Trend #7: Monthly Donors Are Going UP!
Great news – more and more people are becoming monthly donors to their favorite causes!
Thank goodness.
After so much dismal reporting about small donors dropping off, overall rates of giving going down, and retention rates declining across the board – we need some good news.
So hurray for our monthly donors – because they are showing robust growth.
Monthly donors give more.
Consider this:
- The average gift in the mail is $58.
- The average gift online is $96.
- Donors giving monthly contribute between $276 and $432/year!
(Sources: M&R, Network for Good, Blackbaud Luminate Online Benchmark Report 2019 (2018 data))
So, if you can convert one of your current donors to give monthly – you’ll see their giving at least triple.
And more people are giving monthly.
Blackbaud reported that in 2018,
“Sustainer revenue grew by 18.4%, compared to 7.4% growth for non-sustainer gifts.
“Organizations that focus on growing monthly giving create a revenue base to build upon year after year.
Monthly giving is becoming increasingly important part of everyone’s annual giving program.
Blackbaud reported that in 2018, with some vertical sectors showed 20–40% growth in sustainer giving.
More dollars from your existing donor base.
Take a good look: If you are looking for growth in your annual fundraising revenue – monthly giving is a wonderful strategy.
When you focus here, you can turn small donors into much larger donors.
And this is without the struggle to acquire and retain a new donor.
There is simply a portion of your current donor base who suddenly are giving at least 3 times more.
I think this is a no-brainer. It’s like taking your stable base of current donors and simply raising more from them.
Retention rates for sustainers are going up too.
The best new of all, retention rates are going UP for monthly donors, according to Blackbaud Target Analytics.
This proves the point that when donors have their favorite charities, they really will dedicate themselves to these organizations.
Want to expand revenue from your own monthly donors?
Then launch, expand, focus on, and perfect your own monthly donor program.
Remember – it’s a long game, as the idea of becoming a monthly sustainer lands in the hearts of your loyal supporters.
It takes a while to sink in.
That’s why gentle, “cheerfully aggressive” reminders are so important.
Just keep reminding your annual donors about how they can increase their own impact by switching to monthly giving.
Our INSIDERS educational community will be focusing on monthly giving in October.
Erica Waasdorp, one of the leading international experts in this area, will be coaching and guiding us. On October 2, she’ll share:
Monthly Giving 201: How to Grow, Retain and Upgrade Your Monthly Donors
I think you should be there for this important lesson!
The INSIDERS subscriptions are on sale for only a few more days.
Join us now, so you can keep up with the latest in fundraising and make sure your organization raises the money it needs!
Bottom Line: Monthly Donors are Going Up!
Here are two more sources from our blog on how to launch, build and expand your monthly donor program:
How to turn monthly donors into regular donors.
18 tips to create a wildly successful monthly giving program.
