Wouldn’t it be great to have a steady stream of donors? According to The State of Modern Philanthropy, recurring donors are over five times more valuable to your nonprofit than one-time donors. Monthly giving creates reliable income from your most committed donors. So how do you start a monthly gift program or increase the monthly donors you have? Are there pitfalls to watch out for? In this episode, Erica Waasdorp, author of the book “Monthly Giving: The Sleeping Giant,” will answer these questions and help you tap into this treasure hidden right in your database.
In this episode you'll discover
- Why do recurring gifts matter? 02:30
- Impact of recurring gifts 04:00
- How can a nonprofit get started with monthly giving? 04:50
- What do the retention rates look like with monthly giving? 07:25
- Top 5 reasons for your nonprofit to do monthly giving 08:20
- How do you convert annual donors to monthly donors? 09:06
- is it true that monthly giving can increase your donors? 10:39
- Nonprofit success story from an industry expert 14:26
- What are the "pitfalls" we want to avoid with this process? 15:50
- Ideas to market a monthly donor program 21:14
- Coaches corner - "How do I manage my remote staff and keep them as engaged and productive as in the past?" 26:28
Got a question that you'd like to ask a nonprofit professional? Check out the Coaches Corner in every episode of IMPACTability®, where our Impact Coaches answer your questions regarding your nonprofit. Email your questions to IMPACTcoaches@IMPACTability.net and listen to next week’s episode to see if your question gets answered!
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