New Jersey-based Innovairre quashes three common myths from the world of fundraising.
Innovairre is a global leader in the charity financing field. From its headquarters in Camden County, New Jersey, the company and its team have come together to debunk a number of common myths from the world of fundraising.
“So much of what continues to be wrongly believed about fundraising has its roots in misconceptions that certain aspects of marketing are counterintuitive,” reveals a member of the Innovairre team, speaking from the company’s offices in Cherry Hill, New Jersey.
When it comes to marketing, smart nonprofits test, they say, and look at the resulting data to guide their decisions. “Others routinely make the mistake of following their instincts,” adds the firm’s representative, “and make incorrect assumptions about what fundraising techniques will or won’t work.”
With that, the charity fundraising leader and its team is on hand to quash a trio of the most common myths in the sector. From not asking donors for a second contribution right away to pulling them out of marketing programs, each has gained traction, they report, despite being wholly incorrect.
Ask New Donors for a Second Contribution Right Away
Reported to be among the most common myths in fundraising is the belief that new donors shouldn’t be asked for follow-up donations too soon. “On the contrary, you want to communicate with all new donors right away,” reveal the experts at Innovairre. “You want to act on your follow-up gift plan promptly,” they go on, “as there’s a relatively short window to secure a second, early gift.”
The same line of thought is echoed in research carried out by fundraising data specialists, Analytical Ones. In fact, Analytical Ones found that those who make a second donation within three months have a lifetime value of almost double those who make a second gift a year or more later.
The research in question found that donors are the most likely to give again in the initial 90-day period after their first contribution. “After that, the likelihood of them ever giving again falls dramatically,” adds a member of the Innovairre team.
Don’t Rest Donors After They’ve Contributed, say Innovairre
The Innovairre team’s second myth concerns resting donors after they make a contribution. “Again, the truth is on the contrary,” they suggest.
At odds with the idea that it’s likely to anger or upset people by asking them for another donation too soon, recent contributors typically want to be engaged, the firm states. Quite the opposite from reacting negatively, they invariably want to feel more connected to an organization’s mission after they’ve donated, it’s reported.
Donors want to give, believe in a mission, and benefit themselves—often by creating a ‘warm glow’ effect, something identified by the National Institutes of Health—when they contribute to a worthy cause, according to the experts.
Removing Donors from Direct Marketing Programs
Innovairre’s third and final myth concerns pulling donors out of so-called direct marketing programs after they contribute. “Many fundraisers assume that you must quickly move a donor out of a direct marketing program once they make a more sizable gift,” says the brand.
They may wish to treat that donor in an entirely new way. Yet, it’s possible to quickly lose sight of the fact that it was very likely to be a direct marketing program that inspired them to donate in the first place, the company points out.
“Instead of removing donors from direct marketing programs, reach out to thank them,” explains a representative. Never let a donor get lost in the mix and receive no communication, they stress. “That’s the exact opposite of what you want,” they add, “so be sure to have procedures in place to make sure that never happens.”
According to Innovairre, direct marketing is a mix of art and science. The same mix contributes to many common fundraising myths, the company says, and even those with years of experience must remember to revisit the fundamentals in this area periodically if they’re to enjoy continued long-term success.