Can you pull in new monthly giving donors from your regular appeal letters? Yes, you really can. It’s actually quite easy to generate new monthly donors via your regular direct mail fundraising program.
Today we have a Guest Post from Erica Waasdorp, Monthly Giving guru.
Erica Waasdorp is an international consultant, trainer and speaker with deep direct response experience. She’s author of Monthly Giving, The Sleeping Giant, an excellent guide to setup a profitable monthly giving program. Erica has directed acquisition, monthly giving, major-donor and planned-giving programs in seven countries: US, Canada, UK, the Netherlands, Germany, Australia and South Africa for the International Fund for Animal Welfare. Her upgrade strategy for the monthly giving program in the UK won IFAW and their telemarketing agency the Gold UK DMA award and the Gold FEDMA Award in 1998.
Erica recently gave an Advanced Monthly Giving Presentation for us:
If you’d like to create or upgrade your own monthly giving program with 49 examples of how to ask and close monthly gifts clink the above title link.
Here’s Erica’s guest post:
The two rules for closing monthly gifts via mail:
1. Ask the right donors
2. Ask the right way
So who are the right donors, you might ask? The most likely monthly giving prospects are are donors who just gave! They can be existing donors, but even new donors who just gave for the first time.
The most likely monthly giving prospects are the ones who just gave.
They are also donors who gave less than $100. They are not your big check writers. Timing is crucial. They are enthusiastic right now, just after they have given. They have given their support to your cause. They’re happy! Now’s the time to ask them to either join your monthly donor program or for that second gift.
Ask for a monthly gift in the right way – even in a thank you letter!
If you ask the right way, you’ll be able to convert new donors as soon as they join your organization. Here’s an example of the approach to use, right in the thank you letter:
Thank you so much for your gift of xx$xx to [name of organization]!
[Focus on why the gift is important for you and the impact it’s making on the people/animals/mission you serve].
That’s why I’d like to invite you to join a privileged group of special supporters, called [name of program].
[Focus on benefits and ease of program for donor]
Note, the benefits should really focus on the donor, how easy it is for them, how they can donate even smaller amounts, convenient. Then include a paragraph on how important it is to the mission you serve that the funds come in on an ongoing basis and that you can count on it. Print the text in large letters so it even looks easy and convenient from just looking at the appeal.
Where to make the monthly giving ask?
Include the option of monthly giving first on the reply form and add this option:
Make a one time donation.
Not everybody may be ready to join your monthly donor program but you will still receive donations.
I have seen response rates of 1.5 to 2% of donors joining the monthly donor program and response rates of 4 to 5% of donors making a one time gift in the thank you letter.
Consider doing a simple variation of this letter and send it to donors who just donated to your direct mail appeal.
What do you have to lose by starting to ask your donors to join your monthly donor program early?
They’ll stay with you a lot longer if you do!
Don’t forget to get Erica’s presentation if you want more help.
You can find out more and purchase the $49 webinar recordings here.