Would you rather receive your entire salary when December rolls around or get a couple of pay stubs each month? For stability’s sake, it’s a no-brainer to take periodic payments over a lump sum.
While that’s easier for you, too often your charity deals with the unknowns of relying on holiday-giving to sustain their entire year. To learn how to encourage recurring charitable donations, consider these three strategies.
Build a Trusting Donor Relationship
A recurring donation is a bigger commitment than a one-time gift. The former suggests a relationship while the latter doesn’t necessitate any further interaction. To prove you’re worth sticking with, consider how you can build donor trust.
Pursuing transparent financial practices across the board is a must. Beyond that, give prospective donors a representative in their area they can get to know. That way, when they think of your nonprofit, this hard-working staff member comes to mind rather than a corporate-seeming machine.
Explain the Impact of Recurring Donations
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Beyond that, enumerate several recurring giving options and their impacts. For $10, $50, and $100, include a short blurb on what each will help you accomplish. If donors know what their monthly gift will do, they’re more likely to initiate one.
Create an Attractive Monthly Giving Community
One more idea: though you can’t give people much in the way of monetary value, you can build up an exclusive monthly giving community that recurring donors can enjoy. It’s all about perceived value here.
Tailor messaging to this group to keep them in the know. Create special thank-you messages. Celebrate momentous successes with them before sending out any broader messages. Tell them about unique opportunities, including specialized volunteering and staffing openings. In general, create a group they would hate to leave.
