Donor retention is measured by the number of donors who continue to give to your organization during the year after their first contribution.
Retaining donors is the most cost-effective way to raise money , lithuania phone number but the average donor retention rate in the nonprofit sector hovers around 40%. There are many ways to improve your donor retention rate, such as including great content in your email communication, focusing on your daily engagement with supporters, and more. This is especially important because, according to Nonprofit Quarterly , it costs about 10 times more to acquire a new donor than to retain one.
In this article, we will discuss 6 donor retention strategies that you can use in your online fundraising strategy.
They are:
- Recurring Gifts
- Gratitude
- Success Stories
- Alternative ways to donate
- Peer-to-peer fundraising
- Data analysis
Improving donor retention doesn’t have to be a battle to the top! Let’s take a closer look at these strategies.
1. Offer recurring gift options
Part of increasing donor retention efforts should focus on making it convenient to donate over and over again. The easiest way to do this is through recurring giving. Recurring giving gives donors the opportunity to make their donations regularly.
Building a recurring giving program takes some planning and marketing, special lead but one easy way to encourage recurring gifts is to simply include recurring options on your donation form. By using nonprofit software that lets you offer recurring gift options on your donation form, you can:
- Offer donors a variety of billing frequency options. Let donors choose whether they want their donation to be made monthly, marc hand chief executive officer annually, or otherwise.
- Send personalized receipts. Personalize your email receipts with your donor’s name and the amount they donated, along with other information. Include a special thank you note that specifically mentions the donor’s recurring gift and how it will have a significant impact.
- Create Donor Account. Donor accounts allow donors to upload their payment information once, track recurring donations, and make changes to their preferences and information.
By offering a recurring gift option, lithuania phone number your donors won’t have to try to remember to donate to you. They can easily track their donations, and you’ll have a better chance of retaining them long-term. Ease and convenience go a long way!
2. Show appreciation
Donors want to be appreciated for their gifts and know they are making an impact. If you want to retain donors, it is important to show them the impact they are making with their donation before you ask for another. Thanking donors and showing them the difference they make go hand in hand!
There are several ways to thank donors, including:
- Email. Send your donors a personalized email as soon as possible after they donate. Thank them by name, mention the gift directly, and describe the impact it will have.
- A handwritten letter. A handwritten thank-you letter goes a long way with donors, especially for larger gifts. You should personalize it with the same information you would use in an email, but you can also include a personal note, a signature from a key member of your nonprofit, and other personalized touches.
- social media . While this is no substitute for emails or letters, giving your supporters a shout out on social media can make an impact! Your supporters will be publicly recognized and feel proud of their donation.
- Donor Recognition Wall. A donor recognition wall displays the names of all the donors who have participated in a specific campaign or the top donors for those campaigns. These are usually installed after larger campaigns and you can learn more about them with Double Your Donation Guide .
Making your donors feel appreciated and letting them know how their gift will make a difference encourages them to stay engaged with you in the future. Be sure to acknowledge them immediately after they make a gift and continue to engage with them after the fact.