Want to increase your organization’s revenue? Start two years ago. That’s how long it takes to realize the benefits of donor acquisition.
If you have a time machine and could make a visit to 2015, you’re in luck. I suspect, though, that you don’t have one. So, while you can’t go back in time, you can start acquiring more of the right kind of donors today. The kind of donors who will have a lifetime of impact.
Maybe your ministry likes things just the way they are—or maybe a little bit less. If that’s the case this article isn’t for you. I could quote all types of statistics that show the trends across the industry (they’re not good), but that won’t really help add donors to your ministry.
If you really want to grow, you may need to start thinking differently about donor acquisition.
Donor acquisition is an investment, not a cost
Think about donor acquisition much like you think about your retirement. Just as it’s unwise to rely solely on Social Security for your retirement, it’s unwise to solely rely on your current donors for growth. You need to invest in the future.
So how much do you need to invest?
Knowing just how much to invest is as simple as knowing where you are and where you need to be in order to reach your growth goals.
You’ll also need to know how long it will take to recover your investment in acquisition. The longer it takes for you to break even, the more money you’ll need to invest. You’ll also know, if you break out the data by channel acquired, which channels you should be investing more in.
Don’t ever stop
Donor acquisition isn’t an event or even a series of events. It’s an ongoing activity. It’s like breathing. Without it it’s only a matter of time before you (or your ministry) don’t exist anymore. You’re always going to want to analyze your results in order to refine your efforts. As you see your donor file begin to grow, you’ll wish you started two years ago!
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