Our economy is in bad shape and will only get worse. So what can we fundraisers do to minimize the impact of this difficult period on our organizations, and at the same time maximize our income? For starters, let’s agree that panicking and crawling into a hole is not a reasonable option. Nor is pretending that economic troubles will create multiple opportunities for venturesome fundraisers, who need only invest more in raising money. Instead, I believe, a cautious middle course is the only rational way to respond to the crisis. And that middle course boils down to nine concrete steps: Reassess the Whole Ball of Wax: Fundraising, Marketing, and Communications. Strengthen Your Case for Giving. Stick with What Works. Cut Costs with a Scalpel, Not an Ax. Fish Where the Big Fish … Continue Reading
Recessionary Fundraising – Some Practical Steps
This is part 3 of a series on the impact of the worldwide recession on fundraising. Written by Mal Warwick and Dan Doyle, you can find both analysis and suggestions from these seasoned professionals. Nine practical steps you can take now 1) Don’t panic. You may even find opportunities opening up in these difficult times. Other fundraisers (and, more often, their bosses) are panicking. They’re eliminating donor acquisition, canceling fundraising projects right and left, and cutting mailing quantities. If you make decisions carefully and stick to business, you’ll do better both in the short run and in the long. 2) Strengthen your case for giving. Your donors don’t want to hear how the economic crisis is affecting your organization. What they want to know is how economic troubles are … Continue Reading
Three Possible Fundraising Strategies
This is part 2 of a series on the impact of the worldwide recession on fundraising. Written by Mal Warwick and Dan Doyle, you can find both analysis and suggestions from these seasoned professionals. The introductory post was Fundraising in Tough Times. Here's part 2, Three Possible Fundraising Strategies: 1. The Defensive Approach Cost-cutting is paramount. Cancel donor acquisition activities. Reduce the frequency of donor appeals while cutting back on mailing and telemarketing quantities. Eliminate thank-you letters, or at least replace those personalized letters with post cards. Bring gift processing and donor file maintenance in-house. Cancel all marginally profitable special events. 2. The Selective Approach Maximize net revenue in the short term and maintain the long-term value … Continue Reading
Fundraising in Tough Times
by Mal Warwick Practically everybody in the nonprofit sector is talking about the impact of the fast-spreading worldwide recession on fundraising. There has been a flood of articles, workshops, lectures, blogs, and other commentaries on the topic in recent months. Most of it, in my humble opinion, is little more than opinion-mongering. To weigh in with a logical analysis and some practical suggestions, my colleague Dan Doyle, CEO of Mal Warwick Associates, and I have written a new paper called “Fundraising in Tough Times”. This analysis takes an unorthodox approach to the topic and includes some advice that many people in the direct marketing field will probably think is heretical. If you want a fresh perspective, read on. We’re not just going to drown you in statistics or regurgitate the … Continue Reading
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