Most good things will require you to lose money upfront. University and nonprofit fundraisers know this, because:
- Most fundraising events in the first year will lose money.
- Almost all “new donor acquisition” mailings will lose money.
They make money by maintaining and strengthening the relationships they have with current donors.There is an important lesson here. Treat your current donors and customers in a way that makes them want to be loyal to you, and don’t divert your resources too far in the direction of folks who may one day be donors or customers, but who aren’t today.
Will Marlow is an online marketing and website consultant. You may want to hire him to help you grow your business. He’s also the co-founder of AlumniFidelity, which you should check out if you care about fundraising for schools and nonprofits. Email him at email@example.com.