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Roger Craver
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Inexpensive ways to improve your bottom line
- Act today like there will be no new donors tomorrow.
- Focus on retention. Pay attention to upgrading and downgrading. And pay particular attention to which acquisition channels (direct mail, online, face-to-face, etc.) are retaining best and worst.
- Focus on share of wallet. Be aware of what organizations are getting the larger share of your donors’ wallets. “Mission competition” – the competition between organizations in the same sector — is more important than ever.
- Invest in research. Understand what makes your most loyal donors loyal. What makes donors disaffect? Understand whether your mission and message are still relevant. Know which sources of acquisition have the best retention.
- Test your message. Times have changed. Use multivariant testing to make sure you’re using the right messages, spokesperson, images, involvement and positioning.
- Revisit prospecting tactics. Look carefully at the past and present to determine if factors such as timing, channel, audience and involvement have changed. Learn about and begin testing predictive modeling.
- Rekindle the love. Go back to your lapsed donors with new messages and new offers. This is a rich vein of support that many organizations overlook.
Discover hidden pockets of gold
Focus on “loyalists” and “recruiters,” and develop special programs to attract, reward and put them to work. About 20 percent of every donor file comprises loyalists — another 20 percent recruiters or “missionaries.”
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