How does Monthly Giving Jive with a membership program? Great question. It jives really well, but if you’d like to grow your number of monthly donors, you’ll have to ‘think’ a little bit differently about memberships.
Basically what you’ll start allowing your members pay for their membership on a monthly basis. Key with this is that you recognize the member as a monthly donor and as a member at the same time, so the minute they join, you’ll have to recognize their membership benefits.
This approach has a huge advantage! You do not need to ask the member to renew any longer! So, make sure you take new monthly donors out of your membership renewal series right away. And do make sure that they receive their membership card and any other things you promised them right away.
Why do you think so many public TV and radio stations have grown their monthly donor programs so extensively? Because this is exactly what they’re doing. Because sending out renewals are expensive. And, in most cases, they’re getting members who donate much more than they would ever before. For example, if your typical membership rate is $45. Well, if you can convert someone to a $5 a month member, you’ve just received $15 more.
But, but, but… I hear you say: how about those members who stop before their full membership rate is paid?
Well, you’ll be on ‘top of them’ too, right? If it’s because the credit card has changed or expired, this is something you can pay attention to when you take the card information. Now’s a great time to reach out to the donor and ask them for their updated information, or better yet, because this is oh so convenient, ask them to give you their bank account information and set them up as an EFT donor . Then you’ll never have to worry about cards expiring again. Your member retention rate has just skyrocketed even more.
But, but, but… I hear you say: Where do I now count these donors? Does my membership revenue go down because they’re moving to the monthly donor bucket?
Donors? Members? Monthly donors? They’re just words we’ve created to put supporters in a ‘bucket’.
Donors think of themselves as members in many cases already. If you can make it convenient for them to support you, does it matter which bucket we fundraisers put them in? They are supporting you on an ongoing basis with money you can count on, without having to send out renewal series any longer.
I like it. Do you? But more importantly, does the donor?
If you’d like me to help you integrate monthly giving with your membership program or if you have any questions, simply email or call me at (508) 776-1224.
You can also 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.
Or you can schedule some time for an Audit to look at your overall program.
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!
