With high unemployment rates and a challenged economy, many nonprofits received a lower number of donationsthan they had hoped for in 2009. Some may be tempted to cut back on acquisition funding in order to save dollars in the short term; however this could result in a bigger loss over time than many organizations realize. Statistics show that about 20% of the number of donors acquired in a given year will continue to contribute to the organization for the next five years. This could result in huge losses in the long run.
In an article we recently read from www.nptimes.com, we found 8 tips for finding new donors. In summary they are:
- If you are under pressure to reduce acquisition costs consider trying to at least keep a level that will maintain the current number of active donors.
- Send donation request letters during months that have historically proven to be the most effective: January – May.
- If you have to reduce your acquisition budget, do so by eliminating the lowest performing lists from your campaigns.
- Send multiple requests to people who have donated more than once in the past.
- Ask your list broker if you can re-use names from better performing lists and make sure they have negotiated the best possible net name arrangements for you.
- Try to re-connect with long-lapsed donors.
- If you have corporate partnerships, ask them if they have consumer names that can be made available to you.
- Decrease the cost of your acquisition packages by reducing inserts and multi-colored printing.
To read the entire article, click here.