Recurring donations are a step towards sustainable fundraising. Here’s a quick head start to encourage your supporters to make a monthly donation.
Small Action x Lots of People = Big Change
But what if nonprofits change this equation? What if organizations multiply small actions several times for a big change?
Monthly gift programs increase donor retention and expand your NPO’s revenues and projects. Small and mid-size organizations step upon several opportunities to realize their mission. Yet, there is a constant struggle to raise continuous funds for actionable impact. By securing reliable revenues from recurring donors, charity organizations can better manage their fundraising strategies.
1. Underline the long-term impact
Most donors do not realize the importance of small and frequent contributions. Try to lever the concept of long-term sustainability to help followers understand this. Describe how predictable revenue helps in project budgeting and plan programs responsibly.
Educate donors about the end goal. Make your case for recurring gifts by customizing your suggested donation amounts. Describe how each contribution will create actionable impacts at different levels. Check out this latest post caption by @destinyofhappiness on Instagram.
Also, ‘Save the Children’ (see below) tie their cause of educating a child to a lifetime of earning potential. Emphasizing greater impacts elicits a better emotional response. It also encourages donors to give more often.
2. Create your donor community
While marketing recurring campaigns, make the supporters feel that they belong to a meaningful community that creates a powerful impact. Weave this concept into every copy you create for your donors. A community binds donors together and boosts your social media efforts. It also creates a stable revenue stream for upcoming projects.
Pencils of Promise has built a community for monthly donors called the Passport. It portrays a collective journey where donors contribute to a common cause. Passport members receive monthly reports and exclusive information on the ongoing project. The organization goes above and beyond to acknowledge supporters on social media.
3. Perk it up!
Donors do not make a monthly donation in expectation of getting something back in return. Warm glow is a real thing! A report by Giving USA reflects that only 20% of donors are more likely to donate money if they get a gift in return. But you can still reward them in creative ways.
a. Develop donor tiers. Acknowledge recurring donors with credits like ‘Superdonors’ or ‘Champions’. This builds social proof around your campaign and makes your supporters feel special
b. If your nonprofit has a store or produces local products, gift your donors on different occasions. Like for instance, the anniversary of their first donation
c. Sweeten the deal by securing a match for the first month or so. Reach out to sponsors or influencers to drive this effort
d. To emphasize social ROI, send your supporters a slick PDF or printed copy of your annual report. It’s a great way to share your impact and celebrate your victories. This also provides an opportunity to thank donors, and get them engaged for the year ahead
4. Reach out, intelligently!
Want to make effective use of donor data? Segment your supporters into meaningful groups based on demographics or giving history. Lean on to a centralized platform to gain valuable insights about the donor database. Good news for nonprofits with a Hopeful subscription! Our intelligent tools spot your existing recurring donors so that you can tailor your communications for them.
Data segmentation from various sources (your website, social media platforms, partner organizations, etc.) helps to identify potential donors. The patterns help you with prospect research. You can identify which supporters are most likely to convert into recurring donors. Donation frequency, gift size, and engagement levels are all key metrics to point that out to you.
Maintaining a steady stream of monthly donations for nonprofits boils down to strategic planning. Of course, all donors are valuable for your projects. But you want to focus on the sustainers (your recurring donors) to tap into donor potential. A blend of ideas such as those mentioned above can help you keep the boat floating.
Did this piece inspire you to tune in your focus to monthly giving? Drop us a note in the comments section below!