Weโre delighted to welcome Andrew Olsen to the Virtuous blog. As the Executive Vice President of Fundraising Solutions at DickersonBakker, Andrew is on a mission to help leaders increase mission impact by developing healthy cultures that accelerate revenue growth. Here, he discusses what you can do to make your year-end fundraising strategies a success.
THE ENDโฆ
Year-end, that is.
Weโre in the final stretch of 2024โand what a year it has been.
Throughout the year, Iโm sure you, like me, have felt like it might never end.
But now weโre on the cusp, and some are afraid of what our year-end fundraising numbers will look like.
With fewer than 40 days remaining in the calendar year, most charities are on pins and needles, working to secure 30% to 50% of their annual funding before midnight on December 31st.
Many fundraisers have already thrown in the towel, convinced that a turbulent economy in 2024 means revenue will be down. We donโt necessarily see it that way for several reasons.
First, the data doesnโt support this. While giving tends to increase during economic growth, it doesnโt necessarily decrease during economic decline. Similarly, historically, research has shown that fluctuations in the stock market also impact givingโwith upturns in the market resulting in increases in giving, while downturns donโt necessarily result in corresponding decreases in charitable giving.
Whether you think the economy will help or hurt fundraising between now and year-end, you still have an opportunity to create a positive impact for your organization and your cause before 2025.
Here are 15 tactics you can employ right now to make your 2024 year-end as successful as possible.
Focus on assets
Regardless of what has happened in the general economy in 2024, the stock market has been on fire all year. This means that people who have money in the market are likely sitting on significant gains. This is an ideal reason to get in front of your supporters and invite them to give a year-end gift of appreciated stock to support your organization and to benefit the donor by helping them offset potential capital gains.
Similarly, you can encourage donors to give from their Individual Retirement Account (IRA) if they are 70 and a half or older. Lastly, make a strong push for Donor Advised Fund giving in December. The more you ask and invite donors to give from their assets, the more likely you are to secure asset-based gifts from supporters.
Send a year-end โadditional giftโ ask to your monthly givers
While it might be tempting to assume that you shouldnโt ask monthly givers for additional gifts because theyโre already giving monthly, youโd be wrong. These are some of your most loyal and committed donors, and they want to help your organization succeed.
If you go to them with a special giving opportunity at year-end, acknowledge the importance of their ongoing partnership through their monthly commitment, and invite them to make an even more significant impact at year-end, youโll likely see a significant increase in their giving. In fact, some organizations see response rates of 10% to 15% from special appeals sent to monthly giving audiences.
Check-In With Major Donors
Ensure that you speak or meet with every portfolio-assigned major donor before year-end.
Even more important, present each of your major donors with a specific year-end major gift opportunity proposal that encourages them to make a significant year-end gift to your organization.
If theyโve just given a gift in the last 90 days, this is probably not appropriate. But even if they gave a gift in the first half of the year, you should go ahead and make a significant year-end ask as well.
Check Your Donor Records
Run a query for donors who gave you single gifts of $1,000+ in either of the last two years but who have not given yet this year. Call them and ask them to make a special year-end gift to your organization. Itโs important that you have a compelling case for support. (It can’t just be โto help us close the year strong.โ)
Audit your online donation page
Simplify it. Remove videos and links to other pages. Reduce the number of fields required to make a gift. Streamline the experience. And remove any unnecessary code from the page.
This will do two things. First, it will reduce your page load speed, keeping more people on the page when they hit it. Second, the streamlined design will improve user experience and likely drive higher conversion rates and revenue.
Check Who Gave This Year
Run a query for donors who have already given gifts of $1,000+ in the 2024 calendar year. Call to thank them for their generous support this year, and invite them to consider a special year-end giving opportunity to accomplish something meaningful and significant for those you serve.
Celebrate loyalty
Look for those givers who have supported you with one or more gifts in each of the last five-plus years. These are your most loyal supporters. Before year-end, send them a special message of appreciation and encouragement, reminding them of the significant impact theyโve made over the years on your cause and those you serve.
Donโt ask for anything. Just celebrate them.
Make Some Phone Calls
Call every donor you can between now and year-end to thank them for their generous support, share a transformational story of impact, and ask how you can better serve them in the coming year.
Look at Who Gave More
Pull a list of every giver who has increased their giving in the last one to two years and send them a special appeal inviting them to level up their giving once more in response to an inspirational giving opportunity at year-end.
Treat Your Staff
Do something special for your development operations, finance, and gift-processing teams. The next 30 days are likely to be the hardest month of their year. Help ease the burden by giving them grace and showing up for them as colleagues or leaders.
Celebrate every winโeven the small ones
Share a success story with your team every day or week. Remind your people why they do what they do, and why they keep showing up even when times are tough.
Say Thank you
Send a highly personalized thank you to your mid-level and major Donors. Celebrate their generosity, the longevity of their giving, and the total impact their support has made over the many years theyโve supported your work.
Send More Fundraising Emails
Most organizations donโt send enough fundraising emails in the final month of the year. Even those charities that are actively sending emails are probably sending fewer emails than is ideal.
The last 30 days of the year are noisy everywhere. We find that the more email you send, the more revenue you generate, and in most cases, this increase doesnโt negatively impact your opt-out rates or email reputation scores.
Incorporate Video and Texting
Use more video and SMS/MMS messaging to share critical and urgent needs before year-end and to thank and celebrate the impact your supporters are making. Use text messaging and custom video (not highly produced, expensive videoโweโre talking about shooting video right on your phone and sending it directly to supporters) to deepen relationships with your supporters, bring them closer to your work, and showcase the impact theyโre making by giving, volunteering, and advocating for your cause.
Look at Your LYBUNTs
Encourage your sideline supporters to step back onto the field before year-end. Every organization has a group of donors who gave last year but havenโt yet given this year (aka, โLYBUNTsโ). In some organizations, this group can number in the thousands, and their giving can reach millions of dollars. By focusing on a year-end effort to get these supporters to give just one gift in the current year, your organization could capture significant additional revenue (and set you up for even more growth in the future).
You donโt have to do everything on this list. In fact, you probably wonโt have the time to do it all. But if you can act on even a few of these tactics between now and year-end I guarantee you that youโll raise more money for your cause, activate more donors going into the coming year, and enter 2025 in a much stronger position.
Next Steps
Want more actionable tips you can apply right away to impact year-end giving?
Register for the upcoming webinar with Andrew Olsen and Scott Holthaus: How to Save Your Year-End Fundraising Strategy: Proven Tips to Maximize Giving in the Last 21 Days of 2024.
Youโll learn proven fundraising techniques to make every day until December 31 count!
