We all make New Year's resolutions. We all want to kick-start the year with a hope to do better than the year just gone by. Nonprofits are no different. Every year, they make new strategies to retain their donors.
During the Christmas holidays, nonprofits receive numerous donations and gifts from both new as well as recurring donors. They reach out to all those new donors and existing ones in January in order to build a relationship with them. January marks a new beginning and with this mindset, nonprofits consider it to be the most crucial time for donor retention.
Why You Must Hold on to Your Donors
Every nonprofit must keep track of its donor retention rate. Think about it—if a donor is engaged with your nonprofit for the last few years, they understand your organization’s needs and goals. Also, as they know your organization for a couple of years, they might become a part of your membership program. You must hold onto such donors; it’ll benefit your organization in the long run. Also, your donors’ contributions will help you boost your nonprofit’s revenue.
Nonprofits have started to realize that the struggle in acquiring new donors is much more than keeping the existing donors. That’s why donor retention is so crucial.
You might have already implemented different strategies to retain your donors, but there are always ways you can advance your current strategies to boost your donor retention rate.
Luckily, there are numerous ways you can lay the groundwork for retaining your donors and below are some of them. Let’s dig into the donor retention strategies that can help your organization in building a dependable donor community!
Appreciate Your Donors
No matter how small the donation, you must thank your donors. Donations are not always monetary; make sure you appreciate the volunteers who contribute their time and energy in your fundraising campaigns.
Also, you should reach out to your donors and let them know about the impact their gifts made. As you step into the New Year, January is the best time to follow up with all your donors who supported your campaigns last year. Consider January as an opportunity to express your gratitude to each one of your donors.
Let your creative juices flow in sending a ‘thank you’ note, it’ll make your donor feel special and encourage them to donate again.
Build Engaging Content
With the start of January, most of the nonprofits talk about their milestones achieved last year and produce their annual reports. It is a great time to get in touch with your donors and exchange views on the work you have done last year.
You can show your work by creating donor-centric content. Don’t forget to include attractive graphics, gripping stories, and your roadmap for the upcoming year. If your content is engaging, chances are high that your donors will come back to you.
Take Advantage of Social Media
Make sure you have social media presence and your donors are aware of it. When your donors follow you on Instagram, Facebook, or Twitter, they see your content online. No matter how often you post, you can’t deny the power of social media.
You need to use social media platforms in a way that can help you achieve your goals. Make sure whatever you post reaches the right audience at the right time in the right way. You need not be present on every platform. Even if you choose just one, make sure you take advantage of it.
Make sure your donors—first-timers or recurring donors—become a part of your online activities. This will help you in keeping your donors interested in making donations to your organization.
Let Your Donors Talk
As a nonprofit you chalk out multiple strategies to stay connected with your donors, but do you make plans that let your donors talk back?
Give your donors an opportunity to speak to you. This way they can put forward their ideas or suggestions and voice their concerns about your nonprofit. Not only will this make them an integral part of your organization, but you may also want to implement the ideas suggested by them.
When you let donors talk, they become more involved in your nonprofit and want to contribute in different ways other than just donation. The key point is—they want to be heard and you must listen to them.
Share Your Calendar
What are your plans for this year? Do you have any upcoming events, new campaigns, or exciting contests? Let your donors know about them.
For any organization, its foundation day is significant. You can call your supporters in a fundraising campaign to celebrate your nonprofit’s business anniversary and make donations.
You can conduct a blood donation camp or any campaign for a cause. Events like these are highly marketable for nonprofits to connect with their donors. When you’re geared up with a fully ready calendar like this, your donors can mark different events in their own calendars and share them within their networks.
It’s difficult to acquire new donors, so don’t let your existing ones kick the bucket. Appreciate your donors’ time and effort, let them know you care for them, and engage well with them in order to establish long-term relationships. No matter what strategies you adopt, your ultimate goal should be to retain your donors.