Despite the mass appeal of making resolutions, the act is commonly met with skepticism and cynicism. Here at Maximizing Excellence, we see value in the process. Every December we take time to evaluate our personal, professional, and business goals for the year and set goals, or resolutions if you will, for the coming year. It not only sets a positive tone but also serves as a great opportunity for team building. We encourage you to do the same!
We also use this time to strategize for current and future clients. A primary theme that emerged in 2015 was donor retention. It is usually somewhere in the resource development plan but commonly gets pushed to the side, or worse, to the bottom. Many organizations spend the bulk of their time and energy on recruitment, new donors, and new dollars. This singular focus is a disservice to the work previously done to get those new donors. In fact, most sources say it costs 4 to 10 times more to acquire donors than to keep them.
Retention strategies need to bridge the gap between initial interest and sustained attention. By focusing on retention, you are building stewardship, the ultimate key to sustainability! Below are donor retention strategies to consider incorporating in 2016:
- Communicate impact via stories, pictures, infographics.
- Be present in your donor’s daily life i.e. have a masterful social media presence.
- Pay attention! To giving history, life changes, and preferences. Act Accordingly.
- Always follow-up. Acknowledge the receipt and significance of the donation.
- Always express gratitude. Say thank-you earnestly and regularly.