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12 May 2016
Understanding the reasons why people donate to charities could evidently increase the amount of donations for your own charity. Take a look at the findings from the latest studies, published in The Wall Street Journal (WSJ) to see if you can apply these to your own charity, club or school and potentially increase donations.
A Well-Known Donor
The university of Yale teamed up with Technoserve, a charity focused on development of poverty reduction, to look at the impact of advertising a gift from a well-known donor. Naming big donors is important in increasing the charities reputation, as ‘it’s hard for individuals to evaluate charities these days’ (Prior, 2014). ‘It’s serving as a quality signal, that this is a high-quality organization and you should support it” explains Mr.Karlan, who is the president of Innovations for Poverty Action (Prior, 2014).
If you have a celebrity, an industry leader or someone important to your charity donate to your cause, be sure to tell everyone about it.
Seeing Success
Extensive research in Canada showed that, ‘an overwhelming 76% of respondents reported a deiced shift in their giving to favor charities with measurable results’ (Sumac, 2013).
So be sure to celebrate and emphasize your good results. Give the potential donor statistics and facts that will show the success of your charity.
Having Public Recognition
The results from a study by Harvard University found that giving people public recognition, no matter how small, can motivate people to donate. The probability of giving rose from 11% to 13.5% and so did the amount they gave because the donors were promised to be featured in the newsletter if they gave a certain amount (Prior, 2014).
If your charities has a notice board, monthly newsletter or even a Facebook/Twitter profile, promise your donors the chance to have their name featured if they donate a certain amount. It’s simple, easy and cheap to do!