FIVE WAYS TO ENCOURAGE MONTHLY GIVING
Structured and well thought out monthly giving programs are the building blocks of successful fundraising.
In a sector where countless worthy causes all vie for the donated dollar, monthly giving is a reliable program that can help predict future revenue, lower administration costs and build relationships with donors.
Furthermore, monthly giving provides numerous benefits to donors. Having a donation debited automatically helps donors know where they stand financially and empowers them to do their bit without adding an extra thing to the ever-growing to-do list.
Here are five ways to encourage monthly giving to secure the future of your charity.
- Ask existing donors
The number one reason donors give is that somebody asked them. This is no different when asking givers to donate monthly.
By analysing the giving history of existing donors, it's possible to identify those who might consider giving monthly.
Create a targeted email campaign and segment the database based on those who give to every appeal or have made multiple donations in a year (for example). Create an email campaign explaining the benefits of monthly giving with a powerful testimonial and send at a time the donor is most active.
Some things to include:
- Future plans for the charity
- Highlight the benefits to the donor
- Financial and charity targets
- Benefits to the organisation
Monthly giving simplifies the process for supporters so explain these benefits and make it logical for them to transfer to monthly giving.
- Explain the impact of monthly support
Donors may look at their $5 or $10 monthly gift and believe that it doesn't make much of an impact. We know that every dollar adds up, but potential monthly givers need to be told why their support is essential.
Explain how ongoing support will help further your mission in the community. While the benefits of continuous support may be lower administration costs, this means you can make forecasts to implement a new project or program next year. Donors want to see a tangible outcome for every cent of their support.
- Talk to them separately
Once a donor has committed to monthly giving, all correspondence must be tailored towards their ongoing support to build and strengthen relationships.
Donors often like to make a more significant gift at Christmas or around tax time. There's absolutely nothing wrong with including them in the general appeal pool however their correspondence must be personalised to acknowledge their monthly gift.
- Make regular giving an easy choice on your website
The donation page on a website should include an option to give monthly.
By the time a donor lands here, they already have their credit card in their hands, and they're ready to part with their hard-earned cash. Create a compelling call to action at this point and make it clear and easy for them to go one step further and commit to monthly giving.
Address potential objections and highlight that there is no lock-in contract, and they can change their level of support at any time.
- Give incentives
Donors don't usually appreciate receiving expensive gifts in exchange for their support, but that doesn't mean you can't incentivise them.
Create a monthly members club and invite them to regular events or send a ‘small' token of your appreciation, such as a keyring or paperweight. You could even highlight their name in ongoing publications or on commemorative plaques (with their permission).
Showing gratitude with tangible gifts will make donors feel like their ongoing contribution is valued and will also keep you at the forefront of their minds.
When implemented correctly, monthly giving has the potential to become a charity's most profitable and beneficial program. SupporterHub can help manage data to streamline communications, design and send sophisticated email campaigns, and help you get to know donors on a more intimate level to encourage monthly giving.
Contact us today to arrange a free trial for your charity or non-profit.