A monthly giving program is the most effective and effortless way to retain #GivingTuesday donor support beyond the 24-hour social media buzz. On average, nonprofits who launch a monthly giving program using DonorPerfect boost their donor retention rate by up to 90%, so it’s important to spotlight your monthly giving program on social media, emails, and your donation form itself for Giving Tuesday.
Given their post-college financial constraints, millennials prefer the ability to show their support without a huge financial commitment, which is why 52% of them say they’d be interested in setting up a monthly donation toward a cause they care about for a small amount they’ll barely notice.
While a $10 a month contribution from a millennial donor may not seem like much, multiply that by 100 and that’s an extra $12,000 you can put toward your mission every year. And don’t forget that as they move up in their careers, millennials will increase their gift amounts to you substantially. Begin building meaningful relationships today with the donor group that will sustain your organization’s future by turning their Giving Tuesday gifts into opportunities to support your mission for the long haul.
Millennials aren’t the only group who will jump at the chance to give monthly. Check out these 3 ways to let all your donors know that they can celebrate this year’s Giving Tuesday with a recurring gift:
1. Define monthly gift amounts in terms people can relate to.
2. Set a goal of monthly donors on Giving Tuesday.
Instead of a traditional dollar goal, let your donors know the desired number of monthly pledges you’d like to achieve in a single day. (Remember: the smallest pledges add up to a sizeable yearly donation!)
3. Lead with the impact of a monthly gift.
Spell out how each monthly gift amount makes a difference. For example, a human services organization might say, “Feed a person in need with a monthly gift. A $10 donation provides lunch for a week. A $20 donation covers breakfast and lunch for a week. A $40 donation provides 3 full meals a day for a week.”
Download a free Monthly Giving Starter Kit that includes everything you need to get prepped to accept recurring gifts on Giving Tuesday and a Monthly Giving Communications Template Kit to help you grow your program moving forward.