Monthly Giving Continues to Be Strong Among Older Donors
As prices go up and inflation is a reality, are you worried about what’s going to happen with monthly donors? I’m right there with you. That’s why I was excited to see Enthuse’s “Donor Pulse Report: Summer 2022,” based on a survey of 2,008 donors in the United Kingdom.
General economic trends are remarkably similar, so it’s a good indicator of what we could see here. I must add that monthly giving in the U.K. has historically been extraordinarily strong and more common than it is in the U.S., so it’s typically an integral part of studies and trends there.
From this report you’ll see that there has been a change in giving, with many donors having stepped up to support humanitarian aid for Ukraine, which has lowered giving to other organizations.
When looking at trends in monthly giving, here’s the bad news: The percentage of donors in the U.K. that made regular monthly gifts dropped from 30% to 27%.
But, wait, there is also some good news: Older donors, ages 65 to 80, have increased their monthly gifts. Suggesting donors to make smaller gifts on a more regular basis is really key here. Older donors’ finances will most likely not have been impacted as much as younger donors.
Online giving in the U.K. overall has grown compared to cash giving, but it’s crucial to drive donors to your website so they’re committed to giving there, and it’s easier to track.
“The public’s intention to donate remains high with 73% stating they will — the difficulty is around lower average donations,” according to the report. “Charities need to be mindful of the financial challenges and present multiple donation options for supporters.”
So here’s my take, along with some recommendations. Now is a terrific time to add some monthly giving efforts. Make it truly clear that your donor can make a difference with a small amount each month. Then:
- Drive them to your website.
- Be sure to mention monthly giving in your emails, e-newsletters. print materials and social media.
- Keep the amount as low as you can get away with on your donation platform.
- Make it easy for the donor to choose the recurring option.
- Confirm that your donor is making a monthly gift every step of the donation process.
- Optimize the monthly giving journey and have your thank yous ready.
- Make the thank yous as personal as possible.
- Step up your stewardship. Add a thank-you call if you can. Show your gratitude!
Erica Waasdorp is one of the leading experts on monthly giving. She is author of the book "Monthly Giving. The Sleeping Giant." She is the president of A Direct Solution, a company serving nonprofit organizations with fundraising and direct marketing needs, with a focus on monthly giving and appeals.
She just co-authored the "Monthly Giving Starter and Marketing Kit" with Donor Perfect, and she’s working on her next book called "Monthly Giving Made Easy." She regularly blogs and presents on fundraising, appeals and monthly giving—in person and through webinars. She is happy to answer any questions you may have about this great way of improving retention rates for your donors.
Erica has over 30 years of experience in nonprofits and direct response. She helped the nonprofits she works with raise millions of dollars through monthly giving programs. She is also very actively supports organizations with annual fund planning and execution, ranging from copywriting, creative, lists, print and mail execution.
When she’s not working or writing, Erica can be found on the golf course (she’s a straight shooter) or quietly reading a book. And if there’s an event with a live band, she and her husband, Patrick, can be found on the dance floor. She also loves watching British drama on PBS. Erica and Patrick have two step sons and cat, Mientje.