By Rick Dunham, Founder + Chairman of Dunham + Company
In our latest Donor Confidence Study, donors indicated that they are continuing to pull back and are feeling a significant degree of pessimism about the economy.
The volatility of the stock market, inflation, and other factors are taking a toll, and the latest data points to the need to understand the mindset of donors now more than ever as we navigate this unique giving climate.
Here are three key indicators we learned from this study:
- Donor sentiment is weakening compared to last year, primarily because of the toll the economy has taken on the personal finances of donors.
With one in four donors (24 percent) indicating they plan to give less in 2023, it’s imperative that organizations engage their donors with consistent messaging and powerful storytelling. While these donors say they will give less, they didn’t say they would stop giving. This makes it more important than ever to stay in front of donors, making them the hero, and keeping them connected to the cause.
- Donors continue to be pessimistic about the economy and direction of the country.
A majority of the donors surveyed still believe the economy will decline in the coming twelve months, or they are uncertain about the economy. Stay positive, ensure you maintain a frequent cadence of communication through multiple channels, and make giving as easy and accessible as possible.
- Donors believe it won’t take as long for the economy to recover compared to what they thought last year.
This is a bright spot! While donors are pessimistic about the economy declining this year, they believe it will recover more quickly than they did last year. So, work to keep your donors engaged throughout the year until we hopefully see the road to economic recovery.
We encourage you to dive deeper into these findings and download your free copy of this updated study today in order to inform your strategy and increase your impact in 2023.
Donor sentiment may be weakening, but keeping a pulse on donors’ frame of mind could make all the difference.