Recurring donations are a vital part of increasing your nonprofit’s bottom line. They also can stabilize your nonprofit’s budget simply and securely. Statistics show that supporters who make recurring donations give 42% more per year than those who give one-time donations, and their gifts average $624 annually compared to the average one-time gift of $128.
By encouraging your givers to set up recurring gifts on monthly, weekly, or bi-weekly frequencies, you’ll see giving stabilize and even increase throughout the year.
When you communicate the benefits of recurring giving—both for your donors and for your ministry—you can expand this segment of your donor base.
What are recurring donations?
What are recurring donations, exactly? This is a feature that allows your donors to give consistently and repeatedly while only requiring that they enter their gift amount and credit card or bank information one time. These donations are an automated and reliable cash flow that are deposited directly into your nonprofit’s bank account and provide clear data for planning and reporting—allowing leaders to confidently budget for future events and outreach opportunities!
Here are five facts to share with your donors to inspire recurring donations.
1. It’s Easy to Use
Whether your ministry chooses to give online, from their phone, or via text, they can choose a recurring donation option directly from the giving form. If people submit a one-time donation, they can decide from there to simply check a box if recurring gifts are right for them.
2. Small Gifts Can Make a Big Impact
Giving even small amounts consistently over time can have a bigger impact than somebody donating one time. Knowing your monthly contributions helps your organization budget more accurately so you can focus on your mission rather than spending time worrying about finances. Communicate to your donors that by setting up a recurring donation, they are helping you plan better and be even more successful in your outreach together.
3. You Value Your Donors’ Time
Setting up a recurring donation ensures that your donors’ desire to contribute to your ministry happens on a regular basis. They never have to worry about missing a month, making giving even easier. They don’t have to spend time every time they want to donate. Recurring donations save time by simplifying the process and automating what they desire to give.
4. The Process is Safe and Easy
Point out the measures your ministry takes to keep your donors’ transactions and information secure. Provide everything they need to set up their monthly transactions as quickly and easily as possible, either through PAC (pre-authorized checking), EFT (Electronic Funds Transfer), or credit card transactions.
Your donors care about their payment security, that’s why DonorDirect, in partnership with Clover Connect, has taken the necessary steps to ensure the security of your cardholders.
5. Partnership Goes Beyond Finances
Let your donors know how much you appreciate them. Your donors want to know that they are special and not merely a paycheck. Thank them for their contribution. In addition, give them the chance to be part of your ministry beyond their donations. This might include asking them to pray for specific needs, attend ministry events, or offer “hands-on” help. Seeing your ministry in action will engage their hearts and encourage their continued giving.
Reap the Rewards of Recurring Donations!
You know the inherent value of your ministry and what it needs to be successful. By educating your donors on the importance and ease of recurring donations, you’ll reap the rewards! And if you need a robust church management software that can track donations—including recurring giving—segment donors for more effective communication and more, contact our representatives and learn how DonorDirect can help you become even more effective in your ministry! Click here to set up a free demo today.