In their stead, organizations are being pushed to build more authentic relationships with their communities. Charities are beginning to adopt the B2B business mindset of focusing on Customer Lifetime Value (CLTV) as a mechanism to maximize donations over the lifetime of the donor. The impetus behind this change lies in the data.
“Recurring donors are over five times more valuable than one-time donors”. - Classy’s The State of Modern Philanthropy 2020
Now, we know that the more personal we become in our correspondences, the better we perform. But naturally, we can’t meet every donor in person. So, how can we connect on a human level with donors to move them to becoming recurring donors and maximizing CLTV?
One method that has exploded onto the scene in the last few years is personal video. Personal video allows you to asynchronously message your donor a personal and compelling video message. Asynchronously means the donor can engage with it on their time versus interrupting their day with the cold call. Here is an example.