What's the Problem?
Larry C Johnson
Marquis Who's Who World Humanitarian showing nonprofit leaders how to achieve financial security through sustainable philanthropic revenue.
Be sure before you act.?
To be successful in fundraising you must identify what’s holding you back.
But you've got to solve the REAL problem.
More and more we’re hearing that there aren’t enough donors.? People aren’t giving as they used to.
Balderdash!
So—what is the obstacle??
Weak investor engagement resulting in lackluster renewal rates.
Principle 7 of The Eight Principles is Renew & Refresh? .? To have a sustainable philanthropic revenue stream that also scales upward, you must renew your current donors at the highest possible rate.
To get traction and move upwards, you’ve gotta be being doing a helluva lot higher than the typical first-year rate of 40-60%.
Despite all the focus on acquiring new investors, it’s much, much, much less expensive to spend your precious resources on keeping your current investors than to acquire new ones.
What’s more, those renewing investors renew at a higher level than when they first entered your fold.
On average, it’s a gift of 2X or more for a cost REDUCTION of 5X.?
Do the math.
I think that’s called a “win-win”.?
Don’t fall for the social media trap in thinking that followers somehow correlate with investors.?
They don’t.
I’ll take a handful of truly dedicated investors over a crowd of passing acquaintances any day.
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Larry is the founder of The Eight Principles and the recipient of Marquis Who’s Who World Humanitarian Award. ?He works with nonprofit leaders helping them achieve financial security for their organizations.
Have a question or a story to share?? Give him a call .