Nurturing New Donor RelationshipsOct 16, 2017
How to Retain New Donors and Increase Their Giving
Here’s a couple of startling statistics about retention rates from a recent report by The Fundraising Effectiveness Project, which analyzes giving at more than 10,000 nonprofits each year. On average, it reports:
· 19% Of First Time Donors Are Retained.
· 63% Of Repeat Donors Are Retained.
So if you have someone who has given to your organization a couple of times in the past, there’s almost 2-to-1 odds they will contribute again in the future. However, your newbies, your 1st time donors, those folks whose names you were so excited to add to your roster – well, they are likely to lapse 81% of the time. One and done.
How are you supposed to sustain and build your organization if you can’t retain new donors?
The answer of course is to not lose any momentum. You need to nurture your new recruits with some smart marketing post haste.
But you also need to be sensitive to how your new donor came to your organization. Were they invited to one of your events? Did they donate online out of the blue? Were they answering the call of someone creating a Facebook donation drive on your behalf?
Your initial messages to these new donors need to reflect those circumstances. They should be crafted to further introduce new supporters to your cause and keep them informed so that they are motivated to donate again.
Once you’ve moved them from first-time to multiple donor, the likelihood that you will be able to retain them for future contributions goes up dramatically.
Need help on this vital mission? I’ve created a New Donor Messaging Guide to help make it easy for you to put this important donor retention marketing practice into motion.
It includes a few of my best communication templates that are the most important to send to new donors. You can easily model and swipe these strategic communication samples with just a few tweaks to fit your organizations profile.
This is a total bottom-line issue. Think about what it costs to acquire a new donor. If you’ve never done this exercise before, try it now: Add up all the cost of appeals and marketing over a given time period (including salaries), then divide it by the number of new donors you acquired in that time.
Wow, each donor cost a lot, huh? You don’t want any of that effort to be wasted and, honestly, many nonprofits miss the mark here.
But not you, not anymore!
Download my special guide and start reaching out to ensure that your new donors become lifelong friends of your organization and increase their giving year over year.
Wishing you all the best!