Financial circumstances change and you lose a donor. What do you do? Let him go; there’s more where he came from? Fight to get him back? Nothing?
Not all situations are cut-and-dry. We all know the marketing-101 adages, but sometimes a review is good to put them in context.
More than half of new donors leave after giving once and never return. Retention is always cheaper than acquisition. Most of the time, you’re going to want to go back to that same donor and try to win back his loyalty. You’ve already cultivated the relationship with him; you have a history. Whether he’s ticked off because of something you did or because of circumstances in his life, you want to keep that relationship going, even if it means he becomes a lapse-donor for a few years. Don’t burn bridges if you don’t have to.
Authentic content is what keeps donors engaged. It’s what makes them stick around. Get rid of the idea of business transactions and start thinking of donations as gifts, as steps in a relationship. If you think of it as a relationship with your donors, you’ll end up with better ideas than kitchy collateral and dry stories. Share your story with them. Make them feel valued. Their contribution matters, not just to you, but to those you represent.
Donors can get tired of always hearing requests for money. Gifts don’t always have to be monetary. Some donors want to feel valued by being a part of something and seeing tangible results. They’re interested in your cause—that’s why they donate.
We can help you build a community around your donors, keep them around, and keep your organization funded. Well-planned campaigns are essential to donor retention. We’ve got you covered.
For more information, check out Ziggy’s tour on Donor Retention!