Some organizations call it monthly giving, while others refer to it as regular giving, recurring giving, or sustainer giving. No matter which name it goes by, one thing is clear – donors who participate in regular giving programs are an important source of donations for nonprofits. Today’s guest understands that importance and how organizations can harness the power of monthly giving.
Erica Waasdorp is an author, presenter, and the president of A Direct Solution, a company that helps nonprofits develop and manage monthly giving campaigns, among other things. Listen to the episode to hear what Erica has to say about why US-based nonprofits have been slower to switch to monthly giving, how organizations can get started building a monthly giving program, and what happens when annual or one-time donors make the switch to monthly donations.
Topics Discussed in This Episode:
- Why it’s important for organizations to build recurring or monthly giving programs
- Why charities in the US have been slower to adopt monthly giving
- Different ways that donors can make recurring donations
- How Erica would recommend an organization go about building a monthly giving program
- How to prepare to scale a monthly giving program
- Converting existing annual or one-time donors to monthly donors
- What organizations can do to revitalize a recurring giving program that’s stalled
“If you can move a donor from giving $25 or $40 dollars a year to giving $5 or $10 a month, then you’re not only generating more money, but you’re also keeping them much, much longer.”
“There is definitely that potential to try to upgrade monthly donors and try to get them to the next level.”
“I recommend you join your own program. You’d be amazed at how few people actually do that. You would want to join your own program because how else can you promote it to other people?”