Solvent Speaks: The Stewardship Series
Quarter 1 Strategies that Keep on Giving
Exhausted from the frenzy of securing major gifts at year’s end, many fundraising professionals view January as a time for recovery rather than discovery. But we’ll let you in on a secret: starting January with a solid major gifts strategy puts you ahead of the game. Adapt our quarter 1 stewardship plan to your organization. Smart planning at the start of the year will help you leave the year feeling exhilarated, not exhausted!
Analyze Donor Data
The start of a new year is a great time for self and organizational reflection, so seize the moment and dive into your data. Historically, the national donor retention rate from year to year hovers around the 40% range, which leaves room for improvement. It’s much more expensive to cultivate and solicit a gift from a new donor than to cultivate or reengage someone who is (or was recently) engaged in your mission. Use January to evaluate and understand donor giving trends. When you analyze your donor data, review how you achieved your goals in the prior year. If you didn’t meet them, figure out why. Did a donor’s giving drop off after a change in staffing, priorities, or a lapse in communication? Similarly, pay attention to donors who give the same amount year after year. This often indicates their long-term affinity for your mission, but may also signal an opportunity to ask for larger gifts. Increased, deeper engagement throughout the year may inspire larger gifts at the end of the year. When a donor relationship is thoughtfully stewarded throughout the first three quarters of the year, you often have a much better understanding of gift intent heading into quarter four.
Connect in the New Year
Connect with donors after the holidays, when they have time to take your call, read your note, or respond to your text. Determine which touchpoints are preferred by your supporters and connect with a set number of donors per week. When you make contact, thank them for their generosity and share initiatives slated for 2024. In addition, ask them for feedback on your mission. Block this time on your calendar so that you build it into your weekly routine – and stick to it. You may even partner with another teammate to encourage accountability and follow through.
Set Coffee Meetings
The run up to tax season prep keeps charitable giving in focus. Take advantage of the colder months to plan coffee meetings with donors at a local cafe. Keep conversations meaningful, sprinkled with stories that convey the value of each gift. This is often the time of year that folks have the least number of distractions.
Donor Advised Funds and Qualified Charitable Distributions
Donors make decisions regarding their giving from donor advised funds and IRAs early in the year, so quarter 1 is the time to connect. Also, corporate donors set marketing dollars for qualified charitable distributions in the early part of the year, so now is the time to keep your organization top of mind.
Begin the year with intention, transparency, and gratitude. Give your fund development program a fresh start; contact our team for expert guidance today. Please look for future insights from our Stewardship Series throughout 2024. Wishing you a prosperous start to the year!
