The upcoming Fundraising Fitness Report highlights the key traits distinguishing thriving charities from their less successful counterparts.
The third winning trait in achieving sustained revenue growth is the ability to recapture lapsed supporters, which serves as an undeniable marker of success. On average, charities experiencing revenue growth achieve a 2% higher rate of recaptured donors, translating to a 2.8% surge in revenue from these rekindled connections.
A lapsed donor has previously supported a charity but has not made any monetary contributions, such as gifts or event bookings, for at least twelve months.
So, what sets successful charities apart? Their strategy for capturing, documenting, and leveraging communication consent is the answer. Their success in recapturing support is grounded in data-driven planning and a core understanding of their donor base.
Charities with strong recapture rates employ specific communication strategies tailored to lapsed donors. These strategies go beyond generic outreach, delving into a segmented and personalised engagement that resonates with past supporters. Surveys are pivotal in providing valuable insights into the reasons behind lapses in support and, more importantly, how relationships can be maintained and developed further.
The Fundraising Fitness Report underscores the transformative potential of recaptured income. For charities looking to fortify their revenue growth, investing in a targeted strategy for lapsed donor engagement is a core avenue to explore.
If you're curious about Winning Traits #1 and #2, watch out for our upcoming Fundraising Fitness Report 2024. Turn deficits into growth and identify high-growth KPIs, launching on November 30th, 2023.