What do you do next?
Last week, I talked about donor retention, why it is important, and how to measure it. Did you take some time to figure out what your organization's retention rate is?
If not, why not take a few minutes and do a basic calculation? It can be quick and dirty to give you an idea. Here's one way to do it:
Number of donors who gave in 2013 AND 2014
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Number of donors who gave in 2013
What's your number?
Do you have room to improve? Based on the recent numbers published, virtually everyone does.
So... What do you do?
Say Thank You!
Quickly, meaningfully and often.
Did you thank the donors who generously responded?
Yes? Great! You're one step ahead. Keep saying thank you.
No? STOP READING THIS BLOG! GO THANK YOUR DONORS RIGHT NOW! Pick up the phone. Send a personal letter. Send an email. Whatever you have to do, do it NOW! SAY THANK YOU AS SOON AS POSSIBLE! Tell the people who supported your organization how much their support means. Tell them how they are making a difference through their support. Tell them how much they mean to your organization and the cause you serve.
Come back to finish this post after you've thanked your donors.
Is saying thank you that important? In my opinion, ABSOLUTELY! And then some.
My apologies for the online yelling. Yes, I am that passionate about thanking your donors.
Over the last few weeks, I've spoken to a few folks at different organizations who didn't have a plan in place for what happens after receiving a gift. Luckily most know that a timely acknowledgement is one of the most important things an organization can do for donors.
There are some great sources available online to help write really good donor acknowledgement letters. Sofii (showcase of fundraising innovation and inspiration) is one. Lisa Sargent is a guru and has some excellent tips on her website.
You send the acknowledgement. Then what?
One thing I've found to be effective is simply making a phone call to say "Thank You." to your donors. These calls are often fun to make. Sometimes you get a suspicious, "Yes?..." or "why are you calling today?" Often, once you explain that you are calling to say thank you for her recent gift, the donor relaxes and opens up. I've discovered how a person first found out about an organization. Or why they made this particular gift. Or that their family has been involved in this organization for a very long time, and they want to continue that legacy. Whatever it is, there's often a gem in the conversation that can help you plan your next steps.
These types of calls are a great way to get your board members and senior leadership involved as well. Who doesn't want to get a call from your organization's leadership just to say thanks? (Well, there might be someone, but they are few and far between in my experience!)
Depending on your program, you might be able to involve program recipients in these types of calls.
After you say thank you, what do you do?
This is where things get even more fun! The goal in this part of the relationship is to build the relationship! Report back to the donor on what's happened as a result of her gift. Send a photo of a day in the life of the program. For major donors, prepare a formal follow-up that you present in person.Make sure your donors are receiving a good newsletter, electronic or print. Tom Ahern is another guru with tips and tricks to make your newsletters more effective. Take a look and see what you can do.
If you're working with a first time donor, or a group of new donors, you might want to consider a welcome kit, or welcome stream. Pamela Grow shared some great thoughts on how to make this communication most effective.
Ask your donor to do something -- take a survey, follow your organization on social media, advise on an issue or topic, volunteer. Just get her more involved and engaged. It makes a difference!
Then... you MUST ask again.
This next part is key. A donor won't give again, unless you ask again. (There are a few exceptions to this rule -- including donors who give automatically each month.) Let me say that again...
A donor won't give again, unless you ask again.
If you don't ask, you won't succeed. So don't be afraid of asking, or of asking too soon. As long as you have acknowledged your donors and done some reporting back, I'd say you are most likely fine to ask again. Again, there are some exceptions, but for the most part, go ahead -- ask.
There's no hard and fast rule as to the time frame of this second ask. However, there are a couple good old fundraising adages that do apply:
1. A donor who gave recently is more likely to give again.
2. The sooner a new donor gives a second gift, the more likely that donor is to keep giving.
For example, don't take someone out of your mail just because they gave in January and you have a mailing going out in February. Make sure you take the steps to properly steward that donor, and as long you February ask is respectful and interesting to the donor, she just might appreciate the update. Maybe, she'll send another gift.
This process doesn't have to be complicated, and with today's technology, some of it can even be automated. But it does make a difference.
Your turn....
What do you do after a donor gives a gift? Share in the comments please.
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