A good donor retention rate is necessary to create a successful foundation for your nonprofit. Donor retention rate is defined as the percentage of donors who keep making donations after their initial one.
Poor donor retention rates are usually the result of poor fundraising strategies or lack of effective donor engagement. Today we are going to provide you with 7 strategies you can use to boost donor retention rates for your nonprofit.
- Make The Donation Process Simple
It doesn’t matter how passionate the donor is about your nonprofit’s vision. If the donation process is a nightmare or is taking too much time, there is a big chance they won’t go through with the donation. Keep the process simple, concise and to the point.
Try not to include any unnecessary requirements or steps in the process. After all it is the donor who is making the valuable contribution. It can also be helpful if you don’t set a required minimum donation for your donors. Allow them to contribute as little or as much as they want.
- Educate Your Donors On How their Donation Makes A Difference
Donors want to know where their valuable money is going and how it is going to make a difference. Make sure you give them a complete and informative guide on how your nonprofit will use their money to support the cause. Many donors get turned off when nonprofits do not disclose any kind of information regarding the validity of their donations.
- Make Sure To Help Your Donor In Every Step Of The process
There are chances your donor might get stuck in the process. He or she might not be able to complete a certain step or receive proper verification for their donation. Make sure to have a proper support system to reach out to the donors in case they require any assistance.
Remember to make the process smooth and comfortable for them. After you have sorted out their issues, make sure to send them a follow up email to know whether they were able to complete the process successfully.
- Give Your Donor A Status
It can be very helpful if you give your donor a status showing their current level or their accomplishment. For example you can have three levels of accomplishments like bronze, silver and gold. A certain number of donations or a certain donation amount can get the donor to the next level.
It can also be beneficial if you provide your donors with free gifts every time they cross a level. You can also set an accomplishment bar with certain milestones your donor has completed.
- Give Your Donor A Live Experience Of The Nonprofit In Action
It is always important to encourage donor engagement and involve your donors in all the activities and events. Getting a one on one experience can help your donor gain a better understanding and improve his or her interest in your nonprofit.
There are multiple ways you can get your donor to experience your nonprofit in action,
- You can get them to volunteer in different activities.
- You can encourage them to hold fundraising campaigns.
- You can give them small tasks or jobs on their visit.
- Hold Community Meetings
Holding community meetings from time to time can give the donors an opportunity to give their valuable opinions or fresh ideas they might have. It is always important to consider donor feedback and apply them wherever it is necessary.
Here are a few discussion ideas or topics you can talk about at donor meetings,
- You can discuss upcoming events and the necessary steps to be taken.
- Talk about what you can do to spread awareness about your nonprofit. This can involve ways to improve your social media presence and communication.
- Discuss about how you can hold effective fundraising campaigns.
- Update Your Donor On New Accomplishments
Keep your donors updated on every milestone your nonprofit has accomplished. Thank them and let them know you appreciate them and value their contributions. Success stories can encourage and motivate donors to make more future donations.
You can give them regular updates through a number of ways,
- Have a social media account where you post about important milestones and other relevant information.
- Keep your donors updated through emails or newsletters.
- You can even hold events to celebrate important milestones.
Donors are the pillars of every nonprofit organization. In order to boost your donor retention rates, you must make sure to implement effective strategies and cater to donor interests. You must make donor satisfaction a priority. It is definitely not hard or impossible to improve donor retention rates, provided you are equipped with the right information.