Not for profit organizational structure is based on funding, funding from a random donor, that can include a big name for just another ordinary man on the list. Charity is something that adds value to life, a sense of satisfaction that you are helping someone somewhere in need. That’s why we see a lot of charitable institutions working towards improving human standards, Heath hygiene, etc. all around the world.
But not all donations necessarily mean donating to charitable institutions, some may go to an organization like NGO, wildlife reserves, Heritage sites, etc. donors give for noble, charitable, social, developmental and cultural issues. Therefore, retaining your donors is as critical as making new ones.
Here are five things that you must know about your donor for your organization to work productively throughout the year.
1.
Plan your year by reviewing previous year: Now this may sound like a strategy, but it’s true unless you analyze the last year you would know, which donor sent you maximum funding. This is an
excellent fundraising strategy as well. You need to spot all significant donor, pick them up, study them, understand what made them donate to you. It will help you focus on things that had attracted donors to your organization and would help you plan on a similar line to raise funds for the coming year.
2. Donors don’t stay forever: Well that’s the truth, donors that you acquired, may not contribute again or may contribute for one or twice more. The donor retention ratio is just 40%. So this means you cannot rely on old donors for finances to your NPO. You must work out ways to promote your organization to get new donors year after year.
3. Be great fun to your loyal donors: Donors are not your partners, so when they send you funds, your words of appreciation should come floating to them. Invites to the social event of significant media attention of your organization must include a list of your loyal donors who have been sending you funds over the years. It’s not only funds, those donors who acted upon your emails, attending your invites, participated in your social drives, etc. must be approached with more open words as they add the attention to your organization.
4. Aim for donor retention from the very beginning: Right from the moment a donor enters the payment gateway to donate to your cause, you should follow up, to communicate, your gratitude, how the fund helped your purpose and how you will utilize that fund for the intended objective.
5. Use data-driven techniques to streamline your organization: Do not overload yourself with a massive quantity of data. Practice statistics with logistics to carefully analyze data that is most useful to you. Using previous years data topline your database with most effective donor data, fundraising events, and programs. Work in these to increase valuable contributions by donors.
You crust have come across numerous
charity websites, which work in different parts of the world for various causes. Ever wondered how they are funded? Well, donors are the key. Business owners, entrepreneurs, celebrity, sportspersons, agencies and even individual donors all contribute to charitable organizations to lend a helping hand in improving the society and making the world a better place.