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Building the Future of Philanthropy
The Psychology of Giving: A Journey Inside the Mind of your Donor
May 6, 2015 Kingston, Ontario
Leah Eustace, M.Phil., CFRE, ACFRE
Scott Fortnum, MA, CFRE, ACFRE
@LeahEustace@SFortnum
Building the Future of Philanthropy
be·hav·ior·al ec·o·nom·icsnouna method of economic analysis that applies psychological insights into human behavior to explain economic decision-making. (wikipedia)
@LeahEustace@SFortnum
Building the Future of Philanthropy@LeahEustace@SFortnum
Building the Future of Philanthropy
What are we going to talk about?
• How we make decisions – System 1 and 2– How we feel emotion
• Reciprocity• Social Proof/Consensus• Anchoring• Authority
@LeahEustace@SFortnum
Building the Future of Philanthropy@LeahEustace@SFortnum
Building the Future of Philanthropy@LeahEustace@SFortnum
Building the Future of Philanthropy@LeahEustace@SFortnum
Building the Future of Philanthropy@LeahEustace@SFortnum
Empathy is the ability to see the world as another person, to share and understand another person’s feelings, needs, concerns and/or emotional state.
(source: http://www.skillsyouneed.com/)
Feeling Emotion
Building the Future of Philanthropy@LeahEustace@SFortnum
Feeling Emotion
Building the Future of Philanthropy@LeahEustace@SFortnum
Feeling Emotion
Building the Future of Philanthropy@LeahEustace@SFortnum
Building the Future of Philanthropy@LeahEustace@SFortnum
Building the Future of Philanthropy@LeahEustace@SFortnum
Building the Future of Philanthropy@LeahEustace@SFortnum
Building the Future of Philanthropy@LeahEustace@SFortnum
Authority
Building the Future of Philanthropy@LeahEustace@SFortnum
Building the Future of Philanthropy@LeahEustace@SFortnum
Social Proof
Building the Future of Philanthropy
The anchoring rule of thumb describes the common human tendency to rely too heavily on the first piece of information offered (the “anchor”) when making decisions. Once the anchor is set, decisions are then made by adjusting around the initial anchor, regardless of the legitimacy of the actual anchor.
(source: http://disenthrall.co/)
@LeahEustace@SFortnum
Anchoring
Building the Future of Philanthropy@LeahEustace@SFortnum
Anchoring
Building the Future of Philanthropy@LeahEustace@SFortnum
Anchoring
Building the Future of Philanthropy@LeahEustace@SFortnum
So, why aren’t fundraisers applying more of the behavioral economics findings? Because, they too, and not only their donors, are using System 1.
They (not us of course), operate on autopilot (System 1). They do what is familiar, recognizable, likeable, what has worked in the past, what’s lower risk, what others are doing. It’s hard to step back and operate on pilot (System 2), especially if you are smart and successful.
Thoughts
Omar Mahmoud, Chief Market Knowledge - UNICEF International
Building the Future of Philanthropy
Leah Eustace, M.Phil., CFRE,ACFRE
Scott Fortnum, MA, CFRE, ACFRE
@LeahEustace@SFortnum
Say hello. Happy to chat!
