At the beginning of this linked article, the author points to research done by Roger Craver for his book Retention Fundraising which found:
“fundraising—the campaigns and appeals asking people for money — accounts for only about 20% of a donors lifetime value, with the vast majority of the value coming from communications and customer service.”
There is a ton of great analysis in this article, based on data from the 2018 Nonprofit Recurring Giving Benchmark Study.
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