One reason behind this transformation is the rise of Millennials and Generation Z as donors—who not only are generously contributing but also are driving a shift towards modern payment methods like contactless payments.

The generosity of Millennials and Gen Z: A shaping force

Millennials and Gen Z are not just the future of charitable giving; they are actively shaping it today. Together, they wield an impressive $350 billion in buying power—yes, you read that correctly! And, these cohorts are tech-savvy, deeply committed to making a difference with social causes, and hold a significant amount of generational wealth that they are eager to give back. 84% of Millennials give to charity, donating an annual average of $481 across more than 3 organizations, while 76% of Gen Zers give online. As these cohorts mobilize to support causes they believe in, they’re becoming highly-engaged advocates, sharing information on social media, and crowdfunding donations.

Digital wallets: The preferred choice for next-gen donors

Millennial and Gen Z donors today are looking for a giving experience that aligns with their online shopping habits. That means they expect to have access to modern payment methods and digital wallet options like PayPal, Venmo, Apple Pay, and GooglePay. Making these digital payment options available has been shown to reduce donor checkout friction, build trust, and increase unplanned gifts by 32% and repeat donations by 79%.

That’s especially important when considering appeals to next-gen donors. As of 2023, approximately two-thirds of Millennials and Gen Z individuals have embraced digital wallets. And 78% of Gen Zers would reconsider patronizing a business that doesn’t accept digital wallet payments. But there’s no need to be concerned about leaving potential donors behind as Gen Xers are also on board, with more than half reporting that they use digital wallets more than traditional payment methods.

Always be in a position to say “Yes” to potential gifts

One of the significant advantages of embracing modern payment methods like digital wallets is that you’re more likely to receive donations. PayPal users are almost four times more likely to donate when PayPal is accepted, and donation conversions increase by over 32% when digital payment options are available. Moreover, repeat donations can surge by 76% when using PayPal.

Venmo, with more than 80 million users, offers a familiar and trusted platform for next-gen donors, who donate at more than twice the rate of non-Venmo users.

When donors find it effortless to contribute, they’re more likely to make a gift. By providing a seamless donor experience with multiple payment options, you’re more likely to see an increase in the generosity of your supporters.

Engaging next-gen donors at events using contactless payments

Fundraising events play a key role in nonprofit fundraising efforts. A significant number of attendees are often Millennials and Gen Z supporters. To cater to their tech-savvy preferences, consider integrating contactless payment methods like Bloomerang Tap to Pay. Your donors can easily contribute using Apple Pay or Google Pay with a simple tap of their smartphones. By offering a seamless way for next-gen donors to give while they’re inspired by your mission, you can boost donations.

Take advantage of next-gen payment options with Bloomerang

Digital wallets and Tap to Pay are now an integral part of Bloomerang Payments, the payment processor built exclusively for nonprofits. Deliver a better giving experience for your donors, with lower fees, better support, and no need to use a third-party provider. Bloomerang Digital Wallet options not only enhance the giving experience for donors but also make it easy for your organization to address next-gen giving preferences. Bloomerang Digital Wallet offers the ability for nonprofits to:

• Accept expanded payment options. Donors using Bloomerang fundraising tools, like donation forms, donation pages, events, and crowdfunding pages, will now see PayPal, Venmo, ApplePay, GooglePay, and Bloomerang Tap to Pay as convenient payment choices.
• Add offline donations. You can manually add offline donations processed through digital wallet platforms, including PayPal, Venmo, ApplePay, and GooglePay.
• Make the most of transparent reporting. Gain valuable insights into your fundraising efforts by tracking funds raised through digital wallet transactions.

Now’s the time to step into the future of giving

To stay relevant in today’s evolving fundraising landscape, it’s essential to adapt to the preferences of the donors of tomorrow. Consider embracing next-generation payment methods through Bloomerang Payments to:

• Effortlessly grow donations: Attract and engage new donors with mobile-friendly options.
• Save money for where it matters most: Streamline your operations and reduce administrative costs.
• Set up your organization for success: Stay ahead of the curve and build a strong donor base for the future.

Incorporating these modern payment methods isn’t just about convenience; it’s about securing your organization’s financial stability and ensuring you can continue to make a positive impact on the causes you’re passionate about. So, step into the future with Bloomerang Payments and watch your donations soar while you make giving a seamless and enjoyable experience for your donors. A bright future awaits.

