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Maximizing the Lifetime Value of Your Donors for Fundraising Success (AFP RI 2019)

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https://bloomerang.co/resources/speaking/

Within your donor database lies untold lifetime value. Unfortunately, many nonprofits fail to properly nurture and steward their donors, and are content with high acquisition and high churn.

Why let this enormous asset go underutilized?

In this session, we will cover the tenets of effective database management, no matter what program or vendor you use. We will show examples of best practices in data management, communication segmenting, engagement tracking and reporting in order to help your team work smarter, not harder.

Learning Outcomes:

Be familiar with data management techniques that maximize the capabilities of your database and increase productivity
Understand segmenting strategies lead to higher response rates from your donor communications
Learn how to generate meaningful reports that will impact your internal procedures

Publicada em: Governo e ONGs
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Maximizing the Lifetime Value of Your Donors for Fundraising Success (AFP RI 2019)

  1. 1. Maximize The Lifetime Value Of Your Donors for Fundraising Success
  2. 2. Your Presenter Jay B. Love • 37 Years of Technology Leadership • Over 20,000 Database Installations • Former Founder & CEO of eTapestry • Former CEO of Master Software/Fund-Master • Conner Prarie Museum Board Member • AFP Ethics Committee Chairman • Center on Philanthropy at IU Board Member * Philanthropy Centre Board Member • Innovation Fund at Butler University • Gleaners Food Bank Board Member • Co-Chair of Indianapolis YMCA Capital Campaign 3
  3. 3. jay.love@bloomerang.co @JayBarclayLove Free eBook »
  4. 4. What is the key purpose of a database?
  5. 5. What is the key purpose of a database? “To enable and insure the proper funding of your organization’s mission.”
  6. 6. What is the key purpose of a database? “To enable and insure the proper funding of your organization’s mission.” (Is there a secret to achieving this purpose?)
  7. 7. Do you know your retention rate?
  8. 8. In our surveys, less than 25% of fundraisers knew their current donor retention rate. Do you know your retention rate?
  9. 9. Calculating Your Retention Rate » # of Donors in Current 12 Months (from the previous years pool) divided by # of Donors in Previous 12 Months
  10. 10. Fundraising Effectiveness Project (FEP) A project to help nonprofit organizations measure and compare Who is Studying Donor Retention?
  11. 11. Donor retention over the years » @JayBarclayLove http://afpfep.org/reports/
  12. 12. Donor Attrition Over Five Years # of Donors Attrition Rate Donors Remaining After 1 Year Donors Remaining After 2 Years Donors Remaining After 3 Years Donors Remaining After 4 Years Donors Remaining After 5 Years 1,000 20% 800 640 512 410 328 1,000 40% 600 360 216 130 78 1,000 60% 400 160 64 26 10 So what? https://bloomerang.co/resources/downloadables/donor-retention-math
  13. 13. New donor retention is even worse »
  14. 14. Source: Fundraising Effectiveness Project http://afpfep.org Recapture rate is falling » @JayBarclayLove
  15. 15. Who to focus on »
  16. 16. “The total net contribution that a customer/donor generates during his/her lifetime in your database” Defining Lifetime Value »
  17. 17. Source: Philanthropy Panel Study - Lilly School of Philanthropy
  18. 18. Importance of being a chosen charity » The number of charities supported annually: • Income 50K – 2-3 • Income 100K – 3-4 • Income >100K – 4-5 • One is usually there church • Second is most likely their school
  19. 19. Where Does This Leave Your Cause?
  20. 20. $1000 + $500 - $1000 $100 - $500 $25 and under annually $25 - $100 Value Value Segments » Time
  21. 21. 6 Key Retention Drivers (That can double lifetime value) Connect often (3X in 1st 90 Days!) (Survey) Be different than the rest Be personal (SEGMENT via DB) Handwritten outperforms all others Find & use numerous human connectors Always communicate what monies are doing!
  22. 22. @JayBarclayLove
  23. 23. @JayBarclayLove
