How to stimulate larger gifts from your best donors
Creating and implementing a special giving program can help you generate significantly more income for your organization. Commonly referred to as 'mid level’ giving programs, they’re designed to generate larger-than-average or mid level gifts of $100-999.
Unlike most new initiatives, a professionally conceived and implemented mid-level gift program should produce a handsome return right from the start.
Here are the seven steps to creating a successful mid-level gift program:
Step 1: Identify your most loyal donors. Instead of only looking for large-gift donors, we find the best prospects for mid-level giving are those who have exhibited the greatest degree of loyalty to your organization. Most often, this translates to those who’ve given the greatest number of gifts. In context of the familiar RFM triad, we find frequency (F) trumps Size of Gifts (M) and recency (R) for optimal targeting of good mid-level giving prospects.
Step 2: Establish benefits for joining the program. Benefits can be tangible such as a certificate, decal, lapel pin or medallion; or intangible, such as recognition in your annual report or other publications, a special page on your web site, or invitations to special events; or best of all a combination of both. Don’t overlook the opportunity to include a benefit or two upfront in your solicitation. A personalized certificate with back-end benefits tied to specific levels of commitment is sure to encourage higher response and larger gifts.
Step 3: Set the giving levels for your program. Mid-level gift societies can bridge the gap between the regular renewal program and major giving, recognizing giving levels from a range of $100 - $999. Your organization may have unique needs depending upon your donor base and average giving levels.
Here is an example of annual giving levels within a prototypical mid-level club:
Level 1: $100 - $249 Level 2: $250 - $499 Level 3: $500 - $999
Give each level a unique name. You want to build a sense of privilege for donors who participate.
Step 4: Create a prestigious name and brand for your program. Commonly positioned as a ‘society’ or ‘guild’, the program’s name should be unique and meaningful to your donors. It should tie into your organization's heritage or mission, and readily connote honored status for this generous group of supporters.
Step 5: Develop a series of solicitations. It takes more than one mailing to get the full benefit of a mid level gift program. Create a multiple-part solicitation campaign, with an original solicitation and one or more follow-up appeals. Mail follow-ups three to four weeks after the preceding mailing(s).
In the original solicitation package highlight the benefits, rewards and recognition donors receive upon joining. Emphasize how important the donor's support is to your organization and illustrate how his/her generous gift helps people in need. Acknowledge and thank donors for their loyalty.
Step 6: Acknowledge your mid-level donors specially. Thank donors promptly with a special gift acknowledgement letter, and consider making personal phone calls as well, if feasible. Either way, the message is welcoming donors to your program and emphasizing the real impact their gift will make to your mission. In your acknowledgement letters, there’s an opportunity to include a reminder about the next level of commitment in the mid level program.
Step 7: Extend the Mid Level Program throughout your entire fund raising program.
You will also need to establish business rules for ‘resting’ these donors and omitting them from other campaigns.
· Create a mid-level giving society "brochure" to insert in select campaigns throughout the year.
· Include mid-level giving society inserts in acknowledgments to selected renewing donors.
· Create a mid-level giving society web page. Include a link on all mid-level giving society renewal efforts as well as your domain’s home page. The web page should introduce the program, show the giving levels, and provide an e-mail address of a program coordinator who’s empowered to make in address, status changes and answer questions. This will also provide the opportunity to capture new email addresses for online communications and promotions.
By following these seven steps, you can develop long-term, fruitful relationships with your most generous and reliable donors, and generate more net income to fund your mission.
Better yet, let us build a turn-key program and new income stream for you. Start by contacting us by e-mail or phone at 224-223-6357.