LAYING THE FOUNDATION
Here's the thing...you have a limited amount of time, energy, staff & other resources to do all that you do. (I think I just heard an "Amen!") 🙋♂️
While one-time gifts may be more popular among donors by default, that doesn't mean you should only ask for one-time gifts!
It takes just as much effort to ask a donor for a MONTHLY gift as a ONE-TIME gift - so go for it! Worst case scenario? You'll end up with a one-time gift anyway. Best case scenario? You'll receive an average gift of $25/mo that donors, on average, tend to maintain for 3-5 years!
Stable, consistent revenue for your org
No more chasing down donors year after year
Frees your time to focus on more creative fundraising efforts
MONTHLY DONOR VALUE
We know that a $10 monthly donor is more valuable to your organization in the long run than a one-time $100 donor.
We also know a one-time donor is more likely to become a regular donor if given a great experience & compelling argument.
Small monthly donors will continue to give month-over-month, year-over-year, often for an average of 5 years or more!
THE CHALLENGE + OPPORTUNITY
So how do you attract NEW donors and convince your current one-time donors to support your mission monthly?
Well, you have to give them a reason(s).
For NEW donors, this takes a bit more effort because they likely and understandably need more information and interaction before being willing to part with their hard-earned $. (You tend to research products and services before you buy them, right?)
They need to know:
Why do you exist? What problem are you solving?
HOW are you solving this problem?
Why do you need THEIR support, specifically?
Are you a good steward of your resources (fiscal)?
How are you different from/better than other charities in this market?
Why should I give YOU my $?
For your current donors, this is easier, because you've already convinced them at least once to make a financial sacrifice to you/your cause, but they now need to know why they should make that next step of commitment.
They need to know:
How much more of an impact will my regular gift make more than my one-time gift?
What perks/benefits will I receive to become a monthly giver?
What happens if I can't make my monthly gift? Will I be penalized or will I have to deal with a big admin hassle of addressing this with the charity?
If your organization doesn't know the answers to any of these questions (and/or if you don't have a way to quickly and easily communicate this with your donors when they ask, or these aren't already addressed on your Web site), this is your 1st step.
MAKING IT WORK!
What makes a monthly/recurring giving program successful?
Your donor receives an equal or greater value in exchange for their investment.
What do recurring donors value? IMPACT & REWARDS
Recurring donors want to know why their recurring donations mean MORE to you than a one-time donation.
Do their funds support a specific initiative you have (campaign or branch of your mission)?
Do their funds support "general operations" (message: "Without YOU, we couldn't do what we do") or your "area of greatest need" (message: "You help us ensure that help is provided where it's needed most.")?
Recurring donors want to be treated differently than your one-time donors.
Are you offering them an invitation to be a part of an "exclusive club" within your organization that receive special perks & benefits?
Do they receive perks/benefits like insider information, early-access to program updates or event invitations, physical items ("Swag Bag" - your T-shirt, mug, tote, etc.), "chance-to-win" opportunities, etc.?
Ready to Get Started?
Need Some Inspiration?
Check out how our Founder, Miraj Patel breaks down the value of recurring giving 👇