There's no concern to data loss given that you don't have the Remove Plugin Data on Deletion? option checked on the Settings page, Reset tab.
Update Plugin Using FTP
- Deactivate the current plugin
- Download and unzip files locally
- Upload the directory to your website's /wp-content/plugins/ directory
- Be sure to overwrite your existing plugin folder contents
- Activate the plugin
Update Plugin Using WordPress
- Uncheck "Remove Plugin Data on Deletion?" on the Settings' Reset tab and Save
- Deactivate the current plugin
- Delete the current plugin - Ignore the WordPress data deletion warning, it's always there for plugins with uninstall methods.
- Upload plugin via WordPress Admin > Plugins > Add New, Upload tab interface
- Activate the plugin