Modernize Your Monthly Giving
Monthly giving is an incredibly powerful fundraising method that provides your nonprofit with a steady, reliable stream of income. The average monthly online donation is $52 ($624 per year) as opposed to the average one-time gift of $128. According to Network for Good’s donation data, the average recurring donor will give 42% more in one year than those who give one-time gifts. Monthly donors also have a greater lifetime revenue per donor. On top of that, 45% of donors worldwide are enrolled in a monthly giving program.
In addition to a greater lifetime revenue per donor, monthly donors also have higher retention rates than one time donors. It’s also a concept that is easy for donors to understand and integrate into their lifestyle. Your supporters are accustomed to a monthly schedule. They are typically paid on a monthly schedule. Likewise, donors pay their bills and subscriptions on a monthly basis, too. With these recurring gifts, supporters sign up once, and their gifts are made automatically, allowing them flexibility and convenience.
And, donors are all about convenience. Online giving continues to grow exponentially each year. According to the 2018 NGO Giving Report, 54% of donors worldwide prefer to give online with a credit or debit card. Increasingly, people are turning to the internet and social media to conveniently donate to nonprofits they care most about. While direct mail and email have their benefits, your online presence on social networks provides a sense of community. Social media allows your organization to have a conversation with a multitude of donors—better yet, multiple conversations with even more potential donors who want to be involved.
By making a concerted effort to market monthly giving online, you have the opportunity to create a dependable, consistent stream of donations that has great potential to increase in the future. Check out our top 5 strategies for marketing your monthly giving programs:
Use Unique Branding.
Your recurring giving program will perform better if it has its own branding. It should be bold, creative, and memorable. Your organization should take the time to develop an entire marketing plan for your monthly giving efforts. Marketing plan elements should include designing a monthly giving landing page, email communications, direct mail, and social media. Creating unique branding for your monthly giving program may require some hard work and time, but your efforts are worth it.
Storytelling is key.
Recurring donors need to care about what you’re doing. Marketing your monthly giving program is all about telling a compelling story. By sharing the story behind your organization, you help your donors connect to your organization’s mission on a human level. Telling your story sets your nonprofit’s mission apart from others and makes it easy for donors to understand how their monthly commitment is a part of the solution. Furthermore, you’re inviting the donor to become part of the story by joining your monthly giving program.
Grow Your Support with Hashtags.
Create custom hashtags so that others may follow the progress of your recurring giving program. Hashtags are a great tool for reaching different audiences that you might not have reached with a regular Twitter or Facebook post.
Make an Impression with Impact-Driven Visuals.
People give because they want to do something good, so give assurances that good things will happen due to their donations. Show your supporters the importance of monthly giving and let them know exactly where their money goes. The ability to articulate impact is crucial for nonprofits that want to build meaningful relationships with their donors. Captivating and creative images explaining how different monthly donation amounts make an impact are incredibly effective. For example, $20/month provides 5 children with meals for a year. When possible highlight the specific efforts your recurring gift program supports.
Organize an online/social media event.
Social media provides an excellent opportunity to promote your mission and your efforts in real-time. You can join Facebook chats, live-tweet from your event or post on Instagram stores to share what’s going on with your nonprofit. Supporters are can join in, comment, like and share these posts. Online events do a great job of making donors feel like they belong to your community, and have the benefit of providing them with an opportunity to learn more about areas of particular interest, offer opinions and advice, and get their questions answered.