December 14, 2022
Nonprofit Technology & Fundraising Blog
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January 7, 2016 | Categories DonorPerfect Update
If your organization resolved to fundraise more in 2016, consider kicking off a monthly giving program!
Through our pre-authorized payment processing service called EFT, you can offer donors a seamless and secure way to give monthly. Donors only need to enter their info once, and whatever funds they pledge to donate monthly will be automatically drafted from their accounts.
Because EFT integrates with DonorPerfect, all monthly gifts are instantly reflected in DonorPerfect and acknowledged via email, which simplifies the administrative aspect of maintaining a monthly giving program.
The average donor retention rate is 43%, but hundreds of DonorPerfect clients have seen a retention rate of 90% or more for donors who signed up to give monthly through EFT. That means that a monthly giving program has the power to nearly double your retention rate.
Every little bit helps, right? The benefit of monthly giving is that every little bit keeps coming your way 12 times a year – and not just one year.
Rather than giving once and dropping off the map, monthly donors tend to give on a recurring basis for 5 to 7 years on average. In a research study by Third Space Studio, organizations with budgets below the $2 million mark reported recurring donors giving $625 a year!
Recurring donations are funds you can count on. If your monthly giving program accounts for a good amount of your annual revenue, you can funnel some of the effort you’d put into fundraising into furthering your mission.
Giving should be easy. With a monthly giving program, donors can feel good about supporting your cause year-round without the hassle of continuously visiting your site to donate or mailing a check.