Donor Retention is extremely important. Hopefully your organization is working hard to keep more of your current donors, or at least starting to discuss and develop a strategy for to do so. Unfortunately, donor retention is not easy. There is no donor retention button that can easily be pushed to magically allow you to keep more of your donors. Sorry, it doesn’t exist!
As I get to talk with dozens of organizations, I communicate that a small 10% increase in retention rates can lead to thousands of dollars a year in addition fundraising! A humane society I talked with had 3000 current donors at an average gift of $100. An increase in retention rates of 10% would allow that organization to raise an additional $30,000 in the first year alone! A smaller museum organization has 400 active donors with an average gift of $75. A 10% increase in retention to this organization would mean an additional $3,000 in the current year! Wow!
I wish it were as easy as pushing a button! But, with a tool like Bloomerang, a 10% increase in donor retention is doable! Here’s how:
- Instantly knowing your current retention rate right when you log in! This alone will keep the importance of donor retention at the forefront.
- Best practices based on Dr. Adrian Sargeant’s work help guide and coach you to build stronger relationships that will build donor loyalty!
- Donor engagement ranking allows you to focus on those donors that are highly engaged to your mission in order to ask them to give for the first time, upgrade their giving, or work toward that major gift!
- Providing a ruthlessly simple fundraising database solution allowing you to easily segment and report on donor details for better communication, interaction, and relationship building.
Fortunately, there are tools out there that can assist in this vital effort of donor retention. To learn more about Bloomerang, sign up for one of our webinars at https://bloomerang.co/resources/