Strategies That Increase Donor Retention
For nonprofits, the key to success is within their donors. Not just their donations are important, but also their personal involvement with the cause. Donor retention is critical because strong relationships will be the backbone for the future of a nonprofit.
Develop Strong Promotional Efforts
Currently, it’s important for every nonprofit to allocate efforts into maintaining contact with their current and past donors. Having a solid CRM and email automation system is one step towards this. Another way is to develop a social media strategy where donors can spread the word about your nonprofit. Word of mouth marketing is going out of style but if donors believe in your cause they will share the efforts of your cause on their social media.
Request Donor Feedback
Donors come back when they feel comfortable with your nonprofit and support its mission. Once the trust is built with them they likely will share feedback with your organization. There are many important aspects of donor feedback. First, it allows nonprofits to improve efforts and insights on the donor perception of their nonprofit. Feedback can also include the donor perception of donation asking amounts. Lastly, you can ask them if they feel like they’re part of a larger community or ways you can improve this.
Treat Your Donors Well!
It seems like a simple idea, but it can make all the difference for nonprofits. The first step as mentioned is proper communication. It’s important to reach out to donors informing them of upcoming events and potential volunteer opportunities, and other exciting news they can learn about. It’s important to not only contact donors when you want them to give money. This way every time you reach out they will know it could be about anything, not just giving money. Reaching out to donors about community events or volunteering opportunities is much more valuable in the long run than harassing them to give money.
Formulate a Retention Plan
A donor retention plan should be defined to be successful. There are 3 things every nonprofit should consider; What information is sent to donors? What occurs after a donation is made? What is the important information needed from donors? These are all important questions that can streamline the donor retention process. Planning the necessary steps is important for every donor that participates in your nonprofit. Establishing a formulated approach is the first step towards successful donor retention.
If your nonprofit is seeking an easy management solution to track donors, contact us today at Rhino Nonprofit or schedule a demo to see it in action.