A New Year and a New Frontier, Ep #14

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Episode 14

With Benjamin Johnson & Matt Hussey

2020 is finally over! And while it was certainly a year of surprises for the world, not all of them were bad. Specifically for the charity world. On this episode, Matt and Ben reflect on the surprising outcome of last year, the possibilities of 2021, and the emerging trends that could shape the year to come.

 

You will want to hear this episode if you are interested in...

  • Matt’s latest read and why children’s books are probably a racket [5:58]

  • The best bet Matt and Ben have ever lost [10:32]

  • Examining possible trends for 2021 [13:26]

  • Exploring the income gap and its imminent effects on the charity world [16:04]

  • Broke millennials and monthly subscriptions [22:49]

  • The power of recurring monthly giving [32:39]

  • Video, Cameo, and investing in digital experiences [34:38]


Income gap awareness will be a key to fundraising success in 2021

Over the last several years, the gap between those with wealth and those without has steadily increased. But 2020 seemed to kick that trend into overdrive further polarizing the rich and the poor. Charities need to be aware that not all donors are in the same economic situation. Some may be struggling and will potentially need proactive assistance from the organization to downgrade their giving level. Other donors may be experiencing their best financial year to date and will be looking to give above what they have previously. In either case, organizations need to be aware of their donor base and market to them accordingly. 

Engage millennials with monthly recurring giving

Just because statistics show that millennials are broke does not mean they are any less generous. Charities may be hard-pressed to find a millennial who is willing to give a one-time gift of $100 to their cause. But asking that same millennial to give a low monthly gift of $10 is a different story. Not only is that $120 annually for the organization (that’s more than $100), but monthly recurring giving also provides an ongoing sense of connection to the cause. Not to mention that recurring givers are six times more likely to leave a legacy gift and have a retention rate of 90%! Any organization looking to engage millennials should have a monthly recurring giving option with a low-cost tier.

Invest in a digital experience

With the pandemic of 2020 came endless digital replacements for in-person events and meetings. Most of these came with lackluster attempts at connection and inevitable digital fatigue. But just because something has to be digital does not mean it has to be any less meaningful. Whether it’s for co-workers, clients, or donors, charities should invest in creating an experience around digital gatherings. Provide boxes for each attendee to open together on the Zoom call. Use apps like Cameo to have a celebrity show up at the party. Pump just as much surprise, excitement, and joy into digital events as you would in person.


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