Many charities depend on fundraising for operational revenue. But, how many could be making more money if they invested in branding?
“Branding?” many ask. “We have a logo. What else is there?”
OMG… so much more! A charity’s brand is way more than a logo, colors, font styles, and its look. It represents every single touchpoint in the organization.
What does that really mean?
If you work or volunteer for a charitable organization, you may not know that the median donor retention rate in 2013 was only 43%. That means only 43% of donors who made a gift in 2012 did so again in 2013.
According to an article in The Chronicle of Philanthropy, based on The 2014 Fundraising Effectiveness Project report, “For every $100 in new donations the 3,576 groups in the survey received in 2013, they lost an average $92 from supporters who failed to give again and others who contributed less than they had previously.”
And, even though the retention rate represents a slight increase over the previous year, it is still a big red flag for charities. It reinforces my saying:
No Marketing. No money. No mission.
OK, fundraisers and nonprofit folk… how far would you go to get your donors to give more? Would you consider using modern marketing techniques that many retailers use?
What if you had the option of using Aroma, Touch and Words to stimulate giving? Curious?
According to a recent article in The Nonprofit Times, Russell James, III, Ph.D., a professor of personal financial planning at Texas Tech University in Lubbock, Texas, tested the effects of aroma, touch, and specific words on charitable giving. His findings are surely fascinating. Continue reading