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In the U.S., recurring donors typically account for less than 10% of an NPO’s supporter base. Many organizations don’t even have a monthly giving program. But with online donations, accepting recurring gifts has become a realistic option for nonprofits of all sizes. There are no checks to mail, no reminders needed and much of the hassle has been eliminated.
Here are six compelling reasons to consider a monthly giving program.
1. It’ll boost your revenue.
Recurring donations can increase the lifetime value of your donors. One study showed that supporters who gave one-time gifts donated an average of $97 in 2009, while recurring donors averaged $220 for the year. Also, recurring donors tend to have much higher retention rates.
2. It’s a win-win, for both you and your donors.
A monthly gift allows supporters to spread their giving across the entire year. They end up giving more, but don’t feel the pinch of a large one-time donation. And from your perspective, recurring donations provide an easy way to ask for a larger commitment.
3. Recurring donations even out your cash flow.
About 33% of donations are typically made during the holiday season, which means you likely have months when your revenue is light. Building a steady stream of recurring donations can help provide support during slower months.
4. It’s cost effective.
There’s no need for repeat solicitation. Once you’ve recruited a donor to give regularly, the gifts continue indefinitely until the donor decides to stop. Of course you need to stay engaged, but the costs of retaining your donors are less than recruiting new ones.
5. It easily integrates with your other fundraising methods.
It’s easy to add an option for recurring giving to your direct mail pieces, emails and other online fundraising initiatives.
6. It’s convenient and easy.
Once set up with the appropriate solution, thousands of gifts can be handled electronically, reducing the burden on your staff.
Start accepting recurring donations today. Call Brendan at 877.447.8941 to learn how.