We talk a lot around here about how the three core functions of Asking, Thanking, and Reporting are necessary for fundraising success.
But there’s an exception.
There are some organizations out there that can succeed without Thanking and Reporting.
Here’s what those organizations have in common:
- They’re working on a cause or with a beneficiary group that a LOT of people care about. Think “kids in poverty” or “pets with large cute eyes” or “diseases that touch everyone’s lives.”
- They’re skilled at Asking. They have great offers and great stories.
- They have donor acquisition down to a science.
Why is this true? If a lot of people care about what you’re working on, there are always more potential donors out there. And if you’re great at donor acquisition, you can replace all the donors you lose each year – and more. And if you’re skilled at Asking, you’ll raise a lot of money from your donors before they move on.
These organizations don’t need to Thank and Report because they don’t need to keep their donors.
These organizations don’t have to worry very much about keeping their donors because it’s so easy for them to get new donors.
We did a website project years ago for an organization that worked on a “brand name” disease.
Something like 40,000 people each month are diagnosed with this disease – which affects not only the patient but all of their loved ones.
Each month, many of the 40,000 – plus untold numbers of concerned family members – would go online to research their disease.
Many of them would end up at this organization’s website. Thousands would give a gift.
This organization was acquiring several thousand new donors every single month just by having a semi-capable website.
Meanwhile, the rest of their fundraising was atrophying. Their Thanking was rote and organization-centric. Their Reporting was nonexistent (though they did brag occasionally). Their donor retention rates were abysmal.
But they worked on a disease that a lot of people care about. And they were good at donor acquisition. Even though they were only adequate at Asking, they still raised increasing amounts of money each year as more and more people came online and made donations.
They “succeeded.” But they sure could have raised a lot more money (and done a lot more good) if they knew what you and I know.
What You Should Do
If your organization is one of the lucky few, who don’t need to Thank and Report while still raising more money each year, congratulations! You’ve won the fundraising lottery.
But if your cause is smaller, if your Asking could improve, if new donor acquisition is a struggle – then keeping your existing donors is paramount.
You have to get great at Thanking. Not simply acknowledging a donor’s gift, but making her feel like a meaningful part of your organization. And you have to get great at Reporting. Show your donor the outcomes of her gift, and give her the credit.
Do those things well, and you’ll keep more of your current donors, and raise more money every time you Ask them!