A recurring donation is one way for a person to make a lasting contribution to a nonprofit’s mission. For your organization, a recurring donation program offers a steady stream of revenue that your organization can depend on and budget for month after month. Unfortunately, too many nonprofits don’t take advantage of the recurring donation platforms to create a reliable stream of income and miss out on these potential dollars.
If you’re an active ClickBid customer, you can offer the option for donors to submit recurring donations through your silent auction or online donation form. Keep reading to learn more about recurring donations, how they benefit your program, and tips for setting up recurring donations for your donors.
What is a Recurring Donation Program?
A Recurring Donation Program is a regular giving option that allows donors to automatically donate a specified amount to your organization each month. These monthly donations act as a resourceful reliable income for financial support and take little to no work to keep them running.
What are the Benefits of a Recurring Donation Program?
For your Donors:
- With recurring donations, your donors are able to set it and forget it. This means your donors can set the recurring donation amount one time and forget about it. There is no upkeep that your donors will have to keep up with month after month.
- Your donors will avoid the struggle of re-entering their details every time they make a new donation.
- No commitment! The ability of your donors to adjust their monthly donations is easily managed to reflect their current situation.
- They become regular donors to the organization. Their monthly contribution is greatly appreciated and treasured by the organization to maintain its mission month after month.
For your Organization:
- Monthly, reliable donation income makes it easier to budget and plan for the future.
- Less work for your organization to keep engaging your donors and encouraging them to donate.
- No need to follow up with donors — your recurring donors can set their donation and forget it.
- Cut out associated costs for paper donation forms, stamps, and envelopes.
Tips for Your Recurring Donation Program
- Be transparent with your donors. Highlight the specific products or services your donors’ money is going towards.
- Show appreciation to your recurring donors. Thank them personally for their donation and for taking the time to set up their monthly contribution. Offer unique member benefits for donors that pledge a monthly donation. This will show your appreciation and give your monthly supporters something extra.
- Segment your recurring donors from your general donor contact list. Since your recurring donors have an active monthly donation, do not send them information on how to create a recurring donation. Failing to segment your recurring donors from your regular donors shows you are not appreciating their monthly contributions.
- Promote the Recurring Donation campaign. Your donors will not have the opportunity to create a monthly donation if they do not know about it. Make this program visible for all potential donors to learn about your monthly donation program and how they can get involved.
Start Accepting Recurring Donations Today!
Are recurring donations right for your organization? If you are looking to earn more money, focus your efforts on donor retention by encouraging the recurring giving option. Recurring donations allow your organization to build stable revenue streams and makes financial planning less difficult with a steady flow of donations each month.
Click here to get started with recurring donations through ClickBid. Our platform is crazy simple for you to start accepting recurring donations and for your donors to maintain their donations.