Donors are the backbone of nonprofits. Without their generous and consistent support, organizations would not be able to thrive and accomplish their intended missions.
There are countless ways to attract donors who are looking for meaningful missions to support; the goal is to get them to stay long-term. Did you know that, on average, nonprofits lose more donors each year than they gain? Despite these stats, there are ways to keep donors’ interest and loyalty.
Here are some best practices on how to retain donors:
Provide regularly-scheduled updates on the organization’s progress
Donors need to see that their money is being put to good use, in order to be motivated to donate more. Make them feel like they are an extension of your organization. Send emails that are addressed specifically to your donors showing all the amazing things you’ve been doing with their money, and do this often!
Consider using donor management software
There are many membership management apps available. Although nonprofit managers tend to use an Excel spreadsheet, there are more efficient, tech-forward solutions. There are also apps geared specifically toward nonprofits, like Neon CRM, which has everything you need to build lasting relationships with your donors.
Don’t be afraid to ask for more donations
On average, donor retention is 23% after the first donation and 60% after the second donation. The more a donor gives, the more engaged in the company’s mission they feel. Don’t wait too long after receiving the first donation, to ask for a second. It is said that once you get past the second donation, it’s smooth sailing from there. After receiving the first donation, show donors how their money is being used, then ask for a second donation in two to three months.
Ask for feedback
Another key thing to consider when figuring out retention is to make your donors’ voices heard. Ask for their feedback on a decision your company will be making. Ask them their thoughts on a new product or service you are thinking about offering. Make them feel like they are involved with the latest happenings of your nonprofit. When they feel that their input is being considered, they will be more likely to continue contributing.
The key to retaining donors is consistent communication and ensuring that donors are treated as valued contributors to your nonprofit. We hope these tips are helpful in attracting and retaining lifelong donors for your nonprofit!