The post Adopting Modern Payment Methods To Engage And Keep A New Generation Of Donors appeared first on Bloomerang.

Generosity is the heart of fundraising

Just because someone is wealthy doesn’t automatically mean they’re generous. But generosity is the key to unlocking the funds you need to propel your mission forward, and finding donors who have both wealth AND generosity is the secret to successful fundraising.

This article will show you how to identify the right donors to focus on, how to nurture them, and how savvy fundraisers can find them in their existing data.

Identifying the anatomy of generous donors

A generous donor embodies a trifecta of qualities: they’re ready, willing, and able to give.

READY signifies an active and engaged connection with your cause—an individual attending events, responding to communications, or even dedicating time through volunteering, showcasing a palpable enthusiasm for your mission.

WILLING spotlights their history of financial support for your cause. These donors have already shown a commitment to your organization through their previous contributions, displaying a genuine belief in your mission through their financial contributions.

ABLE emphasizes their wealth—specifically their financial capacity—to contribute meaningfully. These individuals possess the resources or wealth necessary to make substantial donations that significantly impact your cause.

When you find someone who embodies the readiness, willingness, and ability to give, you’ve discovered a potent force for advancing your cause—a passionate supporter with the qualities to effect transformative change. And savvy fundraisers know that focusing on these donors first can unlock your fundraising potential with less effort.

But how do you spot generous donors, especially if you’re stuck using spreadsheets or outdated systems? That’s where Bloomerang comes in.

Bloomerang simplifies the process of pinpointing potential generous donors. Predictive Giving Insights, included at no additional cost, automatically analyzes every record in your database and then spotlights ideal donors without complicated steps or complex coding.

Predictive Giving Insights is comprised of two ratings: Engagement and Generosity. Together these two measures can give you a good idea of how they can contribute to your organization. And with a little nurturing, they can bloom into an even more valuable force that can move your mission forward.

Segmentation and personalization: The secret of savvy fundraisers

Categorizing your donors into segments and then tailoring your strategies and communications can maximize engagement, retention, and contributions. To make it easy, Bloomerang provides pre-built templates that let you segment and prioritize who to focus on with just a few clicks, so you don’t have to be a data expert. Segmentation and personalization are the secrets that savvy fundraisers use to amplify engagement, retention, and contributions, paving the way for personalized interactions that build stronger connections between donors and your cause.

But not everyone in your database is going to be ideal. And that’s okay. Categorizing your donors into segments like the ones below and then tailoring your strategies and communications to them can help you maximize engagement, retention, and contributions.

Effective fundraising often involves categorizing donors and tailoring strategies to suit different segments to unlock hidden potential. This can enhance engagement and contributions. Consider these four donor categories:

• Ideal Donors (High Generosity + High Engagement): Treat them like VIPs! They already love your cause and give generously. Prioritize them for meaningful updates, impactful projects, and major gift solicitations.
• Prospective Patrons (High Generosity + Low Engagement): They’re big givers, but the flame needs fanning. Find ways to ignite their passion. Invite them to volunteer events, share personalized impact stories, and offer opportunities for deeper involvement. You might witness a meteoric rise to Ideal Donor status.
• Passionate Champions (Low Generosity + High Engagement): These aren’t just donors; they’re your cheerleaders! Channel their enthusiasm by engaging them in advocacy, volunteer opportunities, and peer-to-peer fundraising. Their dedication can inspire others to contribute, and who knows, they might surprise you with a larger gift down the line.
• Disengaged Defectors (Low Generosity + Low Engagement): Don’t give up on them just yet. A heartfelt reconnection email, a personal update on their past contributions’ impact, or a simple “thank you” can ignite their connection. You might be surprised by how a touch of appreciation rekindles their support.

Remember, segmentation isn’t a one-time exercise. As your donors evolve, so should your strategy. By analyzing their behavior and adjusting your approach accordingly, you’ll unlock a world of fundraising possibilities.

Sticking with the same old approach might feel comfortable, but it comes at a hidden cost: missed opportunities.

Consider Bloomerang an investment in your fundraising efficiency—your own data-powered assistant, identifying the donors most likely to give generously and helping you prioritize your outreach. The results? Less time chasing cold leads, more resources for meaningful engagement, and ultimately, the unlocked potential to fuel your cause to new heights.

