Starting and growing a recurring donor program
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Transcript of Starting and growing a recurring donor program
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Starting and Growing a Recurring Donor Program
Presented By:
Erica Waasdorp
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GoToWebinar Housekeeping
Open and hide your control panel Join audio: • Choose “Mic & Speakers”
to use VoIP • Choose “Telephone” and
dial using the information provided
Submit questions and comments via the Questions panel
Your Participation
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About Erica Waasdorp
•President of A Direct Solution
•Philanthropoholic
•Reader’s Digest ‘graduate’
•30 + years Direct Response experience
•20+ years of Monthly Giving experience
•Raised millions of dollars for clients
•Author of Monthly Giving. The Sleeping Giant, paperback and e-book
•Speaker, teacher and blogger
February 18, 2015
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Poll
Do you have a monthly giving program?
February 18, 2015
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Do your Research
Join Other Monthly Giving Programs
Best practice
February 18, 2015
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What are recurring donors?
• Small
• Committed
• Automatic
• Provide regular income
• Support your mission
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21% of Baby Boomers (age 49 – 67 years old)
gives Monthly!
monthly
donors
Source: Blackbaud Generational Giving Study
February 18, 2015
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Where?
February 18, 2015
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Source: Bloomerang, 2014 AFP Fundraising Effectiveness Study
Why?
February 18, 2015
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Source: Infographic: Bloomerang, AFP Fundraising Effectiveness Project
Quote: Adrian Sargeant
February 18, 2015
Why…
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Retention Rates Rock!!
Median Retention Rates in 2012 by Gift Type and Loyalty
Donors Giving Only Single Gifts
Donors Giving Both Single and Recurring Gifts
2 Years Consecutive 51% 86%
3 & 4 Years Consecutive 65% 90%
5+ Years Consecutive 79% 95%
Source: donorCentrics™ Collaborative Benchmarking
US Recurring (Sustainer) Giving
February 18, 2015
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Your donors will give more…
Current Gifts
Monthly Gifts (annual)
First year Cume
100 $35 $0 $3,500
100 $35 $120 $15,500
February 18, 2015
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How they give
• Electronic Funds Transfer
(EFT / ACH)
• Credit card/debit card
• Offer both!
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Ask and you’ll receive
All typical fundraising rules apply!
Best practice
February 18, 2015
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One person must own the program
YOU
Web site
Donors
Donor base
Donor services
Fundraising Accounting
Programs
Marketing
Online
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Question
What’s the name for your
monthly donor program?
February 18, 2015
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Have a Name
Organize Recognition
Develop your ‘Promises’
Get organized
February 18, 2015
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Make your own email thank you!
February 18, 2015
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Thank you
Gift impact
Thank you!
February 18, 2015
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Certificate
Thank you for joining Send with personal letter
via snail mail
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Poll
Should you send monthly donors a monthly thank you letter?
February 18, 2015
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Tax info by email and hard
copy
Total amount for the year
February 18, 2015
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Start with your Recurring Donation and Landing Page
Organize online
February 18, 2015
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Poll
Who is handling your
online donations?
February 18, 2015
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Monthly Before One time donation
Pay Pal example
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Easy, minimum amount
Network for Good
February 18, 2015
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Greater Giving
No minimum
Simple ask to recur
February 18, 2015
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NetCommunity Spark
February 18, 2015
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Poll
Which donor base system are you using?
February 18, 2015
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Absolutely NO end date EVER!
February 18, 2015
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Promises
What donors can expect
February 18, 2015
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Add form online
add mail in form
February 18, 2015
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February 18, 2015
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Automatic Check Option
Donor must fill out form and send in, Signature required for EFT
February 18, 2015
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Put Monthly Giving Front and Center
Set up your form and information on the web
February 18, 2015
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Make it easy to find…
February 18, 2015
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One page
Benefits
Specific amounts
Video
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Make it easy to find…
February 18, 2015
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Add to donation page
Specific amounts
Dare to put front and
center
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Put it on home page
February 18, 2015
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Info and payment are one
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Ask Low
Get High Response
Upgrade later
Best practice
February 18, 2015
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Calculate Monthly Ask Amount
February 18, 2015
Take average gift
Use 1/3
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Ask low, get high response!
February 18, 2015
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Source: 2014 M+R Strategic Benchmarks
Don’t worry…
February 18, 2015
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Drive to web
Best practice
February 18, 2015
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As soon as they become a donor!
As often as you’d like
Any time of the year
When can you ask?
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Impact of gift
Monthly front and center
Ask for preferences
Welcome email
February 18, 2015
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Online Monthly Growing…
Source: 2014 M+R Benchmarks (2013 data)
February 18, 2015
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Use email
Use challenge and deadline
Promoting your program
February 18, 2015
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Poll
How many email names do you have?
February 18, 2015
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Clear goal of 600
Deadline
# left to generate
Specific amounts
February 18, 2015
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Ask in email newsletter
Include in email newsletter
February 18, 2015
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Your program is growing!!
February 18, 2015
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Direct mail still works!
February 18, 2015
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Poll
How many times do you ask your donors for money?
February 18, 2015
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Target Small donors
Multiple Donors 0-12 Mo.
1000.00+ 552
500.00-999.99 308
250.00-499.99 339
100.00-249.99 1,315
50.00-99.99 786
25.00-49.99 850
20.00-24.99 629
15.00-19.99 270
10.00-14.99 664
5.00-9.99 249
.01-4.99 92
your future
monthly donors
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February 18, 2015
Use Donor testimonials
“I am a widow on a fixed income but being a monthly sponsor helps people that have less. You do good work for the less fortunate”. – Jean, NJ
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Offer in newsletter
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Letter in thank you Strong teaser
Back-end premium works with mission
Clear examples of how gift helps
Offer EFT and CC options
February 18, 2015
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Appeal
Mention Monthly Option
February 18, 2015
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Both options
Front of Reply
Back of reply
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Back Office Crucial
February 18, 2015
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Prevent lapsers
• Before card expires
• Letter
• Telephone
• Survey
Prevent lapsers
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Email example
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Poll
Should you stop appealing to monthly donors?
February 18, 2015
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Absolutely Keep
Communicating!
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Recognize in appeal
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Plan for Success!
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Annualize Results
Monthly Donors Source
# of monthly donors acquired
Average gift Average Yearly Gift
First year Cume
Totals 170 $10 $120 $20,400
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“The beginning is perhaps
more difficult than anything else,
but keep heart,
it will turn out all right.”
–Vincent van Gogh
February 18, 2015
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Download templates
• Tax letter template
• Email example template
http://bit.ly/1zjgouF
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Resources
• Erica Waasdorp, Monthly Giving. The Sleeping Giant.
amzn.to/1jFMRmU
www.adirectsolution.com
Templates, Blogs on monthly giving
• Network for Good Guide on Recurring Giving
bit.ly/1prks8d
• Donate Now
http://www1.networkforgood.org/for-nonprofits
• PayPal for nonprofits
http://bit.ly/1ns4uIc
February 18, 2015
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Questions?
www.adirectsolution.com
February 18, 2015
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Erica Waasdorp
A Direct Solution
PO Box 757
Marstons Mills, MA 02648 USA
Tel: 508-776-1224
Fax: 270-633-1744
www.adirectsolution.com
@ericawaasdorp
Monthly Donor Calculator bit.ly/T1dSdr
February 18, 2015