Are you displaying the suitable donation ask amounts? Believe it or not, personalizing how much you’re asking donors based on who they are can help bump up that conversion rate. As a busy fundraiser, this might seem like a daunting task. But it doesn’t have to be!
At this year’s Responsive Nonprofit Summit, we gathered our industry’s reputable thought leaders to share innovative strategies for becoming more responsive fundraisers. In his session, Nick Prenger, Founder and CEO of Prenger Solutions Group, walked us through determining the ideal ask amounts for each donor.
Here are the key points from the webinar that you need to know:
The Power of Presentation
The way the ask amount is presented in appeals can play a significant role in fundraising. It’s critical to acknowledge that different tactics work for different groups of people. While open-ended pledge cards work better for major donors, cards with specific donation ask amounts are more effective for everyone else.
Prenger Solutions Group’s research revealed that personalized ask amounts increase donations more than standard amounts. Organizations can optimize their fundraising efforts by customizing ask amounts based on the donor’s giving history and other data points.
Personalized Ask Amounts
Manually setting up personalized ask amounts can take a lot of time, energy, and resources. However, you can streamline this process with tools like AskGenius. This tool analyzes relevant data, such as the donor’s last gift, ZIP code, and giving history, to determine the most effective ask amount.
While AI tools for nonprofits can optimize this process, meaningful asks are also needed. Instead of relying solely on algorithmic-driven asks, organizations should make specific requests that resonate with donors. For example, they can invite donors to feed a child for $20 a week or join a giving society with a $100 gift. By adopting this approach, organizations can create a compelling case for support and drive higher donations.
Leverage Donation Ask Amounts Across Multiple Channels
While digital channels play a significant role in fundraising, there is a need for multichannel engagement. People have their own communication preferences, and some still enjoy their offline channels. Direct mail continues to be a mainstay, with 80% of people wanting to receive hard-copy letters. Organizations can reach a wider audience by incorporating online and offline channels, lift engagement, and boost generosity.
Timely follow-up is critical in maximizing the donor lifetime value. Nick recommends following up with donors within a month of their first gift and again within the first three months. This personal touch helps nurture the relationship and encourages continued giving.
Following up with donors should also extend to recurring donors who should be continually thanked for their ongoing support. These efforts are crucial for encouraging donors to upgrade their recurring gift amount.
Be Strategic With Donation Ask Amounts
Think strategically about presenting information, crafting meaningful asks, and leveraging technology in your multichannel communication efforts. By applying these key points from Nick’s session, organizations can enhance their fundraising efforts and achieve their goals.
Remember, fundraising is an evolving field, and staying informed about the latest trends and strategies is essential. Keep learning, experimenting, and refining your approach to maximize your organization’s impact.
If you’d like to explore more sessions from The Responsive Nonprofit Summit, you can watch the full replay here.
