Giving on a Schedule?
Increasingly, service nonprofits are catching on to what many religious organizations have known for years…it pays well to condition people to give. Setting up a donation system that provides for authorized monthly credit/debit card payments or bank withdrawals may take a little work at first, but over the long term, monthly givers demonstrate more loyalty (Some nonprofits have found that they are able to retain up to 92% of their donors who give monthly), are more inclined to give larger sums over time and are easier to approach about with other requests for support. So how do you attract and keep monthly donors? According to the Chronicle of Philanthropy, the key to success is a 5 point strategy:
- give them special attention with regard to the communication pieces you use (replace their mass mailings with something more appropriate to their schedule)
- Make a green-friendly pitch for going electronic
- Know your donors (again, mass appeals to people who already give are a no-no)
- Finalize payment methods (electronic fund transfers, direct debits or credit cards)
- Assign someone to monitor dropouts (keep up with credit card expirations, replacements and the like)