The Three Biggest Acquisition Myths Debunked
When recommending clients invest in new donor acquisition, we often hear the same objections again and again. Unfortunately many of their objections are in fact, misconceptions. Here we tackle some of the most common myths about donor acquisition.
Myth #1: Only the big non-profits can afford acquisition
How do you think the big non-profits became big in the first place? When they were new and fledgling organisations they made a decision to commit to and invest in an acquisition program. This myth seems to be fuelled by the belief that acquisition is expensive. While it certainly can be costly, there are some low-cost options to be explored. The trick is knowing your donors and thinking outside the box to find more people like them.
Myth #2: It isn’t worth investing in acquisition during a slow economy
According to our most recent Giving Trends report, income from acquisition activities was steady or rising for 82% of non-profits with an acquisition program. Public awareness of a slowing economy can, in fact, provide an opportunity for many non-profits tell more compelling stories about their impact in the community and show a greater need for support. Organisations that cut back now will find it very difficult to regain momentum if and when the economy improves.
Myth #3: It is easier to keep your existing donors than find new ones
While donor retention is vitally important, there are some situations where you will be powerless to keep your donors. When you are experiencing natural attrition as a result of an aging database, finding new donors will be much easier than keeping the ones you have. The same goes for cases where there is a high-level of donor fatigue.
What these acquisition myths really highlight is how limiting it can be to let assumptions guide your strategy. At OKP we know that no two organisations are alike and therefore carefully analyse our clients to develop the most effective solution for their unique circumstances. Why not give us a call on 1300 7211991300 721199 to find out if we can help you develop or get more out of an acquisition program.