What Does a Long-Term Donor Look Like for a University?, Ep #16
Episode 16
With Benjamin Johnson & Matt Hussey
Matt and Ben are going back to school on this episode of Frontier FM! The two discuss their own university experiences, the challenges higher education organizations face when trying to fundraise, and what the ideal donor program looks like for a university.
You will want to hear this episode if you are interested in...
Finding the pandemic’s silver linings [0:40]
Baseball cards, cryptocurrency, and legacy giving [8:41]
The difference between fundraising for charities versus civic organizations [17:57]
Matt and Ben share their university experiences [20:07]
The alumni mindset universities need to overcome to fundraise effectively [24:50]
The ideal university annual giving program [26:25]
How to cultivate lifetime donor value as a civic organization [28:36]
Matt's best university story [32:25]
Understand that civic organizations are different
One of the biggest fundraising mistakes a civic organization can make is using the same strategies to receive donations as a needs-based charity. Civic organizations and charities are extremely different! Effective marketing for needs-based charities aims to trigger an emotional response from a potential donor that motivates them to give so that a need is met. Like supplying clean drinking water to overseas communities. It’s highly unlikely that a university or a suburban summer camp will be able to elicit that level of emotional response from its potential donors. After all, Maslow didn’t exactly list adding a new library wing to his hierarchy. But that doesn’t mean that civic institutions are out of luck in the fundraising department! Rather than rely on people’s desire to meet a need, Ben suggests these kinds of organizations appeal to people’s desire to belong. Being a part of something matters and making donors feel that is the best option for fee-based charities to raise additional funds.
Overcome the common alumni mindset
There is a lot of animosity between universities and their current/former students these days. The skyrocketing cost of tuition shows no sign of coming down while tenured faculty salaries often start in the six-figure range. Needless to say, the student debt crisis is not something universities can ignore while strategizing how to solicit donations from their alumni. Rather than seeking sympathetic support from someone who likely feels like they’ve already given the school their last dime, universities should consider a different approach. They have to capitalize on the idea of community. As Matt said, community often takes the focus over academics when alumni think about their time spent on campus. Donating as a means to stay connected to that community is an ideal strategy for universities looking to fundraise.
Create a definitive experience
Creating an excellent donor experience should be the goal of every charitable organization. However, Ben reminds the listener that if an organization's average donation STARTS at $10,000 (as most universities do), they should define what an excellent donor experience looks like in the first place. Creating a “black card experience” for university donors will promote loyalty and cultivate lifetime donorship for the organization. As mentioned before, being a part of something matters. Having a legacy matters. And when donors consider leaving a legacy gift, it’s going to be given to the organization that made them feel like they mattered.
Resources & People Mentioned
Email Matt and Ben YOUR fundraising questions at junkmail@frontier.io!
Higher Education Fundraising in 2021 (Article)
SOFII · University of Sheffield, direct mail – the longer the better? Two page vs. four page letters (Article)
3 Marketing Strategies University Fundraisers Need to Know (Article)
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