In a previous post, we discussed why every nonprofit should prioritize monthly giving and how to develop a program that works. While major, annual gifts from large fundraising events and year end appeals are critical, recurring gifts provide predictable, stable income to your nonprofit. It allows you to feel more monetarily secure.
The value it offers to your organization is evident. What’s better? Monthly giving offers donors the chance to make an impact, regularly. Unlike large and infrequent gifts, recurring gifts make donors feel like they’re contributing to your mission consistently. They’re connected to you and support you through the ups and downs.
To develop a monthly program, you need a sound plan to ensure that those recurring gifts keep coming in. Here are six steps to follow.
1) Establish a Message
It all starts with asking your team important fundamental questions. What is your organizational goal for the program? What is the message you want to convey? How will you deliver this message?
2) Determine Timelines with your Team
How often are you advertising to potential monthly givers? When should you update recurring donors on your progress? Who will be in charge of monitoring responses to your emails, letters and calls?
Eleo donor management software has a mini-project manager to help cultivate and manage these timelines. Assign projects to teammates, complete to-dos and sync tasks to donor records for a fully featured calendar experience.
3) Set Up Your Online Donation Pages
A donation page is an online form where donors can give your organization money. You are probably familiar with ‘Donate Now’ buttons and donation forms on nonprofit websites. These are so important!
You should have an online donation page specifically for your monthly giving appeal. This allows you to have buttons on your website, emails and social media pages that link directly to this page. This makes it as easy as possible for donors to set up their recurring gifts.
Eleo allows you to create unlimited online donation pages within your donor database, at no additional cost. Customize and brand your Web Forms to match your website and send your monthly giving message in style!
4) Give Donors a Heads Up
Before you send out your first monthly giving appeal, let your donors know that you’ll be offering an option for recurring gifts. Think of it as an introductory letter. Explain why you’re launching the program, how it will work, and how the donor will be making difference with their recurring gifts. Set up a timeline with your team to determine when the actual appeal will be sent. We recommend sending within a few days.
5) Track Activity and Respond Accordingly
You will see that donors may fill out your donation form but do not enter their credit card information. It can be frustrating to not know why someone stopped their donation before giving. Thankfully, Eleo tracks this for you. In your Web Form portal, see who completed your forms and those who stopped halfway.
Follow up with these potential givers is critical. For donors who were so close to giving but stopped, pick up the phone. Make yourself accessible. Ask them what you can do to better improve your experience. Hearing a compassionate human voice will put them one step closer to a monthly giving commitment.
6) Acknowledge New Donors
Announce new donors to your nonprofit’s supporters! Some experts suggest option such as – including a specific area for recurring donors in your newsletter, listing new donors on your website, or giving each new donor a personal shout out on social media. If the donor would prefer to stay relatively anonymous, you could instead send them a welcome kit and a personal thank you letter to acknowledge them privately.
Eleo donor management software offers all features and capabilities mentioned above, and all are included in your monthly fee. Schedule a demo and find out how Eleo can help you plan and execute a successful monthly giving program.