Second Chance to Tap Hidden Gold Mine
When the pandemic struck I’m sure lots of folks wished like hell they had a monthly giving program in place. Sure would be nice to have a regular, predictable source of revenue in these trying times.
The Agitator is a big believer in second chances. (Actually, given the quantity of posts we’ve done on monthly giving it appears we’re really believers in the 10th or 30th chance.)
Whether you’re thinking about starting a new monthly giving program… have finally decided to launch one… or if you want to make sure your current sustainer program holds on to those current givers during this crisis here’s notice of a timely new gift of knowledge and experience for you:
How to Create Lifelong Donors Through Monthly Giving
By
Harvey McKinnon
You’ll want to order this brand-new masterpiece today.
Seriously, do it right now –before your next Zoom meeting. You can get the print edition from the publisher Emerson & Church or on Amazon. The eBook edition is available only from the publisher
Harvey McKinnon, is one of my all time favorite fundraisers. Not because he’s whip smart, decent, and reads good literature not related to fundraising, but because he’s practiced and perfected what he preaches. He’s raised hundreds of millions for great causes like Oxfam and Amnesty with a host of environmental, children’s, animal, medical and progressive political movements adding to his success and experience.
On top of his fundraising accomplishments Harvey’s already written a raft of other great fundraising books. (All of these should adorn your bookshelves and be facing front cover out for those Zoom calls.)
There’s a lot special about How to Create Lifelong Donors Through Monthly Giving. Not only is it beautifully and clearly written, Harvey has drawn on his 30 years’ experience to lavishly illustrate the book with case examples.
If you already have a monthly giving program you’ll discover creative ways to tweak and enhance what you’re already doing. In this pandemic you’re likely to find the chapters on collections and retention particularly helpful.
If you don’t yet have a monthly giving program you may kick yourself in the head when you realize the opportunity you’ve been squandering by overlooking this proven and sustainable fundraising technique.
Fellow author Tom Ahern (If Only You’d Known, You Would Have Raised So Much More) has penned this perceptive note on the cover of Harvey’s new book. “Start by reading chapter 3: ‘Always answer the phone by 8:37 p.m. ‘ It tells you everything you need to know about why monthly giving is crucial to your fundraising mix.”
Chapter 3 tells the story how Harvey interrupted a late night work session to answer a plea from friends to join him for at a café and how he turned three cups of coffee into $18,000 in monthly donations.
- Practically ANY organization can attract monthly donors.
- Even if your organization is starting from scratch, you can depend on 10 percent or more of your current donors immediately converting to monthly donors.
- Your file of monthly donors can mushroom to 40 or 50 percent or more wit targeted effort.
- A majority of those donors will regularly upgrade their gifts and continue to give for 10, 15 or even 20 years.
- And most importantly, with a robust monthly giving program in place, you’ll have a guaranteed, LOW COST revenue stream you can count on year in and year out. With or without Covid-19.
So…while your on your computer or phone waiting for that next Zoom meeting, take a moment to order Harvey’s new book.
Roger
P.S. For those readers worried about pandemic-induced cancellations I think you’ll find Chapter 36 of great interest: “The hidden goldmine in your cancellations.”
P.P. S. You can get the print edition from the publisher Emerson & Church or on Amazon. The eBook edition is available only from the publisher
3 responses to “Second Chance to Tap Hidden Gold Mine”
Behavioral Science Q & A
Integrating an individual giving appeal with other communications from a charity can have both positive and negative effects, and the outcome largely depends on how it’s executed. Advantages of Integration Brand Consistency: Maintaining a consistent appearance and messaging across all communications can reinforce the org’s brand identity and strengthen brand recognition and trust among your […]
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I’m not aware of any in-market tests specifically comparing recurring vs. gift frequency language. I suspect the answer might not be the same with all gift frequencies, nor with all people. It sounds like a great opportunity for you to test and find out what works for your audience. Based on the literature, here’s a couple […]
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Based on what we know from existing data, those renewal notices can actually be pretty effective in getting people to donate. They tap into our psychology – creating a sense of urgency, reminding us of past support, and using personalization to make the message hit home. They’re playing on our natural tendencies to feel obligated […]
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Interesting question. I had a quick look at the testing done on this topic. On the positive side, in all cases, over half of donors decide to cover the fee. In some cases, it goes as high as 65%. Not a negligible percentage at all. Here’s another test from iRaiser showing consistent results (see point […]
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There’s just one thing to consider when designing a supporter journey: the supporter. More specifically, you need to take into account: Who the supporter is i.e. their identity, which is the reason they support this cause, and their personality, which describes the way they “see” and process the world. These will determine the kind of […]
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I’m not an expert in this but a quick search surfaced this article on the effect of tax reforms on 2019’s charitable giving. The researchers didn’t find a reduction. Actually, they observed an “increase in charitable contributions in 2019, even with the lower tax rates and the dramatically smaller number of taxpayers who itemize their […]
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Thanks Roger. Yes, I was one of the first buyers of Harvey’s book. Loved it, it’s a very easy read too! I read it in about an hour!
And thanks for the 2nd or 10th or 20th chance, nonprofits need to hear it over and over again! The more we can do to promote monthly giving together, the better off organizations are in the long run!
Also, I did some analysis of legacy gifts for a few of my clients recently, the bulk of those came from their monthly donors, so what are you waiting for? NOW is a really good time to ask for monthly gifts. Donors want to help!
The tools, the resources, the books, the blogs, the presentations, they’re there for the taking. It’s easier now than ever before to generate monthly gifts, certainly easier than when Harvey and I first started working with those programs.
Take the first hour to read Harvey’s book, then spend the next hour tweaking your tools and then start asking!
Thanks for your always-on-point insights Erica. I should also thank you for the steady stream of advice you provide Agitator readers and also recommend that folks add your book, “Monthly Giving: The Sleeping Giant [ https://www.amazon.com/Erica-Waasdorp/e/B00DKAV47A/%5D to their fundraising ‘must read’ library.
Roger
here’s a link to the review of Harvey’s book. https://adirectsolution.com/creating-lifelong-donors-through-monthly-giving/
(and I’m working feverishly on my next book too!)