Dave Kirby “Fundraising During Inflation”
The past three years have been full of fundraising challenges. You already know that. But rising prices and falling donor confidence might present us with the most significant threat to our fundraising yet.
People are tightening their belts. With the prices of food, gas, and other budget items, everyone wants to eliminate unnecessary expenses.
Some of our client stations are telling me that the number of cancellations has been on the rise recently. Maybe you have experienced that as well. So what do we do about it? If you don’t get anything else out of this article, please remember this sentence:
The most important fundraising action you can take is to keep the donors you already have.
With fewer potential donors, keeping our current donors becomes even more critical than ever. As the “belt-tightening” takes place, how do we position ourselves to survive the cuts?
Here are my three recommendations:
- Double down on the mission – Tell more stories of how God is working through the station. And remember, it’s not just about the story, but how the story makes the donor feel. All too often I hear stations tell great stories, then fail to connect the dots between the donor and that story.
- Double down on the communication – A study by Indiana University found that the number one indicator of a donor’s continued support is effective and consistent communication by the non-profit. I can only imagine how my marriage would be affected if I quit talking to my wife. It’s the same with your donor relationships. Talk to them and thank them…often.
- Double down on the ministry – Your donors are more than dollar signs. They are people. They have needs. They have fears. This world has created more anxiety and fear than at any time in the recent past. Minister to your donors. Reach out and pray with them. Send them encouraging messages, articles, or videos.
Remember, we are not money collectors. We are people collectors. Win their hearts and their money will follow. Even during inflation.
Vidare Creative wants to help. We just released our “Fundraising 365 Toolkit.” It’s a monthly plan for communicating with and encouraging your donors, including email copy, spot copy, a donor welcome series, and more. Plus, when you buy the toolkit, you’ll be invited to 4 group check-ins over the next year to help with implementation.
Get more information or get the toolkit at VidareCreative.com
Dave Kirby has more than 25 years raising money for Christian radio, with hundreds of fundraisers under his belt and more than $100 million raised. He now serves as a partner and Chief Creative Officer for Vidare Creative.