When you run a charity or not-for-profit company, it is important to keep those donations flooding in. But it is usually much easier to receive another gift from a current donor rather than attempting to find a new prospect. The same concept applies to a business environment when it comes to existing and new clients.
There are several main reasons why your donors would upgrade their current donation. Firstly, they believe in your efforts and want to see you do well. Secondly, they feel like you are currently using your money wisely and you will continue to do so. And finally, they will do it simply because they are asked to – they are very unlikely to do this by themselves. So, here are the five steps involved in getting current donors to increase their pledge.
Step One: Acknowledge Them
The first thing that you need to do is recognise your donor for their most recent gift and tell them that it is really making all the difference. If you feel like you need to outsource these fundraising services, click here. Thank them for supporting and investing in your organisation and how much you appreciate them for doing this.
Step Two: Give Specifics About Where Their Money is Going
The next step is to explain in detail about all the wonderful things that you have been able to do thanks to the money that is being donated. Talk about the people who you have helped and the specific projects that you have been able to undertake thanks to them. You can then lead this comfortably onto the next stage.
Step Three: Explain Why You Need More Money
Now, you need to make a clear case as to why you need more money to keep completing all your good work. Perhaps new challenges have presented themselves or the size of your vision has recently increased. Essentially, this is when you need to make a strong case as this is when your donors will be weighing up in their minds whether or not they should support you further.
Step Four: Ask for the Upgrade
When you are asking, you should ask for a specific sum of money which is reasonable based on what they are giving already. Don’t use generalised statements like ‘as much as you could give’. You need to be leading this part of the discussions, and it is up to the donor whether to say yes or no.
Step Five: Stay Quiet
Once you have made your pitch and asked for a specific sum of money, the time has come to stay quiet and give your donor time to think. Let them talk first and you are much more likely to get the answer that you are looking for.
As we mentioned at the start, upgrading your current donors is the best way that you are going to increase the overall revenue of your organisation. If you don’t feel like you are working hard enough to do this currently, now is the time to enhance your efforts.