By Anthony Lehnertz
In the non-profit world, where great organizations require private support to operate, it is imperative that organizations have a steady and expected cash flow to pay for day-to-day expenses such as payroll and bills. So although non-profits appreciate a good annual gift, they often look over the fact that a monthly gift would be even better.
According to Network for Good, about 30-40% of online donations are monthly donations…so how do you get in on that slice of the pie? The following suggestions are four easy steps to take when trying to grow (or even start!) your monthly giving program:
Clearly Offer Monthly Giving
For starters, it would be pretty difficult to obtain monthly givers if you don’t offer the correct form. It is important that prospective donors know that they have the opportunity to set up a monthly withdrawal from their account instead of having to write a new check every thirty days.
Language is Key
In addition to simply offering the monthly withdrawal, it is important to express the benefits of monthly giving to both you as an organization and the donor. The organization benefits from monthly donations because they are expected and constant which makes it much easier for the organization to operate smoothly. For the donor, explain the simplicity of creating a monthly withdrawal and how easy it is to budget a small amount of money each month instead of a large sum at the end of the year.
Express the Emotional Appeal
The vast majority of donors prefer to give with their hearts rather than their heads. So by giving an emotion incentive, in addition to the rational reasons above, you are giving a donor very clear reasons why monthly giving is the way to go. An example of using emotional appeal would be an organization claiming that the donor can support or sponsor a new child every month of the year. This makes each gift seem much more impactful.
Finally, Ask Confidently!
The best way to entice someone to make a monthly gift is for you to truly believe the monthly gift option is best for them! Don’t feel awkward about telling a donor about the monthly gift option at the same time as thanking them for a recent annual gift. As Network for Good states, one-time or annual donors are most likely to convert into monthly donors within three days of their most recent gift. This tactic often works best at the end of the year because many donors are making annual gifts due to tax benefits or the holiday spirit at that time.
Just remember, monthly gifts truly are a win-win situation for the donor and the organization…so always offer the opportunity with enthusiasm!