There are many nonprofit insurance challenges, but one of the most crucial is retaining donors. Donations are essential to the nonprofit meeting their goals and running their operations. These tips can help with donor retention.
The experts at Moody Insurance Worldwide states that relationship integrity has a higher value for nonprofits than for-profit businesses. This not only affects how the nonprofit works with partners, but these relationships can help maintain donors. Staying connected to donors through a variety of methods can help with retention.
Consider adding a welcome pack for new donors. These packs provide an immediate connection that extends beyond the fundraising potential. This can be the start of a great relationship that shows how much the nonprofit values the donor right from the start.
People today are primarily about convenience. This is true for their giving as well. The more convenient it is to donate to the nonprofit, the more likely the nonprofit will see repeat donations. Create recurring payments, partner with businesses for donation matches and promote a giving habit with small, regular donations.
Donor retention is one of many nonprofit insurance challenges. The changing landscape of the economy and the growing use of technology continues to pose challenges to businesses across industries. Nonprofits can use these tips to help retain donors who are the lifeblood of their businesses.