Boost Monthly Giving in Your Fundraising Appeals
Experienced annual fund managers say that when you convince donors to give using monthly credit card or bank drafts, their annual renewals are higher. Membership organizations agree with this. Personally, I’ve had one charitable bank draft going for 30 years – it takes initiative to cancel it, and you feel guilty if you do! There are many people who can afford $10 per month but can’t afford a $100 check right now. Gaining them as sustaining donors at an affordable monthly rate may result in a larger gift or bequest years down the road. Here’s how you can change your response card to boost monthly giving participation.
Monthly Giving in Your Donation Response Card
More Prominent Monthly Giving Language
Most monthly giving language is an option buried in all the other text on a reply card. Several of our clients feature recurring donations at the top of their donation response forms. Monthly giving, and the smaller, more reasonable donation suggestions are the first giving options they see. The goal is to develop a lifetime giver, even if it starts at a very small amount.
Note that the credit card draft continues until the credit card expires. You’d then call the donor to get a new expiration date, so organizing that – or sending out a renewal reminder when the expiration month comes around – is an essential part of the plan to keep these monthly donations on track.
Recurring Donations in Your Donation Request Letter
Donor Segmentation
First, pick segments that will benefit from the opportunity to give monthly. Some experts like Mal Warwick say that, to ramp up your monthly donor program you need to select a segment of loyal, low-dollar-amount donors This could be anyone from recent graduates of your college, to nondonors, to lapsed donors whose previous annual giving was less than $250.
Send a Special Monthly Sustaining Solicitation Letter
This letter should provide a brief but thorough explanation of your recurring donation program. You also must include reasons why switching will benefit both the donor and the cause.
It’s important to be aware that very few donors will sign up for monthly giving on your donation response card. The majority of monthly donors sign up on your giving webpage. By introducing recurring gifts on your response card, you are anchoring them to the idea when they visit your donation page—so make sure you highlight monthly giving there, as well! Once a donor has established a recurring donation, their relationship with your organization is proven to be longer-lasting and beneficial for you both!
Want to incorporate monthly giving into your nonprofit fundraising strategy?
Five Maples can help you include monthly giving in your appeal package with meaningful copy, thoughtful design, and easily establishing monthly ask amounts based on giving history.
Contact us today at garyh@fivemaples.com for a free consultation.
