Do you want to increase your monthly donations? Creating recurring donations can help make that happen. The best part? Recurring donations allow people to get the same access to your nonprofit’s mission every month, without having to go through the whole donation process again and again.
If you don’t have recurring donations set up on your nonprofit website, you are missing out on an easy way to increase the revenue coming in through your site. This post will provide you with 9 reasons why recurring donations are important for your non-profit.
Alleviate Cash Flow Problems
One of the main advantages of recurring donations is that they can help alleviate any cash flow problems your nonprofit might be experiencing.
This is because recurring donations provide a steady stream of income that you can count on, which can help you plan your budget and expenses more effectively. With some organizations seeing donations as small as $5 per month from a large number of donors, it’s easy to see how this could add up!
A Low-Pressure, Affordable Way to Ask for Support
Asking people to commit to a recurring donation is a low-pressure way to request support from individuals. It also allows them to budget their donations and plan, which can make giving more affordable.
Plus, when people sign up for recurring donations, they are more likely to continue giving long-term, which provides your nonprofit ticketing with a reliable source of funding.
Easy Access to a Captive Audience
The average person’s attention span is shorter than that of a goldfish. That’s why it’s important to have a captive audience—an audience that is interested in what you have to say and is willing to listen. And what better way to find a captive audience than through recurring donations?
You don’t need to send out updates, post on social media, or beg people for money because your supporters are already pledging every month! In fact, with recurring donors the more content you produce, the more money you will raise!
An Incentive for Repeat Visitors
Creating a system of recurring donations is an excellent way to encourage your visitors to come back to your site. Plus, it provides them with a way to support you regularly.
For example, setting up monthly donations via credit card ensures that people will be charged the same amount each month without having to go through the donation process every time they visit your site. You can even set up automated emails that remind donors when their next payment is due and keep them updated on how their money has been used.
Long-Term Revenue Potential
Sustainability is critical for any nonprofit organization. And one of the most important factors in achieving sustainability is a reliable and steady stream of revenue.
That’s why recurring donations are so important. In general, people are more likely to commit to an ongoing donation than make a one-time gift. The reason is simple: if you donate $5 every month, that’s $60 per year! If you donate just once, that’s only $5 total.
Get Ahead of the Competition
Another benefit of this option is that the donor does not have to worry about remembering when and how much they donated each time they make a contribution, which increases the likelihood that they will continue donating in the future.
It also eliminates the need for you to contact them again and again. Recurring donations are available on most online giving platforms such as Donorbox and are just one more way you can give your donors an easy way to support your nonprofit without having to spend valuable time on their behalf.
Boost Fundraising at Events by Encouraging Attendees to Make Recurring Gifts Online
As a nonprofit, you know that fundraising is essential to your success. And while special events are a great way to bring in donations, you can actually boost your fundraising efforts by encouraging attendees to make recurring gifts online.
The first advantage of this strategy is that it helps people build up their monthly giving budget: instead of setting aside a huge amount one time and then never donating again, they will have a regular amount set aside every month automatically and you’ll be able to count on more consistent funding.
The second advantage is that it helps you reach more people because instead of reaching out to each attendee once, you’ll be building relationships with a bigger pool of them who will come back month after month.
And if one person is bringing in new donors, then they’ll all be able to bring in new donors, because they will refer each other and tell their friends. This way, you can grow your donor base much faster.
Every business needs to bring in new customers, whether it’s from word of mouth or advertising, but once they’re loyal customers it’s important to keep them coming back with new products and services.
Likewise, nonprofit organizations have the same goals in mind when it comes to donors and supporters. Recurring donors play very crucial roles in any nonprofit organization by offering sustainable revenue resources for them.