How You Can Start and Grow a Recurring Donor Program
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The document outlines steps for starting and growing a recurring donor program, as presented by Erica Waasdorp, a philanthropic consultant. She discusses the benefits of monthly giving programs, including higher retention rates. The presentation recommends designating a single person to manage the program, developing branding and recognition for donors, and integrating recurring donation options prominently on websites and donation forms. Waasdorp also provides tips for marketing strategies like email, social media, and direct mail to acquire new monthly donors and upgrade existing donors to higher giving levels over time. Planning for expected growth in revenue is important to the long-term success and sustainability of the program.
How You Can Start and Grow a Recurring Donor Program
- 1. How You Can Start and Grow a Recurring Donor Program 11/20/14 1pm eastern The presentation will begin shortly.
- 2. Before We Get Started 3 This presentation is being recorded! The recording and slides will be emailed to you later this afternoon. Please chat in any questions for our guest. We will answer them in the formal Q&A session at the end of the presentation.
- 3. 3
- 4. About Erica Waasdorp •President of A Direct Solution •Philanthropoholic •Reader’s Digest ‘graduate’ •30 + years Direct Response experience •20+ years of Monthly Giving experience •Raised millions of dollars for clients •Author of Monthly Giving. The Sleeping Giant, paperback and e-book •Speaker, teacher and blogger November 20, 2014
- 5. Question Do you have a monthly giving program now? Yes No November 20, 2014
- 6. What? • Small • Committed • Automatic • No end date • Provide regular income November 20, 2014
- 7. Where? November 20, 2014
- 8. Why? To offset this: Source: Bloomerang, 2013 AFP Fundraising Effectiveness Study November 20, 2014
- 9. I: How Monthly Donors are different Their retention rates are much higher! Source: Infographic: Bloomerang, AFP Fundraising Effectiveness Project Quote: Adrian Sargeant
- 10. Retention Rates Rock!! Median Retention Rates in 2012 by Gift Type and Loyalty Donors Giving Only Single Gifts Donors Giving Both Single and Recurring Gifts 2 Years Consecutive 51% 86% 3 & 4 Years Consecutive 65% 90% 5+ Years Consecutive 79% 95% Source: donorCentrics™ Collaborative Benchmarking US Recurring (Sustainer) Giving November 20, 2014
- 11. Your donors will give a lot more… Current Gifts Monthly Gifts (annual) First year Cume 100 $35 $0 $3,500 100 $35 $120 $15,500 November 20, 2014
- 12. Best Practice Do your Research Join Other Monthly Giving Programs November 20, 2014
- 13. 21% of Baby Boomers (age 49 – 67 years old) gives Monthly! November 20, 2014 monthly donors Source: Blackbaud
- 14. Online Monthly Growing… Source: 2014 M+R Benchmarks (2013 data) November 20, 2014
- 15. Best Practice Typical fundraising rules apply except… November 20, 2014
- 16. One person must own the program Web site YOU Donors Donor base Donor services Accounting Fundraising Marketing Online Programs November 20, 2014
- 17. Best Practice Have a Name Organize Recognition Develop your ‘Promises’ November 20, 2014
- 18. November 20, 2014 Thank you for joining Send with personal letter via snail mail No need for monthly thank yous Send tax receipt in January
- 19. Important: Make your own email thank you! November 20, 2014
- 20. Special thank you Gift impact Thank you!
- 21. November 20, 2014 Share options What donors can expect
- 22. Best Practice Add Recurring to Donation page Do have special Landing Page November 20, 2014
- 24. November 20, 2014 Easy, minimum amount
- 25. November 20, 2014 No minimum Simple ask to recur
- 27. II: How to Start a Program with Limited Resources Absolutely NO end date EVER!
