EFT Makes Recurring Gifts A Reality
He recommends that an organization take these four key steps necessary to establish a recurring-donation program:
1. Educate staff and donors about recurring donations via EFT;
2. Develop ways to recruit recurring donors;
3. Implement the technology necessary to manage and process recurring gifts; and
Biedermann notes that communication with recurring givers should be different from those with donors who haven’t made an ongoing commitment. Rather than including them in its regular direct-mail or telephone solicitations, an organization should update recurring donors regularly on how their gifts are being used to achieve its mission. But it also must be sure to send them an annual upgrade appeal, thanking them for their past support and asking that they increase their monthly commitment.
Offering EFT needs to be part of an entire marketing push, complete with a centrally devised message that is included online, in newsletters and in direct-mail letters announcing that donations can be given through this method.
From the donor’s perspective, EFT enhances the convenience of giving. From the organization’s perspective, it is a reliable, recurring donation stream that cuts retention costs considerably.
Jon Biedermann can be reached via www.donorperfect.com. To download the white paper “Creating a Successful Pre-authorized Gift Program,” visit http://www.softerware.com/doclib/DP/Sales/DP_SAL_WhitePaper_CreatingAGiftProgram.pdf