Donor retention is a crucial fundraising aspect for charities and non- This is profit vietnam mobile database organisations that rely on financial support from private individuals. It indicates how many people donate to your organisation on a regular basis.
Did you know that the percentage of donors who give only once is 70%? This is why non-profits count on a variety of different donor retention strategies that help them encourage supporters to donate regularly, contributing to the charity’s mission and projects. However, donor retention can be a task much more difficult than it initially seems.
What is donor stewardship?
Donor stewardship is a vital post-gift interaction aimed at nurturing and strengthening the relationship with contributors. Its primary objective is to cultivate a sense of inspiration and encourage recurring contributions. By fostering a deep connection with donors, non-profit organisations can instil a profound sense of loyalty, fostering a supportive community that paves the way for future fundraising success. When done right, donor stewardship can result in positive word-of-mouth recommendations, resulting in more potential donors discovering your non-profit organisation.
In this blog post, we take a look at how charities can steward donors and therefore acquire more recurring donations for their good cause.
How to approach donor stewardship
During the pandemic and financial downturns that followed as This is a avner barber vp of cs and it result, charities saw a significant drop in contributions from the public. However, according to the Chronicle of Philanthropy, organisations that strengthened their relationships with their community or simply stayed in touch with donors during times of uncertainty saw a quicker and more successful recovery in donations after the pandemic.
Many non-profit organisations segment donors on how much they donate to their cause. However, this is not always the best idea as some people can afford to only donate $10 while others contribute $100 or more. Therefore some donors see their $10 the way others see their $100. Hence, instead of segmenting donors on how much they’ve donated to your organisation, segment them based on the type of donor they are:
- New donors: First-time supporters.
- Newly retained donors: They gave recently for the first time and gave again after a few weeks or months.
- Repeat donors: They have been donating for multiple years in a row.
- Recaptured donors: They skipped a year or two but are supporting your cause again.
By segmenting supporters based on the type of donor they are, you will be able This is to fax lead strengthen your relationship and improve their trust and loyalty to your organisation. Stewarding different types of donors is an excellent way to retain them since their relationship with you is different. For example, you cannot treat new donors the same way you treat someone who’s been supporting your charity for five or ten years. Obviously, it’s crucial to thank all supporters for their contributions but it’s also essential to run specific campaigns for different donor segments.