Single cash or RG? There is a third way
How many meetings have you sat in to debate single cash versus a regular gift? Everyone wants the RG of course, which makes the ROI much better. But getting RG sign-ups is not the easiest ask to go out with, so single cash has obvious attractions but does need a strong re-activation strategy.
It’s a choice you shouldn’t always make.
I’ve written before about the subscription model which fundraisers could be looking at. And one of the key marketing features of the subscription model is the trial. Look at Spotify, at Netflix, at most streamers. The usual offer is a trial for 3 months. There is a labyrinth of variations on this process, especially at the back end, but the essence of the offer is that it’s easier to get sign-ups and once signed up, the experience of the product should take the triallist over the 3 month period and convert into a regular subscriber.
I can’t see what fundraisers wouldn’t adopt this system. You’d ask for a 3 month DD, which automatically cancels at the end of the period. This is one of the areas where you can test all sorts of variations, especially auto renewal unless cancelled, but I’m not sure fundraisers should start at this point. Once signed up, you’d give your ‘temporary’ RG a high level of engagement, via video, emails and what have you and as expiry approached you would have to work hard. But you’d have had 3 months income and even if they didn’t convert at that moment, you have a good prospect.
And you’d need the story to tell. Emergency appeals would be straightforward to offer the 3 month RG for. Other, longer term asks could also benefit: there’s no good reason why you shouldn’t explain why there’s a trial – a chance to see what a difference you’re making. I’m not aware that any fundraiser has tried this. Be delighted to hear otherwise. Hopefully so would everyone else!
#fundraising #donations #charity
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