January 14, 2016 | Categories Donor Management, DonorPerfect Fundraising Software, DonorPerfect Update, Monthly Giving

Get Your Board On Board with Monthly Giving

If the 5 reasons why you should start a monthly giving program in 2016 inspired you to pursue something new this year, you’ll likely have to convince your board that it’s worthwhile before you start prepping. That’s why we’ve rounded up stats and pointers that can keep your proposal quick, informative, and impactful.

Here are 3 Ways to Get Board Approval:

Tip # 1: Let the numbers do the talking.
Board members think in numbers, so it’s best to lead with them. Get a good estimate of exactly how much your organization could benefit from a monthly giving program with our Monthly Donor Calculator that’s available in DonorPerfect’s Free Monthly Giving Starter Kit.

The Monthly Donor Calculator keeps expectations in check, with a conservative estimate that calculates the impact of convincing how much revenue you’ll raise when just 3-15% of your donors to join your monthly giving program. (Although we’ve seen organizations with 20% all the way up to 60% of donors giving monthly!)

Tip #2: Emphasize the impact a monthly giving program could have on retention.
DonorPerfect research shows that organizations who have monthly giving programs increase donor retention for those donors from 43% to 90%. According to fundraising professor Adrian Sargeant, you’ll double the lifetime value of your donors by increasing your donor retention rate by just 10%!

Tip #3: Highlight the effect a monthly giving program can have on existing donors.
You can generate more revenue from existing donors if they sign up for your monthly giving program. In addition to giving to annual appeals, existing donors who choose to donate monthly could move close to major donor status. Look at it this way: If you’re able to bring a donor from giving $200 a year to giving $625 a year, that donor’s only $375 away from major donor status!