Donor Loyalty Findings, Recommendations
For people to be loyal, information is important. There is no barrier to finding information online, so the monopoly on information that organizations used to have with their donors oesn't exist anymore. So it's important that organizations are a part of the conversation and sharing as much information about themselves as possible.
4. The more the merrier.
The barrier to entry for someone to set up an organization these days or say "join me" is zero. Anyone with a computer can be an organization or a "cause." So there's a lot more competition as opposed to the old days when you needed to be backed by thousands of dollars to do a direct-mail campaign.
The two gurus also shared the following recommendations for enhancing donor loyalty related to fundraising and cultivation:
- recognize the importance of list selection in acquisition
- put a high priority on generating a second gifts
- understand that not all donors are created equal — establish clear profit/loss per donor (or donor segment) benchmarks
- spend the necessary time in detailed analysis of your renewal/retention programs
- identify and specifically address likely defectors
- monitor the competition
- tell your success story to exising donors
- put your leader in front of your donors
- offer a greater sense of belonging — use online engagement tools
- facilitate self-education through online media
- acknowledge and reward loyalty and recruitment
Click here for more information about the Agitator study.