Recognizing the value of a donor as they tell you about their plans
Along with the Donor Cultivation Cycle, donor stewardship is another essential concept to master as a development professional. While cultivating and soliciting a donor properly helps secure the gift, proper donor stewardship ensures that the donor transforms into a loyal supporter and advocate of your cause.
According to Indiana University’s Adrian Sargeant, it costs about five times as much to attract a new customer than it does to retain a loyal one. Donor retention represents a financially-responsible way to build a sustainable fundraising business model, while also cultivating meaningful relationships with donors.
Stewardship involves saying thank you, but contains so much more. Stewardship also includes:
Learn more about donor stewardship with free stewardship resources from MajorGifts.com.