Generating donor loyalty through best practices
Donors, much like consumers, are flooded by choice. The internet age has spawned things like crowdsourcing and online giving, which themselves have resulted in an explosion of worthy causes and organizations. Yet most donors only have so many dollars to give, and when a hard decision about allocation needs to be made, nonprofits will want to make sure they'll have that donor's loyalty and can depend on them for long-term gifts.
Inspiring donor loyalty is not a challenge unique to this era, but it is certainly augmented by the times. Now, public and religious broadcasting stations have to compete for time among other voices and operations, which can make it hard to reach a level of engagement and familiarity with donors that generates loyalty. However, there are a number of tools and best practices that stations can lean on to increase their loyalty-drive efforts to net long-time donors and gifts.
Here are some of those strategies to take when looking to attract donors and stir loyalty.
Think of loyalty as more than retention
A lot of emphasis is placed on donor retention these days, and for good reason. Churn is the enemy of all nonprofits, and with the wide variety of choice donors have in directing their hard-earned dollars, it can become quite the obstacle to overcome. Yet as important as churn and retention are, loyalty is a separate, but related, concept. In reality, it's the step beyond retention. Once you've convinced a donor to stay, you need to motivate with reasons to give: the difference between simple retention and more advanced loyalty.
To be sure, loyalty and retention are still very much connected, since they both address the same responsibility of getting a donor to stay on. However, stations need to look at loyalty as a different task altogether if they want to be successful in that area. For instance, retention is all about establishing a base of engagement, whereas loyalty is building on that with incentives or communications designed to make a donor feel welcomed, valued and heard.
Regularly connect with loyal donors
Communicating with your most loyal donors on a normal basis is all about keeping a warm seat hot: You don't want to let your core audience get to thinking you don't value them anymore. If anything, stations and nonprofits need to overcommunicate with loyal donors lest they risk a lull in activity and engagement that results in a giving reduction. There's no real harm in overcommunicating either, your most loyal donors are the ones likely to be the most willing to put up with it; plus, they'll let you know what level of frequency is right for them.
Communication can mean all sorts of things, not just emails. For instance, connecting with donors on social media or through a donor management solution can provide the same effect. The point is, never let radio silence linger too long, as loyal donors want to know they're being paid attention to.
Give donors a reason to become loyal
To ensure donors follow down a pathway of long-term loyalty, it's important to make them see the value in doing so. Extending various perks and membership benefits is must in constructing any loyalty program. In short, stations must incentivize loyalty— but they don't have to break the bank or crimp their margins to make it happen.
Loyal donors really don't expect the world in return for their time and giving, they just want a little something. So whether that's an annual soiree held for the most loyal donors or a free gift every quarter, loyal donors will most certainly appreciate your efforts.
Aside from one-time events or freebies, stations should be sure to extend some smaller-scale benefits like membership cards that may net them discounts at approved partner businesses and institutions. Having such a network is a big advantage for stations and their members, and a marketing point that nonprofits can regularly hit on to gain new loyal donors.
Talk to Allegiance about a loyalty platform
Operating a loyalty program is necessary for any station, but it can also be a bit of a pain if they don't have the right tools or solutions. Managing a roll of loyal donors and ensuring they have access to perks and benefits means having a centralized, data-driven donor management solution to power the entire effort.
Public and religious broadcasters can look to Allegiance Fundraising for that type of solution designed to inspire loyalty—one that's built for their exact industry. Allegiance can help stations extend quality membership incentives, as well as handle much of the legwork in getting such programs up to speed and scale.
Contact us today for more information about how we can help and what our solution can do for your station.