2 min read ✭ The following blog post will offer ways that your organization can maximize your stewardship this year end.
When it comes to moving the bottom line, the most important channel we need to focus on is stewardship. From Giving Tuesday to January 2nd, challenge your team to step up your stewardship like never before.
1. Know your Donor Retention Rate
Retention rates are around 45% industry-wide. For every 1 reactivated donor, 4 new donors are needed to offset attrition. Stewardship is how we improve retention rates. It’s a lot easier to retain a donor and increase their donation amounts, rather than perpetually chase new donors. To take your organization to the next level this year-end, get donor feedback and review data. This will also benefit you in 2020 in terms of retention and increased online giving.
2. Test Bold Strategies on Giving Tuesday
What are some tactics that require small resources but make a big impact? Giving Tuesday is a great opportunity to try some bold stewardship strategies. Team members should be ready to go; people who execute on programming, marketing staff, or beneficiaries that are willing to be outwardly facing. Send them a thank you video on YouTube by shooting it on your phone, posting it on your YouTube channel, unlisting it, and following it up with a personalized thank you video. Organizations that have done this, have received tremendous feedback and have reported more repeat and bigger gifts during year-end.
3. Mobilize Mirco-Influencers
If you have micro-influencers or celebrities that back you, ask them to acknowledge a fan, rather than always seeking financial support. For example, a micro-influencer can post about a young fan who donated $12 of her $20 allowance to your cause. Then, blow that person up with love and acknowledgement on your own social channels. How can we be special when it comes to stewardship this year-end? Hand written notes, phone calls, phone banking, extending a personal thank you. It’s easy to become so focused on acquisition but don’t forget about stewardship. Document what you’re doing, get donor feedback, then look back at that data and reflect on what methods made a difference. Keep us updated and let us know how it goes!
What methods have produced positive results for your organization’s year end? What strategies will you test out this year? Leave us a comment and share your stories!