Losing your monthly donors? 3 ways to keep them
What is the pulse of your monthly donors? Do they know the impact of their dollars? Do you follow up routinely to acknowledge their commitment and support of your nonprofit?
While 45% of donors have enrolled in some sort of monthly giving program, giving up to 42% more each year than those who are not recurring donors, there is no guarantee that those monthly donors will stick around forever.
Feel like you’re losing your monthly donors faster than you can bring them on board? Here are three ways to re-engage with and keep your monthly donors for the long haul.
1. Make it exclusive
Not exclusive in the sense that it’s only available for the select few, but exclusive in the sense that there is a sense of pride for being a ‘member’ of your program—your community. Abhishek Humbad, CEO at Goodera, a virtual volunteering company, suggests that nonprofits think of their monthly giving programs as a product—give it a unique name, a brand, a visual identity. We concur. When you ask your donors to join a monthly giving program that is branded, there is more clout and sense of community. Donors are proud to belong to something and, as you build that community, they can engage with one another through special events geared toward them, thank you events, etc.
2. Nurture the relationship
You know the importance of donor thanks yous. But, do you have a specific touchpoint process established for monthly donors? Just as your donors can automate their monthly giving, so should you automate a monthly thank you. On top of that, choose specific touchpoints throughout the year—a phone call, a video message, a special event—specific to those monthly donors to let them know you appreciate them and how they continue to have an impact on your programs and organizations year-round.
3. Demonstrate impact
As you nurture the relationship, use what you know about the reason donors give to tie the impact of those gifts back to them.
- Altruistic—because they have a true concern for others
- Social or personal—it matters to someone they care about or to a social group they care about
- Based on the trust they already have with you—they know you’ll put the money to good use.
Even if you don’t know a specific donor’s reason for giving, use the above reasons to map out the impact stories you can provide to them throughout their recurring gift cycle. Altruistic giving: Show them how you’re helping others. Social or personal giving: Outline the benefits groups receive from these gifts. Trusted giving: Be transparent about what the money is used for. For inspiration on how to showcase your stories of impact to your monthly donors, check out these resources:
- How to gather stories of impact
- Humanize your nonprofit with website stories
- How to tell stories that inspire donors
- Attract donors by communicating your impact
Bottom line: Make your monthly giving program special—and experience—and plan to nurture your donors throughout. Just as you are grateful that they have signed on for recurring gifts to your organization, so should you return that recurring engagement and appreciation.