Are you looking to create a steady stream of income for your nonprofit? Monthly giving programs might be the answer you've been searching for. In this episode, I'm joined by Katherine Lacefield, a seasoned philanthropic consultant with over 20 years of experience, to explore the power of recurring donations.
Building a Successful Monthly Giving Program
- Creating a compelling narrative around your program
- Crafting an exclusive experience for monthly donors
- Implementing effective stewardship strategies
Strategies for Growing Your Monthly Donor Base
- Targeting existing donors for conversion
- Segmenting your audience for personalized outreach
- Leveraging year-end campaigns to boost monthly giving
Retaining and Engaging Monthly Donors
- Tracking key metrics for program health
- Conducting exit surveys to improve retention
- Making the giving experience fun and memorable
One of Katherine's standout tips? Don't wait for perfection. Launch your program and refine it as you go. Remember, if you don't believe in the value of monthly donations to your organization, how can you expect others to?
Whether you're considering starting a monthly giving program or looking to revamp an existing one, this episode is packed with actionable advice to help you create a sustainable source of funding for your nonprofit.
Ready to take your fundraising to the next level? Tune in now and discover how to build a thriving community of monthly supporters for your cause.
Want to Skip Ahead? Here are Some Key Takeaways:
03:28 Exploring the Benefits of Monthly Giving The advantages of monthly giving programs for nonprofit are consistent finances, operational stability, and sustainability. Its cost-effective and a great long-term value for organizations.
08:18 Crafting an Effective Monthly Giving Campaign Create a separate donation page, name the program, and develop stewardship strategies. It's also so important to build relationships with donors and suggests personalizing communication to increase retention and engagement.
15:49 Strategies for Growing Monthly Donor Programs To start building your program start with existing donors. Segment your database and craft a compelling story. Get an example of a client that converted on-time donors into monthly donors and how clear communication and goal-setting is impactful.
24:47 Tracking and Improving Monthly Donor Retention Monitoring monthly donor retention and gathering feedback is critical to the health of the program. Track donor longevity, reasons for leaving, and overall satisfaction. Even if someone stops being a monthly donor, maintaining relationships is important to encourage future support.
28:25 Final Tips for Successful Monthly Giving Programs Build confidence in your organization's mission, don't waiting for perfection before launching, and making the donor experience fun and engaging. Build personal connections with donors and think creatively about fundraising approaches.
Katherine Lacefield
Katherine Lacefield is a trusted partner in the philanthropic space, leveraging over 20 years of experience empowering organizations and individuals to bring about positive impact in their communities. Her knowledge and expertise span many areas, from overall fundraising strategy, monthly donations, major donation campaigns, and peer-to-peer, to a nuanced understanding of the global grantmaking landscape, animal welfare and rights, and sustainable development. She is the founder of Just Be Cause Consulting and the host of the Just Be Cause Podcast.
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