Your organization may have heard about matching gift programs – they are after all one of the most underrated revenue streams for nonprofits to bolster funds without asking donors for larger contributions. But did you know that despite being one of the most common forms of corporate philanthropy, there is an estimated $4-7 billion in matching gift funds that go unclaimed each year?
The good news is that despite the fact most nonprofits miss out on these funds, it does not mean that matching gift revenue is out of reach. Organizations simply need to implement the right strategies to take advantage of these programs.
If your organization is interested in taking its fundraising campaigns to the next-level by implementing a matching gifts strategy, then look no further to discover matching gifts best practices. Let’s dive in!
Educate your Organization and Donors about Matching Gifts
Most donors don’t know about matching gift programs – so it’s important that you tell them! The first step to fueling matching gift funds is to educate your donors about these programs, which is pretty vital considering 78% of match-eligible donors don’t realize that they qualify for a matching gift program.
Once donors are aware of matching gift opportunities, they have shown time and time again that they feel empowered knowing they can double the impact they have on your cause.
In fact, educating your donors makes them more likely to:
- Donate in the first place. 84% of individuals said they are more likely to make an initial donation if they know their gift will be matched.
- Donate more. 1 in 3 donors indicated they would give a larger contribution if their donation will be matched.
Creating a matching gifts fundraising campaign can be a great way to garner new donors and boost your base while engaging existing donors with a simple fundraising touchpoint. Be sure to educate donors via as many avenues as possible. One easy way to do this involves creating a dedicated matching gift page nestled among your website’s “ways-to-give” section. You can then share this page via your social media or email outreach, making it a valuable reusable fundraising resource!
Once donors understand that matching gift programs exist, it’s important that they know what to do with that information, which leads perfectly to our next point:
Provide Donors with Guided Steps to Submit their Match
Once donors are aware of matching gift programs, it’s essential that they understand clear steps to get their gifts matched. After all, most corporate programs require donors to take some action, so making this process simple leads to more donors completing this extra step.
The matching gift process can be confusing and varies depending on the company’s program guidelines. For example, programs can vary in:
- Matching gift ratio. Most programs match at a 1:1 ratio, but some do 2:1 or even 3:1 matches!
- Employee eligibility. Some programs match gifts only from current employees, but other programs will match gifts from retired or even spouses of employees.
- Minimums and maximums. Each program has a threshold for the amount of gifts they are willing to match. Minimums are typically around $25, and maximums might vary by tens of thousands of dollars depending on the organization.
While you might not be able to manually communicate every unique parameter to your donors, you can make this process simple by automating matching gift outreach or providing typical matching gift next steps. This will give donors the confidence they need to kick off the matching gift process and pursue a doubled donation.
The best time to provide these steps for the donor is directly after a donation is made – when donors feel closest to your cause and are most connected to your organization. This ensures your call to action catches them while they’re still in the giving mindset. While this method is effective for most supporters, it’s important that you still create a follow up cadence to remind them of matching opportunities. That’s why we recommend that you:
Conduct Follow-Up Outreach
Follow-ups are essential for follow-through. It’s no surprise that it might take a few tries to reach your donors about matching gift funds. We don’t recommend being shy about these follow ups – it’s important that you give donors plenty of chances to learn about their matching gift eligibility.
We recommend providing this information via email messaging after the donation process. It is important to note that matching gift messages should be sent in a separate email from a typical donation receipt. This is because most donors will discard their receipt and assume it does not require any action. A matching gift message on the other hand should clearly convey that next steps need to be taken.
Gratitude messages are a great way to incorporate matching gift messaging into your outreach. Donors will be excited to learn of the opportunity they have to maximize the impact their donation had on your organization’s mission without having to reach back into their wallets to make another donation.
This method is especially valuable because research shows that emails containing matching gift information have a 53% open rate, so these are high-value communications for donors!
The most efficient way to implement each of these strategies is to utilize a matching gift automation software. 360MatchPro by Double the Donation, the industry-leading matching gift solution, integrates seamlessly with DonorDirect to simplify the entire matching gift process for your organization and donors alike.
To get started with matching gifts, schedule a personalized demo today. Be sure to mention that you use DonorDirect when you schedule!
About Double the Donation: Automate your matching gift fundraising with the industry-leading solution from Double the Donation. The 360MatchPro platform provides nonprofits with tools to identify match-eligible donors, drive matches to completion, and gain actionable insights. 360MatchPro integrates directly into donation forms, CRMs, social fundraising software, and other nonprofit technology solutions to capture employment information and follow up appropriately with donors about matching gifts.
To learn more about Double the Donation, visit https://doublethedonation.com and request a demo at https://360matchpro.com/demo-request.
About DonorDirect: At DonorDirect, we’re a team of believers who work with believers. Our purpose is to empower Christian nonprofit ministries through software. For more than 20 years, we’ve been committed to helping ministries spread the Gospel around the world. Our software’s enterprise-wide set of donor management and CRM tools can touch every aspect of what you do with your constituents. With our device-independent platform and optional hosting in the cloud, you’ll have the tools you need to engage your supporters and maximize your productivity. StudioEssentials is designed for small to medium-sized ministries, while StudioEnterprise is designed for larger, international ministries.
To learn more about DonorDirect’s donor management solutions visit https://www.donordirect.com or request a product demonstration at Schedule A Demo.