A monthly giving program is not only beneficial for the organization, but the donor as well. This is why many donors look for such programs.
First, monthly donors tend to stay with an organization for much longer compared to annual donors. Plus, they also give more money than other donors. For instance, a donor that gives on yearly basis will more likely donate $200 per year but a monthly donor will at least donate $30 to $40 per month and will continue to do so for many years.
For donors, it is beneficial because they have to donate in small amounts, which means there’s no burden on them.
If you are planning a monthly giving program, or if you wish to know more about it, continue to read this article.
Why Do You Need A Monthly Giving Program?
Monthly giving programs help you get a fixed amount of income on a monthly basis.
Arranging monthly giving programs make it convenient for you to manage your budget on a monthly basis. You don’t have to bear large costs and you have the luxury of planning according to a monthly budget.
Such forms of donations strengthen the bond between both the parties (the non-profit organization and the monthly donor). A yearly donor may not even know the organization personally as he or she donates just once a year, and doesn’t come much into direct contact with the organization. However, monthly donors usually get to meet the organization and see what they’re up to and engage with them.
How To Throw A Monthly Giving Program
To make your monthly giving program effective, you need to convey a strong message to the donors about what you organizational aims are and what you hope to achieve.
Donors are more attracted towards nonprofits who are working for the welfare of the society, such as spreading education and eradicating diseases. So before you invite donors, make sure that your message is on point and has weight.
It is better to let the donors know how their monthly income is used by you. Getting to know that their money is being used in the right places will most likely make them increase the amount they pay next month and they will stay with your for a long period of time.
A smart move would be to look into the organizations that have been running successful monthly programs for many years now. You can turn to Greenpeace, Oxfam and World Vision and get to know how they operate. These organizations have around a million donors helping them out in their cause to serve the society.
There’s no doubt about the fact that getting donors for a monthly program takes time. You need to be patient and more importantly, you need to be committed and dedicated towards the cause you’re aiming for.
Where To Find Donors
It is not very easy to find donors, especially donors who will stay with you for a long period of time. When it comes to large organizations, it’s not much of a problem to find donors, they can even get some people to sign up for monthly programs in the streets because of their reputation and social message. However, it can be daunting for smaller organizations to find donors for monthly programs.
A good and effective approach is to seek help from your existing donors to find more suitable donors for monthly giving, or even better if you can convince your most loyal donors to switch to a monthly giving program rather than following a yearly giving program.
Monthly donations are far better than yearly donations because you can have peace of mind that you’d be receiving a fixed amount of money. This results in better planning and management.