This year is a great time to strengthen your monthly giving program. By focusing your time and energy on monthly giving, you can promote the sustainable growth of your fundraising program post-pandemic.
Here are a few reasons why 2021 is the year to invest in monthly giving:
1. Your donors might be more receptive to monthly giving right now.
Amidst the pandemic, people are looking for ways to support their community to feel connected. At the same time, many are experiencing a sense of economic anxiety.
A monthly donor program (with robust stewardship) is a great way for donors to feel connected while fulfilling a sense of purpose. It’s also an opportunity for donors to give a smaller amount each month. As opposed to one large lump sum gift, which can sometimes feel daunting.
2. Earning the trust of monthly donors is key to your organization’s ability to innovate.
In an increasingly competitive landscape, many organizations are investing a great deal of time and energy into forms of fundraising. Like foundational, corporate and government giving, which often come with many strings attached and a narrow mandate.
A lack of organizational history can make it difficult for new organizations to get their foot in the door. Longstanding organizations may be over-reliant on these sources of funding forcing them to scramble when priorities change.
Having a strong monthly giving program with a reliable stream of revenue means that your organization is more adaptable and resilient to funder shifts in priorities. Once you earn the trust of a monthly donor, your organization earns the sustainability and freedom to be innovative. Then you can listen to your sub-sector’s experts, instead of trying to fit your projects or fundraising asks into the mould of a granting body’s priorities.
3. Changing demographics may lead to an increase in monthly giving.
Although Millennials may not currently give the same sizeable donations as Baby Boomers or Civics, they are very active in their giving, and 52% were found to be interested in monthly giving (The Millennial Impact Report). As we see a transition in wealth from Baby Boomers to their Millennial children, this is a giving behaviour that we ought to keep in mind.