Donor Retention Education w/ Steven Shattuck
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https://bloomerang.co/retention This session explores the Fundraising Effectiveness Project report commissioned by AFP and the Urban Institute. The dismal news in this report can and should be an eye opener for every nonprofit engaged in fundraising. We will focus on the root causes of poor retention rates, and offer tips for improvement based on the principles of Dr. Adrian Sargeant and Tom Ahern: two world-renowned authorities on building donor loyalty. Sargeant and Ahern’s principles are based upon years of research conducted in the sector and can be used by any organization, whether you are a one-person shop or a large department. We will show examples of their principles in action. The results can be astounding when put into daily use! Learning Outcomes: Be familiar with current research on donor retention and how an increase or decrease can impact your bottom line Understand how to calculate your donor retention rate Learn new donor communications techniques in order to improve donor loyalty and retention
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Donor Retention Education w/ Steven Shattuck
- 1. What Fundraisers Can Do to Stop Falling Donor Retention Rates
- 2. Steven Shattuck @StevenShattuck VP of Marketing -‐ Bloomerang Executive Director -‐ Launch Cause Contributor to: Ragan, NTEN, Business2Community, Social Media Today, National Council of Nonprofits, Search Engine Journal, ExactTarget, Raven Internet Marketing Tools, HubSpot, Content Marketing Institute, Nonprofit Hub, INside Indiana Business. Speaker: Association of Fundraising Professionals, National Council of Nonprofits, ADRP, NCDC, NAMP, ANN, PRSA, Planet Philanthropy Your presenter » @StevenShattuck
- 3. Do you know your retention rate?
- 4. In our surveys, less than 45% of fundraisers knew their current donor retention rate. Do you know your retention rate? https://bloomerang.co/blog/infographic-the-state-of-donor-retention-in-2014/
- 5. Calculating your retention rate » @StevenShattuck • 1,000 donors in 2013 • 1250 donors in 2014 • 500 donors from 2013 donated again in 2014 • 750 new donors in 2014 • 500 returning donors in 2014 • 500/1000 = 50% retention rate
- 6. http://afpfep.org Growth in Giving Initiative / FEP »
- 7. The 2015 results are in » https://bloomerang.co/blog/infographic-2015-fundraising-effectiveness-project-survey-report/
- 8. New donor retention is even worse »
- 9. Donor retention over a decade »
- 10. Donor Attrition Over Five Years # of Donors Attrition Rate Donors Remaining After 1 Year Donors Remaining After 2 Years Donors Remaining After 3 Years Donors Remaining After 4 Years Donors Remaining After 5 Years 1,000 20% 800 640 512 410 328 1,000 40% 600 360 216 130 78 1,000 60% 400 160 64 26 10 So what? https://bloomerang.co/resources/downloadables/donor-retention-math-made-simple
- 11. Donor retention math » https://bloomerang.co/resources/downloadables/donor-retention-math-made-simple
- 12. @StevenShattuck Why do donors leave?
- 13. • 5% -‐ thought charity did not need them • 8% -‐ no info on how monies were used • 9% -‐ no memory of supporting • 13% -‐ never got thanked for donating • 16% -‐ death • 18% -‐ poor service or communication • 36% -‐ others more deserving • 54% -‐ could no longer afford Why nonprofit donors leave » https://www.linkedin.com/today/post/article/20140520191728-746287-- infographic-why-donors-stop-their-support @StevenShattuck
- 14. @StevenShattuck Why do donors stay?
- 15. @StevenShattuck Key drivers of donor commitment » 1. Donor perceives your organization to be effective in trying to achieve its mission. 2. Donor knows what to expect from your organization with each interaction. 3. Donor receives a timely thank you. 4. Donor receives opportunities to make his or her views known. 5. Donor is given the feeling that he or she is part of an important cause. 6. Donor feels his or her involvement is appreciated. 7. Donor receives information showing who is being helped.
