New Donors – Yay! Now, how do we keep them?

New Donors – Yay! Now, how do we keep them?
Every fundraiser I know worries about donor retention. How do we keep our current donors happy, engaged and involved? We know that it is a lot easier to retain our donors than it is to find new folks to support our organizations. And while it is important to dedicate a significant amount of our time building and fostering relationships with our donors and friends that continue to give to us, it is also critical to add new donors into the fold. To find these new donors, we often work with our Boards, committees, volunteers and our staff to try and cultivate new relationships with people who we think will be inspired by our missions.
So, what do we do when we have the good fortune of securing new donors? What is our plan to keep them? I recently read an article that shared some staggering numbers about new donors. Once we have them – it’s hard to keep them after the first year. When a donor gives her first gift online, on average, a second gift only happens 22 percent of the time (and 29 percent if a gift is made off-line).
Here are just a few things you can do to try and keep these first-time donors from falling away from your organization:

• Pick up the Phone! Regardless of the first gift amount – it could be $5 or $500 – call this new donor. Doing just this has shown that 40 percent of new donors continue to give when they are called and thanked. We work hard to build relationships and a simple phone call can be the start of a wonderful new relationship. Take the opportunity to learn why they gave and what is important to them.
• Thank! – Send out a thank you note within 48-72 hours after you’ve received their gift. Hand sign it. Write a note. The more personalized the better.
• Engage! – Find more opportunities to engage your new donors. Do you have a volunteer opportunity that you could let them know about? Be sure to send them your newsletters and make sure that they know what they are helping to support.
• Nurture! – Share stories with your new donors. How is their gift really making an impact? Share about a client that has been helped, a family that their gift has impacted, and how your partnership with your donor is making a real difference.
• Keep Track! – Have a system to track new donors. Circulate the names of your new donors with your Board and committees. Find out who knows them and have them reach out as well. Make it easy for your volunteers and provide copy they can use for an email or a phone call. Can you imagine how great it feels to be a new donor and get several thanks you’s from a variety of folks involved with the organization?

Having a simple plan in place for welcoming and thanking new donors will go a long way in ensuring they are here to stay. And, just think…that first-time donor from today might just be your top major donor of tomorrow!