Benefits of Creating a Monthly Giving Program (from Bloomerang)
Benefits for your organization
Your monthly donation program can offer your nonprofit:
1. A reliable, predictable source of ongoing fundraising revenue . Your monthly donations can fund everything from ongoing projects to unexpected expenses.
2. A pool of planned and major gift prospects . Since monthly donors give consistently, they have the potential to offer a greater lifetime value to your nonprofit than one-time or occasional donors. You can conduct prospect research within your monthly donor pool to identify planned and major gift prospects.
3. A higher donor lifetime value. Since monthly donors give consistently, they have the potential to offer a greater lifetime value than one-time, occasional donors. With effective donor stewardship strategies in place, you can boost your monthly donors’ lifetime value even more and encourage them to continue supporting your cause for the long term.
Benefits for your donors
There are also several reasons why making a recurring donation is beneficial for your donors. These include:
1. Convenience . Monthly donations are automatically processed, meaning donors don’t have to input their payment information or mail in their donations every time they want to give.
2. Flexibility. Monthly donors can adjust their donation amount over time.
3. Access to exclusive opportunities . You can offer donors additional benefits when they sign up for your monthly giving program, such as exclusive event access or free merchandise. This helps them feel more connected to your organization.