- 28. November 20, 2014 Local Library Monthly Before One time donation
- 29. November 20, 2014 Video Gift for joining Questions & Answers
- 30. Top of landing page November 20, 2014
- 31. Bottom of landing page Clear benefits November 20, 2014
- 32. Automatic Check Option Donor must fill out form and send in, Signature required for EFT November 20, 2014
- 33. Best Practice Organize your Back Office November 20, 2014
- 34. Compare expected payments against actual payments received Monthly, day after charge date Recommend monthly payment code for tracking November 20, 2014
- 35. Account Updater/Recycling Outdated cards Declined cards November 20, 2014
- 36. Best Practice Marketing Put Monthly Giving Front and Center November 20, 2014
- 37. Make it easy to find… menu V: How to Market your Program
- 38. V: How to Market your Program Benefits Video Specific amounts
- 39. V: How to Market your Program Make it easy to find…
- 40. VII: How to Plan for Growth Integrate in donation page Specific amounts Dare to put front and center
- 41. November 20, 2014 Back end premium Landing Page with ask amount (open)
- 42. Best practice Rule of thirds Ask Low Get High Response Upgrade later November 20, 2014
- 43. Calculate Monthly Ask Amount Take Avg One time gift Use One Third for first Monthly Ask •$35 becomes: •$10, $15, $20, $35, Other $______ •$15 becomes: •$5, $10, $15, $20, Other $_____ For example November 20, 2014
- 45. Specific amounts do specific things… November 20, 2014
- 46. November 20, 2014 Source: 2014 M+R Benchmarks
- 47. When can you ask? As soon as they become a donor! As often as you’d like Any time of the year November 20, 2014
- 48. November 20, 2014 Impact of gift Monthly front and center Ask for preferences
- 49. Best practice Drive to web November 20, 2014
- 50. November 20, 2014 Web ads Facebook Twitter Linked in
- 51. Best practice Use Email Use Challenge and Deadline November 20, 2014
- 52. November 20, 2014 Use image to draw attention
- 53. November 20, 2014 Clear goal of 600 Deadline # left to generate Specific amounts
- 54. November 20, 2014 Challenge and deadline worked into email newsletter
- 55. Your program is growing!! November 20, 2014
- 56. Direct mail still works! November 20, 2014
- 57. Use Donor testimonials wherever you can… Newsletters, web, FB, Twitter… “I am a widow on a fixed income but being a monthly sponsor helps people that have less. You do good work for the less fortunate”. – Jean, NJ November 20, 2014
- 58. A November 20, 2014 Strong teaser Back-end premium works with mission Clear examples of how gift helps Offer EFT and CC options
- 59. November 20, 2014 Mention Monthly Option
- 60. November 20, 2014 Front of Reply Both options Back of reply
- 61. Should you stop appealing? NO November 20, 2014
- 62. Monthly Donors who give to other appeals Real Live Example: 57% of Monthly donors give to other appeals November 20, 2014
- 63. Plan for Success! November 20, 2014
- 64. Remember to Annualize! Current Gifts Monthly Gifts (annual) First year Cume 100 $35 $120 $15,500 November 20, 2014
- 65. Download The Monthly Donor Calculator bit.ly/T1dSdr November 20, 2014
- 66. “The beginning is perhaps more difficult than anything else, but keep heart, it will turn out all right.” –Vincent van Gogh November 20, 2014
- 67. Erica Waasdorp A Direct Solution PO Box 757 Marstons Mills, MA 02648 USA Tel: 508-776-1224 Fax: 270-633-1744 www.adirectsolution.com erica@adirectsolution.com @ericawaasdorp Monthly Donor Calculator bit.ly/T1dSdr November 20, 2014
- 68. Questions?
- 69. Any questions? erica@adirectsolution.com Or erica.adirectsolution@gmail.com Feel free to email me even after today! November 20, 2014
- 70. Free educational resources » •Daily blog post •Weekly webinar •Downloadables •Nonprofit Wrap-‐Up •Bloomerang TV https://bloomerang.co/resources
- 71. https://bloomerang.co/resources/webinars Next (free!) webinar: 6 Top Tips for Retaining Nonprofit Talent w/ Ritu Sharma & Jacqueline Beslin 12/4 -‐ 1pm eastern