- 16. The gift acknowledgement problem. @StevenShattuck
- 18. @StevenShattuck https://bloomerang.co/blog/infographic-‐the-‐great-‐5-‐donor-‐communications-‐experiment $5 experiment -‐ Indianapolis » • 48/50 email receipts • 17/50 snail mail letters • fastest = 5 days • slowest = 6 months • 3/50 hand written notes • 0/50 phone calls (19 required phone #s) • 0/50 social media interactions • 2/50 no acknowledgement
- 19. @StevenShattuck $5 experiment -‐ Chicago » • 46/50 email receipts • 14/50 snail mail letters • 2/14 “thasks” • 2/50 hand written notes • 0/50 phone calls (20 required phone #s) • 0/50 social media interactions • 19/50 appealed within 14 days • 2/50 no acknowledgement • 1 appeal https://bloomerang.co/blog/infographic-‐2015-‐5-‐donor-‐communications-‐experiment
- 20. @StevenShattuck
- 21. @StevenShattuck
- 22. A plan for every donor. @StevenShattuck
- 23. Acknowledgement segmenting » @StevenShattuck Above average gift amount At or below average gift amount
- 24. Differentiate the acknowledgement » @StevenShattuck Above average gift amount At or below average gift amount Letter # 1 Phone call (tour invite) Letter #2 Handwritten note Email/Letter #4 (Volunteer request) Email/Letter #3 (survey) (monthly upgrade)
- 25. Segments per channel » @StevenShattuck Website Direct Mail/Ad Event
- 28. @StevenShattuck
- 29. Sample cultivation plan » Free pdf at www.tripointfundraising.com @StevenShattuck
- 30. @StevenShattuck The personal touch » • first-‐time donors who get a personal thank you within 48 hours are 4x more likely to give a second gift (Tom Ahern) • a three-‐minute thank-‐you call will boost first-‐year retention by 30%. (Roger Craver / The Agitator) • a thank-‐you call from a board member to a newly acquired donor within 24 hours of receiving the gifts will increase their next gift by 39%. (Penelope Burk) http://www.nonprofithub.org/fundraising/excuses-‐need-‐call-‐every-‐new-‐donor http://www.guidestar.org/rxa/news/articles/2010/how-‐to-‐increase-‐donations-‐by-‐39-‐percent.aspx
- 31. • All acknowledgements: treat them like royalty • Email: send a new donor survey • Snail mail: include handwritten note • Call as many new donors as possible • Get board members and volunteers involved • Schedule in-‐person meetings/tours • 2nd ask within 90 days is okay • Introduce monthly giving for certain segments Quick tips » @StevenShattuck
- 32. @StevenShattuck
- 33. Email receipt » @StevenShattuck
- 37. @StevenShattuck https://bloomerang.co/resources/downloadables/basic-‐thank-‐you-‐letter-‐template/ Snail mail letters » 1. Personal intro 2. Thank you 3. Impact statement 4. Future communications 5. Another thank you 6. Personal signature 7. PS w/ additional action
- 38. @StevenShattuck
- 40. • Utilize communication preference • Make the donor the star of the show • more “you” than “we” • State exactly how donation will be used • Communicate impact • Preview future communications • Give the donor something to do next Acknowledgement content tips » @StevenShattuck
- 41. • Send a donor survey to 1st-‐time donors • Boosts retention even if they don’t respond • Respondents signify high-‐engagement • Email receipt is a great place to include • SurveyMonkey / Formstack / Wufoo Survey » @StevenShattuck http://t.co/XMUTnvjThP https://bloomerang.co/blog/23-‐questions-‐to-‐ask-‐donors-‐and-‐prospects/
- 42. • Why did you first give to our organization? • What interests you most about organization? Why? What is less interesting to you? Why? • Why do you give to our organization? How would you describe our mission? What does it mean to you? • What are the most critical results you expect our organization to produce? • What do you tell others about us? How do you describe this organization to others? • Why does this cause matter to you? Why now in particular? @StevenShattuck http://t.co/XMUTnvjThP https://bloomerang.co/blog/23-‐questions-‐to-‐ask-‐donors-‐and-‐prospects/ Survey question ideas »
- 43. Monthly giving » @StevenShattuck Source: Target Analytics, 2014 DonorCentrics US Recurring Giving Benchmarking Analysis
- 44. • Make it an option on donation forms • Suggest donation amounts • Introduce monthly giving to repeat donors below average gift amount Monthly giving » @StevenShattuck
- 45. Keep donors happy » @StevenShattuck Source: Target Analytics, 2009 DonorCentrics US Recurring Giving Benchmarking Analysis
- 46. • Isolate donors who haven’t given in 2+ years • Remove from direct mail sends • Send a lapsed donor survey • Invest in data services • NCOA • Deceased Suppression Processing Lapsed donors » @StevenShattuck
- 47. @StevenShattuck Can acquisition trump retention?
- 48. @StevenShattuck
- 49. • It’s not about you. It’s about the donor. • Segment your donors. • Create a written comms plan for each segment. • Concentrate on first-‐time donors. • Get that second gift. • Personalize! • Steward, then solicit. Final thoughts » @StevenShattuck
- 50. Free educational resources » @StevenShattuck https://bloomerang.co/retention
- 51. Free educational resources » @StevenShattuck https://bloomerang.co/resources •Daily blog post •Weekly webinar •Downloadables •Nonprofit Wrap-‐Up •Bloomerang TV •Bloomies