Keeping Your Best Friends
Have you ever considered that the process of keeping those donors and volunteers who have given to your organization over several (or many!) years is among the most valuable uses of your time and budget? Don’t quit your efforts to acquire new donors, but here are a few reasons to pay attention to those already in your camp:
- It costs much more to acquire a new donor than it does to retain one who is already giving to your organization.
- The estimated dollar value of volunteer time in 2010, according to the Independent Sector, was $20.90 in Minnesota and averaged $21.36 nationally. Volunteer time can be a huge asset for your organization! A significant percentage of volunteers also make financial gifts to the organizations they serve.
- Regular annual givers are your best prospects for special projects, endowment building, and gift clubs designed to increase unrestricted giving. They are also your best prospects for gift planning.
Here are some simple ideas for keeping these best friends:
- Say “thank you” no matter how small the gift. A personal note or phone call from a board member or other volunteer from time-to-time is appreciated.
- Recognize cumulative giving. But don’t be rigid about it. Remember that donors have their own schedules for giving that may not align with the organization’s fiscal year.
- Recognize and celebrate volunteerism.
- Treat your donors and volunteers as friends. Listen to what they have to say.
- Don’t ask too often. Figure out the giving patterns of your loyal donors and offer tailored giving opportunities accordingly.
- Remember to report on the use of the last gift promptly; don’t wait until the next “ask”.
What ideas do you have for keeping your best friends? It would be great to hear from you.
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