Wednesday, April 16, 2014
BIG’s Blog: Decisions are FIRST Emotional
You mail out a prospect list to a tested control package that has as its core message a story that tugs the heartstrings.
A small percentage of the recipients react by digging out their checkbook – forget that it took them 15 minutes to find the checkbook they hardly use anymore – and mailing you a donation.
You mail these new donors in 90 days. A minimum of 60% do not ever donate again. What’s the problem?
Do you really have a relationship with any of these first-time donors? Instead of working to build the relationship, you send them another letter asking … again … for money?
The first time they reacted on emotion, but more and more, as indicated by the collapsing rates of donor retention, it should be obvious there is a different ethos operating in the population you are reaching out to.
Emotion is what makes people react the first time, but after that, you must engage them.
How do you engage when your entire fundraising methodology is built on transactions?
Let’s think about this for a second.
Call your brother (who you haven’t seen for a while) and ask him for a loan. He reacts because of the emotional ties between you and sends you the money. Of course you call him and thank him when the check arrives. But what do you do next? Do you keep him apprised of your situation that called for the loan in the first place? Do you let him know what the loan means to you and when he will see the return of his money? Or, do you call and ask for another loan?
Baby boomers and younger generations DO NOT give gifts to charities. That’s what their parents did. Boomers and younger generations make “investments.”
Investments demand accountability and transparency.
Accountability + Transparency = Trust
Trust precedes Engagement.
Engagement = Support
How do you engage with today’s boomer and younger generations with a transaction-centered fundraising methodology?
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