What Is A Donor Upgrade?
A donor upgrade refers to the third phase of the donor lifecycle. This is the part of the donor lifecycle where the nonprofit organization should encourage a donor to increase their donation from their previous giving amount.
How Does A Donor Upgrade Come Into Play In The Donor Lifecycle?
The upgrade phase is the third phase of the donor lifecycle. To get to the upgrade phase, new contacts must be made, new donors must be acquired (Donor Acquisition), and those donors must be retained after a period of time (Donor Retention). Only then can the organization work to convince those donors to increase their giving amount above what they previously donated.
Why It Matters
Knowing who to target to increase their giving and how much to ask for is important for nonprofits when it comes to securing sustainable revenue. When you understand upgrading, you can bring in more money to your organization. If you miss this opportunity or act without being informed by data, you risk losing the donor altogether.
Donor Upgrade In Practice
Some donors should be engaged to increase their financial commitment to your nonprofit. Knowing who that donor is and when to target them is all part of the upgrade phase of the donor lifecycle.
Want to learn more about how the donor lifecycle can improve your relationships with your donors? Download our Ultimate Guide to Optimizing Your Donor Lifecycle for free!