So, there's some indication that better times are ahead. The prognosticators are seeing light at the end of the tunnel; the news isn't as bleak as we've grown accustomed to.
If you've read my previous blog postings on doom-and-gloom, then you know I've never advocated pulling back. But, people being human, many have been startled by the last six months, frozen into lethargic inaction or an unfocused milling around, wandering and waiting.
If that's you, latch onto the hope-filled indicators and use them to declare an end to your organizational funk. It's over. Finished. As of this moment. Make a note of the date and time. This is when the recovery begins. Let's move on.
So what shall we do now?
Job one: Strengthen your existing donor relationships to enhance loyalty, foster strong relationships and encourage word-of-mouth referrals.
Regardless of the state of the economy, Pareto's principle dictates that 80 percent of your revenue will come from 20 percent of your donors. In fact the updated take on this rule is that the ratio is more like 90/10 or even 97/3.
Thus, it is more important than ever to know who that 20% (10%? 3%?) of top donors are, and shower them with love and attention.
Use this time to re-connect (or connect for the first time?) with your best donors. Not by direct mail. Not with an email. Not with an event invitation. Not by phone. Go see them! Conduct visits, in person, elbow-to-elbow, eye-to-eye. Work even harder, listening to and understanding their needs while presenting opportunities to be involved that address the pressing interests they have in your cause.
At the end of the day, make a concerted effort to stay upbeat, optimistic and positive. Celebrate wins (even the small ones).
It could be easy -- forgivable, actually, given the battering many of us have endured -- to be somewhat skeptical, even pessimistic, about the future. But pessimism never attracted a new donor (or renewed an existing one, for that matter). Commend yourself and your staff for successfully enduring - and thriving - through some of the most challenging times in history. And then go out and TELL YOUR STORY!
Thursday, May 7, 2009
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