If your pond is not big enough, Erica Waasdorp has several suggestions that will make it bigger. In her recent webcast entitled, Major donors make the splash, monthly donors create the pond, Erica Waasdorp offered tips for launching and expanding a monthly giving program.
While monthly donors can’t afford to write checks equal to those of a major donor, this group of constituents is the most committed and loyal to your organization. Therefore, it’s necessary to have a set of strategies whereby you thank, acquire, retain, upgrade and test your monthly donors. Here are some of Erica’s tips.
- Always thank your monthly donors. Donors prefer to receive a telephone call over other methods. Revise your acknowledgement process to include a unique auto-responder on recurring donors who enroll online including what they will expect.
- Acquire monthly donors by placing visible links on your home page and menus. Promote your monthly giving as a specially named club.
- Retain monthly donors by including telephone and email information on your correspondence. Reach out immediately to those donors whose credit card transaction has failed.
- Upgrade monthly donors to a higher amount after approximately 9 months.
- Test and transform your constituents to see what is more effective at attracting monthly donors. Try to convert credit card payers into ACH donors. Add a pdf to your website to encourage signups.
Erica Waasdorp’s expert webcast was broadcast on April 20, 2016; you can download the slides for the Monthly Giving Expert Webcast here.
FREE Monthly Giving Starter Kit – Unlock the Hidden Treasure of Recurring Gifts
Six out of every ten donors will stop giving to your organization next year but you can retain more of your donors with the right fundraising strategy. DonorPerfect created this free Monthly Giving Starter Kit to help you retain more donors and raise more money, year after year.