9 Quick Tips to Create a Great Monthly Giving Program
Monthly giving (sometimes known as recurring gifts) is the most popular method of non-profit fundraising. Monthly giving programs provide a stable income source for your non-profit, while huge donations are still valuable and should be pursued.
A monthly giving scheme can help you be a nonprofit and avoid dealing with erratic donations. It can give a reliable source of income and aid in the maintenance of a sound financial foundation. A person can set up recurring donations as a form of regular donation. It enables them to designate a monthly giving amount.
1) Develop a donor-friendly program
The most crucial step in beginning a successful monthly giving program is to create a written plan that specifically addresses the donors.
Before moving on to the next step:
- Consider your options.
It will be difficult to comprehend what you need to attain your goal if you don’t have defined goals for your recurring donation program. It also makes it more difficult for your donors to see how their contributions contribute to the larger picture. Answer some of the questions along with your team:
- What do we hope to accomplish with recurring contributions?
- What does monthly giving have on our programs and mission?
- If we achieve our goal what happens?
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Make Objectives
Set precise goals after analyzing the basic ideas and how the recurring donation programs fit into the overall strategy of your non-profit.
- How many monthly donations would you like to get each month?
- About increasing regular monthly donations?
- whether you’ve succeeded? Continue to the next step when you’ve answered these questions;
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Consider the finer points.
Consider the finer points of your program, such as the following:
- The program’s name is (if any)
- The engaged audience
- Monthly donation amounts recommendation.
- Promotional materials
2) Brand the structural donation program
Naming your monthly giving program will add fuel to the fire and demonstrate to your donors that they are a part of something special. Your monthly donors will feel more cherished if you show them that they are a part of something bigger than themselves.
On your monthly donation page, think about using social proof. Sociological proof is a significant psychological and social phenomenon in which people assume the activities of others to depict appropriate behavior in a certain setting.
In essence, it means that people follow the example of others.
Add testimonials and images of current monthly donors, their names, or anything like “you will become a member of our program” to capitalize on this phenomenon.
3) Structural donations
Examine your donor database to discover contributors who are most likely to join a recurring gift program before you begin promoting your monthly giving program. In general, those who donate lesser sums may be more suited to a monthly giving program than those who give greater amounts.
Pay special attention to donors who contribute modest amounts regularly (a few times a year). When it comes to settling on your monthly viewpoint, the frequency of your donations is more essential than the size of your donation. Use this data to identify donors who might be interested in donating every month.
It will increase the legitimacy of your program and enable you to gather feedback on everything from the sign-up process to the thank-you email.
4) Promote the recurring gift-giving program
It makes no difference how good your program is if no one knows about it. So get your program out there and promote it.
But before you start promoting it, you need to figure out what its value proposition is. To put it another way, why would anyone want to become a repeat donor? What are the advantages for them, as well as for your non-profit? Experiment with different techniques to highlight your value proposition.
After contacting your staff, most active volunteers, and a small but frequent group of supporters, don’t be afraid to reach out to everyone!
Send out calls through all of your outreach platforms, and on your non-usual profit donation form, include a monthly donation option. Volunteers should be mobilized and sent out into the streets.
Allow your volunteers to inform passers-by about your non-mission profits and your new recurring donation scheme.
Check with previous donors to see if they’d be interested in donating every month. Inquire of previous donors as to what is preventing them from donating regularly or why they stopped giving and attaining their goals. You should try to persuade them to return to your non-profit. To market your program, make use of all accessible channels. Email, social media, direct mail, newsletters, printed advertisements, Google Grants, events, and street fundraising are all good options.
Don’t be scared to ask for enhancements and extra donations. Each year, plan one or two integrated upgrade initiatives.
5) Show it all on your platforms
Create a separate page with information, videos, photographs, and testimonials from your contributors and beneficiaries dedicated just to your monthly program.
Your software should also be given some prominence on the front page, where it will be easily accessible. It makes the program more accessible to potential donors who want to contribute monthly. Make sure the tone of the message matches that of the website when sending requests or otherwise promoting the program. You want potential donors to visit the website and see uniformity and cohesiveness.
6) Invest in donation management software
If you want to make monthly donations a reality, you’ll need donation management software. Fundraising software simplifies the process of creating donation pages and provides several features and benefits, including:
- Recurring donation options are available.
- Donors can change the frequency of their recurring gifts at any time.
- Custom sums with descriptions pre-filled to give your contributors confidence in what they’re donating.
- Employer-sponsored gift matching programs.
- Desktop PCs, mobile phones, and tablets are all optimized.
- Donations can be accepted through your Facebook profile.
- To encourage additional donations, a “thermometer” for donations has been created.
7) Have a reliable data management system
A donor management system that automates the sign-up process and handles donor contact information is critical for non-profits. Make the program as simple as possible! Credit card expiration dates will inevitably be exceeded, making debiting impossible, and bank account numbers will have changed, among other things.
Keep an eye on these challenges and engage with your donors regularly.
8) Show donors results
Many non-profits use infographics and, on occasion, facts and figures to show where supporters’ money is going. One of the most effective methods to do this is to link each gift amount to a specific outcome.
9) Nurture the relationship
You and your donors may benefit from a monthly donation. Many of the payments, as well as the associated administration, are automated. It isn’t to say that your non-profit shouldn’t cultivate a relationship with its donors.
Begin the relationship by welcoming your monthly donors with a red carpet welcome. Within 48 hours of signing up, send them a welcome email (or automate this process as well). It’s also critical to thank your donors not just after their first donation, but also regularly (and with sincerity) throughout the year.
Keep your monthly donors informed with photographs, stories, statistics, and other tangible instances of how their contributions have aided the cause regularly. However, don’t just send numbers. In your communications with your donors, including stories. Storytelling is a great way to raise money and ask them to donate to Catholic Charities to get all the blessings.
Consider presents, special updates, images, and chances to win trips to locations where you do business.
Conclusion
To summarise, recurring giving is an excellent fundraising strategy for your non-profit since it allows you to:
- Have a consistent income source throughout the year.
- Organize a group of people who will back you up.
- Monthly contributions are a crucial resource for today’s non-profits.
It’s difficult, yet satisfying, to build a successful recurring donation program. Developing a long-term relationship with committed contributors who support your organization regularly makes all the difference.
