Establishing a recurring giving strategy before online giving came into existence was nothing but a hassle. Organizations had to get donors to commit to make regular contributions either by phone or mail, and then often had to follow up with those same donors to make sure they followed through with their commitment.
If you were on either side of that situation, you know how inefficient and stressful it was.
Now, we have technology that makes it easier for your donors to give monthly, without the burden of forgetting, and your organization has the peace of mind that donors are following through with their commitment. Plus, now you can avoid all those awkward phone calls.
Even with all the technology available today, most organizations don’t have a solid recurring giving program.
Even if your organization has established a robust recurring giving program, you’ll want to keep reading!
1. Maintaining a recurring giving program is simple.
If you’re using a fundraising platform like MobileCause by Community Brands, you can offer donors a seamless and secure way to keep giving without missing a beat.
One of the best ways to do this is to set all your forms to ‘recurring’ as default. This is a sure way to let your donors know that they have the option to set up a recurring donation, and it takes the guess work out of wondering if you asked all your donors.
Another great way to remind donors recurring giving is an option is setting up smart pop-ups to give them an extra nudge.
2. Donor retention
The average donor retention rate hovers somewhere around 40-45%. This means if you receive 1,000 individual donations, by the next year only 400+/- donors will remain.
Establishing an easy way for your donors to choose if they want to opt-in to a recurring giving program will help boost your overall retention rate allowing your organization to keep more and more donors year over year.
A strong recurring giving program has the power to nearly double your retention rate. Awesome right?
3. Recurring donors give more
Every dollar counts! A huge benefit to recurring giving is that instead of receiving just one donation once a year, your nonprofit can receive that donation 12 times. It may not seem like a lot if your donor is giving $25.00 one time but set up as recurring can give your organization $300.00.
Recurring donors tend to stick around longer than one-time donors. That means larger donations for longer!
4. More time to focus on your mission
Recurring donations are money you can rely on. Every time a donor becomes recurring means more time for your organization to focus on the mission those supporters are donating to support. Any stewardship work you put in shows your supporters you are putting their funds to good use. All of that effort equals a greater return and more funds raised.
Make your organization’s recurring giving program work for you. Your mission relies on your donors so make it easy for them to support you!
Want More Information on Establishing a Solid Recurring Giving Program?
Our goal is to help nonprofit organizations create and manage successful digital fundraising campaigns, raise more money, and retain donors longer.
With us, your fundraising is less complicated for you, and supporting your mission is less complex for your supporters.
Request a free demo with one of our fundraising experts to learn, step by step, how we can help set up your campaigns while transforming your results.