I’m going to piggyback on last week’s three item checklist for donor retention, with five more quick & easy tips to help retain your current donors.
1. Share what you need the money for. How many of your current donors & volunteers clearly understand what it is you are raising money for? Do you share the cost of your programs for one week for one child or one adult? A donor recently told me, “If the organizations I support were not just saying they need money, but were telling me why and what impact that money will have, I may give even more.”
2. Personally contact as many multiple-year donors each year as possible. Allow board members and community volunteers to help you. Contacts can be thank you calls, invitation calls, or simply a “getting to know more about you” call or meeting.
3. Meaningful acknowledgement can have a huge impact. That means timely, meaningful, personalized, thank you letters or calls. I’ve watched donors make a 2nd gift immediately because they were so inspired by the call and note they received for their first gift!
4. Event invitations should say more than “Join us!” Give guests a compelling reason to attend. Remind them of the need in your community. A great example of compelling copy on an invitation: One in three homeless men in Cleveland is a veteran. We think ONE is too many.
5. At events be sure to share about any funding gap you have along with a compelling story about how amazing your programs are. If you only show all the “good work” and positive outcomes donors don’t see a place for themselves.
Regular compelling communication ALL YEAR LONG that humanizes your impact will have huge value in both retaining and generating new donors.
Even a small increase in your donor retention can generate greater dollars raised over time. Adrian Sargeant, Ph.D., from the Indiana University’s Center on Philanthropy says:
“A 10% increase in donor retention can increase the lifetime value of the donor database up to 200%. When people stick around they do things like upgrade their gifts, [give more often], contribute to galas and even volunteer.”
This is the time of year when a little extra attention may make the difference between a contribution or none. Go ahead: Take the time to personally connect with your current donors and prospects, today.
