Worried about shrinking foundation endowments? That’s going to happen during a recession, but that doesn’t mean you should pull back.
When the economic outlook is questionable, you need to think carefully about the value of your fundraising events.
You may feel the need to cut costs, but don’t be caught up into thinking that donor acquisition is the place to cut back.
It may be tempting, but do not pull out of the mail when the economy goes south. Make some strategic changes to communicate well with your donors and manage your ROI.
A well-thought-out strategy is always a key ingredient for success. That doesn’t change when times are bad.
The fundamentals of fundraising don’t change whether times are good or times are bad. But applying those fundamentals well takes some careful thinking.
Existing donors, both lapsed donors active, are already engaged in a conversation with you, one that they’re happy to participate in. You can leverage this existing relationship to boost their lifetime value and increase the percentage of donors giving at any moment. And handwritten thank you notes are a powerful ally in this effort.
Stay tuned for a new series from American Philanthropic and Philanthropy Daily—”Fundraising When Times Are Bad”—to help you navigate today’s recession.
Good fundraising software is important for a fundraising operation. Here are a few things to think about as you select and use fundraising software at your organization.
With a clear mission/vision distinction, you can articulate why your work—and the donor’s support—is more urgently needed as a result of this external factor.