The MSG Team
Nonprofits Leaders . . . Your Banker and Your Donors
Updated: Sep 7, 2021
Here's a good one for you. When is the last time you have seen your personal banker? I don't mean around town or at Rotary. I mean AT their office, IN their bank?
Chances are that number is a lot different than 10 years ago, when you might have seen them on a weekly basis, whenever you made your deposits.
Online banking and mobile banking has made such a difference in how we do business. Most notably though, is that loss of personal relationship we had with our bankers. According to the Banking Journal roughly 37% of people say they are open to changing banks, and with NO FACT at all to this, I firmly believe that part of the reason is that there is no more commitment to relationships as there once was.
Find a better rate somewhere or see less fees? Time to move on. Made me think about how we treat our online donors.
Blackbaud Institute states that online giving has increased 21%, with 28% of online giving being done on a mobile device. How well are you reaching out to those donors? Are you relying on just the "auto thank you" feature attached to your app? Are you only sending your end of the year tax letter?
Put it this way . . . what if donors treated you/your organization, like people now treat their bankers/banks? Just because the world might be going more electronic does not mean you still can't be personable. Handwrite some cards, meet people for coffee, shake hands at thank you events, have them take part in a study with Midwest Studies Group, and worst case . . . talk to people on Zoom. If you fail to keep your personal relationships going with your donors, that's a risk I would personally not be willing to take.
Need more help figuring out how to connect with new potential donors? Would your team feel more comfortable working with qualified leads for donations, planned giving, or a capital campaign? Let Midwest Studies Group help. Visit us at www.midweststudiesgroup.com to learn more.