Do you remember your first date? Depending on your age, you may vividly recall messing up your hair just so, so it looked like you had just rolled out of bed. Or maybe you pulled on your lucky leggings. Or emptied the tube of gel to get your hair absolutely awesome. Or picked out the perfect glasses (no lens, of course) to project the millennial look du jour.
I remember mine … pulling up my knickers, hitching up the horse and buggy …
More recently, I met with a new client to begin the onboarding process, and after spending the day, thought “aaaah…” So refreshing to be with someone who still likes us,” which made me think of first dates.
Everything is new and wonderful, and everyone is on their best behavior to impress the other party and make this the best relationship ever.
Which begs the question: How are you treating the “first date” new donors you recently acquired?
You just asked out 143 girls, guys, whomever to get ONE DATE. That’s assuming a 0.7% response rate to your new donor acquisition mailing, which is pretty good these days. You asked 143 people out and finally ONE said yes.
I feel better now. It only took me about ten asks to get a “yes” in college.
My point? Your new donors are special. They are gold. They are your future.
Every bit of research on the subject makes it clear that the faster you connect with each new donor, make her feel appreciated, let him know how his gift was used, thank her for her caring spirit – the higher the lifetime value (LTV) of that donor.
Faster second gift means better retention means more lifetime gifts means higher LTV.
So think carefully how you treat each new donor. The faster you text or call to say thank you, get a letter in the mail, send a follow up email thank you, the more likely that first date is to become your life partner.