Why Is End Of Year So Important For Nonprofits?
The obvious reason is that people are generally in a giving mood this time of year. And while it’s important to take note of this generosity, there might be a bigger opportunity for your nonprofit to take advantage of. The post Why is end of year so important for nonprofits? appeared first on Keela.
The holiday season is an important time for nonprofits.
The obvious reason is that people are generally in a giving mood this time of year.And while it’s important to take note of this generosity, there might be a bigger opportunity for your nonprofit to take advantage of.
Depending on how much you know about your contacts, you might be able to target specific individuals or families for a big gift, just because the year is winding down. Year end giving has a ton of potential, especially if your database is big!
Understanding your contacts is an important part of this ask. When you first develop a relationship with a contact, try to extract as much information as you can — including how they make decisions about donations. Everyone is different and makes these important decisions differently. Some important questions to ask are:
• Do you make giving decisions on your own?
• How often to you consult your family when it comes to donations?
• Do you just give when you feel you have the money, or do you budget how much money you will give?
More and more, families are taking their values of financial sustainability and responsibility to their charitable efforts. So, just as they would have budgets for groceries or entertainment, they would also have a line for donations. It’s important to find out more about that budget line — and when they contribute to it. This will give you a better idea of whether or not they have some space to give.
What can I do with year end giving using this information?
You have a few options. We will walk you through a couple useful examples:
Communicate directly to this segment.
1. Create a list of all those contacts who have space to give at the end of the year.
2. Develop a special year-end appeal that speaks specifically to the idea of getting donations in before those budgets reset
3. Send out these messages and personalize it as much as possible
The valuable point here is a basic principle of communication: generic messages get ignored. When more you can cater a message to an audience, the more likely it will get traction. Otherwise, you run the risk of creating white noise.
1. Pull out some of your best performing content, or create something brand now — completely focused on the impact that you are making for your cause.
2. Use the same list that you create, and send a special offer of this content with a specific call to action of donating before the end of the year
The idea is that these contacts are already warm enough for an ask, and in the mood to give. Providing something valuable for them at this point is just the cherry on top and helps to build some goodwill for you and your cause.
Expiring Offer for Recognition
1. Start planning a year-end report
2. Include a section that recognizes donors for that year
3. Send out a message to that same list. Focus on the fact that you want the most up-to-date information to be reported.
Here, you will be appealing to an individual or family’s desire to be recognized for their giving. This is a great donor stewardship strategy, as well as a fundraising tactic.
Whatever method you choose, just be sure to take advantage of this year end giving period. It’s not only a popular day for Santa Claus. It’s also a great opportunity to use those deep relationships to leverage a big, last-minute gift!