One of the best ways to find out what a good donor experience looks like is to talk with your current, loyal donors. By listening to what matters to them and what makes them feel connected to your organization, you’ll gain specific insights that will help you craft an experience that’s effective at converting new donors to recurring donors. Plus, you’ll improve your relationships with your loyal donors! While one-time donors are, naturally, very important, recurring donations are the most sustainable source of income for an average nonprofit.
Recurring giving programs (e.g. monthly giving programs) have a much higher return on investment compared to one-time giving programs.
Let’s share you a few ways to Convert New Donors to Recurring Donors
1.Make Sure Your Technology is Up To Speed
Before you ask a one-time donor to become a recurring donor, make sure your technology is up for the task. Your systems should be ready to handle a recurring donations program by being able to accept and process recurring donations. Ideally, your fundraising system should process the payments securely, as well as store donor information safely. A good fundraising software is essential if you want to make a recurring donation program a reality.
MYFUNDBOX Fundraiaing CRMs a powerful and efficient donation management system optimized for recurring donations. It will make building your own donation pages much easier and will provide you with a number of features and benefits, such as:
Recurring giving
Donors having the option to manage their recurring donations at any time
Pre-filled custom amounts with descriptions to let your donors feel great by knowing what they’re contributing to
Optimization for desktop computers, mobile phones, and tablets
Accepting donations on your Facebook Page
2. Get Feedback
It’s no secret that asking for feedback makes people feel valued. It helps you to understand their thoughts, feelings, and preferences. Similarly, asking donors for feedback and implementing solutions and/or programs that appeal to them will likely result in donor loyalty.
Getting feedback is helpful not only for providing you with insight, but it also makes donors feel valued. When you listen to a donor’s ideas, you’re validating that individual’s worth.
MYFUNDBOX Donation management Software provides a efficient way of managing donations received by donors and its very transparent to donors to see their donations with their individual donor login
3. Express your gratitude frequently
No matter the size of the donation, everyone who gives to your organization should receive a sincere “thank you.” In this letter of appreciation, it’s a good idea to reiterate what their money will be used for. Use this opportunity to generate excitement about the program their gift will benefit. And don’t limit your appreciation to a one-time letter. By expressing your appreciation multiple times throughout the year, you’ll simultaneously remind the donor of your organization and the work you’re doing, which may result in another gift.
4. Incentivize Your One-Time Donors
Incentivizing your one-time donors to become recurring donors is essential if you want to kick off your recurring giving program. Donors can be incentivized in many different ways.
For example, make it known to your supporters that they can cancel or change their donation at any time. This is likely to put them at ease and they will feel a lot more comfortable becoming a recurring donor.
Also, don’t forget to offer a variety of options for frequency of gift, as some may find a monthly donation too much.
MYFUNDBOX Donation management is designed in such a way that donors have the option to manage their recurring donations at any time.
Recurring giving is the way to go to ensure stability and sustainability for your nonprofit organization. It gives you the opportunity to create a steady income stream that allows you to plan and budget accordingly. It provides an opportunity for your donors to engage with your cause in a more meaningful and frequent way.
Attracting first-time donors requires a great deal of effort and investment, so we hope you consider using these above tips to retain your one-time donors and turn them into recurring donors.
MYFUNDBOX Fundraiaing CRM allows you to track your supporters. It helps you organize, analyze, and strategize how you communicate with anyone who has donated to or otherwise supported your organization. This software helps you to reach new donors and engage more effectively with your existing network.
So choose MYFUNDBOX as your donation management system today.