Take the first step in finding your most generous supporters

Take a step toward a more informed, generosity-focused fundraising strategy. By taking advantage of Bloomerang Predictive Giving Insights, included as part of your subscription, your organization can unlock the full fundraising potential of your data, shifting from broad prospecting to building meaningful connections with those most likely to support your cause significantly.

How does your organization find and steward generous donors? Let us know in the comments. 

The post The True Key To Unlocking Giving Is Generosity appeared first on Bloomerang.

Some donors can cost a great deal to acquire, and then only make one gift before lapsing.

As fundraisers, we have a responsibility to raise money efficiently, investing our time and resources prudently.

For example, it wouldn’t be efficient to try to reach a big fundraising goal by asking everyone to give a small amount. We don’t want everyone to give a small gift. We want the people with the capacity to make major gifts to make them.

There’s a fundraising story about Bill Gates receiving a telemarketing call from a young student alum asking fellow Harvard alumni to donate. Interestingly, Bill Gates dropped out of Harvard after three semesters and never graduated. Even more interesting? Bill’s reply to the young student. He gave an enthusiastic yes and then asked how much other folks were giving. When the student replied that “most people were giving $500” Bill replied, “Great, I’ll give that amount as well.”

That $500 may be a large gift to some, but it’s not a large gift to Bill Gates.

In fundraising, you want the people who can give the largest gifts possible to make them.

Jerry Panas, who wrote the number one selling fundraising book to date, Asking, once said, “Your goal as a fundraiser is to get the largest gift possible, in the shortest amount of time possible, to the greatest joy of the donor.”

But how?

Where can you find your most generous donors and prospective donors?

And how do you know how much to ask for?

Where to look for your most generous donors

If you’ve ever read the book The Millionaire Next Door, then you may realize you could have very wealthy people in your records who don’t appear to have massive wealth.

They don’t drive fancy cars or live in mansions. Their net worth may surprise you because they live a very modest lifestyle.

How can you find these ‘diamonds in the rough’ who may be hiding out in plain sight?

What if you knew more about their generosity, how philanthropic they are, and what causes they hold dear?

Get to know your donors’ giving habits

Bloomerang bakes Predictive Giving Insights into the platform. Having these insights available for all your donors enables you to tailor your communications and engagement strategy specifically for that prospect or donor, deepening your philanthropic relationship.

How useful and advantageous would it be to have your donors’ motivations, giving preferences, and wealth at your fingertips as you prepare for a visit or ask?

Imagine how efficiently you could use this data to build both major and mid-level portfolios.

Instead of coming to work wondering which donors you should focus on, you’d have a system that brings hidden gems to light that you might otherwise have missed.

Ask for the right amount every time

How stressful is it to visit a donor not knowing how much to ask for?

Knowing what they’re giving to other causes and how engaged they are with you can help you ask the right donor, for the right amount, for the right project every time.

Thanks to Bloomerang’s DonorSearch integration, you have access to the Online Suite of Tools to find new donors.

You can also use the ProspectView Research tool to look up historical records of charitable and political giving by individuals, foundations, or businesses, to help move a prospect giving to similar causes to become part of your donor family.

ProspectView Research tool makes it easy to prepare for one-to-one conversations and increase the likelihood of securing gifts at the right level by understanding their interests, values, and giving capacity.

You can use the Marketing List tool to segment your audience based on past giving, wealth, and demographic data to perform targeted prospecting campaigns within your Bloomerang email tool. If you don’t have email addresses, you can add an email append to match constituents’ names and mailing addresses with their current email address.

One-size-doesn’t-fit-all

One of the most common mistakes small and medium-sized nonprofits make is having a one-size-fits-all ask string and reply device that isn’t tailored to the person receiving the appeal. You need to tailor the ask string based on their generosity. It’s a critical part of your strategy to upgrade donors. Inviting all your constituents to give the same ask amounts can cost you generous gifts and leave large sums of money on the table.

Adding DonorSearch Prospect View to Bloomerang means you can easily build segments for campaigns, enabling you to target groups of prospects for a first-time gift, mid-level donors for an upgrade gift, or lapsed donors with a smaller gift to win them back.

What’s most valuable by far, however, is that you can finally have the major gift portfolio of your fundraising dreams—filled with major gift donors and insight into their generosity.

How are you finding your most generous donors? Leave a comment below. 

The post How To Find Your Most Generous Donors appeared first on Bloomerang.

