The Status Quo:
For years, the fundraising mantra has been consistency – maintain a steady course, acquire new donors, and watch the funds roll in. However, the landscape is shifting. While the rate of new donor acquisition has remained relatively stable since 2017, the income yield has significantly declined post-pandemic, signalling a crucial need for fundraisers to reconsider their approach.
Understanding the Dynamics of Bold Asks:
In fundraising, there's a growing recognition that users respond positively to charities that boldly ask for gifts or increased giving. Contrary to the notion that assertive requests may deter donors, studies show that supporters appreciate transparency and directness. When charities confidently communicate the impact of larger donations and articulate the urgency of increased giving, donors are more likely to engage meaningfully with the cause. Bold asks not only inspire donors to become true partners in the mission but also foster a culture of trust and authenticity. It's time to embrace the fact that being forthright about your organisation's financial needs is a powerful and effective strategy that resonates with your supporters.
The Power of Bold Asks:
The key to overcoming this challenge lies in being bold with our 'ask' values. Boldness is not just about seeking larger amounts; it's about asking for the right amount that reflects the true value of the cause. Donors are often willing to give more when they understand the impact of their contributions. Communicating effectively and passionately about the mission can inspire donors to step up and contribute at levels that truly make a difference.
Customisation is Key:
One size does not fit all when it comes to fundraising asks. Embrace customisation by tailoring your 'ask' values to your donors' individual preferences and capacities. Leverage data insights to understand donor behaviours, preferences, and giving capacity. This approach fosters a more personalised connection and demonstrates that your organisation values and respects each donor's unique commitment to the cause.
Create a baseline:
Consider implementing a strategic approach to donations for free events or incorporating a minimum donation value for dedications. By making donations a requirement for free events or establishing a baseline for dedications, you generate necessary funds and instil a sense of value in giving. This approach ensures that even seemingly non-revenue-generating activities contribute to the financial health of your organisation.
In the ever-evolving fundraising landscape, embracing boldness in asking for donations and redefining minimum 'ask' values is critical in turning around the trend of declining income yields. The time to be bold is now by customising your approach, creating a seamless user experience, and fostering a culture of boldness within your organisation.