Presenters: Stacy Palmer, Jeffrey Wilklow
A lot of people were in this session, a lot!
1-Mega donors: 50 ppl gave over 10.2 billion $ last year – alot more on the list were young this year, under 30. More from tech industry than finance. The young mega donors tend to give more generously, not be institution focused, and are often rule breakers.
Questions fundraisers should ask, Are we doing enough to take care of our top donors? Are you giving them a reason to think about you?
One way to improve outcomes for the above (and others) is to expose and engage top donors more in mission.
2-Legacy donors are moving their money into foundations, or giving directly to organizations. Childless legacy donors are 5x more likely to put legacy dollars into a foundation or by giving directly. This is a long term conversation that will require relationship building.
3-Social donors tend to be small crowdfunders, they use social media, tend to be younger. They are mobile responsive. A lot of this type are viewing websites via their phones, want no more than 2 – 3 clicks to a donation, and want few info fields to fill in when giving their info. Think about changing the word ‘submit’ to an action word when using on donation page. Gen. Z’s, teens now, get them involved creativity. The are the ones to watch! They like shorter messages, concrete. Videos work better than photos and, of course, they like visuals considered ‘cute’.
4-Big Data: particularly wealth screening. We need to get better about how we use data. How to use data to personalize messages to donors. We are already seeing this more in places were they are measuring performance i.e universities.
5-Professional Development Professionals: Only 2% of what we are doing goes toward the Gross Domestic Product. What do u need to do your job? We need to do a better job of communicating why this important and invest in this area. Mentioned Dan Pallotta messaging. Short message, be good to your staff to keep and recruit the best talent (and even grow). We are the overhead! Giving more flexibility as well for people to work in their best way. Training very important. Also, seek out more diversity.
6-Economic Cycles: We really don’t know what we got until it’s gone. Fortunately we are no longer in a recession. People are feeling good and want to give. Don’t miss the opportunity. People following the research are doing twice as well. Need more nonprofits to work with researchers to test. Important to spread this message in the board room. The old ways are changing really fast.
One last thought, ask for recurring donors. They are more likely to double their donations.