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You know you want monthly donors.

How about low-dollar monthly donors? Like $5 a month?

You've probably heard the argument that it's not worthwhile because the credit card fees eat too much of the donation. If you think that, read this post from A Direct Solution, at 10 Reasons Why Small Monthly Donors Are Worth the Effort:

  1. You're truly showing donor care. No gift is too small.
  2. You can upgrade small monthly donors to higher levels within the year.
  3. Even small monthly donors can leave you in their will.
  4. Recruitment fees for monthly donor fees are minimal.
  5. The finance fees are not that high. (Typically around 45¢ for a $5 donation.)
  6. If you annualize the value of that small monthly donor, it's going to be $60 -- $54.60 after fees.
  7. Many online systems allow the donor to pay for the fees, and some 70% of donors do this.
  8. The average monthly donor is $24 a month, so the $5-a-month givers are really more the outliers.
  9. Your response rate will go up if you ask for a lower amount.
  10. Typical monthly donors stay with you for five to seven years, and sometimes even longer.

Low-amount monthly giving is less common in the US than in most of the world, mainly because face-to-face (street) fundraising is less common here. It's especially worth adding to your fundraising line-up if:

  • You're doing face-to-face fundraising.
  • You're doing event fundraising.
  • Your target donors are heavy on younger people (that is, below 50).

Don't write off those low-dollar monthly donors. They're worth your while.

Want help with building your monthly donor program or anything else in your fundraising? I'm available for free 25-minute coaching sessions. Just click here and directly schedule an online conversation with me or with Sean Triner.



from Future Fundraising Now https://ift.tt/2HAIctP

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