It’s fact: Repeat donors have higher retention rates. Donors who make a second gift are more likely to continue giving.
Donor retention is the name of the game. Treating your donors well is the way you win.
Here at Charity Fundraising, we want to give you the Helpful T.I.P. for treating donors well:
Say Thank you.
Why should we be surprised, though? The main things are generally the plain things and the plain things are usually the main things. Still, some organizations still miss the boat on this one. Studies have shown that 13 percent of donors stopped giving to an organization because they weren’t thanked.
Yes, we all know that supporters should immediately receive an automated thank you and receipt for donating. But thanking a donor is not a cold and automated process. No one feels thanked by an automated email saying “Thank you, [Insert Name Here].” Remember, donors are apart of your team and they want to know they are appreciated.
Donors not only want to be appreciated, they want to know they are helping! Following up with more detailed communication about their donation’s impact on your organization’s efforts is imperative. Let them know what campaign they gave to and what their gift will be used for. Communicating direct results show your donors a) You are being active and a good steward of their gift and b) You acknowledge the huge role they play in your organization.
Non-profits should wait at least 6 to 7 months before asking for a second gift.
WAIT! STOP! This does NOT mean you drop contact with your donors for six months until it’s time to ask for more money. Your donors are not vending machines that spit out cash.
The six months in-between asks is the precious time you have to build a deeper and more committed relationship with your retained donors through updating, communicating, and asking them to participate in your mission in other ways than through cash.
Your goal is to keep the donor interested and involved with your work. Asking for another gift is the easy part – the work comes in the six months in-between asks when you engage and steward your donor relationships. However, keep in mind the more you put into the six months, the easier and more beneficial your “asks” will be from each donor.