social technology - the future of donor retention is here!
DESCRIPTION
The move from personal to social technology is having a profound impact both within organizations and on donor relationships. For fundraisers, there is an opportunity to tear down internal walls as well as the walls separating donors from the missions they support. These changes are happening at an accelerating pace, so it’s time to see what’s going on and to start figuring out how you and your organization are going get social!TRANSCRIPT
Social TechnologyThe Future is Here!
Key Strategies to Improve Donor Engagement
Jay B. LoveCEO & Co-Founder
Bloomerang
Donor Retention Boot Camp | August 1, 2013
Your Presenter
Jay B. Love CEO and Co-Founder of Bloomerang
• 29 Years of Technology Leadership• Over 20,000 Database Installations• Former Founder & CEO of eTapestry• Former CEO of Master Software/Fund-Master• AFP Board Member• AFP Ethics Committee Member• Center on Philanthropy at IU Board Member• Innovation Fund at Butler University Board Member• Gleaners Food Bank Board Member• Co-Chair of Indianapolis YMCA Capital Campaign
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“Active donor commitment is the enduring passion for your nonprofit. Inspiring donors is key for loyalty.”
- 101 Fundraising
Lifetime Value = Donor Commitment
Social Media
The goal of social media is to build a community:• Your followers are your online supporters – foster
them like anyone else in your database• Your community is different depending on what
network they choose to follow you on• Your Twitter followers expect different things than your
Facebook followers, just like your direct mail list expects different things than your email newsletter list.
Social Media
Integrate with your fundraising efforts:
• Promote events• Follow/interact with supporters• Share success stories (how funds are used)
Promote!
Interact!
Social Media
Integrate with your fundraising efforts:• Promote events• Follow/interact with supporters• Share success stories (how funds are used)• Encourage organization employees to be active on
social media (brand ambassadors!)• Do something different on each network (Facebook
vs Twitter vs Pinterest vs LinkedIn)
Playful vs. Professional
Example: LinkedIn vs. Facebook
Social Media
Follow the rule of thirds:• 1/3 your content• 1/3 other people’s content• 1/3 interaction/conversationIt’s not all about you!
Mix It Up!
Social Media
Track/measure your efforts:• Facebook Page Insights (free)
Social Media
Track/measure your efforts:• Facebook Page Insights (free)• YouTube Analytics (free)
YouTube
Social Media
Track/measure your efforts:• Facebook Page Insights (free)• YouTube Analytics (free)• Google Analytics (free)
Google Analytics
Social Media
Track/measure your efforts:• Facebook Page Insights (free)• YouTube Analytics (free)• Google Analytics (free)• Followerwonk (Twitter) (free)
Followerwonk (Twitter)
Social Media
Track/measure your efforts:• Facebook Page Insights (free)• YouTube Analytics (free)• Google Analytics (free)• Followerwonk (Twitter) (free)• Social Crawlytics (free)
Social Crawlytics
Social Media
Track/measure your efforts:• Facebook Page Insights (free)• YouTube Analytics (free)• Google Analytics (free)• Followerwonk (Twitter) (free)• Social Crawlytics (free)
Affordable Paid Tools:• Crowdbooster• Viralheat
Social Media Knowledge
Stay on Top of the Latest News:• HubSpot Blog/Newsletter http://blog.hubspot.com/
• Moz.com Blog http://moz.com/blog
• Social Media Examiner http://www.socialmediaexaminer.com/
• KISSmetrics http://blog.kissmetrics.com/
• Bloomerang Blog https://bloomerang.co/blog/
Try and Experiment Often• Daily if possible• Content is vital• Engage and converse
Automatic Engagement Factors• Recency and pattern of
giving• Cash donors vs. sustaining
donors• # of years giving +• Upgrade /
Downgrade + -• Lapsed -• Event attendance +• Opens email +• Click links in emails +
• Unsubscribes from email -
• Has stated communication preferences +
• Has inbound interactions +
• Has soft credits +• Volunteers +• Social Media
(coming soon)• …and a whole lot more!
Cue the ExpertS:
Dr. Adrian SargeantBloomerang Chief Scientist
Professor of Fundraising at the Center on Philanthropy at Indiana University holding what is presently the
world’s only endowed chair in that discipline.Top 10 Most Influential People in Fundraising
Renowned expert on Donor Retention and Donor Loyalty
Mr. Tom AhernBloomerang Donor Communications Head Coach One of the world’s top authorities on donor communicationsAuthor of 4 books on Donor CommunicationsWinner of 3 prestigious international IABC Gold Quill awards
Donor Retention Best Practices
Dr. Adrian SargeantBloomerang Chief Scientist
“A 10% improvement in retention can double the LIFETIME value of your donor database!”
“The total net contribution that a customer/donor generates during his/her lifetime in your database”
Defining Lifetime Value »
The Math of Donor RetentionThe Math of Donor Retention based upon Improved Retention of 10%
Original Retention Rate Improved Retention Rate41% 51%
Year Donors Avg. Gift* Total Year Donors Avg. Gift* TotalStart 5,000 $200.00 Start 5,000 $200.00
2 2,050 $220.00 $451,000 2 2,550 $220.00 $561,0003 841 $242.00 $203,401 3 1,301 $242.00 $314,7214 345 $266.20 $91,734 4 663 $266.20 $176,5585 141 $292.82 $41,372 5 338 $292.82 $99,0496 58 $322.10 $18,659 6 173 $322.10 $55,5677 24 $354.31 $8,415 7 88 $354.31 $31,1738 10 $389.74 $3,795 8 45 $389.74 $17,4889 4 $428.72 $1,712 9 23 $428.72 $9,811
10 2 $471.59 $772 10 12 $471.59 $5,50411 - $ - $ - 11 6 $518.75 $3,08812 - $ - $ - 12 3 $570.62 $1,73213 - $ - $ - 13 2 $627.69 $97214 - $ - $ - 14 1 $690.45 $545
# of Donors in Current 12 Months(from the previous years pool)
Divided by # of Donors in Previous 12 Months
Calculating Your Retention Rate »
Next Gen Database/CRM
Enables Fundraising Best Practices
Donor Retention/Donor Communications
Extreme Ease of Use
Relentless Focus on Results, not Features
Leading a “Revolution of Change”
