If You’ve Got Money to Throw at Something…
Do you have a budget that’s larger for donor acquisition than it is for donor retention? Did you answer yes? If so, consider the following: when you spend more on acquisition than you do retention, you risk not making your donors feel
in the know,
that they matter, and
If your board and/or CEO don’t understand how important investing financially in donor retention strategies and tactics is, you’ll never be able to communicate with your current donors in a way that makes them loyal, lifelong supporters of your cause.
We’ve studied this aspect of fundraising with our own clients at Rescigno’s and we’ve found that you have about a
60-70% chance of getting an additional gift from a current donor;
20-40% chance of getting a gift from a recently lapsed donor;
2% (at best) chance of getting a gift from new donor acquisition.
I don’t remember who said this, but it makes a lot of sense to me: It’s a lot easier to get a donor who already gives to your cause to care enough to continue to give, than it is to try to get a new donor who has never given to begin to care enough to give.
Rescigno’s is available for a conversation with your CEO or board about why donor retention should be a priority. We’re also happy to work with you on donor retention strategies that will keep your donors giving longer.