the time they gave, and why we still need them!
And, don’t be afraid to tell the donor you need them now more than ever! Without our supporters, we can’t do the great work we do. So I think you should “stay the course”, but look at your program, and “cut back” where it makes the most economic sense.
What have you heard lately?
