The rules of fundraising have changed
- Everyone is now a channel -
Inspire supporters to spread your story
Leverage their social capital
And raise more money for your mission
In the UK we have had a wake up call to our fundraising model. Response driven fundraising no longer works effectively. Costs are rising, response rates are falling and retention is flat lining. Tighter regulation is fast approaching. The model is broken. These are symptoms.
THE ROOT CAUSE
There has been a paradigm shift in how we communicate. Word of mouth is now very very efficient. In effect we are all now channels. Many to many communication is now possible. We value social proof from our trusted network of contacts.
But in a world with abundance of information where everyone is a channel attention is scare. So broadcast marketing is no longer effective. Shouting louder no longer works. And if we have a bad experience we will share it.
If you recognise and understand the paradigm shift you can see the way forward. If everyone is now a channel then the opportunity is 'how can we inspire people to spread our story ?' rather than target them for more money.
By adopting this approach you will leverage the 'social capital' supporters have with their network of contacts – friends, family and colleagues. And in this connected world you do not know who people know.
It means taking a holistic approach to fundraising that looks at the total return on investment, having a clear narrative based on your mission to help spread a consistent story, and providing experiences that people will talk about. Above all it means adopting the different mindset that builds your audience and retains it rather than interrupting and transactional.
Richard Turner Fundraising
If you are interested in understanding more about this approach to fundraising and how I can help you please contact me.
Ask me a question. Invite me for a chat, either over a coffee for real, or over skype.
How I can help you
I've been a fundraiser for 25 years. For the last five years I successfully applied the approach to fundraising outlined above as Chief Fundraiser for the charity SolarAid. Over this time I have documented and shared my learning through a regular blog and giving talks.
If you want help to understand the paradigm shift, what this means for fundraising, and how to embed a different mindset then I would love to share with you my learning and insights. I would help you apply them to your current fundraising to maximise the benefits that people are one of your best channels and leverage the social capital of your supporters.