Retain or renew: a real difference or only semantics? It seems to me the difference touches how we actually envision of our work. Is the focus one of raising money or of evolving a group of people who recommit (through their gifts) to the programs of an organization every year?
If we believe our responsibility is to successfully reach a financial goal, retaining gifts is the stronger focus. It is nice to have donors give every year but not a dominant goal.
If we believe our commitment is to encourage people to connect, create purpose, and significance with their gifts then renewal is the stronger focus. When donors renew their gifts they confirm trust, connection and experience.
Financial goals can be reached by focusing on retention or renewals. The big difference is the relationship and donor’s experience. The giving culture within your organization will reflect the focus selected. How do you think the relationship building culture would differ with the financial goal focus or with a donor-renewal goal focus?
What is the value of inspiring donors to renew their support for the organization’s work? If you would like support to increase donor renewal contact Penny for a free consultation. Send an email to schedule time at penny@renewablephilanthropy.com