At least if shouldn’t be so hard. After all, the commercial sector manages to retain 94% of their customers. Then why does the nonprofit sector only manage to retain 41%? Even worse, new nonprofit donor retention is only 19%, down from 27% in 2011. That’s abysmal. What’s going on?
Why are our for-profit brethren beating the pants off of us when it comes to retention?
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To everything there is a season.
This is the season of Thanksgiving. Instead of asking your supporters for gifts this coming #GivingTuesday, how about simply sending them a great big grateful virtual hug?
Thanks(for)giving.
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| Are you focused on the gift or the giver? |
That’s the question that has fundraisers everywhere scratching their heads and crying in their beers.
Hmmn…
Donor retention has continued to plummet every year for the past seven years. It’s really, truly an awful problem. For some unknown reason, all that hard work you put into acquiring new donors is, seemingly, being wasted. Why?
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In a recent webinar I presented about How Creative Thank Yous and an Attitude of Gratitude Can Supercharge Your Fundraising, it became apparent there’s one question many of you struggle with:
Gosh dang it! How on earth do you develop a system that assures thank you’s really get out in 48 hours?
HERE’S THE BIGGEST SECRET:
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Want your donors to sustain you? Then you can’t consume them in five minutes.
Yet all too often nonprofits treat their donors exactly like a gumball dispensed from a machine. Chew it up. Spit it out. Done.
Oh, yeah… maybe you send a quick thanks to whoever gave you the change to buy the gum. But that’s as far as your gratitude takes you. You’re over it. You never even think about that gumball again. You probably can’t even remember what color it was. You’re off hunting down your next snack.
Little snacks are nice. But they won’t sustain you over time.
One-time donations are the same way. And they’ll stay that way – one time – if you treat them the way you treat your gumballs.
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Earlier this week I posted an article talking about how fundraising professionals need to become Engagement Journey Guides. One of my readers, Amy K., suggested that was a mouthful and offered up the term “Engagement Sherpa.” That got me thinking, so I looked up the word. Sherpa means “a member of a people noted for providing assistance to mountaineers… [and who] have achieved world renown as expert guides.” Hmmn. I really like that!
Think of your donors as mountaineers. They’re on an ascent. It’s not just towards the top of your donor pyramid.
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Philanthropy, Not Fundraising
Here’s a true story. Some years ago, while working for a family service agency, we became involved in a discussion about job titles. Should folks stay as directors or become v.p’s? Should my title remain ‘Director of Development’ or switch to ‘Advancement’ or ‘External Relations’? I researched titles elsewhere. Yada, yada, yada. I finally said I really didn’t care. Just call me ‘Maven of Money’ or ‘Diva of Dollars.’
I didn’t get it.
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When you ask a fundraiser what the most difficult part of their job is, chances are you’ll get one of two answers – acquiring donors or retaining donors. Any fundraising organization is bound to come up against these problems at some point. But here’s the thing that is often overlooked – if you do a better job retaining donors, you can spend less time and money trying to acquire new donors.
Could this be the secret formula for fundraising success? Well, not entirely. But it’s a solid start.
Donor retention can seem elusive for many non-profits. It’s frustrating to pull up your annual reports to find out that you’ve only had 50% of last year’s donors make a gift again this year. Sometimes, it can even feel like a personal defeat.
If you’re working on the annual giving side of development, keep track of thousands of donors is nearly impossible. Your database can quickly become your archenemy. Having the highly personal relationships that major gift officers have with donors is a novel pipe dream.
But what if it was possible to scale this concept to create a system that retains donors?
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Philanthropy, Not Fundraising
I’m going to go out on a limb here and make an assumption. Here goes: Your goal is to attract supporters and invest in long-term relationships that will sustain your mission. If your goal is different, read no further. Otherwise… carry on.
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