{"id":29027,"date":"2024-01-04T05:52:00","date_gmt":"2024-01-04T09:52:00","guid":{"rendered":"https:\/\/www.donorperfect.com\/nonprofit-technology-blog\/?p=29027"},"modified":"2024-07-15T14:35:31","modified_gmt":"2024-07-15T18:35:31","slug":"why-monthly-giving","status":"publish","type":"post","link":"https:\/\/www.donorperfect.com\/nonprofit-technology-blog\/monthly-giving\/why-monthly-giving\/","title":{"rendered":"Why Try Monthly Giving? 4 Reasons To Start A Recurring Donation Program"},"content":{"rendered":"\n

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.<\/p>\n

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.<\/p>\n

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\u201cMonthly giving provides an important solution to your donor retention<\/a> problem. With monthly giving, you can ensure that your small donors become mid-level to major donors<\/a>, in a dependable, sustainable way. No more waiting for the major gift officer to meet with the donor.\u201d
– Erica Waasdorp, Monthly Giving Expert and President of A Direct Solution<\/a><\/p>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n

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4 Reasons to Start a Recurring Donation Program<\/h2>\n<\/div><\/div>\n
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  1. Retain more of your donors for many years<\/strong> – On average, participating DonorPerfect users report a 90% retention rate among their monthly donors.<\/li>\n
  2. Raise more money<\/strong> – Donors who give 12 times a year might give smaller amounts at first, but they often upgrade – or even double or triple – their gift amounts. Plus, they give 42% more annually, according to Nonprofits Source.<\/li>\n
  3. Worry less about cash flow and focus more on your mission<\/strong> – You can plan on the funds being there, so you\u2019re less dependent on seasonal appeals, and you can focus on executing your programs.<\/li>\n
  4. Give your donors the convenience they\u2019ll love<\/strong> – Donors feel good knowing they can make a significant contribution in affordable installments, and that their giving doesn\u2019t stop with one gift. They also benefit at tax time by having one receipt at the end of the year – a figure they can easily track through online transaction receipts.<\/li>\n<\/ol>\n
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    DonorPerfect users: <\/strong>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\u2019re well on your way!<\/p>\n<\/div>\n

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    Everyone else: <\/strong>Download your free Monthly Giving Success Kit<\/a> and we\u2019ll take you through the process step-by-step, providing helpful tips, free templates, and handy tools.<\/p>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n

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    Reaching your fundraising goals with recurring gifts<\/h2>\n<\/div><\/div>\n

    A monthly giving program can positively impact your fundraising goals through increased annual giving gift totals, regular, sustainable revenue, and improved donor retention<\/a>.<\/p>\n

    Goal: Increase total annual giving<\/h3>\n

    The latest findings<\/a> 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<\/a>, accounting for 28% of all online gifts.<\/p>\n

    Goal: Build sustainable revenue<\/h3>\n

    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.<\/p>\n

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    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.<\/p>\n

    Try our Monthly Giving Calculator \u00bb<\/a><\/p>\n<\/div>\n

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    \"Monthly<\/figure>\n<\/div>\n<\/div>\n<\/div><\/div>\n<\/div>\n<\/div>\n
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    Goal: Improve your donor retention rate<\/h3>\n

    As mentioned, organizations that create and manage their monthly giving programs through DonorPerfect have an average monthly donor retention<\/a> rate of 90% – double the 45% average for all donors. So, having donors join your monthly giving program means you\u2019ll have to spend less time acquiring new donors, as well.<\/p>\n

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    Simplifying the monthly gift process with nonprofit software<\/h2>\n<\/div><\/div>\n

    Integrated payment processing<\/strong> – 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\u2019s record without the need for any imports.<\/p>\n

    Automatic credit card updates<\/strong> – DonorPerfect\u2019s native Credit Card Updater integration updates your system when a donor\u2019s payment information changes. No need to chase down expired credit cards!<\/p>\n

    Integrated online forms<\/strong> – 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\u2019s financial data is safe.<\/p>\n

    Whether you\u2019re 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<\/a>, available for download below.<\/p>\n<\/section>\n

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    Download the
    Monthly Giving Success Kit<\/h2>\n