Every nonprofit understands that the cost of finding new donors is less than retaining the old ones. That’s why donor retention is so important.
Every organization probably has some strategies implemented to retain its donors, but there are always ways you can improve or add to your existing plan of action.
Here are some of the best donor retention strategies for nonprofits.
Make Your Donor’s first Experience a Good One
Great emphasis is laid on first impressions – this applies to nonprofits as well. The donor’s first experience with the donation process can have a great impact on whether or not they’ll want to donate again. Make sure the process is easy and optimized.
Keep donation forms short and ask for only the essentials to shorten the time donors spend in donating. If the process is quick, donors are more likely to donate again. Offer multiple channels so that donors can donate through whichever means are convenient to them. You should also make sure donors don’t have to set up any accounts because that becomes an additional step and makes the process more tedious.
Create a Donor Membership Program
If you don’t already have one, a membership program is a great accessory to your nonprofit for retaining donors.
A membership program can offer incentives or perks in return for your donor’s contributions. These incentives depend upon the nature of your organization and the donors. You could ask them what they’d like to receive if they become members.
Not only does this boost motivation to donate more, but it can also make donors truly invested in your organization’s mission.
Host Donor Stewardship Events
To acknowledge donors for their support, you can host events as a thank you. Events also have the benefit of bringing all your nonprofits loyal supporters together, giving you the chance to interact with them in person to get to know them better.
Some examples of events you can host are dinners with progress reports about how ongoing projects are doing. Events can also be an incentive to join your monthly programs.
Getting your donors to volunteer brings them closer to the organization by letting them interact firsthand with your activities and see how they’re doing. By getting your donors to use their skills for society’s benefit, you can eliminate the distance that comes with donating monetarily, and they will also have fun.
If the donor develops a bond during this process, they are more likely to stick around because they will feel like they’re more personally a part of your organization.
Sharing results is something a lot of people overlook when running a nonprofit. Donors want to know how their contributions were helpful and what difference they made by making them. However, statistics and numbers don’t make the impact a story can.
By turning those facts into a narrative account – perhaps the story of one of the donees your organization helped, with their permission – you can make these results more personal and inspire donors to return. Keep in mind that the focus should be on the fact that your accomplishments were made possible by the donor’s contributions.
Getting donors to stay invested in your organization comes from giving them unique experiences. You will have to get creative and keep all your interactions with your donors enjoyable.