It’s not just that it’s cheaper to retain a donor than to acquire a new one. That’s true, but there are some other reasons as well. Jay Love, legendary co-founder of Bloomerang noted in a blog that most major gifts come after a donor has been giving to an organization for five years. And even if your repeat donor’s gift is modest, you need to think about the lifetime impact this person could have; those small annual gifts surely do add up.
So how do you keep a new donor once you’ve got them? My Marketer on a Mission this week, Jarrett Ransom of The Rayvan Group, has five key steps to cultivate your new online donors and transform them into long-term supporters who will sustain your organization year in and year out.
Jarrett is very familiar with the behavior of donors and how nonprofits can motivate them to keep giving; she’s a self-professed “nonprofit nerd” and The Rayvan Group has helped nonprofits generate millions of dollars in donations.
So take a listen - and maybe take some notes. Getting a new donor is an achievement worth celebrating; but after you’ve popped the cork, it’s time to work on this new relationship. Jarrett tells you how.
PS - If you’re ready to step up your retention, but need some guidance on a strategy and messaging, scroll down below and check out my New Donor Messaging Guide.
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