3 Ways Donor Recognition Plaques Help to Raise Funds
If you're a charity, social enterprise, or another institution which relies on donations, you may be on the look out for ways to increase the amount of money your fundraising efforts make. One simple option to get more money into your facility is through donor recognition plaques—custom plaques engraved with multiple names to honour your top contributors. These plaques, which are usually made from wood or metal and come in a variety of shapes and sizes, aren't just an attractive way to brighten up your building. Hanging them in your halls, function rooms, or building exterior can also help your raise more money.
Alongside increasing funds raised, donor plaques can help you cut non-charitable spending so more of your fund pool is spent advancing your mission. Here are 3 reasons your charitable institution should start using donor recognition plaques today.
They Encourage Donors to Pledge More
Honouring every donor's name on a recognition plaque is understandably not feasible, giving how many people pledge small amounts of money. That's why many companies, charities and institutions instate a minimum donation requirement for recognition. Aside from saving you from lining every wall with plaques, this practice also encourages donors to pledge higher amounts. If, for example, everyone who donates over $1,000 gets their name on a plaque, those who were considering pledging $750 will be more inclined contribute a slightly larger sum to meet the threshold.
They Remind Visitors to Donate
One ironic aspect of sourcing donations is that companies often have to spend money getting the word out in order to receive funds. While methods like direct mail can be costly, recognition plaques are comparatively cheaper ways of reminding contributors to donate. Whenever someone visits your facility and their eyes are drawn to your plaque, they'll get a non-invasive reminder to pledge funds to your institution.
They're Cheaper Than Other Recognition Methods
Are you already using donor recognition tactics that you feel are too costly? Some charities choose to send bottles of wine or chocolates. Others spend large amounts of funds hosting recognition parties and ceremonies. Even relatively cheap methods like sending out regular thank you cards can become expensive when your number of donors mounts up. Alongside helping you increase the funds contributed to your facility, the affordability of donor recognition plaques will ensure more of that money is put to good use by reducing the amount you spend on recognition.