Monthly Giving! Not-so-Secret Strategy to Keep Your Nonprofit Afloat Today
For at least the past five years I’ve been actively encouraging nonprofits of all stripes to begin or ramp up their monthly giving program. It made sense then. It makes even more sense now.
You need a dependable source of income in order to be able to plan for the future.
If that sounds good to you, please continue reading. I’m going to share some best practices and examples to help you somewhat magically raise more dollars from individuals, both today and tomorrow.
Once donors sign on as monthly givers they tend to stick with you.
In fact donor retention of monthly supporters averages 80 – 90%, compared with just 65% for annual donors. That’s huge!
So huge, in fact, you’re missing a gigantic boat if you don’t currently promote monthly giving as a key fundraising strategy. In other words, you’re leaving boatloads of cash on the table. If you could use a boatload of cash right now, never fear. All you need to do is…Details