The Nonprofit Academy PRESENTS! PRESENTS HOW TO TURN SMALL DONORS INTO MONTHLY DONORS TO GENERATE REVENUE FOR YOUR NONPROFIT with Erica Waasdorp #npapresents You can have virtually anything you want if you re willing to hear NO often enough! -Richard Fenton & Andrea Waltz
GoToWebinar Attendee Using Housekeeping the Control Panel 1. The orange arrow opens & hides your control panel 2. To listen, join the audio Choose Mic & Speakers to join through your computer Choose Telephone to dial in using the information provided 3. Ask questions via the Questions panel or by tweeting with the hashtag #npapresents The recording of this session should be available in the Online Vault a few hours after this session is over. http://thenonprofitacademy.com/vault/ You can have virtually anything you want if you re willing to hear NO often enough! -Richard Fenton & Andrea Waltz
The Nonprofit Academy PRESENTS! PRESENTS HOW TO TURN SMALL DONORS INTO MONTHLY DONORS TO GENERATE ONGOING REVENUE FOR YOUR NONPROFIT with Erica Waasdorp #npapresents You can have virtually anything you want if you re willing to hear NO often enough! -Richard Fenton & Andrea Waltz
What We Will Cover Today I. Donor Retention II. Who and what are monthly donors III. How to organize the basics IV. How to market your program V. Presenting results VI. 5 reasons why you should start a program
Who are monthly donors? monthly donor monthly donor monthly donor monthly donor monthly donors monthly donor
What are monthly donors? Small Committed Automatic Provide regular income
Why are they important? Source: 2014 AFP Fundraising Effectiveness Study
Retention Rates jump!! Source: DonorPerfect Study users
They will give a lot more money! Current Gifts Monthly Gifts (annual) First year Cume 100 $35 $0 $3,500 100 $35 $120 $15,500
You bring your donors up the pyramid
How to organize the basics 1. Commit and make someone accountable 2. Name your program 3. Set up payment types 4. Set up back-office process 5. Set ask amount
One person must own the program! Web site Online Donors Marketing YOU Donor base Programs Donor services Accounting Fundraising
Name your program Brainstorm Use in sentence Test it Choose Move on
Some ideas Circle Friends Sustainers Partners Advocates Guardians Champions Hopebuilders Innkeepers
Payment types Credit card/debit card Bank draft Offer both!
Add recurring to your one time donation form
Always add make it monthly or recurring
Create recurring only page
Set your ask levels $5? $16? $10? $29?
Start with your annual gift Use 1/3 Ask LOW
Ask Low
Be specific Just $8 a month (that s $0.25 a day), will help.
$23 a month = $276 a year! Source: 2015 M+R Strategic Benchmarks
Things to do before you launch Have everything ready to go! Auto-responder Thank you email Thank you letter Certificate Back-end premium Special recognition Tax letter Regular updates Promises
Recognition
Organize landing page and promises
Auto-responder, email thank you
Special thank yous Demonstrate gift impact Thank you
Tax information
Bank draft information 1. Check for first payment (recommend) 2. Voided check 3. Online
How to prevent failed payments (monthly donor drop outs)
Good word Clear reason Image, clear link to renewal page
Involve everyone Join first Ask staff and board to join Ask volunteers to join Make sure everybody knows about the program
Develop reports and annualize Monthly Donors Source # of monthly donors acquired Average gift Average Yearly Gift First year Customer Totals 170 $10 $120 $20,400
How to market your Monthly Giving Program 1. Online 2. Direct mail
In 2014, Monthly Online grew by 32%! Source: 2015 M+R Strategic, Benchmarks
Add link from home page!
Link from donate button Put Monthly first Specific amounts
Benefits Video Specific amounts
Put front and center
Integrate in donation form Put Monthly first
Put it on home page!
Add incentive only if needed
No-incentive option
Web ads
Start social sharing
Add challenge and deadline Clear goal of 600 NO gift Deadline = Urgency # left to generate Specific amounts
Organize special segment in database Thank yous Ongoing recognition Special action if dropped out Upgrades Additional appeals Special invitations
When can you ask donors to join? Any time! All the time! Occasionally You choose how fast you d like to grow!
Inserts in welcome and thank yous work!
Welcome email Impact of gift Monthly Ask for preferences
Example welcome message in letter Thank you so much for your gift of xx$mrgxx to [name of organization]! [Focus on why the gift is important for you and the impact it s making on the people/animals/mission you serve]. That s why I d like to invite you to join a privileged group of special supporters, called [name of program]. [Focus on benefits and ease of program for donor]
Use donor testimonials
Add option on back of form
Do special appeal Target Target Recency Frequency Monetary Value Credit card donors Check donors Typically $5+, 2 gifts or more a year
Select your donors Select these first
Focus areas in appeal
Keep communicating! Keep them in your annual fund appeals except if they don t want to Segment them Include in thank you calls! Personalize where you can
Calculate your potential
5 Reasons to start a monthly giving program 1. You ll retain more donors 2. You ll raise more money 3. You ll know you ll have the cash flow to plan your programs 4. You ll give the donors the convenience they ll love 5. It s become a lot easier to start! Just activate the systems you have and start asking!
Free Resources www.adirectsolution.com
"It is always the start that requires the greatest effort. - James Cash (J.C.) Penney: American businessman
For follow up questions, contact Erica Erica Waasdorp A Direct Solution Tel: 508-776-1224 www.adirectsolution.com Resouces, Blog and Monthly Giving Help Line erica@adirectsolution.com @ericawaasdorp
PRESENTS http://thenonprofitacademy.com/vault/ #npapresents You can have virtually anything you want if you re willing to hear NO often enough! -Richard Fenton & Andrea Waltz