December 12, 2017
While individual donations are important, your donor relationships are one of the most valuable assets your organization has. A well-nurtured donor can continue to make increasing gifts year after year if the relationship is cultivated. In addition to donating their dollars, when you treat your donors right, you better believe they'll spread the word about your organization. Peer recommendation is one of the strongest forces in the universe.
Each donor relationship is unique and different types of donors require different communication. How do you smooth the path for ongoing donations? How does your organization segment donor relationships?
With Funraise Donor CRM you can do all this and more. Using the same platform where you collect donations, you can also focus on your donors. The future of fundraising is here: take a look!
“Segmenting donors is the first step to more effective communication and outreach.”
Segment donors by type
Make sure you understand the balance of your donor base to see where your revenue is coming from. Treat one-time donors, returning donors, and recurring donors differently.
Interact with these audiences in unique ways. New donors need time to get to know you, so your focus should be on showing the value of your organization and the cool stuff you're doing. A returning donor already values the work that your organization does, but that doesn't mean you should slow communications. Instead, focus this audience on your impact and accountability - show them where their money has been invested.
Build donor portfolios
Fundraising is personal! Each donor should be assigned to a member of your team who's responsible for maintaining the relationship. Trust and rapport with the humans involved in the organization sustains long-term and valuable donor relationships. Gather and utilize unique relationship points to let each donor know you value them.
Whether a donor has given $1 or $1,000,000, there should be a relationship strategy in place before the giving even begins. Historically, donor relationship management was strictly focused on high-value donors, but that's begun to change. When evaluating your donation data, you may find that donors who give small amounts are more likely to repeat donations or become monthly recurring givers - small donations can easily equal or even surpass once-a-year donors.
Group donors by potential giving
When you know the giving potential of a donor is significant, you don't just send a postcard. You do everything you can to develop the relationship: one-on-one meetings, data mining, and providing the best support around. But how can you know the wealth of your supporters? Easy. Funraise shows wealth data for your supporters automatically, allowing you to segment donors by their potential to give.
With Funraise Donor CRM you can do all of this. From within the same platform that you use to collect donations, you can also focus on your donors. The future of fundraising is here, take a look!
Knowing your donors' giving potential is crucial. If a donor routinely gives $10 but you can see their potential is higher, then you can be confident asking for $25 (or more) during your next campaign. A critical component to any fundraising campaign is knowing how much to ask for and when to ask; wealth data helps you to segment your audience so you always ask for the right amount at the right time.