Starting and growing a recurring donor program
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Erica Waasdorp, author of Monthly Giving: The Sleeping Giant provides practical examples of recurring donor programs and how you can improve donor retention and the long-time revenue of your organization.
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Starting and growing a recurring donor program
- 1. Starting and Growing a Recurring Donor Program Presented By: Erica Waasdorp
- 2. GoToWebinar Housekeeping Open and hide your control panel Join audio: • Choose “Mic & Speakers” to use VoIP • Choose “Telephone” and dial using the information provided Submit questions and comments via the Questions panel Your Participation
- 3. 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 February 18, 2015
- 4. Poll Do you have a monthly giving program? February 18, 2015
- 5. Do your Research Join Other Monthly Giving Programs Best practice February 18, 2015
- 6. What are recurring donors? • Small • Committed • Automatic • Provide regular income • Support your mission February 18, 2015
- 7. 21% of Baby Boomers (age 49 – 67 years old) gives Monthly! monthly donors Source: Blackbaud Generational Giving Study February 18, 2015
- 9. Source: Bloomerang, 2014 AFP Fundraising Effectiveness Study Why? February 18, 2015
- 10. Source: Infographic: Bloomerang, AFP Fundraising Effectiveness Project Quote: Adrian Sargeant February 18, 2015 Why…
- 11. 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 February 18, 2015
- 12. Your donors will give more… Current Gifts Monthly Gifts (annual) First year Cume 100 $35 $0 $3,500 100 $35 $120 $15,500 February 18, 2015
- 13. How they give • Electronic Funds Transfer (EFT / ACH) • Credit card/debit card • Offer both!
- 14. Ask and you’ll receive All typical fundraising rules apply! Best practice February 18, 2015
- 15. One person must own the program YOU Web site Donors Donor base Donor services FundraisingAccounting Programs Marketing Online February 18, 2015
- 16. Question What’s the name for your monthly donor program? February 18, 2015
- 17. Have a Name Organize Recognition Develop your ‘Promises’ Get organized February 18, 2015
- 18. Make your own email thank you! February 18, 2015
- 19. Thank you Gift impact Thank you! February 18, 2015
- 20. Certificate Thank you for joining Send with personal letter via snail mail February 18, 2015
- 21. Poll Should you send monthly donors a monthly thank you letter? February 18, 2015
- 23. Tax info by email and hard copy Total amount for the year February 18, 2015
- 24. Start with your Recurring Donation and Landing Page Organize online February 18, 2015
- 25. Poll Who is handling your online donations? February 18, 2015
- 26. Monthly Before One time donation Pay Pal example February 18, 2015
- 27. Easy, minimum amount Network for Good February 18, 2015
- 28. Greater Giving No minimum Simple ask to recur February 18, 2015
- 29. NetCommunity Spark February 18, 2015
- 30. Poll Which donor base system are you using? February 18, 2015
- 31. Absolutely NO end date EVER! February 18, 2015
- 32. Promises What donors can expect February 18, 2015
- 33. Add form online add mail in form February 18, 2015
- 35. Automatic Check Option Donor must fill out form and send in, Signature required for EFT February 18, 2015
- 36. Put Monthly Giving Front and Center Set up your form and information on the web February 18, 2015
- 37. Make it easy to find… February 18, 2015
- 39. Make it easy to find… February 18, 2015
- 40. Add to donation page Specific amounts Dare to put front and center February 18, 2015
- 41. Put it on home page February 18, 2015
- 42. Info and payment are one
- 43. Ask Low Get High Response Upgrade later Best practice February 18, 2015
- 44. Calculate Monthly Ask Amount February 18, 2015 Take average gift Use 1/3
- 45. Ask low, get high response! February 18, 2015
- 46. Source: 2014 M+R Strategic Benchmarks Don’t worry… February 18, 2015
- 47. Drive to web Best practice February 18, 2015
- 48. As soon as they become a donor! As often as you’d like Any time of the year When can you ask? February 18, 2015
- 49. Impact of gift Monthly front and center Ask for preferences Welcome email February 18, 2015
- 50. Online Monthly Growing… Source: 2014 M+R Benchmarks (2013 data) February 18, 2015
- 51. Use email Use challenge and deadline Promoting your program February 18, 2015
- 52. Poll How many email names do you have? February 18, 2015
- 54. Clear goal of 600 Deadline # left to generate Specific amounts February 18, 2015
- 55. Ask in email newsletter Include in email newsletter February 18, 2015
- 56. Your program is growing!! February 18, 2015
- 58. Poll How many times do you ask your donors for money? February 18, 2015
- 59. Target Small donors Multiple Donors 0-12 Mo. 1000.00+ 552 500.00-999.99 308 250.00-499.99 339 100.00-249.99 1,315 50.00-99.99 786 25.00-49.99 850 20.00-24.99 629 15.00-19.99 270 10.00-14.99 664 5.00-9.99 249 .01-4.99 92 your future monthly donors
- 60. February 18, 2015 Use Donor testimonials “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
- 62. Letter in thank you Strong teaser Back-end premium works with mission Clear examples of how gift helps Offer EFT and CC options February 18, 2015
- 64. Both options Front of Reply Back of reply February 18, 2015
- 65. Back Office Crucial February 18, 2015
- 66. Prevent lapsers • Before card expires • Email • Letter • Telephone • Survey Prevent lapsers
- 67. Email example
- 68. Poll Should you stop appealing to monthly donors? February 18, 2015
- 71. Plan for Success! February 18, 2015
- 72. Annualize Results Monthly Donors Source # of monthly donors acquired Average gift Average Yearly Gift First year Cume Totals 170 $10 $120 $20,400
- 74. “The beginning is perhaps more difficult than anything else, but keep heart, it will turn out all right.” –Vincent van Gogh February 18, 2015
- 76. Download templates • Tax letter template • Email example template http://bit.ly/1zjgouF
- 77. Resources • Erica Waasdorp, Monthly Giving. The Sleeping Giant. amzn.to/1jFMRmU www.adirectsolution.com Templates, Blogs on monthly giving • Network for Good Guide on Recurring Giving bit.ly/1prks8d • Donate Now http://www1.networkforgood.org/for-nonprofits • PayPal for nonprofits http://bit.ly/1ns4uIc February 18, 2015
- 79. 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 February 18, 2015