When it comes to donations, some factors are predictable. Organizations, in fact, can benefit from having some level of predictability when account for the upcoming year’s income. However, myths can plague these predictions, and businesses want to make certain that they know what’s wrong with certain myths about new donors.
Unbridled Spending
One common assumption about new donors is that they will virtually engage in unbridled spending. Organizations might expect that these donors will be the only ones to provide tremendous sums since they are new in this business. However, evidence doesn’t necessarily support that claim. Donors both old and new may contribute in similar ways.
Longer Relationships
Businesses may often feel as though they can inspire longer relationships with new donors than with old ones. While the way the business owners act will likely play a role in the longevity of the relationship, the company’s own personal interests do too. The length of time that a relationship stays intact can vary, and it may have nothing to do with whether the company is old or new.
Riskier Beginnings
Another perception that organizations might have of new companies is that they are risky to rely on. Organizations might see an new business provide a generous donation but then remain skeptical if the business can continue with such donations in the future. However, organizations should remember that new companies may have tremendous financial support. They may also have started as a smaller businesses that has been growing itself into a giant for decades. Getting to know the history of donors can help companies to determine if they can rely on them in the future.
Modern Methods of Payment
Companies may also assume that newer entities are ready to use more modern methods of payment. For example, they may think nothing of sending donations through online payment services or via apps. However, when entities are making large donations, they may prefer to use paper methods. Staying open to different methods of payment and allowing for these channels can help a company to garner donations on a regular basis and to encourage them from a variety of different places.
Making assumptions about new donors is not the best idea because doing so closes off people to possibilities. Keeping an open mind is one of the best ways to prevent myths from getting in the way of potential donors from all types of businesses.