Posts Tagged ‘Roger Craver’

Announcing CausePlanet’s Choice Award winners: Our top books for nonprofit leaders

cp_bookchoice_2016_greenIt’s my favorite time of year for many reasons. One of which is that my team at CausePlanet enjoys reflecting on the books we reviewed in 2016 for nonprofit leaders. Here are some of our favorites among them.

It goes without saying that this is an incredibly tough process because we don’t review a book to begin with unless we feel it has value for our readers. The titles below receive our CausePlanet Choice Award designation because each stood out on many counts, including factors such as originality, insight, inspiration and applicability.

We would like to congratulate the following authors on providing our sector with guidance and wisdom in these wonderful book titles:

How to Turn Your Words into Money: The Master Fundraiser’s Guide to Persuasive Writing by Jeff Brooks. turnyourwordsintomoneyfb

Jeff BrooksHow to Turn Your Words into Money is a nonprofit writer’s new ally with the latest guidelines for creating the most effective messages to persuade your reader. Brooks explains what fundraising writing is not and what it should be. He does so in a way that tells you exactly what to avoid and what to try in your next attempt to sway your audience. A fair amount is appropriately dedicated to the many ways you can create a compelling story even when you’re stumped. How to Turn concludes with what every fundraising writer needs: universal assumptions we know about donors and some helpful advice to keep you inspired. 

Performing Under Pressure: The Science of Doing Your Best When It Matters Most by Hendrie “Hank” Weisinger and J.P. Pawliw-Fry.performingunderpressurecover

Pressure is the enemy of success, according to vast research conducted by Performing Under Pressure authors Weisinger and Pawliw-Fry. Since it’s impossible to live life free of pressure, the authors present strategies to manage it immediately and in the future. Divided into three parts, this book helps you understand all aspects of pressure-inducing situations, provides 22 powerful solutions for handling pressure scenarios, and explains how to build your own “armor” to protect yourself over your lifetime from the ill-effects of pressure. 

Retention Fundraising: The Art and Science of Keeping Donors for Life by Roger Craver.retention-fundraising-cover

If you want to change the world, author Roger Craver argues that you must tackle one of the greatest fundraising challenges: retention. In other words, don’t raise a dollar unless you have a plan for keeping that dollar. Unfortunately, low retention has become increasingly accepted as a given in nonprofit operations. Craver asserts this doesn’t have to be the case. Thanks to a study of more than 250 organizations, Craver and his collaborators have introduced a framework for boosting retention and the lifetime value of donors. This framework is the foundation to improve each of the retention issues he presents, from redefining loyalty to understanding authentic engagement.

Mobile for Good: A How-To Fundraising Guide for Nonprofits by Heather Mansfield.mobile-for-good-cover

Any doubts you may have that social networks aren’t powerful or don’t need to be a priority in your communication and fundraising efforts can now be put to rest, according to Mobile for Good author Heather Mansfield. A comprehensive and thoroughly researched resource for nonprofits, Mobile for Good helps you master mobile content distribution on social networks so you are more likely to experience fundraising success. She provides recommended software, helpful checklists and nonprofits you should model. Advanced users will find a section dedicated to nonprofit staffers who are ready to tackle more challenging strategies. 

The Good Ones: Ten Crucial Qualities of High Character Employees by Bruce209-by-248-the-good-ones-cover Weinstein.

Questionable character is costly. Employees who lack character cost businesses and nonprofits billions of dollars each year. Unfortunately, employers focus too much on what candidates need to know or do and rarely think about what makes an employee great: character. The Good Ones: Ten Crucial Qualities of High-Character Employees presents ten qualities that clarify what it means to be a high-character employee. Stories from employers and employees illustrate how these traits are critical to the long-term success of your nonprofit and to the employees who exhibit them. This book contains advice for the employer, the interviewee and employee in search of a character fit.

The Generosity Network: New Transformational Tools for Successful Fundraising by Jennifer McCrea, Jeffrey C. Walker and Karl Weber.generosity_network_cover_large

The Generosity Network was written for those of you who work for one of the 1.8 million organizations that make up America’s nonprofit sector and the 10 million nonprofits worldwide. Whether a nonprofit leader, volunteer, board member or front-line employee, each person plays a critical role in attracting support for its organization. This book describes an approach that makes working with partners easier, more effective and, dare we say, more fun. The basis of the coauthors’ approach is rooted in relatedness and connectedness with partners. These partnerships are built upon three elements: know yourself, know others and know how to ask.

