As electronic donations continue to increase, there are various ways to take advantage of the giving trends.
Since 2015, banks have been replacing magnetic-stripe cards with chip-enabled cards in record numbers. This has left everyone—including nonprofits—struggling to maintain accurate data.
Use the month of January as an opportunity to ask all your year-end one-time donors to make a New Year’s commitment to your mission by becoming a sustainer.
Sustained giving. Recurring giving. Monthly giving. It doesn’t matter what you call it. What does matter, though, is making it an integral part of your fundraising mix.
Online fundraising research suggests that if you move an online acquired donor to on offline channel (i.e. direct mail) you’ll increase the lifetime value of that donor from $128 dollars to $197 dollars – An increase that any nonprofit organization would love to see. The catch is that only 32% of online acquired donors make the switch. Not encouraging. Which leads me to the number one reason you need a recurring giving program.
You’d probably agree that, along with looking to increase the lifetime value of donors, many nonprofits (possibly yours) are striving to do more with less while also looking for new ways to secure consistent funding. All things recurring giving can help with.