During a recent webinar I did for DonorPerfect and the Chronicle of Philanthropy, the question came up: How do monthly donors compare to annual fund donors?
The answer is, monthly donors are really annual fund donors, EXCEPT they’re giving MORE MONEY and they give REGULARLY. So, they’re a step up!
And even better news is that many monthly donors will also still give to your annual fund appeals (if you ask them). Often they came to you first because they gave to an appeal. Asking donors to give monthly is not only convenient for you and your cash flow, but it’s also more convenient to your donors. You’re really doing them a favor if you offer monthly giving to them.
I find that so many organizations are only sending two to four appeals to their annual fund donors to begin with, so never be afraid to ask monthly donors to make a special gift. Just recognize them in a special way.
If you look at the donor pyramid, you’ll see that monthly donors fall just above annual fund donors, because you’ve UPGRADED them to give more money. In many cases, they’ll give you three to four times more. They’re going to stay with your for many years to come, and, they’re going to be 6 to 7 times more likely to leave you in their will. What’s not to like about that?
But, remember, unless the donor asks you to only send you one update a year, make sure that you keep them in your mail communication stream. They really like what you do and they really are part of your organization. By converting an annual fund donor into a monthly donor, you’ve made them an even bigger investor in your mission. So make sure you treat them appropriately. They’re really not your tiny donors any more!
If you’d like to find out how to grow your monthly giving program, just contact the Monthly Giving Help Line . It only takes one extra new monthly donor to pay for it! You can’t beat the price.
Sign up for my blog so you’ll receive future posts on monthly giving and tools as they’re developed. And if you’re interested in finding out how to start or grow your monthly giving program, just contact me!
