Jul 31, 2013
Fundraising is often thought of as being a linear process of finding and engaging a prospect, asking for a donation and moving on to the next prospect, according to npENGAGE. However, if charitable foundations approach fundraising this way, they may not be able to secure enough donations. Increasing the number of repeat contributors and donor referrals can help nonprofits capture higher revenue.
The first ask is refers to the first time fundraisers request a donation from a prospect. Most fundraising strategies revolve around this because organizations need to secure donations to keep the nonprofit running. The second ask is inquiring if donors will put the nonprofit in contact with other prospects.
Loyal donors are more likely to recommend friends and family members to a nonprofit. A small improvement in donor retention can significantly increase the lifetime value of the database, MajorDonors.com's blog stated. Some repeat donors may even make larger contributions or planned gifts.
The second ask is important because it can help organizations expand their fundraising base, npENGAGE said. If a prospect is introduced to the nonprofit through a contact, he or she is more likely to engage with the charity than prospects who were cold-called. The second ask should be approached the same way as the first, meaning nonprofits should use direct language