Fundraisers often suggest gift amounts to help guide donor decision-making. A new study on this practice, known as anchoring, suggests that low anchors may drag down giving more than high ones bring it up. Charities must find a balance when suggesting donation amounts, says Minah Jung, an assistant professor of marketing at New York University and an author of the study.
Anchors should depend on the charity’s goals, Ms. Jung says. While high figures may provide the greatest immediate fundraising results, a low anchor may be useful for organizations that want to increase awareness and attract as many new donors as possible, she says.
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