Monthly giving programs are a worthwhile initiative, however many non-profits do not see the benefits. Any donation should be taken seriously and if you do some research of other organizations you will see that monthly giving can raise your funding base. There are a few ideas that might work for your organization.
- Your monthly giving should be treated like any campaign. Name it and promote it. This segment of your investor data base could become a gold mine for you. It will need to be promoted as well as giving those new investors more than adequate recognition. This campaign should have a different slant towards giving and yet each monthly gift should be recognized.
- Create a community of giving that will make the monthly investor see as a perk for their gift. Sending a picture of a program that their money helped to provide food for children or ask a scholarship recipient to send a thank you letter. Be creative!
- Recurring gifts should be valued just as much as any other investor gift. You should be able to show impact of their monthly gift just as you would a major gift. Also monthly gifts can be easily increased every month. Be on the look-out for such giving, it could mean that investor is sending a message that they could become a major gift investor.
- All investors want to be recognized and since monthly giving is a campaign, your members should be recognized accordingly. They should be listed on your website with the campaign name and monthly givers names on the site. Remember you need to inquire if the investor wants to be recognized. If you send out a newsletter be sure to do a stewardship piece on monthly investors. This may create interest in someone reading about monthly giving.
- Remember to promote this campaign just as much if not more than our annual fund or a capital campaign. You never really know what is the motivation behind a monthly investor. They may eventually see themselves as major donors later on. Some staff should be dedicated to making calls and thanking these investors just as you would you major and principal investors.
There have been stories where it turns out that a monthly investor is quite wealthy and ends up leaving a rather large bequest to your organization Never under estimate any investors capacity.