One of the most important pillars of fundraising is stewardship.
Every non-profit agency needs to insure that they have a high percentage of renewal gifts. In the for-profit world, there is an old saying. “It takes less to keep a customer than to generate a brand new one”. The same thing applies in the world of non-profit fundraising.
Wikipedia defines stewardship as an ethic that embodies the responsible planning and management of resources. Stewardship is also recognized as the acceptance or assignment of responsibility to shepherd and safeguard the valuables of others. For the sake of this definition, resources means existing donors. Safeguarding their valuables refers to making sure dollars raised are expended wisely.
So, why does a person renew their gift with your agency? What can you do to compel them to feel that they have a responsibility to renew their gift?
When high value donors are nurtured, they feel important. They renew their gifts to your agency because they feel valued by your organization.
The majority of major-gifts donors are not impressed with the amount of email you can send them. They want to know that kind of difference they are making in people’s lives. How are you showing them what their money does? How are you thanking them?
Stewardship and Nurturing
Renewal gifts are about stewardship. Conversely, stewardship is the key for renewal gifts.
You need to nurture your donors and stay in tough with them. You need to keep them in the loop in terms of what’s happening in your agency.
Most important – you can never say thank you too often. And, you can never say thank you in enough ways.
There are lots of great things you can do to increase your percentage of renewal gifts. As a matter of fact, I have 45 great Stewardship ideas you can use!
Click HERE to read more.