Last week, we discussed the importance of making your donors feel appreciated. Today, I would like to talk about the importance of annual donors vs. monthly donors. Every year, you and your staff gear up for that one large fundraiser. It’s your huge money maker! Every year, you get out your donor list from the previous year and you call and invite them to this year’s event. For this example, let’s say annual donations total $100,000 for this fundraiser. What if you could increase that amount by 20%? You can and here’s how:
Encourage your annual donors to become monthly donors!
For those donors who give $10,000 once per year, what if they gave $1,000 per month instead? That would increase your donations by 20%! Don’t miss out on the small donations! For those giving $250 annually, encourage them to give $25 per month instead! That totals $300 annually! Multiply that by 100 donors giving $25 per month, for a total of $2500 per month ($30,000 annually). Could you use an additional $30,000 for your nonprofit?
As I type this blog, I received a clever cold call for a donation for breast cancer awareness. The marketer asked for a generic name and when I told her she had the wrong number, she stated, “Maybe you could help me,” and proceeded to go into her spiel. As I listened to her predetermined spiel, I realized that she was hitting a lot of the most important points when connecting with a donor. She started by asking me an open ended question about the amount I wanted to donate to support their cause. When I told her that we were involved in local breast cancer awareness causes, she proceeded to say “We never want to take away from other causes but could we still sign you up for a small monthly donation of $15?”
Asking for a small monthly donation from a large pool of new or infrequent donors is a great position.
Tips to transitioning annual donors to monthly donors:
1. Add a monthly donation button to your website
2. Have preset options to make it easier for the individual to donate
3. Connect with the donor emotionally.
4. My favorite…..Ask nicely!
We don’t just organize and manage our clients financial assets ; we’re constantly looking to maximize the efforts you put into fundraising. We love nonprofit organizations. You’re the heart of our community and it’s our honor to serve you.
Want more ideas on how to operate leaner, meaner and greener? Contact us here.