Saving until you are broke?

Premium

According to Norwegian digitial fundraising strategist Beate Sørum, it makes no sense not to invest in digital infrastructure – even in hard times.

 

Saving until you are brokeNorwegians have a saying: Saving until you are broke. This is what businesses do in hard times. They cut costs in research and development for short-term good when they should be doing the opposite. Not investing in research and development now means you won’t have anything to sell tomorrow. You save money until you make yourself broke from it. 

It is my firm belief that when it comes to digital infrastructure, many charities are, in fact, saving until they are broke. By looking at forms, payment solutions and websites as costs rather than investments, we are choosing the cheap options and effectively throwing money out the window. We dramatically overestimate how much hassle a donor is willing to go through to donate to our organisation and we dramatically underestimate how much money we are missing out on. Donors…

This is a premium content story for subscribers only. To access the full story please either login, subscribe, or take out a free trial.