Dear Charity Clairity,

I have a question about how to attract corporate matching gifts. We receive very few, and I wonder why more donors don’t take advantage. I have a hunch many qualify for this employee benefit, but they don’t submit requests to their employers. I know all companies have different requirements, but we’re a small shop and don’t have the time to research this for everyone. Is there something I could do to help more donors access this matching money?

— Missing the BOGO

Dear Missing the BOGO,

I love the way you’ve signed your query, as this shows you definitely understand the benefit you’re missing out on. Matching gifts are truly the social benefit sector BOGO. Raise one gift, get the second gift free!

But you do need a plan. Just sitting by the phone waiting for your donor to figure it out—and do all the work—is simply not going to cut it.

So, let’s review matching gift programs, why it behooves you to invest front-end resources to leverage big wins on the back end, and what you can do to overcome participation roadblocks.

Everyone wins with corporate matching gifts

Businesses put aside matching gift money at the beginning of their fiscal year, just waiting for it to be claimed. Alas, billions of dollars are left on the table because (1) employees don’t know about this money and (2) nonprofits don’t inform their donors of the opportunity to claim these funds. Taking advantage of these  programs takes planning and commitment on your part. But at the end of the day, there’s no downside to promoting matching gifts.

Matching gifts are a win-win-win.

1. Your organization

Matching gifts lift average donation size, improve retention and donor lifetime value, and open the door to other giving. Donors prompted to envision their gift being multiplied are often inspired to give more. In fact, 1 in 3 donors will give a larger gift if a match is applied. Sometimes, this is to meet the minimum required by their employer, or sometimes even the maximum! Donors don’t like leaving money on the table any more than you do. Other times this is to reach a giving level set by you, perhaps to join a particular Giving Society. In other words, while they might never consider a $1,000 gift to join your “Angel’s Circle,” they might consider lifting their $250 gift to $500, taking advantage of the matching gift from their employer, and thereby qualifying as a $1,000 supporter. Once they’ve basked in the glow of increasing their gift, they’re more inclined to repeat their behavior. Not only does this increase personal giving, but also inclines them to advocate on your behalf for other types of corporate philanthropy, such as foundation grants, in-kind donations, or marketing support.

71% more donors respond to appeals mentioning matching gifts! Such an appeal creates a sense of urgency or FOMO, so donors feel more compelled to act. This helps you acquire new donors as well as retain and upgrade ongoing ones. Also, the corporate giving you leverage acts as a form of social proof, providing testimonials as to your worth in addressing some of the community’s most pressing problems. The more you grow corporate support, the more others in your community trust that you’re a worthwhile beneficiary of their philanthropy.

2. Corporations

Matching gifts improve employee recruitment, retention, and productivity. Employees value this benefit and what it says about their company’s commitment to social responsibility. This enhances their satisfaction, providing a sense of purpose in their work. They like having a say in where company money is donated, and these donations are tax-deductible by the company.

Matching gifts enhance brand image, improving consumer loyalty. Customers are more likely to patronize businesses they view as socially responsible.

3. Individual donors (i.e. employees)

Donors feel good when they’re able to easily amplify their giving. It’s easy for them; all they need to do is spend a few minutes completing matching gift paperwork. This extends the dopamine rush from giving, bringing greater joy. They then attribute this good feeling both to their employer and to your organization.

Employees feel good when they believe their work is supported. Because they feel satisfied with their giving and with their employer, they become more loyal to both their company and the nonprofits they support.

Matching gift challenges and finding solutions

When they know about them and they’re easy to do, donors love matching gift programs. But they need your support and guidance. Let’s review typical roadblocks and what you can do to remove them.

1. Overcome Roadblocks to Donors

Donors often don’t know that their company has a program, let alone the ins and outs. It can be cumbersome for donors to track this down, so whatever you can do to help them along the way will yield beneficial results. Here are some strategies to employ to shine a light on this opportunity and illuminate the next steps.

1. Create awareness using something as simple as “Did you know many employers will match employee donations?“
2. Note matching gift companies currently giving to you. Include links to these organizations matching gift portals, as available.
3. Provide concrete examples</ of approved matches to your organization.
4. Suggest donors reach out to their company’s human resources program to ascertain eligibility.
5. Note companies that commonly match gifts, especially if they’re located in your geographic area.
6. Consider using a searchable matching gifts database. Double the Donation 360 Match Pro is the leader; there are a few other options. You make an upfront investment in the software and reap the rewards of more donations matched, more than offsetting the cost of entry.
7. Provide donors with the information they’ll need to complete paperwork. Having a centralized matching gift landing page with your organization’s name, mailing address, contact person, email, phone number, and Employer Identification Number (EIN) will make it easy for donors.You can locate this under a “Ways to Give” dropdown menu.

