2 min read ✭ Today’s post will highlight 3 steps your organization can take to turn holiday giving into recurring donors and predictable revenue.
The data is clear, a recurring donor has a 5 to 6X higher lifetime value than a one-time donor. The predictability of strong recurring giving and what that can mean for your organization cannot be overlooked as we enter the holiday year-end giving season, which is a major time for donor acquisition. Organizations that capitalize on year end and roll it into more recurring giving really thrive.
Here are a few tips to understand how to bridge the gap from holiday giving into recurring donorship.
Step 1: Strong Gratitude for Year End
Segment your donors and communicate in a way that’s personable. Show that “you get them.” This might require some research as to why they gave. Saying thank you in a really thoughtful, caring and compassionate way goes a tremendous distance. Instead of just sending a transactional email. Take these extra steps and get your org to stand out on the stewardship front.
Step 2: Create a Solid Recurring Giving Program
It needs to pop, inspire, resonate and stand out. Analyze organizations that are doing this well. For example, Charity: Water with the Spring or Pencils of Promise with Passport. You have to figure out and map why your organization is special. Most organizations have a donation suite, so you just need a value proposition as to why somebody should donate monthly. From here, you can really start to capitalize.
Step 3: Market Your Offer
By Quarter 1, you should have already said your thank yous, the relationships have been built, and you should have a strong recurring offer. Now you have to market it. This requires email drips and often takes multiple touch points like Facebook Ads. Really work to key audiences about to why these programs matter, especially if you have a fairly decent current donor list that’s only given once, or a lapsed donor list that needs something exciting to give back to.
Get this into your business model. Focus on building your specific strategy to bridge the gap from acquisition to recurring giving in 2020. Your recurring giving program is your canvas to paint.
When you have a strong recurring giving program, then you have donation appeal that can be marketed by building marketing funnels all year long. This is invaluable because your organization won’t be so dependent on specific seasons or campaigns.
Has your organization benefited from a recurring giving program? If you’d like more advice for how to add predictable income into your business model, click below to connect with one of our digital marketing specialists.