Now that the event is over, another significant fundraising opportunity is right in front of you: building deeper relationships with those who attended and donated. And why would nurturing relationships be worth your time and efforts? Our experience and research have taught us the following:
- The donor retention rate in the United States hovers around 46%. This means 54% of those who donate in a given year do NOT give the following year.
- Yet…it takes significantly less time and money to get a second gift from a current donor than it does to attract a new donor.
- An increase of 10% in your retention rate can, by some estimates, double the lifetime value of your donor database.
- People who have already given a gift – especially at a higher level – have shown belief in the organization – and this needs to be nurtured.
- Donors who give a second give within six months of the first are more likely to become long-term donors.
- Donors have high expectations of the relationships they have with the organizations to which they give.
- Commitment to long-term giving leads to greater engagement in other ways.
Over time we have developed a set of key strategies to help clients take event momentum and keep it going. We partner with clients to understand donor motivation and values, communication with them in meaningful ways, and ultimately connect and engage for the long-term.