Wednesday, September 9, 2009

Having a Loyal Donor

We are bombarded by loyalty programs! Your credit card is not just a credit card any more, it is a card that offers points, cash back etc. If you stay at this hotel or fly on this airline you might qualify for something "free"! Shop at this grocery story, use their free membership card, you qualify for a discount i.e. "a savings" off your purchases. WOW!

So, how can nonprofits tap into to this idea of creating a loyal donor? The concept of having repeat business, and in the nonprofit's case, having a repeat giver is understandability worthy. However, the approach a nonprofit takes should differ greatly from the for profit arena.

First, as a nonprofit you need to stop looking at your donor with only dollar signs in your eyes! Nonprofits can't fake being genuine and if you really only see the donor as Mr. or Mrs. Money Bags then you need to stop reading this now.

Donor loyalty requires a great deal of effort on your part as a nonprofit organization. You have to EARN the donor's RESPECT first. Getting respect and admiration is not something that happens overnight.

Donors in general give to nonprofits because they were either touched in some way by that organization or they are impressed with the work done by the organization.

In order to create a loyal donor you need to learn more about what interests the donor actually has! What is in his or her heart? What motivation do you see? Where are they in their professional career? Who are their social contacts? What type of lifestyle does your donor live?

These are just a few of the questions, you as a nonprofit, need to know the answer to in order to build the relationships you need to build to create a loyal donor.

It has been said many times but these truths are worth repeating: People give to people, you need to friend raise first long before you fund raise and lastly it's all about building relationships!

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DISCLAIMER: This information is not intended to provide legal or accounting advice, or to address specific situations. Please consult with your legal or tax advisor to supplement and verify what you learn here.