Top Strategies to Ensure Donor Retentions for Nonprofit Organizations
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Top Strategies to Ensure Donor Retentions for Nonprofit Organizations
- 1. 1 Nonprofit Webinar Series The next generation of communications. Top Strategies to Ensure Donor Retention for Nonprofit Organizations
- 2. Housekeeping: Attendee Participation To listen in: • Choose “Mic & Speakers” to use VoIP • Choose “Telephone” and dial using the information provided • Submit questions and comments via the Questions Panel • Polls will appear during the presentation, please answer accordingly • Survey to follow the conclusion of the presentation Note: Today’s presentation is being recorded and will be provided to you within a week. Your Participation
- 3. GoToWebinar Housekeeping: Time for Questions [Raise your hand to be heard!] • Please continue to submit your text questions and comments using the Questions Panel • Please raise your hand to be unmuted for verbal questions. For technical difficulties, please contact janine.germinario@univoip.com Your Participation
- 4. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations Speakers Introduction Why donor retention matters Tips for donor retention How to upgrade your donors Q&A Webinar Agenda UniVoIP welcomes you!
- 5. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations Hi, I’m Susan (@susanmpc1). Founder of McPherson Strategies Serial connector Host of #CSRchat Advisor to startups & nonprofits Proud dog mom
- 6. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations Source: The 2015 Fundraising Effectiveness Project & Bloomerang 57 percent of first-time donors don’t give again.
- 7. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations What’s your retention rate? Number of donors who gave in 2014 Number of 2014 donors who gave again in 2015
- 8. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations POLL #1: How strong do you feel your donor retention rate is? Join the conversation.
- 9. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations It matters. Source: Bloomerang
- 10. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations It’s easier & cheaper to retain donors than acquire new ones. “A 10% increase in donor retention can increase the lifetime value of your donor database by 200%.” -Adrian Sargeant
- 11. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations What’s your retention strategy? What nonprofits can do to keep donors coming back for more Donor Retention starts with building meaningful relationships A strong relationship with a donor will make it more likely for them to come back and donate again.
- 12. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations Give them a warm welcome. Quickly contact the donor to say “thank you” after they decide to donate. Be warm, personal and educate as well as inspire. Offer them opportunities to engage and promote dialogue.
- 13. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations POLL #2: How do you say “thank you” after a donor shows their support? Join the conversation.
- 14. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations Create regular touch points.
- 15. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations Emphasize monthly giving opportunities. Ask for reoccurring donations as a default on your website. Build in systems and programs that make regular giving easy. Monthly Giving Club – create a “tribe” or a “team”.
- 16. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations POLL #3: Do you currently have a “Monthly Giving Club?” Join the conversation.
- 17. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations Don’t just ask for money.
- 18. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations Get donor feedback. Create a survey and ask for feedback. Start up a donor advisory board. Put together a donor listening team. Take stock of what’s still not working.
- 19. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations POLL #4: How often do you request feedback from donors? Join the conversation.
- 20. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations Turn donors into fundraisers. Create Ambassadors for your organization. Empower hosts for fundraising events. Ask them to raise awareness. • Charity for a race • Birthday Fundraiser • Events to raise funds for your organization
- 21. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations Show them the impact of recent gifts.
- 22. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations POLL #5: Does your organization have donation packages identifying the level of impact the support will have? Join the conversation.
- 23. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations Demonstrate the need – and make the ask. Explain why your organization is seeking money. • Have things changed? • Bigger vision? • Close to your goal? • New project? Be direct when you ask your donors to upgrade. • Make your “ask” concrete
- 24. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations 24 Increase Donor Communications How to leverage technology to build meaningful relationships Keep supporters in the know. Integrate with Fundraising Software. Simplify with an Auto-Attendant. Promote mobility. Ensure all calls are routed appropriately.
- 25. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations POLL #5: Does your organization currently leverage the right tools to empower donor retention? Join the conversation.
