10 renewal tactics to understand
September 8, 2015 The NonProfit Times
In the effort to make big donors bigger or land new donors or reclaim lapsed donors, it can be easy to overlook an important source of support: existing members. They are there, and they are willing to help, but they cannot just be taken for granted. In addition, they can also be a source of upgraded donation levels.
During the 2015 Bridge to Integrated Marketing and Fundraising Conference, Mae Daniller and Martha Ernst of Daniller + Company and Marianne Maxwell of The Barnes Foundation said that stewardship of renewal is important and that it can be accomplished with a minimum of agony.
They offered the following tactics and considerations about renewals:
Look at renewal results monthly and quarterly.
Knowing renewal numbers allows an organization to react quickly.
Even a small adjustment can make a big difference.
Some changes can be implemented at no or little cost.
Test within renewal series to see if results can be improved.
Membership renewals provide a reliable, secure income stream.
Renew the organization’s renewal program schedule, creative and messaging.
Know the organization’s renewal metrics, and revise and test accordingly.
Make upgrade campaigns an integral part of the organization’s fundraising program.
Stewardship and membership satisfaction are the Number One drivers of renewal performance.