Quality and quantity are easily confused in the nonprofit world. But when asked any other time, quality over quantity is a no-brainer.
Why? It’s probably because the information isn’t presented in black and white terms when we’re talking about donors. Organizations are constantly thinking more donors when we should be thinking more dollars.
So much time goes into chasing more and more donors that we forget about the actual goal of raising more money. At the 2014 AFP Conference, we caught up with Bloomerang CEO Jay Love to talk about why cultivating the relationships you have with donors is of the utmost importance.
Well, the key thing about it is it costs so much less to keep an existing donor than it does to go garner a brand new donor. And so many nonprofits are on this what I call the acquisition treadmill where they’re having to bring in new donors to replace the ones that are leaving.
Where if they would just spend a little bit of time, care and attention, those people would love to stay involved year after year after year. And then something very special happens about the third or fourth year. They start bringing other people in. It’s something we call stewardship. And it really blossoms at that point in time.