SG Support Profile in South Korea
South Korea is currently SG Support's second largest market after Malaysia since its launch in July 2014.
PMK Bldg. 1st Floor, Nonhyun-ro 419, Gangnam-Gu, Seoul, Korea (06246)
The trend of new donors closely followed the number of COVID-19 cases reported in Korea (more so than any other market SG Support operates in). As high reported figures saw the removal of Face-to-Face acquisition activities, limited new donor numbers followed. These Face-to-Face acquisition activities are quick to pick back up as COVID-19 cases dropped, thanks to the dedication of recruitment channels in ensuring new donor volumes.
SG Support's non-profit partners in Korea have benefitted from knowing that their Approval Rates are steady in the face of the pandemic, and that donors are continuing to contribute to the causes they care about.
2020
Highlights
- Strengthened data-decision making with greater partnerships with Face-to-Face agencies in Korea (e.g. using data to drive higher average gifts in moving donation asks from KRW20,000 to KRW 30,000).
- Strengthened relationship with our non-profit partners as we faced the pandemic together.
- Non-profit partners were fast to switch to alternative acquisition channels to support donor volumes from Face-to-Face agencies.
Challenges
- Impact of COVID-19 on Face-to-Face acquisition, causing an issue with the growth of donor base for the long term.
- Restricted budgets for non-profits limited the ability to benefit from the resilience of the Regular Give model.
Growth over the years
Active Base
Number of donors actively contributing gifts as of Year-End
Net Growth
Donor base growth from the Start of the Year to Year-End
Approval Rate by First Debit
Percentage of donors successfully transacted on their first debit
Approval Rate by Anniversary
Percentage of donors successfully transacted on their second debit and onwards
Donations Processed
(KRW)
Total donations generated for non-profit partners in KRW
(USD)
Total donations generated for non-profit partners in USD
2020 in Numbers
94%
Donor Ratio
Percentage of Donors Cancelled over New Donors acquired
KRW 24,379
USD 22
Average Gift KRW / USD
Average monthly contribution (gift) per donor
27 months
Average Lifespan
Average number of months a donor will give to a cause they love
KRW 538,878
USD 491
Lifetime Value (LTV) KRW / USD
Estimated total contribution of a donor to their chosen cause
2021
Outlook
Moving into 2021, non-profits in Korea should look into optimising resources allocated to both Acquisition and Retention activities. These can take the form of (but not limited to):
- Using existing data to inform on the best acquisition sites (e.g. an overlay of your location data to retention data to see where your highest value donors are).
- Further finetuning of retention practices to minimise leakages (marginal gains).
- Active building of alternative fundraising channels that do not rely on Face-to-Face agencies, allowing for quick shifts in resources to follow the trend of COVID-19 reported cases.
- Exploring ways to extend the contributions of lapsed donors through reactivation.
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Who is SG Support?
SG Support exists to make fundraising easy for charities by working in partnership to acquire new donors, retain existing ones and win back those who have left. We do this through our complete suite of services that range from providing data-driven strategies, consultancy and ensuring the smooth running of the operational aspects of payment processing, contact centre and financial reporting.
Since our establishment in 2002, we have grown to become the world’s largest fundraising agency working with 70 charities in more than 14 countries, managing over 3 million donors.
