Donor Engagement: Julep Fundraising Strategies for Nonprofits
Donor Engagement and your Donor Retention Rate
What is a good donor retention rate? Why does it matter for donor engagement? According to the Fundraising Effectiveness Survey, the average donor retention rate is 45%. If you are at or below this percentage you are losing 55% or more of donors who want to give again to your organization.How to calculate donor retention rate for your organization is easy. Take the total number of donors who gave this year by those who gave last year. This percentage is the donor retention rate. The higher that percentage, the more donors you are retaining. You can then use this information to set up a plan to improve donor engagement and drive up your retention rates.
How to Retain Donors
Focusing on donor engagement and stewardship is a great fundraising strategy for nonprofits. Setting up a stewardship development plan to thank your donors will allow your organization to streamline the process and keep donations coming. Assigning metrics to your donor engagement can be a great way to calculate your success. Julep recommends using a CRM for nonprofits that specifically can track things like volunteer hours and board member activity, unlike a traditional sales CRM.
Donor Thank You Letter
One essential donor engagement activity your organization should prioritize is the thank you donation letter. A proper nonprofit thank you letter will include information for tax deductions and will show the donor they are appreciated. In your donor thank you letter, you should show how a donation makes a direct impact on our organization and the people they serve. You can go beyond just a thank you letter, depending on your organization’s resources. Don’t know where to start? Look for donation thank you letter templates online and modify to your organizations needs.Julep is a fresh & flexible nonprofit CRM that helps you nurture relationships with existing donors, provides guidance in fostering new ones, and gives you the insight needed to reach your development goals. Set up a demo today!
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