Recurring donations: they are the life blood of a nonprofit for any number of reasons. While one-time gifts tend be larger, the monthly donor has a bigger financial impact over time. Additionally, recurring donors foster a deeper loyalty and commitment to your organization. Looking at the bottom line, recurring donations give you the ability to project and plan ahead to meet your goals and fulfill your mission.
Recurring donations is where it is at, which is why you should frequently review your monthly giving program to ensure its effectiveness. Before your next review consider these 5 quick-tips to help you maximize your program:
1. Talk about monthly giving on your website.
Many nonprofits have a donate button on their website, but may not adequately explain the benefits gained from their monthly recurring donors. Donors are on your site, prepared to give and compelled by your mission; let them know what has the greatest impact. Help them make an informed decision with their gift and inspire them to make their donation a monthly recurring gift.
2. Make your ask clear and direct.
“Donate and Feed the Hungry.” “Donate and Provide Clean Water.” “Donate and…” distill your ask down to a simple statement prominently displayed on your site. Donors want to know how their donation will be used and this simple, clear statement can go a long way to add confidence to the intent of their funds.
3. Engage one-time or infrequent donors giving $100 or less.
This is a great opportunity to thank these donors for their past generosity, acknowledge their impact, and invite them to consider becoming a monthly supporter. Let them know how significant consistent, monthly support is to your organization and why you are asking them to make this consideration. As we talked about in a previous article, donors value being shown the results from their last donation before you ask for another one. Remind them how their previous contributions have been used and of the greater impact their monthly contributions can have towards your mission. Be bold and remember that tangibles are critical.
4. Honor your younger donors.
When you engage with those giving less than $100 per donation, you are going to connect with many of your younger donors. Care for these donors well because as they grow their giving will, too. Invite them to become a monthly donor giving $5, $10, $xx and tell them why a gift of this size matters and still has significance to your organization. Your millennial donors will value the opportunity of becoming a monthly donor and to know their gift – no matter the amount – is appreciated (and works within their college budgets).
5. Ask About Monthly Giving After a Donation.
When you receive a one-time donation consider an email to thank them for their gift and ask if they would consider converting their gift to a monthly recurring donation. You can make the ask simple: all they need to do is reply to your email to make it happen. It’s a great chance to thank them for their gift and immediately provide the opportunity to convert that one-time donation into a monthly contribution. It also lets the donor know what a deeper commitment to your cause could look like.
Following through with these quick-tips can be an easy way to see greater gains from your monthly giving program. It’s all about appreciating what your donors have done for you now and communicating the opportunity to help in deeper ways. In all things be sincere and grateful whatever the amount. Your donors want to know they are seen, valued, and that what they do for you is making a difference in the lives of those you serve.