Estimated Reading Time: 5 minutes Asking Your Donors to Give Again Are you asking your new donors to give again? If not, you should be! Why donor retention is a big deal There are three big reasons why you should be asking your existing donors to give again. And—surprise—they all have to do with raising more money: 1. It costs more to attract new donors than to retain existing ones. Research has shown that it costs ten times more to acquire a new donor than it does to keep a donor. That’s right, 10X more! So if your current fundraising strategy is all about finding new donors, you’re not making the best use of your resources. If you want to raise more money, you’ll need to dig into your donor database to find out who’s already primed to give. 2. Even small contributions can add up to a large Lifetime Value. If you’re running your nonprofit like a business, you should know how much your nonprofit spends to acquire a single donor (your Donor Acquisition Cost or DAC for short). While it may cost more to acquire a donor than they contribute at first, the Lifetime Value they provide can justify your spending. Lifetime Value refers to the net amount … Continue reading Asking Your Donors to Give Again