There is no ‘magic potion’ for successful fundraising.
Fundraising mistakes sometimes happen, too, and they can’t be fully avoided. But by following a few simple principles and applying some ingenuity, you can minimize the mishaps and enhance your positive outcomes.
In this article, we’ll share five common fundraising mistakes nonprofit organizations make in their fundraising efforts along with some helpful advice to boost constituent participation and maximize your results.
Mistake #1: Overlooking the importance of motivation
When you strike an emotional chord with the right audience, they’ll be more likely to open their wallets and donate generously. Let your members know how they are helping the community and how they can do even more. Explain how your organization’s programs are benefiting society and share stories and pictures of your community events. Include this information on your website, social media, campaign emails, and any other communications at your disposal to get the word out.
Mistake #2: Failing to learn about your constituents
Members, donors, prospects, and even the public at large all represent potential patrons for your fundraising efforts so use the data at your disposal to find out about them. What merchandise are they buying? Which events are they attending? Are they attending your online programming? Understanding peoples’ interests is important when it comes time to developing the messaging for your donation requests. As you begin your fundraising planning, assemble and analyze every source of information available to you. Then, segment the data and create specific messages designed to appeal to each target audience.
Mistake #3: Overwhelming people with donation requests
The last thing you want to do is bombard your members with appeals for contributions. That approach could backfire in a big way, and might even cause your membership numbers to take a nosedive. Instead, include people in the campaigns that reflect their demographics and interests. Do they participate heavily in family-friendly events? Include them in your campaign for educational programming. Do they frequently attend events in the evening? Invite those folks to the annual gala. Speaking to individual interests and preferences increases the odds that they’ll become patrons.
Mistake #4: Focusing on one-time donors
Whether it’s a large or small donation, every dollar counts. But when it comes to nonprofit fundraising, monthly giving reigns supreme. These recurring donations have a much higher return on investment compared to one-time giving programs. Monthly donors also have a higher retention rate and they help your organization maintain a steady stream of income throughout the year. They are relatively simple to manage while making giving easy for donors, as well. As you develop your magnificent monthly giving program, promote it heavily and be sure to showcase the impact of your patrons’ contributions.
Mistake #5: Failing to show your gratitude
This one is a biggie. You already know it’s vitally important to thank your donors, so do it right. Within your gratitude message, take the opportunity to reinforce the story behind your organization’s philanthropic efforts. Remind them how their generosity will make a difference. And be sure to share the details of what you were able to accomplish because of their benevolence.
IBC delivers elite, award-winning software consulting services to membership organizations of all types and sizes. If you’re ready to maximize your fundraising efforts and avoid fundraising mistakes, please contact our helpful professionals today.
About IBC: At IBC, we have a deep understanding of the critical business needs and processes specific to associations, non-profits, and unions. We ‘get’ your culture, your goals, and what drives you, too. Focused exclusively on and dedicated to delivering the most effective AMS, LMS, and Cloud Financial Software for our clients, we’re well-versed in identifying and applying the integration techniques that will save you time and money. Since 2001, our cutting-edge products, unparalleled responsiveness, and award-winning services have helped organizations like yours increase their operational and financial performance by leveraging best practices and proven solutions. For more information about IBC, please visit the website at www.ibconcepts.com or call 443.603.0215.