The #1 reason monthly giving programs grow is because you ask your donors to join. Ask, ask often, and ask low.
(PRWEB UK) 17 November 2016
How to Set Up A Monthly Giving Marketing Plan
If you want to grow your number of monthly donors, you’ll need to do more than ask once a year. It’s ongoing, and it takes time. The more you ask and how you ask will directly affect the growth rate of your monthly donor program and improve donor retention.
1. Craft your story.
Marketing your monthly giving program is all about telling your story. When you share the story behind your organization, you bring a human touch and emotional element to a donor’s participation in your mission.
Your story should set your organization’s mission apart from others and reflect the significant impact a single donor’s monthly commitment can have on your success. By telling your story, you’re not just asking, you’re inviting the donor to become part of the story by joining your monthly giving program.
2. Incorporate your story and monthly giving asks in your communication plan.
The more you ask donors to join your monthly giving program, the more monthly donors you’ll attain. Asking can be done directly or indirectly, depending upon the channel you choose.
For example, email and direct mail are ways of asking outright, while social media posts and event invites keep donors engaged and aware of your efforts.
3. Establish a budget.
There’s no standard budget plan for monthly donors, because every organization is different. If you have 500 donors, your budget to market your monthly giving will not be the same as if you had 5,000 donors. Having more direct mail addresses than email addresses can also add to your marketing cost.
4. Ask low and you’ll grow!
The #1 reason monthly giving programs grow is because you ask your donors to join. Ask, ask often, and ask low. By asking for a lower amount, your monthly giving program will grow much faster. A lower monthly giving amount welcomes donors of all incomes and many will eventually increase their monthly giving amount in the future.
For example, if you’re a membership organization, you can encourage members who typically pay for a yearly membership up front to join as monthly members instead.
Rather than asking for $45 for a year-long membership, ask for $5 a month instead ($60/year), with no end date to their membership. By allowing members to sign up and receive their membership card for just $5, you’ll attract more donors who are likely to donate for life.
Like what you read? Well, you’re in luck. There’s more.
This article is an excerpt from DonorPerfect’s Monthly Giving Marketing Kit, the latest instalment to their Monthly Giving Series featuring monthly giving expert, Erica Waasdorp.