February 19, 2024
Nonprofit Technology & Fundraising Blog
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If there is one fundraising strategy that you commit to this year, make it a monthly donation program. There is no easier way to retain existing donors, gain sustainable revenue, and upgrade annual giving amounts.
Why? Slow and steady wins the race. Instead of building budget projections that depend on guesses about one-time giving, nonprofits can spend less time and resources by accepting routine gifts that repeat on a monthly basis.
DonorPerfect users: For many organizations, setting up a monthly giving program could be a problem, but not for you. You already have the tools. Just set up your EFT (electronic free transfer), customize your Online Form, and you’re well on your way!
Everyone else: Download your free Monthly Giving Success Kit and we’ll take you through the process step-by-step, providing helpful tips, free templates, and handy tools.
A monthly giving program can positively impact your fundraising goals through increased annual giving gift totals, regular, sustainable revenue, and improved donor retention.
The latest findings show that the average monthly online donation is $52, for a total of $624 per year – nearly 5x the amount of the average one-time gift ($128). In general, monthly giving revenue has been on the rise, accounting for 28% of all online gifts.
Timely and predictable, monthly gifts empower your organization to accurately budget for the resources you need to accomplish specific tasks and goals. The more monthly donors you have, the more dollars you can confidently dedicate to both your current and forecasted initiatives.
Converting just a small percentage of your donors to a monthly giving program can have a significant impact. Calculate your revenue after the first year of monthly giving, and see the effect of converting 1%, 5% and 20% of your donors to monthly donors.
Try our Monthly Giving Calculator »
As mentioned, organizations that create and manage their monthly giving programs through DonorPerfect have an average monthly donor retention rate of 90% – double the 45% average for all donors. So, having donors join your monthly giving program means you’ll have to spend less time acquiring new donors, as well.
Integrated payment processing – DonorPerfect Payment Services automatically process monthly gifts the day they are due, so those gifts immediately become revenue you can put to use. Gift data is available right in your donor’s record without the need for any imports.
Automatic account updates – DonorPerfect’s native Account Updater integration updates your system when a donor’s payment information changes. No need to chase down expired credit cards!
Integrated online forms – DonorPerfect Online Forms offer unlimited Monthly Giving Forms that are optimized for better conversion rates. They also come with the highest level of fraud protection – DonorPerfect never stores sensitive credit card and bank information, so your supporter’s financial data is safe.
Whether you’re using software or spreadsheets, there are quick steps you can take to start building more reliable revenue through recurring gifts. No matter your comfort level with constituent relationship management software like DonorPerfect, you can learn how to start your program using our free guide, the Monthly Giving Success Kit, available for download below.