How do you measure and report on your donor retention and loyalty rates?

2 Communicate regularly and authentically

The second step to successful donor cultivation and stewardship is to communicate regularly and authentically with your donors: to inform them about your mission, vision, values, goals, achievements, challenges, and opportunities, to thank them for their support, to invite them to participate in your events and programs, to solicit their feedback and input, and to share stories and testimonials that demonstrate your impact and value. You can use various channels and formats to communicate with your donors, such as newsletters, emails, phone calls, social media, videos, blogs, reports, and cards. The key is to communicate frequently, consistently, transparently, and sincerely, and to avoid being too transactional or generic.

3 Cultivate relationships and trust

The third step to successful donor cultivation and stewardship is to cultivate relationships and trust with your donors: to show them that you appreciate their contributions, that you value their opinions and perspectives, that you respect their privacy and preferences, that you honor their expectations and agreements, and that you are accountable and responsible for your actions and outcomes. You can cultivate relationships and trust with your donors by providing timely and accurate receipts and acknowledgments, by reporting on your progress and impact, by recognizing and celebrating their achievements and milestones, by inviting them to join your advisory boards or committees, by soliciting their advice and referrals, and by being responsive and proactive to their inquiries and concerns.

4 Engage and involve your donors

The fourth step to successful donor cultivation and stewardship is to engage and involve your donors: to offer them opportunities to connect with your staff, board, volunteers, artists, and beneficiaries, to invite them to experience your work and witness your impact firsthand, to encourage them to share their stories and passions with others, to ask them to advocate for your cause and mission, and to challenge them to increase their commitment and support. You can engage and involve your donors by hosting events and tours, by creating volunteer and ambassador programs, by launching peer-to-peer and matching campaigns, by offering exclusive benefits and incentives, and by creating a sense of community and belonging.

5 Measure and report on your retention and loyalty rates

The fifth step to successful donor cultivation and stewardship is to measure and report on your retention and loyalty rates: to track and analyze how many of your donors stay with you over time, how often they give, how much they give, and how likely they are to recommend you to others. You can measure and report on your retention and loyalty rates by using metrics such as donor retention rate, donor lifetime value, donor loyalty index, net promoter score, and donor satisfaction score. By measuring and reporting on your retention and loyalty rates, you can evaluate your performance and effectiveness, identify your strengths and weaknesses, and adjust your strategies and tactics accordingly.

6 Learn and improve continuously

The sixth step to successful donor cultivation and stewardship is to learn and improve continuously: to monitor and assess your donor cultivation and stewardship activities, to collect and incorporate feedback and suggestions from your donors and stakeholders, to test and experiment with new ideas and approaches, and to celebrate your successes and learn from your failures. You can learn and improve continuously by conducting regular audits and reviews, by creating a culture of learning and innovation, by seeking best practices and benchmarks from other organizations, and by recognizing and rewarding your staff, board, volunteers, artists, and donors for their efforts and achievements.