| : | Right now, the point that I'm trying to make to you is your task is one: How do I build my knowledge and strategies to be able to acquire the stakeholders that I want? Once I've done that, I have to figure out how do I retain them? You know why? Because global research has proved across sectors, across industries, the cost of acquiring one new client over retaining a client is seven times the money. The cost of acquiring a new client versus retaining an existing client is 7x because either you are going to invest in marketing or advertising, or your sales person is going to go. You're going to go. If you total up all those costs and look at what does it take to acquire a person, a donor, versus making sure that donor stays with you. As a fundraising head or person responsible for the money, do you start off by setting targets? I want to, in '15-'16, acquire this much money from these number of donors of these categories: corporate, HNI, retail, whatever that might be. Do I have the retention targets? |