Giving Thanks Year-Round
It's the month of Thanksgiving and, therefore, the designated time to give thanks! However, as we know, showing gratitude to our supporters happens year-round… or at least it should! How often do you show your appreciation for financial gifts? What about in-kind gifts?
Hopefully, you have a strategy in place :) but if not, this guidance might prove helpful.
Your system or strategy for showing appreciation does not have to be sophisticated, it just needs to be genuine and personalized. Donors need to feel appreciated and be assured their donations really make a difference. Reaching out to share your appreciation is also a great way to create two-way conversations, which in turn helps form strong relationships. These relationships are what encourage people to give and advocate for the organization in the long term!! [1]
Another objective is, of course, retention. And it’s critical to show appreciation for donors of all sizes if you want them to keep giving! Without investing time and energy into the donors that give small or large amounts of money - or provide in-kind services - nonprofits will struggle to create a sustainable revenue pipeline. Heavy reliance on a few major donors makes it much harder for a nonprofit to be flexible. It’s important to engage all donors to build or maintain strong revenue streams. [2]
Donor engagement is not difficult or complex, in fact, it’s is quite simple:
Thank donors and make them feel appreciated right away (if it’s a new donor it's ideal to reach out within 2-3 days!)
Clearly show donors the impact of their contribution
Inspire them to make a second gift within the critical 3-month window
Fun Fact: Did you know that sending out personalized thank you letters can increase donor retention rates by up to 39%? [3]
Showing appreciation is also a great opportunity to involve board members. So what’s the best way to show appreciation? The options are endless, but here’s what the experts suggest:
Ideally, nonprofits should leverage a variety of communication tools (call from a board member and a personalized thank you card from the ED, for example).
Find out what the donor’s preferred method of communication is. Do they want an email or phone call?
Nonprofits must create communication pieces that share powerful stories and donors’ impact, not just facts and figures. A mixture of stories and facts/figures is likely to engage your donor’s interest more.
Create a virtual donor wall on the donor page of your website whichg highlights donors and their gifts to the organization (with permission of course!).
Celebrate the number and total of gifts received during events, and on social media.
Invite donors to tour your facilities or to meeting the staff/volunteers (if appropriate).
November is the month for giving thanks. However, thanking donors throughout the year, is important if we want to maintain and cultivate their support. It is also just the right thing to do!
Resources:
Donor Thank you Guide https://www.qgiv.com/blog/donor-thank-you-letters/
Holiday Donor Guide https://www.the-purpose-collective.com/blog/guide-to-relaxing-holiday-season
Sources:
[1] https://donorbox.org/nonprofit-blog/donor-communication
[2] https://neonone.com/resources/blog/2021-fundraising-data-is-out-heres-what-it-means/#:~:text=The%202021%20donor%20retention%20rate,stick%20around%20year%20after%20year.
[3] https://www.innovairre.com/getting-the-second-gift-from-new-donors/