Canadians are generous, but sometimes they just don't have the money to give. Your organization can work around that by linking fundraising requests to those times when people are more able or more willing to contribute. Here's a look at four ways to time your efforts, as well as a rundown of how Canadians feel about not-for-profit organizations.
Balance Your Needs With Donors' Capacity |
The primary goal of your organization is to help your cause and the more money you raise, the more you can help.
The good news is that Canadians are generous donors and have a high opinion of not-for-profit organizations (see right-hand box). But you may still wonder how you can raise the bar and bring in even more money to finance your group's work.
|
What Canadians Think About Charities |
||||||||||||||||||||
|
Edmonton-based Muttart Foundation conducted a "Talking about Charities" survey and found that 77 per cent of Canadians have a lot or some trust in charities. The telephone survey also found that people think charities:
|
||||||||||||||||||||
| When it comes to the not-for-profit organizations that garner the most trust, hospitals ranked at the top with a score of 88 per cent. That was followed by organizations that focus on: | ||||||||||||||||||||
|
Perhaps it's time to review the timing of your fundraising efforts. To help bring in more money with less wasted effort, try these four strategies:
1. The Liquidity Strategy - When individuals donate stock, chances are they will do it in the final quarter of the year. So you want to make a pitch by October at the latest.
Other timely requests could be sent out when regular or prospective donors receive windfalls, such as:
- Getting an inheritance,
- Winning a lawsuit, or
- Selling a company.
2. The Seasonal Strategy - It's no wonder Canada's National Philanthropy Day is in November - since the best time of the year for raising money is from September through November. The December holiday season is often thought to be the high point of giving, but in fact by that time, many potential donors are running out of money, thinking about the upcoming credit card bills, and worrying about paying taxes.
However, in the pre-holiday months of September, October and November, those same people are starting to get into the gift-giving mood.
The next best time of the year is spring. April showers can bring a seasonal burst of generosity as Canadians get back into the giving.
In addition to paying attention to when you send solicitations, take into account seasonal variations in industry spending and giving patterns. For example, retailers are more flush after the year-end holiday spending spree, while farmers have more money after the autumn harvest.
3. The Life Events Strategy - Charitable contributions are often a way to mark a milestone in an individual's personal or financial life. If you spot a pattern of giving, time your donation bids to coincide. You can also effectively tie a request to the anniversary of a donor's last gift.
4. Your Organization's Success Strategy - Your group's name and its achievements are valuable assets that you can maximize. Time fundraising campaigns to your group's accomplishments - when donor confidence in your work is high. Let current and prospective donors know how you have successfully used contributions and then ask for a donation to help continue the work. The more good things you tell a prospect, the more likely you will get a gift. Among the achievements you can consider highlighting are:
- The end of a specific program. For example, let's say you just finished a campaign to build a new hospital wing, help send underprivileged individuals to college, start a meals-at-home service, or send a team of teenage hockey players to an international tournament.
- Breakthroughs in research and development financed by your organization.
- Awards your group has won.
The Final Analysis: Many people want to give to charity but there are times when they may not be able to donate and times when they may be unaware of your current accomplishments. Effective timing is a way to help increase the amount of money your organization raises.
