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Why Recognition Works
May 07, 2013One of the many reasons that people donate to their cause of choice is frankly, the joy of seeing their generosity rewarded, on a plaque for a modest donation, or a hospital wing or university chair if you are playing in the big leagues. Recognition of any kind stimulates loyalty, repeat performance and people just love to read or hear their own NAME!
There are some acknowledged practices that Mitch-Stuart, Inc. leaders in packaged auction travel recommend. Co-founders Stuart Paskow and Michelle Cohen say “Always thank a donor 3 times, even small recognition reinforces the power of the donation, stimulates loyalty to a brand and incents people.” However they caution, when thinking of ways to recognize your donors, be sure to consider their wishes, as some prefer to remain anonymous.
Here are some of the ways donor recognition works:
- Provides positive public awareness Companies will often participate in corporate philanthropy and as a result of their donations; the company name is touted publicly. This burnished image can also attract top talent as many employees look for companies with a good social responsibility track record.
- Offers opportunity to stand out among their peers Competition can be a good thing when it comes to donors making donations to your cause. If a potential donor sees a friend or co-worker being recognized on a plaque or press release, that potential donor could easily turn into an actual donor!
- It lasts Giving the donor a personalized keepsake or at another level, a name on a door, provides everlasting association with your cause and a positive reminder of your organization.
- Stimulates loyalty to your organization When donors are recognized by your organization, they are more likely to be loyal to you in the future. As a result of the recognition, they may donate more often or in larger amounts.