NOW HIRING: Project Manager | Fundraising growth team that helps nonprofits build a multi-channel, metrics-based approach to grow revenue from new and current donors.
Do you really need new donors to grow your revenue? Every nonprofit wants -new emails -new names -new dollars But growth often starts with your existing donors—and by improving donor retention. Before you spend a lot of money and effort in new donor acquisition, the best investment is often to get your fundraising flywheel spinning reliably. That way, your investment in new donor acquisition will be so much more effective. Because you're inviting new supporters into an experience built on -listening to their needs -engaging them personally -asking them for the right things at the right time -celebrating every gift -reporting back in a real-time and responsive way It's not sexy, but growth often starts with your existing donor file. Why invite new donors into an experience that will only disappoint them? You'll have wasted your money and time—and theirs. #fundraising #nonprofit
Building new relationships is ALWAYS harder than maintaining existing ones. I think the difference is we often underestimate the time investment. So new *feels* easier. There is no baggage, less chance you need to *justify* yourself. Heck, existing relationships can feel complicated. You already "asked" for money once this year, are you actually going to go and do it again?? (and the answer is yes you should). They cared once, they are more likely to care again.
Every word of this Mike! I think the latest NextAfter study showed that the average nonprofit donor retention rate was around 40% and it's been that way for YEARS. You have to invest the resources to keep the donors you have and make that top priority if you want to effectively grow in the long term.
Spot on! Prioritize existing donors and enhance retention before chasing new ones. Building a strong foundation ensures long-term growth and support.
“Retention begins at acquisition.” 👍🏽
Let's get your nonprofit the largest gift it has ever secured
6moYes! I heard a statistic yesterday that new clients have a 5-20% successful conversion rate while existing clients are at 60-70%, and my first thought was "the same statistics probably apply to donors"