How to Crush Donor Retention with SMART Goals, Bestie-Style!

You’re juggling it all, Bestie — donor outreach, event planning, managing volunteers. Focusing on donor retention can feel overwhelming, but what if I told you that the key to success is setting clear, actionable goals? Not just any goals — SMART goals!

SMART goals — Specific, Measurable, Achievable, Relevant, and Time-bound — are your roadmap to making real progress in donor retention.

But how do you figure out what goals to set, and how do you avoid overreaching?

Here’s how you can calculate realistic retention goals, ensure you’re not overcommitting, and set yourself up for success

Before setting new goals, you need to know where you currently stand. Take a look at your past donor data to calculate your current retention rate. Here’s a simple formula to get started:

Your donor base isn’t one-size-fits-all, so neither should your retention goals be. Instead of creating a single retention goal for all donors, break them down into segments based on giving habits, engagement level, or donor type. Common segments might include:

• First-time donors: Retaining these donors is often harder but critical to long-term success. You might set a goal to increase retention among first-time donors by 5%.
• Recurring donors: These are your loyal supporters, and retaining them should be a high priority. A realistic goal could be to increase the number of recurring donors by 10%.
• Lapsed donors: For donors who haven’t given in over a year, set a re-engagement goal. This could be as simple as reaching out and aiming to convert 20% back into active supporters.

Each segment may have different goals, ensuring you focus on the most critical areas without overcommitting to a one-size-fits-all solution.

It’s tempting to aim for the stars, but your goals need to be grounded in reality. To avoid overreaching, calculate how much time, budget, and staff capacity you have to allocate to donor retention efforts.

• Time: If your team is already stretched thin, you might not have hours each week to dedicate to new retention strategies. In this case, start small—maybe focus on automating thank-you emails or scheduling one extra touchpoint for key donors.
• Budget: Do you have a budget for donor retention software or materials? If not, consider starting with low-cost efforts like handwritten thank-you notes or personalized social media shout-outs.
• Staff Capacity: If you’re working with a small team, delegate donor retention tasks or recruit volunteers to help with things like donor appreciation efforts.

Once you understand your resources, you can better calculate what’s possible. For example, if you don’t have the capacity to execute a major donor engagement campaign, don’t set a goal that relies on it. Instead, focus on high-impact, low-effort tactics like segmenting your email lists and automating follow-up communications.

When setting donor retention goals, it’s essential to start with small, manageable increments. Instead of aiming for a massive 50% increase in retention, consider setting a more realistic goal, such as improving by 5% over the next six months.

Why small increments?

Because they’re easier to achieve and give you momentum. Each small win builds confidence, allowing you to gradually scale up your goals over time. Plus, incremental improvements are much more sustainable than trying to tackle everything at once.

Let’s say you currently have a 40% retention rate. Rather than aiming for a drastic 20% increase, set a goal to boost it by 5% over the next quarter by focusing on personalized outreach to first-time donors.

Once you hit that milestone, you can set a new target for the next quarter.

One of the best tools you have in your retention arsenal is donor data. The more you know about your donors’ behaviors and preferences, the better you can tailor your retention strategies. Start by analyzing your donor data to spot trends:

• Donation Frequency: Are there certain times of year when donations spike? Use this information to time your retention efforts more effectively.
• Preferred Communication Channels: Do your donors respond better to emails, phone calls, or social media updates? Focus on the channels that drive the most engagement.

By leveraging your donor data, you can refine your retention goals and make them even more achievable. For example, if you notice that donors are more likely to give after receiving a personal thank-you note, you can set a goal to send personalized notes to 50% of your donor base in the next three months.

Setting realistic, achievable retention goals takes time and strategy—but you don’t have to do it alone. The Bestie Blueprint Toolkit comes with customizable templates that make goal setting and tracking a breeze. Whether you’re aiming to increase first-time donor retention or boost recurring donations, our toolkit will help you stay organized and focused.

Ready to put these strategies into action? Download the Bestie Blueprint today and start setting SMART goals that will take your donor retention to the next level!