For the last year, I have been talking more often with clients about the importance of monthly giving programs. I have been reading and digesting and trying to coalesce around some ideas and plans that can be shared.
How many of us signed up for a streaming service four or more years ago and can’t even tell you how much we are paying each month? I signed up for a platform that streams performances of Broadway shows early in the pandemic and just remembered as I was writing this newsletter that we still have it.
And I’m not even going to mention that gym membership that comes out of the checking account each month.
We know that getting donors in the habit of making gifts is a critical piece to renewing their support. The rise of subscription-based models is making this work for us even easier. If we can use these monthly gifts as an opportunity to forge a deeper relationship with our donors, we have a better chance of retaining them.
After listening to Minnesota Public Radio’s classical music stream for “free” for many years, I decided a few years ago to become a member. Of course I support our local public radio affiliate, but MPR’s 24 hour classical streams are exceptional. I listen during my workday, when I am reading, and sometimes when I am just out on a walk and need to decompress without words.
Their monthly member newsletter is a ray of sunshine (and sometimes snowstorms), even for those of us who don’t live in Minnesota. It is light, informative, and always points me back to an upcoming program or conversation that might be interesting. More importantly, they are always talking about the impact my gift is making on their work and on the community. They talk about the impact that “sustaining members” have on their planning and programming for the entire year.
And about once a quarter, I receive a thoughtful message from them, asking if I would consider increasing my monthly gift by just $2 or $3. I don’t always do it, but I certainly stop and think about upgrading each time they ask. Because even though I am making a small gift, they are thoughtfully and intentionally keeping me updated and helping me see impact.
I know, I know. Public media has been the rockstars of monthly giving and the subscription model for decades. Where do those of us who have never done this even start?
First, be creative with what you call it and what your messaging is going to be. Gather a small group of trusted advisors who you can sit with and brainstorm.
What do we call it?
What is the impact of these recurring gifts?
How does steady and reliable income help us do our work?
How do we show the power of small recurring gifts over time?
Then think about how you are going to treat these donors differently. Because they behave differently.
What are the monthly giving society donor benefits?
How do we communicate with them outside of their giving?
How do we acknowledge their gifts?
How do we personalize it for each person?
And then get to work looking for these prospects in your database.
Who are the donors giving 3 or 4 or more gifts each year?
Who are the younger donors already used to the subscription model?
Who are the first time donors?
Who are your special event attendees that you’re looking to convert to become annual, on-going donors?
I want to come back to the power of the small, recurring gifts. For many of us, making a $25 gift each month is a lot easier than writing a $300 check at the end of the year. It is important to remind donors that their impact is greater than they think.
Several years ago, I was making the annual back-to-school giving speech to a group of teachers. Our goal each year was to secure 100% participation from the faculty and staff so that we could use that as leverage among the parent community. As I was looking through the forms of people who signed up to give from their paycheck, I came across one teacher’s form that left me in shock.
$50 from each paycheck. $1,300 annually.
That is a significant gift for a teacher and I wanted to make sure that they didn’t mark something by accident. So I dropped by their classroom and sat down for a conversation.
“$50 each paycheck. Are you sure?” I asked.
“Absolutely” they countered. “It is easier for me to spread a bigger gift out over the whole year. We spend that at dinner or Costco, so why can’t I do something that is making a difference?”
I told them that their gift was more than many parents give to the school - parents with greater means. But what did matter is when I shared that being able to count on these recurring gifts gave the school some reassurance that the educational magic can continue to happen. Their small gifts combined turned into something transformational.
The last thing I will say about monthly giving in this post is to make it available and accessible to all of your donors. We know from our marketing lessons that the more people see something, the more likely they are to engage with it and explore it.
Can we make recurring giving more front and center or our reply devices?
How about adding “Want to increase your impact and make that gift a monthly gift?” and a QR code to your acknowledgement letter?
Now is the time to use monthly & recurring gifts to strengthen relationships. Do you have a monthly giving program? Are you thinking about starting one?
Drop us a line and we’d love to chat!
John Mainella
Cape Fletcher Associates