I encourage you to give yourself the gift of knowledge and download one of our book summaries and purchase the book. Make 2017 count by committing to your professional development. Knowledge has a shelf life and it must be renewed!

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Nonprofits: Don’t raise a dollar unless you plan on keeping it

According to Ken Burnett, “Our nonprofit sector is bleeding to death. We’re hemorrhaging donors, losing support as fast as we find it, seemingly condemned forever to pay a fortune just to stand still. It’s time we stemmed the flow.”

It’s understandable why Retention Fundraising author Roger Craver chose Burnett to write the forward for this book. Burnett brings the right amount of warning to the issue. Burnett is right. Our social sector is in dire need of determined action to diminish donor attrition.

Why?

A few of the many reasons include the following: Attrition costs our organizations billions of dollars and effort. It suffocates the other mission-related work we’re trying to do. It undermines the sector as a whole. Unfortunately, many fundraisers accept low donor retention as a fact of life.

Roger Craver says it doesn’t have to be that way. Craver has unpacked the answers to many of the challenges nonprofits face with attrition such as shifting the fundraiser’s focus to what matters most to donors, overthrowing retention barriers, responding efficiently and more.

Thanks to a study of more than 250 organizations, Craver and his collaborators have introduced a framework for boosting retention and the lifetime value of donors. This framework is the foundation to improve each of the retention issues he presents, from redefining loyalty to understanding authentic engagement.pinterest-com

We asked Craver about how to make a case for retention activities if you need to enlist your colleagues and leadership in the process. We also had him share insights on the metrics you should measure:

CausePlanet: How do you convince nonprofit organizations that focusing on donor retention is worth the extra time, effort and expense?

Craver: Year after year for the past decade, donor-retention rates have been sinking. Today, they’re at an all-time low.  According to studies by the Association of Fundraising Professionals, every $100 raised from new donors was offset by $100 in losses because of attrition. All this despite the facts that organizations have

– a 60-70 percent chance of obtaining additional gifts from an existing donor.

– a 20 to 40 percent chance of obtaining an additional gift from a recently lapsed donor.bloomerang-com

– but less than a 2 percent chance of obtaining a gift from a prospective donor (actuation).

So one thing should be glaringly obvious. The bulk of an organization’s fundraising spending should be aimed at holding onto and building relationships with existing donors, not in acquiring new ones. It’s called “retention.” Unless an organization’s goal is to never grow and eventually decline, the failure to focus on retention is ultimately ruinous as the organization’s support shrinks like a raisin in the sun.

CausePlanet: Would you talk about how the metrics you have developed (lifetime value, etc.) help a nonprofit track its fundraising and justify its time and effort?

Craver: There are some fundamental metrics that serve as a sort of fundraiser’s GPS—Retention Rates and Lifetime Value. They quickly and easily indicate whether an organization is relevant to its donors.

Number of new donors making a second gift: A harbinger if not dead-on predictor of the retention rates and Lifetime Value an organization is likely to enjoy in the future.

Number of new donors retained into the second year: If you ask and answer the question as to why so many donors leave the first year and what your organization is doing to lose them and hold them, you’ll be on a true track to growth. Fail to answer them, and it’s more of the same.

Multiple Year Retention Rate: Same as above, but by tracking these year by year you can spot trends, problems and opportunities. Why? Because year-over-year comparisons of this metric will trigger additional questions and answers for improving your program.blog-capterra-com

Lifetime Value of a Donor (LTV): At the end of the day all the actions you take to improve retention, average gift and donor commitment will be reflected in the Lifetime Value of each donor and all donors collectively. This is the key metric on which you can benchmark, guide and then track the success–or failure–of your intermediate and long-term strategies.

There’s never been a better time for Roger Craver’s book. Why let one more hard-won donor leak through the bucket when instead, she could be a lifetime supporter of your organization. Simply put, calculate the cost of repeated acquisitions versus the renewal of a donor who is predisposed to support you.

Craver provides countless data-based methods for retaining donors including Cliff Notes to his own advice at the end. From what drives donors to stay to what prompts them to leave, Craver makes it impossible to look the other way on retention–and your nonprofit will be better for it.

See other book summaries related to this title:

Fundraising the SMART Way™: Predictable, Consistent Income Growth for Your Charity + Website

Fundraising When Money Is Tight

Influential Fundraiser: Using the Psychology of Persuasion to Achieve Outstanding Results

Image credits: blog.capterra.com, bloomerang.com, pinterest.com, retentionfundraising.com

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