- 26. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations Questions? [Raise your hand in the dashboard to ask] Please make sure that you have great audio so we can all hear you, or ask your question in the group chat. Thank you for participating! Susan McPherson susan@mcpstrategies.com @susanmcp1 Contact Susan! Webinar powered by
- 27. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations New Directions for Women improves their outreach to the community and is able to help more women in need. American Institute of Architects enhances their ability to fulfill their mission and cater to their community . Center for Restorative Justice promotes mobility and allows employees to be in the field more and less behind the desk. More Success Stories at univoip.org/resources How Other Nonprofits Are Doing It How to leverage technology to build meaningful relationships
- 28. I Top Strategies to Ensure Donor Retention for Nonprofit Organizations 28 Nonprofit Resources : Exclusive Access Helping Nonprofits in Pursuit of the Greater Good Cloud-based VoIP Phone Donation Application Form. Fundraising event sponsorship request form. Free white papers & market research. Top industry solutions and strategies helping organizations achieve excellence. Customer success stories. Info Request Call: 424.291.3265 Visit: UniVoIP.org
Editor's Notes
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- According to The 2015 Fundraising Effectiveness Project, the median donor retention rate among nonprofits is 43 percent. In other words, only 43 percent of 2013 donors made repeat gifts to participating nonprofits in 2014. In other words, 57 percent percent of first-time donors won’t give again. Think about that. You spend all this time and energy getting people to notice you, care about your non profit and write a check. But almost 60 percent of those people that you work so hard to acquire won’t give again. This means you’re often left with a loss on your initial investment to gain that new donor. As Dr. Adrian Sargeant from Indiana University put it – “…we’re caught on this treadmill where we have to spend lots of money on acquisition which most nonprofits lose money on anyway, just to stand still.”
- Do you know your donor retention rate is? The first step is awareness; many nonprofits don’t even know what these numbers are so they don’t if this is an area that needs improvement. When you go back to work today, here’s the formula you can use to discover your retention rate if you don’t know it already. To calculate your donor retention rate, first ascertain the number of donors who gave to your organization in one 12-month timespan, and the number of donors from that same pool who made a donation in year two (the following year). Then, divide year two by year one.
- It’s easy to focus on getting new donors and forget all about the importance of retention. But if your retention rate is low, that will have a significant impact on your donor numbers year over year. Let’s say only 40 percent of your 1,000 donors from last year give this year. That brings you to 600 donors for 2016. But in three years, that number will dwindle to 216 – and then to just 78 of your initial 1,000 five years down the road. That’s a big loss – and a big missed opportunity for keeping your donor base active and engaged.
- It’s true of almost any business. Have you been to CVS or Walgreens recently, and gotten a receipt with dozens of coupons attached? You know, coupons that will be eligible the next time you come to the store. It’s because CVS’s job is obviously not only to get you in the door – it’s to keep you coming back the next time you need to restock on toothpaste, shampoo or what have you. If you’ve shopped at CVS already, there’s a very good chance that you’ll return again the next time – especially if you have coupons to motivate you. The same is true when you think about your donors. People who have given once already know who you are. They have already bought into your mission and are aware of what you’re trying to accomplish. They’ve been moved to donate. These people are so much more likely to come back to your nonprofit to donate again compared to someone who’s never heard of you or donated before. In addition to inspiring people to give again, you also want to think about how you can upgrade your existing donors – inspire them to give more. That’s an even more powerful way to make the most of your donor pool.
- We know how companies keep their customers coming back – sales, coupons, special offers, email campaigns and all the stuff you’re probably used to seeing from your favorite brands, stores and restaurants. So what can nonprofits do to keep donors coming back for more? It starts with relationships. When I think about what “donor retention” means, it all comes back to building meaningful relationships. If your relationships with your donors are strong, they will be much more likely to think of you and donate. Let’s talk about some tips for building those relationships and improving your retention rates.
- After someone decides to donate, make sure you get in contact with them to say thank you – quickly. This can be as simple as an email, or if you want to go further a thank you note hand written, a personal call or even a welcome package. Whatever format you choose, the welcome should be warm/personal, and educate as well as inspire people about your organization. Your welcome package should give the new donors a high-level “look around”. Volunteer opportunities, giving clubs, monthly giving programs, upcoming events, opportunity to sign-up for the email blasts, etc. Introduce your team and your programs. All of these are ways to engage and promote a dialogue with the donor. Incentivize the new donor to check out your website if they joined through the mail.
