In CASE Currents, a recent article, "Cinderella Doesn't Live Here: strategic planning and long-range vision -- not fairy godmothers -- are the keys to turn your annual fund into a pipeline for major gifts" talks about the importance of taking the long view of your annual fund program. Lori Yersh of McGill University notes: "The annual fund is the most obvious place to go to develop major gifts, but it is also the most overlooked."
Rather than looking at renewal and retention rates of just the first year of a donor's life with your organzation, the article suggests you look at the 5-year patterns of renewal, retention, and life-time impact of new donors. Article author Brian Daugherty of San Diego State University tells this story: "A trio of griends who met through SDSU activities and athletics, has recently made a commitment of $900,000 or more. They each began giving to the university with gifts of less than $200. it took from five to 10 years before they made their first $1,000 gift and between 25 and 35 years until their most recent commitment."
The reminder for all of us is to be patient, get people started giving now with the objective of a life-time relationship of increased engagement and giving. If you're a major gifts fundraiser, your best friend is the annual gifts fundraiser. They are your future. Make sure to invest in these programs. Also work hard to boost your first-time donor renewal rate from a traditional 35% to 50% rate to 70% or 80%. Really roll out that red carpet to welcome new donors; to discover who they are; and how to make them feel welcome in your donor community.
TomWilsonMajorGiftsGuru@gmail.com
Permanent Link: How Annual Fundraising Can Help Your Major Gifts Fundraising Program
http://majorgiftsguru.com/2008/09/how-annual-fundraising-can-help-your.html
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