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The Psychology of Giving: 18 Tips to Increase Donor Retention and Lifetime Value

Nonprofit Megaphone

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.

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The Power of Heroic Philanthropy: Understanding Donor Motivations

iMarketSmart

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 donor motivations. Review of General Psychology, 15 (2), 99-113. Only a successful protector displays true friendship insurance reliability.

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Dr. James explains how to harness friendship reciprocity to unlock heroic donations

iMarketSmart

6] A donor can be seen to sacrificially protect his people or values. Emits positive externalities”] Understand the donor’s values 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]

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How to build deeper connections with your donors using surveys

iMarketSmart

The universal steps for a compelling donor experience are: Socratic fundraising guides the donor through these steps.[1] This means connecting with the donor’s Values People, or Life story. Values identity questions: Examples Here is an example of questions asking about donorsvalues.

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Peer-to-Peer Fundraisers: Don’t Run. Dash!

The Agitator

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.

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How to develop a ‘character’ in your fundraising stories in 3 steps — according to Dr. Russell James

iMarketSmart

As a specific example of the importance of identification from fundraising, an in-depth investigation of donor motivations 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.

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Understanding Why People Give (hint: it’s not what you think!)

Get Fully Funded

Understanding the psychology behind giving can help you understand the donor’s motivation, 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.