Fundraising - Monthly Giving Strategies
In their book Building Donor Loyalty, Adrian Sargeant and Elaine Jay wrote that by the mid-2010s the majority of individual-giving solicitations will be for this kind of gift. They offered a ten-step guide for establishing a monthly giving program.
- Research and plan. Check the activities of competitors and of charities of the same size in different fields.
- Make cost projections. For this you must have accurate data on current donors.
- Set up payment arrangements. Your organization's bank should be one of the first suppliers you contact.
- Establish database and reporting routines. For each monthly donor, your system needs to be able to hold a record of the gift arrangements and the payment made.
- Emphasize donor care. Monthly givers should receive a high standard of care, with high-value givers selected for special treatment.
- Test existing donors, existing media. Start by trying to convert existing donors to the new method.
- Test donor recruitment. Use media that can be controlled tightly, such as direct mail.
- Test new media. Use means of communication that donors prefer.
- Monitor and evaluate. New measures, such as calculation of lapse rates, must be instituted.
- Expand the program. Monthly giving should be rolled out through all viable recruitment routes using all possible fundraising methods.
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