High donor attrition is a fact of life for fundraisers—even those who excel at donor retention. To grow revenue, social good organizations must attract a steady stream of new donors each year to replace those that will be lost. However, your organization likely has supporters who, despite a lack of giving history, have engaged with you in some way in the past.
In today’s episode, Brooke Hansel, Nonprofit Principal Solutions Marketer at Blackbaud, discusses the challenges associated with acquisition, how to determine which supporters to steward, and the practical steps you can take to establish a more streamlined process for converting your supporters into donors.
Topics Discussed in This Episode:
- Donor acquisition growth in 2020
- The importance of diversifying revenue
- Multi-year donor retention vs. first-year donor retention
- Talking about acquisition in the context of retaining the donors
- Understanding donor acquisition cost
- How to acquire donors efficiently
- Wealth screening tools
- What to consider in a data-driven approach
- The link between volunteers and donors
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Resources:
- Brooke Hansel
- Webinar: Tap Your Supporter Base for New Donor Acquisition
- Technology and Engagement Webinar Series for Nonprofits
Quotes:
“It’s important, more now than ever, to focus your acquisition efforts close to home.”
“Acquisition is critical given the whole “leaky bucket” idea.”
“The more efficient we can be at doing this work, the more time we have to play.”
