Please join CDP for a webinar discussing specifics you’ll need to handle both marketing and back-end operations so you can be certain your station is processing EFT payments correctly. We may or may not be eating Nachos as we deliver the presentation, stay tuned:
EFT /NACHA Update Webinar
March 25, 2015 at 2pm ET
Link to meeting: http://wgbh1.adobeconnect.com/r7r0f2bog31/
Conference # 1-888-205-5513 Code: 532167
**No need to pre-register for this webinar. Just click the link to join.
Of course if you can’t join us you will find the recording of this webinar under the Station Resources>Webinar Links header. If you forgot your password, contact us.
Canvassing continues to be a successful method of fundraising for stations. Wisconsin Public Broadcasting is one of 14 stations currently running a CDP canvassing operation nationwide. They were featured on their local news station last week and the clip linked below features a canvasser going door-to-door. The goal is to find new donors for participating stations, with the focus on increasing sustaining, or monthly, donors.
Click here to view the spot on WISC-TV.
If you’d like more information about CDP Canvassing or any other project, check the project header on our blog or contact us.
Sustainer programs are growing, but still show room for improvement | Current.org.
Did you know that a sustaining donor is worth an average of $56/year more than a non-sustainer? Sustainer programs are a profitable, valuable part of any thriving fundraising operation. In fact, in data collected from CDP participating stations (TV, Radio, and joint licensees), the percentage of donors who are sustainers has risen to 10% on average, with the very top-tier stations achieving much higher than that. This percentage is up from just 2% (on average) several years ago and is a significant factor in improving the overall retention rate at stations. With the cost-to-acquire a donor being variably high, it makes good fiscal sense to put membership’s collective energy behind strengthening your station sustainer program.
The picture above is taken from Current’s website and is sourced from Greater Public’s Benchmarks for Public Radio Stations.
CDP has created a checklist of practices gathered from top-performing stations in this metric. The checklist is meant to be exhaustive and includes literally everything we have found to work toward improvement; don’t be overwhelmed by this. Making even just a few key changes will have a measurable effect. This, and all other checklists, is located on our blog behind a password and linked here. Do contact us if you need a password reminder.
Did you know that CDP is now delivering monthly preliminary reports in-between the quarterly ROAR reporting? The preliminary reports are two small .csv files that are sent to the designated data contact at your station two weeks before the end of each quarter. Now your station will receive these reports every month, not just in ROAR production months. Getting your files to us on or before the 25th of each month will ensure you’re included.
These files are a “sneak peak”, if you will. They allow you to check your 12-month revenue totals and file source coding ahead of time so that you can receive the most accurate ROAR report possible.
Should you see something that doesn’t look right in the preliminary reports, simply make corrections to the source coding in your station’s database – that way, the fixes are permanent. If you’re not sure how to do this, or have any other questions regarding what you see in the preliminary reports, don’t hesitate to reach out to someone on our team. Once corrections are made, re-trigger another file export to our FTP, and when the time comes we will use the most recent set of files to produce your ROAR report.
Living in a perfect world? Lucky you! These preliminary reports are for your review only, and if all looks well then you need take no further action.
If you’ve never seen these reports, it’s possible that they are being sent to the wrong contact at your station. Let us know, and we’ll be sure to update the CRM with the correct person.
An article in yesterday’s Wall Street Journal queried, “What gets people to give?” Ask and you shall receive – there is some new research out from Yale and Harvard Universities that help answer that very question.
One of the tests done leveraged the value of big-name donors, not as a Major Gift but as a gift that keeps on giving – literally. Mentioning a major donor or a foundation gift (in the test example the Gates Foundation was used) in direct mail to a potential contributor not only made them more likely to give, but also give more. Experts in the article said that big-name donors gave new donors the comfort of feeling that a charity had already been “vetted” and was a “safer bet” than others who made no mention of their major supporters.
Spotlighting donations publicly has always been popular, but the practice is typically reserved for those with, shall we say, a higher capacity to give. While most of us don’t have the kind of funds that puts our name on a wall, research shows we still benefit from positive strokes. Being acknowledged was a big motivation to give, and in a test run by Harvard University, the acknowledgement need not be grand. The promise of a simple newsletter mention was enough to raise the likelihood to give as well as the average gift amount significantly.
Read more about these tests and others at WSJ.com. Be sure to watch the video content as well – the interview with TinyGive co-founder Clarence Wardell is 4 minutes of very educational content.
In the wake of last week’s Donor Churn webinar, Agitator has made a whitepaper available (for free). This paper outlines the four issues around donor churn and discusses the cure to each of them. The issues are:
1. Thinking churn can be addressed when they call to quit or with a reinstatement program.
2. Believing churn can be fixed by sending more communications dubbed “engagement” or “loyalty” touchpoints (i.e. no hard ask).
3. Only assigning value to transactional data and being forced to guess at the “why” of donor behavior.
4. Treating donor service as a cost center and a burden.
The contents of the entire paper are embedded below and can be read here or pop open into a new tab.
The 2014 Luminate Online Benchmark Report is now available for download. And although this performance data in online fundraising is aggregated from 794 nonprofit organizations, the majority (80.7%) of nonprofits are raising less than $2 million per year online, suggesting that this is a fundraising segment in its fledgling stages.
Those of you who are familiar with the report will note that the delivery is quite a bit earlier this year, as it reflects a new approach Blackbaud is taking to examine the data from the fiscal year rather than the calendar year.
The comparison should make the metrics more relatable, at least for those running a July-June fiscal year. Also, the report is now published at a point when stations are fine-tuning their end-of-year giving efforts.
Check out key highlights on the colorful infographic available on this npEngage blog. Or download the full 62-page report for free by clicking here.