We’ve heard it said time and time again – it’s more beneficial for nonprofits to retain existing donors than to try and acquire new ones. A one-time donation is something to be thankful for, but it’s vital that nonprofits can rely on donors who give regularly over longer periods of time.
Qualifying and prioritizing donors may seem unfair, but it’s extremely important that fundraisers focus their greatest efforts on the most qualified donors, those with the most heart for your cause, as well as those with the financial capacity to donate more.
Additionally, making donors feel like they are so much more than a cash cow but a part of your organization is important to keep them coming back and donating campaign after campaign, and year after year. According to ResultsPlus regional sales manager, “It’s vital that fundraisers keep in mind that donors are more than just sources of monetary contributions, but valuable assets to your team and imperative to the success of your fundraising efforts.”
Building and utilizing a database has also been found to improve donor retention. Having one place that stores all of the pertinent donor information and is accessible by all fundraisers helps make sure your staff is all on the same page and all of your donor data is accurate.
Overall, nonprofit software has proven to be extremely beneficial in retaining donors and nonprofit experts all agree that steps need to be taken to assure that donor retention is a priority.
According to Andrew Friedenthal, content analyst for Software Advice:
“In this article, we wanted to provide our readers who work for nonprofits with tips on how to attain a higher rate of donor retention, something that is crucial for them if they want to continue operating successfully. In order to do this, we needed to talk with experts from across the nonprofit field to learn about the best practices for donor retention. Mark, as an expert in nonprofit CRM software, was one of the perfect people to talk to. He pointed out something that is extremely important for nonprofits to realize—that they need to treat their donors as people, and not just as sources of income. A CRM is only useful if it's used by an organization that's actually connecting with its constituents, after all. This insight provides a framework around which to shape a major section of the article, and ended up being one of the main takeaways for our readers!”
What is your organization doing to improve donor retention? Share in the comments below!