If you’re an organization that has had monthly donors for a while, you’ll know that some of your monthly donors can and will stay with you for decades! Of course that in part depends on their age when joining. Typically, I’m seeing that those donors continue to give monthly for 5 years to 7 years. That’s great news, isn’t it?
If you treat your monthly donors like your best friends, the news will get even better! Because these “small” donors will leave you in their will!
But you do have to say “thank you” like you mean it. You’ll have to cultivate them and keep them up-todate on what’s happening with your organization. You’ll need to tell them how they’re the hero in the lives of the children, animals or clients you serve. You’re making sure you have an inbound telephone number and email address they can use if they have questions. They will have those because they care enough about your organization they’re giving you their coveted credit card of bank account information.
And during your friendship with them, occasionally broach the topic of how they’re so important to your organization that you’d like them to consider leaving your organization in their will.
Gently plant the seeds, so they can truly leave a legacy when they pass on. If you can find a donor who has told you why they’ve left you in their will and you’re able to use that story in your newsletter, email message and a special invitation, you’re truly “golden.”
If you treat monthly donors like your best friend, you’ve made it more comfortable to have that important conversation for what happens if they’re not here anymore. Don’t be surprised to learn that they are 6 times to 7 times more likely to leave you in their will than other donors who do not have this tremendous ongoing relationship with you.
Monthly donors may not be able to write the big checks, but they are willing and able to leave you in their will.
This statistic is based upon studies done mainly in the U.K. (where they actually review every will), and I’ve seen it with one of my clients here. A year ago, when we looked at the sources of their legacy income, we found that 75 percent of it came from monthly donors. Another reason why monthly donors are so powerful, you know!
This post was first published on Nonprofit Pro.
And here are a few other great resources and freebies for you:
- M&R Strategic is finalizing their wonderful research on trends in online giving, including monthly donor info. Go here to make sure you get it as soon as it arrives! (Don’t worry, I’ll definitely be referring to it).
- Speaking of research, make sure you sign up for your free monthly Nonprofit Pro Magazine. The April issue will include some great new research from the Blackbaud Target Analytics (TM) Sustainer Benchmarking Study 2016!
- Direct mail is far from dead, so I’ll be presenting a webinar on direct mail nuts and bolts, Use coupon code ERICA to get a 20% discount!
- If you’re interested in learning more about sustainable fundraising, check out the Eight Principles, you’ll not be disappointed. I’m one of the Fellows, more to follow!
- Check out a great way to improve your donor retention even further with eCheck processing. Thank you Ronald Pruitt for sharing this with me.
- Facebook and Facebook live are growing and a terrific way to start generating monthly donors. Check out these great resources from John Haydon!
- If you’re an advocacy organization, check out a way to ignite engagement with a photo contest.
- A new infographic on monthly donors and I’m quoted in it…Check it out. Thank you, Pursuant!
- Jay Love of Bloomerang wrote a new book on ‘staying together’… You can download it here
- Ann Green joined as a monthly donors herself last fall and shares some great examples of how to make monthly donors feel special. Thanks Ann.
- Consider a google grant to grow your email audience, go here to find out how to apply.
- Amazon Smile: What a great way to generate some money at no charge to your donors!
- We Microgive: offers a way for donors to round up their credit card payments to the next dollar and indicate which charity they’d like the roundups to go to.
- If you’re ready to make your next move, check out Mazarine Treyz Fundraising Career Conference.
- To receive a free video in your inbox with a great story from or about fundraising, check out Movie Mondays