Know your Donors; Increase your Contributions
The economy has been in a downward spiral for quite some time now. Do you think nonprofits should use this in order to persuade people to contribute to their cause? According to a study in 2014, using the downfall of the economy as a way to have donors give back to your cause is not the smartest idea. Luckily, the 2014 study was able to gather data on over 15k people about why specifically they decided to make a contributions to a certain charity. From the information gathered, only 1 in 4 of the people admitted that they were unable to donate their money because of the economy.
Nonprofits want to increase their contributions to their organizations and to do this successfully while capitalizing on knowing your donors, follow the steps:
1) Realize that all donors are different
Don’t put all your donors in a box. Most people do not like to be treated like they are in a category with everyone else. Donors want to be treated like they are special, because they are! After all, they are the ones considering giving an organization time, effort & money to your charity.
If your organization knows what makes them want to give, then they can effectively market to those specific donors. Effective marketing both saves an organization money and increases the contributions that come in. By not appropriately marketing to the correct donor type, it will cause a nonprofit to miss out on key opportunities.
2) Donors: Older vs younger generation
Older donors for example, 65+, are more likely to give to well-known and established cause. These donors are also more likely to give to a cause BECAUSE OF the failing economy. Th older generation will give when they are clearly shown where their money is going, how the money will be used to accomplish its mission, and if they feel that specific organization is in the process of reaching its goals.
On the other hand, the younger generation is more likely to give to new causes. This group of people is less focused on where the money is being donated and is more interested in being a part of a community of givers. If these donors can team up with other donors that support their reasons for giving to a certain cause then they are more likely to donate.