  24. 24. @JayBarclayLove
  25. 25. Engagement Begins With The Thank You!
  26. 26. “Proper database usage is the key to donor retention and lifetime value!”
  27. 27. The 3-Legged Stool » 1. Record keeping 2. Outbound communications 3. Interactions
  28. 28. 1. Record Keeping » • The original reason to replace 3x5 cards in the 1980s! • Everyone in the organization should use the database • Everyone in the organization should benefit from data
  29. 29. 2. Communications » • The “secret sauce” of retention success! • Offline • Appeals • Acknowledgements • Newsletters • Handwritten notes (magical!) • Online • Email • Website interactions • Social media interactions • All must be integrated!
  30. 30. 3. Interactions » • Types • Phone calls • Texts • Meetings • Emails • Chat • Notes • The institutional memory of your organization • Enables the highest levels of engagement • All must be integrated!
  31. 31. Data Management » Can you have too many names in your database?
  32. 32. 0 / 10 / 90 Rule » • 0% of your funding • 10% of your funding • 90% of your funding
  33. 33. 0 / 10 / 90 Rule » • 0% of your funding • 10% of your funding • 90% of your funding What should you do with each segment?
  34. 34. 0 / 10 / 90 Rule » • 0% of your funding • remove all but: • previous above-average donors • previous board members • previous top volunteers • alumni • positive replies to surveys • 10% of your funding • handle in an automatic manner, but research • 90% of your funding • focus the majority of your efforts here
  35. 35. Appeal segmenting »
  36. 36. Appeal principles » • Design a “style” for each segment • Consider calling and mailing segments 2, 4 and 6 • Handwritten notes and/or P.S. are powerful • Test, test, test! • Personalize as much as possible (database fields) • More than once a year • Always aim for monthly donors!
  37. 37. Donor communications » “Successful donor communications are quite simple. At heart, they are love letters to donors & prospects, woven through with clear cries for help.” - Tom Ahern, Bloomerang Donor Communications Head Coach http://aherncomm.com
  38. 38. @JayBarclayLove
  39. 39. @JayBarclayLove
  40. 40. @JayBarclayLove
  41. 41. @JayBarclayLove
  42. 42. https://share.vidyard.com/watch/rh6mDE1mrwLKqZChs2bPfS @JayBarclayLove
  43. 43. Engagement factors »
  44. 44. 40
  45. 45. Prospect Research is now easy…
  46. 46. 5 best indicators »
  47. 47. 5 best indicators » 1. Previous Giving To Your Nonprofit https://bloomerang.co/blog/5-indicators-for-identifying-the-best-p
  48. 48. 5 best indicators » 1. Previous Giving To Your Nonprofit 2. Giving to Other Nonprofits https://bloomerang.co/blog/5-indicators-for-identifying-the-best-p
  49. 49. 5 best indicators » 1. Previous Giving To Your Nonprofit 2. Giving to Other Nonprofits 3. Participation as a Foundation Trustee https://bloomerang.co/blog/5-indicators-for-identifying-the-best-p
  50. 50. 5 best indicators » 1. Previous Giving To Your Nonprofit 2. Giving to Other Nonprofits 3. Participation as a Foundation Trustee 4. Federal Political Giving https://bloomerang.co/blog/5-indicators-for-identifying-the-best-p
  51. 51. 5 best indicators » 1. Previous Giving To Your Nonprofit 2. Giving to Other Nonprofits 3. Participation as a Foundation Trustee 4. Federal Political Giving 5. Real Estate Ownership https://bloomerang.co/blog/5-indicators-for-identifying-the-best-p
  52. 52. Reporting »
  53. 53. Hone in on what is truly needed… • Reporting »
  54. 54. Communication-related (plus results!) • The key to proper testing Reporting »
  55. 55. Big picture for board (YTD vs budget) • Dashboards and graphics Reporting »
  56. 56. KPI September Goal September Actual New Donors 500 831 New Volunteer Signups 460 652 Web Sessions 17,500 22,253 Email Signups 12,500 16,794 Cost per New Donor $1.00 $1.39 Cost per Return Donor $0.25 $0.27 Budget YTD $61,745.09 $61,638.94
  57. 57. Free educational resources » https://bloomerang.co/resources •Daily blog post •Weekly webinar •Downloadables •Nonprofit Wrap-Up
  58. 58. Questions? jay.love@bloomerang.co @JayBarclayLove Free eBook » https://bloomerang.co/staytogether/

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