Every one-off donation is appreciated, but having a consistent funding stream plan is the best way to ensure a constant influx of support from dedicated donors.
Monthly givers are valuable because they are a reliable income source that recognises the importance of your cause. However, analysing how your charity can convert one-off donors or increase current monthly donors is always good.
Here are our top three recommendations:
Segment your communications for monthly donors
Monthly supporters need to be treated differently from your other donors. The best way to do this is to segment your communications with them.
Whether via email, post, or phone call, you can tailor a specific message to them to continually celebrate their importance and maintain the relationship you have that will keep them engaged.
Start by segmenting their email addresses into a separate email list. You should do this to avoid sending out mass communications that don’t necessarily apply to them.
For example, if they are a monthly donor, sending an email asking them to give monthly will be a wasted communication and may even irritate them. You must show you’re paying attention to their interaction and what they are doing for your cause.
Increase gifting levels
Monthly donors already believe in your cause and are dedicated to helping, so use that knowledge to your advantage. You can be grateful for the help they offer with their recurring donation and still raise the topic of increasing their monthly gift. However, you have to do it correctly.
Suppose we take the example of a distant friend messaging you out of the blue after months or years of no contact. They ask for a favour without catching up or asking about you; how would it make you feel?
Sometimes it can feel like this for monthly donors. A monthly giving program needs to be given and take. If a supporter donates, you send a thank you email or letter, and then the next contact they have is you asking for money; it could leave them feeling less inspired to take action.
Donors want gratification for their gift; it could be a simple thank you or continued communication about how their donation is helping your cause.
But always maintain the relationship before sending a second ask to a recurring donor. You can do this by sending an update email about how their monthly donations are helping and the next goal the donor can help you work towards.
Ask monthly donors for feedback
What better way to communicate with your donors than by asking for feedback? After every interaction with your donors, you can ask their thoughts to help you keep them happy and retain their monthly donations.
Don’t be scared about making contact; your monthly donors already support you, so you don’t have much to lose by asking them questions. Plus, they will feel honoured you value their opinion. In other words, make surveys part of your engagement communications plan.
It’ll give you awareness of what can be improved for new potential recurring donors and retain them too. It also gives you access to testimonials that you can use to encourage others to become regular supporters.
If you’d like to know more about how we can help you increase recurring fundraising revenue, get in touch with our expert team to chat today.
Call on 01925 755960 or email firstname.lastname@example.org