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Understanding what flips the switch for your members to transform them from participants to passionate donors is the key to boosting your fundraising efforts. When members hear about a specific person who overcame adversity because of their help, it paints a vivid picture of the impact and value of their contribution.
The real challenge lies in retaining those donors over the long-term and increasing their lifetime value. This is where understanding the psychology of giving comes into play. We will also delve into the power of storytelling and the role it plays in creating an emotional connection between donors and the organization.
Dash right over to Amazon, click and order Dollar Dash: The Behavioral Economics of Peer-to-Peer Fundraising , a practical and powerful guide to the psychology behind P2P fundraising and the factors that drive donors and volunteers with plenty of case studies.
Russell James (the foremost researcher in our field) often speaks about the primal motivations for giving , emphasizing that donors give because of deep psychological and identity-driven motivations not just because they were asked. Thus, before asking for a gift, you must help the donor understand themselves.
5] A heroic donation is this: a sacrificial gift that protects the donor’s people or values in a crisis. 17]) The point is that the behavior gives insight into core donormotivations. Review of General Psychology, 15 (2), 99-113. Only a successful protector displays true friendship insurance reliability.
6] A donor can be seen to sacrificially protect his people or values. Emits positive externalities”] Understand the donor’svalues and preferences? Good at reading your mind”] Value the donor personally? Share the donor’s goals and values? Evolutionary Psychology, 6 (3), 386-392. [20]
The universal steps for a compelling donor experience are: Socratic fundraising guides the donor through these steps.[1] This means connecting with the donor’sValues People, or Life story. Values identity questions: Examples Here is an example of questions asking about donors’ values.
As a specific example of the importance of identification from fundraising, an in-depth investigation of donormotivations for giving to university athletic programs found that, “‘vicarious achievement’ was a primary motivational factor for donors to university athletic programs. Public Relations Review, 41(4), 480-489.
Understanding the psychology behind giving can help you understand the donor’smotivation, which will help you plan your next campaign, your next fundraising event, or your next face-to-face ask. Psychologists have studied the dynamics of giving for years and identified some key internal motivators for giving.
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