Does your charitable organization want to recruit more monthly donors? Or raise more money from your monthly giving program? Here are nine truths about monthly giving that apply to most non-profit organizations.
1. A direct mail invitation that includes a premium (note cards, address labels, tote bag) tends to attract more monthly donors than a package without a premium.
2. If you want to increase the size of your average monthly gift, offer a premium for joining your monthly giving program at a higher level.
3. The donors who are most likely to join your monthly sustainer program are not those who give large gifts, but those who give several gifts a year.
4. A personalized invitation letter that addresses the donor by name and mentions the donor’s last gift or giving interests will attract more monthly donors than a generic letter.
5. Sticking a stamp on your reply envelopes will boost response rates and pay for itself with the increased income you generate.
6. Donors who drop out of monthly giving programs can be renewed again at surprisingly high rates.
7. The key to recovering lapsed donors who give every month by check is speed. The sooner you contact your donor after their checks stop coming, the more likely you are to renew them.
8. The most effective way to prevent a monthly donor from lapsing is to phone them. Most donors who are about to lapse will tell you why they are going to stop giving each month.
9. Renew lapsed monthly donors based on why they lapsed. if they stopped giving because they lost their job, go back to them in six months and invite them to re-join your program.