- Your donors won’t give again if they don’t remember you. You have to create multiple communications touchpoints – at least monthly, share an email newsletter, if not more frequently. Post regularly on your social media channels. Plan at least four campaigns throughout the year to give donors a greater sense of urgency and inspire them to get excited about your organization again. Focus on telling stories/sharing impact – create videos, share photos, etc. Example: She’s the First
- Build in systems and programs that make regular giving easy. 1: When someone donates online, ask if they’d like to make it a recurring donation. You can even think about making this the default “donate” ask on your homepage. (Example: Charity:Water) 2: Monthly giving club. This is another option – create a “tribe” or a “team” or a “club” – some sort of monthly community that builds affinity for your organization and asks for an ongoing monthly donation. Creating a club of insiders who give every month lets people feel like they’re supporting you on an ongoing basis and that they’re truly part of the organization. Be sure to communicate regularly with these people to make sure you’re telling them about the impact they’re creating.
- Donors give when they feel moved, engaged and connected to a cause. That means you can’t go back to them every time asking them for money. Switch up your asks. Maybe you want them to share content on social media. Maybe there’s an opportunity to host a fundraiser or attend an event. Maybe there’s a volunteer opportunity. Maybe you just want to reach out to say “thanks”. (Example: Bpeace)
- Create surveys, ask for feedback – got your donor’s opinion about your organization and its communications whenever possible! Start up a donor advisory board of people willing to answer a few questions each month. Put together an all-org donor listening team Execute a system to log, share and analyze donor insights throughout your organization Course-correct at a moment’s notice—agility in adjusting your fundraising approach to what’s vital to your donors RIGHT NOW is a must Take stock of what’s still not working with your donor retention program and ask the donor advisory board how to do better!
- If you don’t want to ask donors to give multiple times, figure out how you can ask them to be ambassadors for your organization and empower them to host fundraising events – whether it’s choosing your organization as their charity for a race, doing a birthday fundraiser or hosting an event designed to raise awareness and funds for your organization. (Share examples of Girl Rising here or your birthday fundraiser)
- Now, let’s shift gears and talk specifically about how you can focus on UPGRADING current donors. Example here is from The Adventure Project – focus on showing donor the impact she or he has helped create – then create the connection to the next level. Show the Positive Outcomes from the Most Recent Gift or Current Pledge: Explain to your donor all of the great things you have been able to do with their money – all of the people that are being helped, all the good that is being done in the world as a result of their gift. Alternately, if you are asking the donor to upgrade a pledge, show them all of the wonderful things that your will be able to do as they pay off their commitment.
- If you’re going to ask donors to upgrade, you have to explain why your organization is seeking more money. Have things changed? Has your vision gotten bigger? Are you extremely close to your goal, and asking current donors for more support to end your campaign? Are you launching a new project or trying to serve more clients? You’re going to be asking this donor, who has already given you money, for a larger gift. Explain to him or her why you need more. Then, you have to be direct about asking your donor to upgrade. Make your ask. Your ask should be concrete (for a specific amount) and an actual question. Don’t make a statement like “we could really use more support,” and don’t ask for a wishy-washy amount (asking for “as much more as you can give” is not an effective way to upgrade). Instead, ask something like, “Would you be able to increase your pledge from $25,000 to $50,000 over the next five years?” You have to be direct.
- Keep supporters in the know – mass messaging Integrate with Fundraising Software – Simplify Communications with an Auto-Attendant Promote mobility: Mobile twinning to ensure that even when away from the desk, nonprofits don’t miss an opportunity to gain a donation Ensure all calls are routed appropriately - Call routing to ensure callers reach the appropriate person to offer a donation
- We’ve talked about tips and tricks for retention and upgrading donors. It really all comes down to the relationships. Now, let’s talk about questions you have and your ideas for retaining donors!
- Address Case Studies – and testimonials