The Way We Acquire Donors Is Changing

Acquisition can be a thorn in the side of marketers. And as the cost of acquiring donors continues to rise due to paper shortages and increasing digital ad rates, the cost of acquiring attention has gone up, too. In this episode, we’re speaking with Soraya Alexander, President, Classy and COO, GoFundMe. Classy’s tech is well-known in the world of nonprofit fundraising, and its recent acquisition by crowdfunding platform GoFundMe will enable it to better connect communities with the causes they support. Soraya says knowing your donors is key to reaching them in meaningful ways. Taking an omni-channel approach is also essential — it’s not either this or that; rather, it’s how it all comes together. Instead of putting a certain channel like direct mail at the center of your outreach campaign, put the donor at the center. Another tactic Soraya recommends is to segment your donors by commonalities such as age and then talk to them differently. Nonprofits must be especially aware of generational giving. Millennials and Gen Z, for instance, are less trusting of institutions. They’re driven by activism and prefer to donate directly to those who need aid. Nonprofits can take advantage of this activism by giving donors an opportunity to engage through service first. By championing volunteerism, you can build a trusting relationship and show how their dollars are being used. This engenders giving and kicks off an ecosystem of involvement.