Every not-for-profit organization shares the same fear – losing their valuable monthly donors. Figuring out how to develop a long term, lasting relationship with donors can be daunting. But have no fear! There are simple solutions to combat the dreaded monthly donor attrition.
It’s a fact that even with great effort, there will always be a percentage of monthly donors who will be lost. Reasons for attrition may include:
- Personal financial reasons
- Donors credit card or banking information may change and is not updated
- Credit card could expire
- Donors feel underappreciated and their contributions go unacknowledged
- Competition from other organizations for revenue dollars results in donors shifting donation loyalties
Whatever the reason, charitable organizations are always looking for ways to combat attrition rates for their monthly program. However, many are fearful of trying a new method because of the possibility of failure or adding an additional expense to the program. Despite this, it’s important to look for growth and the long term commitment!
With time, reasonable expectations and some additional investment, there are a number of ways to combat attrition. These include:
- Ongoing contact with donors – have you thanked them lately and in a more personal manner such as a donor recognition thank-you call?
- Keeping a clean database – keeping address and phone number information up-to-date in order to mail these valuable donors with newsletters and other communications will give you the opportunity to develop your relationship and increase donor commitment. An AA/NCOA or phone append clean-up may be in order.
- Conversion – keep adding new donors to your monthly program file. Loyal and long time donors giving single one time gifts may wish to consider changing over to being an active PA. Solicitation can be done through a conversion calling program offered by a number of exceptional organizations. If it is a certainty that donors will be lost over time, adding to the pool helps to maintain and grow the program long term.
- Survey your loyal monthly donors – asking your loyal group what makes them interested in your organization or programs goes a long way to showing you care. Keeping that information stored in a database that can be tracked and measured can be used to address key concerns in the future. By using that information, you can tailor your programs to your donors in a more productive way to make them feel like they have contributed to the cause. This makes them feel appreciated having been heard and develops the long term relationship to combat losing them.
- Maintain up-to-date banking information – credit cards expiring can put a wrench in your monthly processing now and in the long term. Stay organized by speaking with donors before their cards have expired and continue the relationship without the loss of revenue by missed gifts. Call centres work wonders during this process!
These are just some of the great techniques to help to change the problem of monthly donor attrition into an opportunity. The important thing to remember is that your hard work and persistence will pay off in the long run!
Anthony Plunkett, Account Supervisor, Cornerstone Fundraising Services
Related posts:
Tags: Anthony Plunkett