NOTE: Corporate Social Responsibility (CSR) vendors are becoming more common. They help companies administer their programs. So to make it easier for employees and employers to direct their match to you, it’s smart to register with as many of these searchable platforms as possible (biggies are Benevity, Cyber Grants, and Your Cause).

2. Overcome roadblocks to you

When you fail to plan, you plan to fail. Put a matching gift fundraising plan in writing. Designate one person to coordinate matching gifts.They need not be full time, but by centralizing this, you’ll be more likely to (1) make acquiring these gifts a priority and (2) follow through as necessary and appropriate. For example, if a business sends you a letter or email asking you to verify an employee’s donation, you’ll want to have a process in place to take action quickly and efficiently. Otherwise, you risk letting internal employer deadlines expire and losing the gift.

The biggest roadblocks are (1) not having up-to-date employment information for your donors and (2) not having access to each employer’s matching gift program details. Here are ways to access this information so you can share it with your supporters.

1. Collect employment information early and often. Ask everywhere: on paper remits, donation confirmation, and thank you pages. On these pages, extoll the virtues of these programs, clarifying how they typically work and suggesting how much money and leverage may be available.
2. Contact major employers in your geographic area and ask them for their details. This has the added benefit of building awareness about your mission among local businesses.
3. Identify major players in global industries related to your mission and research their matching gift programs.
4. Again, use a searchable matching gifts database. This eliminates manual research, makes it easy to track changes over time, and makes communicating eligibility automatic and simple. You can automate messages so you deliver multiple reminders to folks as they progress along their philanthropic journey with you.

How roadblocks lead to revenue gaps

The truth is billions of matching dollars go unclaimed every year. Billions!

You can help donors easily access the information they need to receive their benefit. Either guide them in how to connect with their company and what questions to ask or connect them directly from your website to theirs using matching gift software. If you know what company a donor works for, you can send a link directly to their company’s matching gift page. You can also provide them with personal reminders and repeat instructions as eligibility deadlines approach.

Many more of your donors than you might think work at businesses that match donations. In fact, 65% of Fortune 500 companies match donations—that’s 26 million people. Yet without automation, only 8% of donors know their company has a program, know they’re eligible, and know how to submit their matching gift request. Lack of knowledge and confusion leads to inaction on the donor’s part, meaning the gift for which you’re eligible flies out the window.

Your job is to do something to drive eligible matching gifts to completion. Rather than sitting at your desk, wondering why your donor who works at a major financial institution never submitted a form to get their gift matched, take a more proactive stance.

• Automate emails to your donors, making them aware of the opportunity.
• Include links to your matching gift landing page to reiterate the benefits.
• Include links to a searchable matching gift database.
• After a gift is made, send emails—preferably automated—to remind donors of this potential benefit. Include “next steps” instructions.

Hopefully, missing the BOGO will now be a thing of the past!

What’s your experience with corporate matching gifts? Please let us know in the comments below.

Please use a pseudonym, like “Missing the BOGO” did, if you prefer to be anonymous.

The post [ASK AN EXPERT] What Are Best Practices To Acquire More Corporate Matching Gifts? appeared first on Bloomerang.

 
Donor acquisition is crucial for the future growth and longevity of nonprofits. If you are unable to replace your lost donors with new ones, it won’t be long before you’re left with no supporters.
 
In this session, we’ll break down this seemingly daunting undertaking to help you manage your data, communications, fundraising, and other tasks to improve your donor acquisition.
 
Topics covered:
 
• The donor lifecycle

• The role and importance of donor acquisition in the donor lifecycle

• Building a strategy for donor acquisition

• Implementing technology in your strategy
 
Walk Away With:
 
• The Donor-Centered Content Marketing Worksheet and Checklist guide

• Using your data within your CRM for donor acquisition

• Consider ways to segment and communicate appropriately with potential donors

• Learn about how online tools can help bring in new donors
 

The post Modern Tips to Boost Donor Acquisition appeared first on Bloomerang.