How to Identify Your Major Donors?
As discussed in previous posts, it may be more valuable to have a few major donors who are committed to your nonprofit for the long term than numerous small donors who give once and never come back. Here are some recommendations to help you to identify, reach, and retain major donors.
- Create a database.
To keep the process organized, it is always a good idea to develop a database with detailed and structured information about your potential donors.
- Do your research.
What information should you consider? Given that we are talking about major donors, income level is an important indicator. Occupation can be used as a proxy for this information.
Also, consider the individual’s past philanthropic activity. Has your potential donor supported other charities? If this so, what types of charity do they value the most? Evaluate all of the variables as a whole, as income level does not always correlate with the philanthropic activities when a donor is truly committed to a cause.
3. Update your database regularly.
Track any changes in information about your donors. Clean up your database, archiving inactive donors or individuals who responded that they are not interested in supporting your charity.
- Pay attention to your fundraising event’s attendees.
You already know the importance of fundraising events. Beyond the income brought in by the event itself, fundraisers provide an opportunity to attract new supporters to your charity. A common event type is a charitable auction.
How can you identify a potential major donor among all your attendees? Pay attention to how high their bids are and how engaged they are during the event. Follow up with promising candidates using a personalized approach. Let them know how much your organization appreciates their donation, and keep in touch with them.
- Gather and analyze statistics.
To get to know your potential major donors better, offer them a survey with the questions regarding their attitude to philanthropy. Ask them whether they would consider making a donation.
Use EvalX online survey for gathering statistics, and tell them that by simply submitting a survey they are already helping the charity. Your respondents are likely to follow through with this survey request, since making the world a better place is the best motivation!