Week 7 of 100 Donors in 90 Days is none other than David A. Mersky. I always enjoy David’s webinars and recorded conversations because, in addition to his melodic, deep voice, I always learn something new. Here are a few of the gems that I heard during his conversation with Marc A. Pitman about renewing lapsed donors.
For a deeper understanding or to learn the full context, you can purchase the entire series (it’s only $199 for the online access, CDs, and a Binder filled with invaluable handouts that each fundraiser created to improve results). But, before you offer any of your organization’s hard-earned money, these highlights will definitely give you an idea as to how valuable the system can be. Some thoughts of mine were added below in italics.
- Create a hierarchy to determine which donors are most valuable and should be the recipient of the most time and energy. In order of importance they are:
- Amount of donation
- Cumulative giving
- Physical location
- Research has shown it costs four and a half to five times as much to attract a new, first-time donor as it does to revive or renew somebody who is already on your donor database. (I did know this, but I like the reminder.)
- We’re in control of conversations when we listen, not when we talk.
- Conversation is not simply waiting for your turn to speak. (A nice follow to how to control the conversation).
- Use the “Principle of Restricted Choice.”
- Think like a donor every single day. Do not think like the accountant, the CFO or the director of operations in your agency that’s always thinking of how we can make this easier and more economical for us. On the contrary, you want to make it easier and more economical for your donor.”
I’m sure you will know that this is just the tip of the iceberg of the forty-minute conversation. But I couldn’t write it down word for word. For that, you’ll have to buy your own copy.