5 Ways to Better Manage Donor Relationships
Being a non-profit, you surely know how important it is to find the right donors for your mission.
However, once you have done that, maintaining great donor relationships becomes a key priority. You need to actively engage them and stay connected to your mission.
You do not just want donors to give money; you want them to become your loyal, long-term supporters.
How you build relationships with donors will depend on their specific funding models and priorities. Here are 5 ways you can form deeper donor connections and maintain relationships in a more efficient manner:
Divide Donors into Categories
As a non-profit, you might have different types of donors. When building relationships with donors, a one-size-fits-all approach is not the way to go.
You might need to create some sort of categorization. Some of the factors you should consider include size of the grant, mission of the donor, and so on.
Look for Donor Loyalty Instead of Donor Retention
One of the mistakes that non-profits make is that they focus too much on donor retention. Donor retention is a non-profit’s ability to get the particular donor to donate for them in the subsequent term.
Donor loyalty is a step further. With donor loyalty, not only do you get the donation, your donors are excited and willing to donate for you.
This happens when you rise above the monetary transactions. They believe in your mission and really want to invest in it.
Learn their Reasons
For building and nurturing donor relationships, you also need to understand their reasons for donating. Sometimes, these reasons are very personal. They might be passionate about what you do and might want to make a difference.
By learning their reasons, you connect personally with the donor. If you can forge a personal connection, they are more likely to stay with you.
Establish Clear Channels of Communication
It is very important that you communicate frequently with your donors. They want to be updated on how their donations are being used.
You can do this through monthly newsletters or you can create annual reports.
Encourage them to get involved
Donor engagement is also critical to building long-lasting relationships with donors. Frequently ask for their feedback about how satisfied they are with your performance and if there is any room for improvement.
Also, keep them updated on the necessary improvements you made.
We at Systems for Good provide remarkable donor management software for non-profits. From helping you build deeper connections to providing enhanced reporting tools, our donor management system is as comprehensive as it gets.