| Sarah Koss
VP, Account Services
We all know that getting the second gift from a new donor is a key objective in the donor journey and crucial to long-term retention. And yet, as many as 70% of all donors leave us after that first gift. How can we enhance & extend the donor journey to reverse the trend?
Here are a few second gift strategies that can make a difference to your program:
Say "thank you" … then say it again
Many times the first communication after the first gift is an acknowledgement, which is meant to provide the donor with a tax receipt for his/her first gift to the organization and solidify the donor's feelings of goodwill.
Before your newest donor receives yet another request for money, you have an opportunity to begin building goodwill. If you're using best practices, everyone will receive an acknowledgment with a tax receipt in a timely manner after the first gift. But consider going even further:
- A real, honest message of thanks. While it's true that most acknowledgments include a thank you, they also include another ask, which can diminish their impact. Consider a communication that is a pure and unadulterated thank you across all channels. For high dollar donors, consider a phone call. For lower dollar donors, consider cost effective formats such as a postcard or email.
- Welcome them into the community. It is critical that you educate the donor about your organization and show them their impact in order to solidify their place in your community. You can include all that in a multi part email "Welcome!" series that makes them feel good about their gift and introduces them to many facets of your organization. There doesn't have to be a lot of content, but showing impact is key.
- Begin a dialogue. Another important element in the Welcome is to start a dialogue with your donors. Including a brief survey is an excellent way to accomplish this. Let them have a say in how often they would like to hear from you and in what channel.
Pay attention to the age-old best practice: renew as acquired
We've seen response rates more than double when the donor's original acquisition vehicle is sent within the first three months of the renewal cycle!
Speak to donors personally
In the first year of the donor relationship, it's critical to speak to them appropriately. Often, new donors are simply thrown into renewal segmentation and receive renewal messaging that doesn't resonate with them or acknowledge their new relationship. Think about:
- Segmenting out new donors for the first year of their relationship, further acknowledging and thanking them. You can also encourage a second gift in a way that shows you recognize their status. For example, instead of asking the donor to "renew their gift" ask them to consider "an additional gift."
- Review and evaluate existing control content to ensure the new donor is receiving information that is relevant. Your GA data and social threads are great sources for what your constituents are consuming & responding to. Newsletters represent a great opportunity to present mission information as well as highlight the donor's impact and enhance the relationship.
- Introduce your new donors to other ways of getting involved. This can include volunteering or joining an event. Or it can be an opportunity to join a monthly giving program, subscribe to your blog, or participate in your online forums. We know that the more engaged they are with you, the better they will retain.
Remember, if you can get that second gift, you increase a donor's chances of retaining by anywhere from 35 to 60%. So if you're not putting second gift strategies into place, we'll be happy to partner with you to increase those all-important retention rates.
Similarly, be sure to get in touch if there are subjects you'd like to see in future issues of Straight Talk.