Innovairre Launches Retention Platform for Nonprofits
(Press release, March 3, 2015) — Innovairre Communications, a leader in fundraising, today introduced Donor2 (pronounced Donor Squared). The product integrates data-driven insights and personalization, online/offline media engagement, robotic technology, and analytics into a proven process to convert new donors into loyal donors.
According to a recent Association of Fundraising Professionals study, “For every $100 in new donations nonprofits received, they lost an average of $92 from supporters who failed to give again and others who contributed less than they had previously.” To solve this attrition problem, a team at Innovairre analyzed hundreds of donor file audits it conducted in the past 24 months to discern which strategies can better convert new donors. The analysis revealed that speed of acknowledgment, personalization, augmented donor/data insights, robotic handwriting technology and multichannel engagement were all significant drivers of improved results. With these quantified insights, the Innovairre team built the Donor2 process. The analysis also proved the significant impact of improved retention: a 10% improvement in retention can yield up to a 200% improvement in donor lifetime value.
The Donor2 process is broken down into 9 steps in 8 weeks, with some of the key steps including data augmentation, highly personalized/rapid-turnaround acknowledgments, multichannel engagement, and analytic engine deployment. A simple pro-forma tool enables any nonprofit to quickly evaluate their projected ROI from Donor2 based on the specifics of their program.
“With only 27% of new donors being retained these days, we had to do something for our clients and the causes they’re committed to helping. Now with Donor2, NPOs can quickly and easily reverse that attrition trend with a program built on time-tested techniques,” said Don McKenzie, president and CGO at Innovairre.
McKenzie added, “The speed and personalization of a simple thank you makes a massive difference but in the long run, it is showing donors the impact of their gift that has the greatest effect on increasing donor retention rates — and that’s key to the success of Donor2.”