Here's why: In the latest fundraising effectiveness project report from Bloomerang which you can find here, the numbers are scary:
This is NOT sustainable for our industry. Donor retention is more than just a buzzword, it's a lifestyle. If we move the needle on donor retention, then the rest of our culture of philanthropy changes. And revenue changes along with it, and this makes fundraisers happy.
What is our role in this? Our role is to radically transform the way we perform donor relations. It's no longer ok to focus our efforts at the top of the pyramid, regardless of the fact that over 80% of our revenue comes from the top. If we don't split our time equally, yup 50/50, then those entry level donors will NEVER grow to be major donors if they don't make a second gift. So it's our job, our pleasure, to examine their behavior and what it tells us. Look at the following behaviors and make sure you have a corresponding donor relations touch for each one:
- First Time Donors
- Loyal Donors of more than 5 years
- Donors who upgrade their gift by 25% or more
- Donors who have lapsed and then returned
- Monthly or sustaining donors who make more than 4 gifts a year
- Online only/digital donors
Time for a radical shift in the way we behave, and the donors will follow.
What are your thoughts?