I’m going to guess “yes.” I’m sure some will hate me for saying this, but after 30+ years in the nonprofit trenches and another 10+ as a coach and consultant, I’m still amazed at how small many of us think. In 2008 during the big recession, and 2020 during the pandemic, all I heard was…
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For at least the past seven years I’ve been actively encouraging nonprofits of all stripes to prioritize beginning or ramping up their monthly giving program.
Not a lot of nonprofits were really leaning into this then. But, as much sense as it made then, it makes even more sense now.
So, I’m going to ask you: How are you doing with this?
Here’s why I’m asking.
If there’s anything the pandemic years have taught us,not to mention recent climate-related disasters, you need a dependable source of income in order:
It turns out there’s nothing as dependable as monthly donors.
In fact, donors who give to you recurrently sustain you so well a monthly giving strategy is often called a sustainer program.
Do you deserve a group of people who will sustain you through thick and thin?
Of course you do!
But you don’t always get what you deserve – unless you make it happen.
As someone poetic so eloquently put it:
“Nothing will work unless you do.”
— Maya Angelou
Let’s get down to work!
There are four steps to a successful monthly giving work plan:
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In my last article I talked about the importance of making a good first impression with potential donors.
It’s extremely important to have a strategy in place, just as if you were going on a first date. Those who plan ahead do well. Those who don’t? Not so much.
Both dating, and donor wooing, are a delicate dance.
But, let’s say you did a good job. Your donor prospect made a gift!
Now what?
If you like them (of course you do!), and want a second date (of course!), you’ve got to make a good second impression. And third, fourth and fifth impression. The value of a first-time donor (which often costs as much as $1.25 to generate $1.00) is not realized in that initial gift. Sustainable fundraising is all about donor lifetime value.
So, after the first gift, you definitely want a plan in place to thank and cultivate this donor throughout the year. Some communications will have an ask included, but most will be designed to build your donor’s interest, engagement and loyalty. Once the relationship is sufficiently built, it’s time to seek that second gift.
Let’s talk about the renewal appeal, and why so many of them are just gosh-darn awful.
Maybe it’s because of the “monkey see, monkey do” nature of human beings. We see someone else do something and assume it’s good practice. Especially when they’re a household name, just bigger than us, or someone we, another staff member or board representative hold in high regard.
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