Why Is It Important to Increase Recurring Donations for Your Nonprofit?
Dana Snyder
Speaker, Author, and Host of Missions to Movements Podcast - I bring nonprofits together through masterminds to build, grow & sustain thriving monthly giving programs!
You may have heard it before. But just in case you haven’t, I’ll tell you: setting your nonprofit up for recurring donations is much easier than constantly having to attract new donors.?
They’re an incredibly valuable part of creating a sustainable fundraising strategy as you grow your organization.
I’ll take you through 3 easy ways to encourage recurring donations for your nonprofit in this post.
What Are Recurring Donations and Why Are They Important??
Recurring donations for nonprofits are when a donor doesn’t stop at just one donation. Instead, they elect to make an ongoing gift.?
Why Is It Important to Increase Recurring Donations for Your Nonprofit??
INCREASE THE LIFETIME VALUE OF YOUR DONORS
Recurring donations are one way to increase online giving. Because as I mentioned above, those who’ve given once are easier to work with again rather than warming up new leads.?
According to?data from Kindful ,?recurring donors give 5x more on average than those who only give once.?
And?the average recurring donor will give for more than two years!?
HAVE A RELIABLE REVENUE STREAM
If you need to know how to grow a nonprofit, this is one of the biggest answers. By encouraging recurring donations, and setting your nonprofit up for them, you can expect a reliable revenue stream.?
Instead of hustling for the next donation, you?know?where the next one is coming from.
How to Boost Your Recurring Donations for Your Nonprofit
You get it, now! The recurring donors are important for your success.?
But how do you go about making sure they happen??
Here are my top 3 ways to encourage them:?
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1. SET UP YOUR WEBSITE FOR RECURRING DONATIONS
Make sure your website has a dedicated monthly giving donation page. And better yet, add in a subscription offer on a monthly (more on that in a moment), quarterly, or yearly basis.?
Be sure your website is clear and easy to navigate. And use messaging that is effective and strong, talking to your Ideal Donor Avatar.
Setting your process up for recurring donations doesn’t have to be difficult, either! Platforms like?Fundraise Up ,?Funraise , and?Givebutter ?make for excellent platforms that are easy to use and streamline your systems for your donors.
Plus, they’re all great to use for mobile devices, too. Using mobile-optimized platforms means your cause is accessible to your donors, no matter how they want to give.?
And if you’re interested in Fundraise Up to update your donation platform, I can help you out.?Click here ?to learn more about my Fundraise Up Onboarding service!?
2. ADD IN A MONTHLY GIVING PROGRAM TO BOOST RECURRING DONATIONS
Monthly giving has been proven to be a valuable strategy for nonprofits across the board. From increasing revenue to garnering more engaged donors, using monthly giving is a beneficial way to bring in recurring donations.?
In fact,?data from Network for Good ?shows a recurring monthly donor will give 42% more in one year than those who opt-in to one-time gifts.?
Vik Harrison has an incredible training, The Monthly Giving Launch Guide that will help you develop your monthly giving based on her learnings at charity: water.
3. USE FACEBOOK AND INSTAGRAM ADS TO KEEP YOUR ORGANIZATION TOP OF MIND
Using Facebook ads for nonprofits is an excellent way to boost recurring donations! With the Facebook ads manager platform, you can retarget specific audiences, including those who’ve donated once to your organization.?
By using nurturing ad campaigns, along with ones that ask for the give, you can keep your nonprofit top of mind for your engaged audience.?
If encouraging recurring donations is at the top of your goals list this year, then including Facebook ads for nonprofits in your marketing strategy is a must.?
With a free 45-minute webinar , you can learn how to attract new recurring donors WITHOUT posting to social media.
And yep – it’ll take less time than running out for your favorite latte at Starbucks!?
Founder - No End To Love Inc. Building Self Reliant Communities with education, access to clean water, business initiatives and improving living conditions. Currently working in two small villages in Maasai Mara, Kenya.
2 年Dana, I sent an email over the weekend. Just need to talk through a few things before signing up. Thanks, Margaret
Nonprofit Marketing Coach | Messaging For Social Impact | Helping Nonprofits Get The Word Out, Get Funding, and Grow ????
2 年I knew that recurring donors tend to give more, but I didn't realize that the average recurring donor gives for two years! Cool insight.
Generosity Experience Design | Empowering nonprofits to build a community of generosity
2 年Absolutely agree Dana. We have soon to be published research that is drawn from the largest analysis of recurring donations in the sector, done in partnership with the University of Dallas. We found that smaller nonprofits in particular benefit most per capita of donor base from investments into good recurring giving programs. And there is a broader branding and communications process that helps optimize this. We will be rolling out some amazing things with Erica Waasdorp around monthly giving later this year to help non-profits really take it to the next level.