Acquiring a New Donor Costs Significantly More Than Retaining a Donor
While it is important to acquire new donors for your non-profit organization, it’s also very expensive. Acquiring a new donor can cost 50% - 100% more than the donation received from them.
I am surprised how many non-profits take their donors for granted or even worse, neglect their donors. Research has shown that the following actions will keep your current donors giving to your non-profit year-after-year:
Send them a thank you note within 48 hours of receiving their donation. (This is the #1 reason donors keep giving to a non-profit giving year-after year.)
Call the donor and personally thank them for their donation.
Develop a quarterly newsletter that is focused on your donors and shows them the difference they are making for your non-profit.
Provide your donors regular updates through your newsletter, through phone calls and through in-person meetings. Many donors complain that they only hear from a charity they have supported to ask for another donation.