Monthly Donors: 6 Important Things You Need to Know
Did you know? Motivating donors to become recurring donors is almost guaranteed to generate 2 to 5 times more money than relying on one-time donations.
We’re talking about monthly giving! And one fun – and persuasive – fact about it is that monthly donors are committed, passionate, and generous to the tune of giving 2 to 5 times more money than regular donors.
That’s just one of the many reasons why your organization should consider incorporating monthly donors into your fundraising strategy!
What are Monthly Donors?
Simply put, monthly donors are donors that give, well, monthly! These donors are people who align with your ideal donor avatar and who love your mission.
To identify the best candidates for monthly donors, be sure to check your ideal donor persona. Who are they? Where are they showing up? What do they care about most when it comes to your nonprofit organization?
Why are Monthly Donors Important?
If your organization isn’t already focusing on cultivating monthly donors, use this guide to start the conversation with your team and your leadership.
Your donor base can become a gold mine if you focus on creating ways to engage your recurring donors and make them into monthly ones. You’ll be amazed at the difference it will make in your bottom line and your ability to meet your mission!
So, we have a free gift for you to help you get the conversation started. Download the free infographic to learn more about the 6 major reasons to invest in monthly donors for your nonprofit. Use this to get your organization on board with prioritizing monthly donors! Download the free infographic: important things to know about monthly giving.
How Do You Get More Monthly Recurring Donors for Your Nonprofit?
We know monthly donors are an excellent fundraising strategy to prioritize. But how do you go about getting more of them for your nonprofit?
Here are 7 of the best ways to increase your number of monthly recurring donors:
1. Reach Out to Your Current Network
Don’t forget about the current network you already have. You might be surprised at how many people will be responsive to the idea of being included as a monthly donor!
Reach out to the circle of supporters you have now. That might look like your volunteers and staff members. You can reach out to the members of your board. You can even open up your pocket to start contributing to monthly donations!
2. Use Social Media Ads to Target Specific Donors
We mentioned identifying the best candidates for monthly donors by using your ideal donor persona. Well, don’t put it away just yet!
You can use the same ideal donor persona to create paid social media ad campaigns. This will allow you to target specific audiences who are ready to help your cause.
3. Include a Monthly Email Fundraising Campaign in Your Email Marketing Strategy
Your email marketing strategy is a great way to start attracting monthly donors. According to statistics for online fundraising for nonprofits, email marketing still has one of the highest ROIs out of all marketing strategies!
Start including a monthly email fundraising campaign in addition to your nonprofit monthly newsletters. Having a dedicated email that asks for a contribution each month is a great way to remind your supporters of your organization’s needs.
4. Offer the Right Packages
There’s a little bit of research that needs to go into what options you’ll offer. Yes, you want to meet your nonprofit fundraising goals. But you also need to keep in mind that monthly donor gifts add up over time.
There’s a fine line between offering a package that’s too little and won’t help you meet your goals and one that discourages monthly donors from participating.
Use your average one-time donation as the starting point. Then, cut it down from there. If your average donation is $50, try asking for $15 as a monthly donation.
You may have to do some trial and error testing here, but that’s okay! Allow yourself the opportunity to find what works for your nonprofit.
5. Start a Monthly Donor Program
You can also automate your monthly donors by creating a dedicated monthly donor program!
With this kind of nonprofit program, your supporters can opt into setting up automatic recurring payments. That helps you because you won’t have to worry about reaching out manually each month and asking for their support again.
It helps them because they don’t have to walk through the entire donation process each month. Instead, their preferred payment method is billed automatically.
And with the right branding of a monthly donor program, you can create an entire experience that shows your supporters that they’re truly helping your nonprofit.
6. Show Your Supporters How They’re Helping
Often, donors forget how their dollars are being spent on the nonprofit’s mission. Or, in worst-case scenarios, they’re never told how their dollars are spent.
But the whole purpose of them donating in the first place is to help with your cause. So show them how they’re doing that!
You can put it in your monthly donor program newsletter, or you can use a “thank you page” after their monthly donation. You can even include it in your automated email receipt after they make their contribution.
But somehow, show your monthly donors how they’re helping your cause. Where does their money go? How does $35 per month benefit the community or the world? What about $100?
When you’re transparent in where dollar amounts are allocated, you’re showing them a tangible result. And they need that tangible result to feel like they’re making a difference!
7. Use an Online Donation Platform to Include a Monthly Donor Option on Your Donation Pages
The right online donation platforms can help you create a monthly donor option your supporters can opt into.
So if you’re worried about figuring out how to make a monthly donor program happen, you don’t have to!
Instead, find the right online donation platform for your nonprofit organization. Not only can they help with your monthly donors, but they can also help with loads of other online fundraising necessities.
One of our favorites, Givebutter, is quickly making a name for itself as the #1 free online fundraising platform in America! And we’ve got great news! You can watch a free demo of how the platform works here at Nonprofit Library.
All the best!
– Your friends at NonprofitLibrary
P.S. NonprofitLibrary is a free resource of products, services and software demonstrations without the sales and marketing pressure. Browse our library and view live and on-demand video demonstrations and we will never share your information with the organization unless you opt in because you are authentically interested to learn more!