For most nonprofits, donations are an essential revenue stream. By collecting donations online, you are simplifying your fundraising efforts attracting new donors and retaining your existing donors. However, you first need to find the best ways to collect donations online.
These “ways” are divided into two parts: the tools and the marketing. If you want to find the most effective solution, you need to pay close attention to the features and options provided by an online donation platform.
Marketing to reach new donors
You obviously also need to actively market your nonprofit to attract new donors. Don’t expect donations to flow to your account by only posting your information on the internet. This doesn’t happen.
Email marketing is one way to start marketing your organization. It provides the most cost-effective solution for converting interested people into contributing donors.
Additional ways to market your nonprofit to reach new donors include peer-to-peer fundraising and donor circles. With peer-to-peer fundraising, you can allow donors to create donation pages on behalf of your cause, helping to increase awareness with little effort.
Donor circles are also beneficial, allowing a group of people to contribute to your cause. These giving circles are known to help increase engagement and the average amount of the donations.
These marketing efforts may not be effective without a simple way to accept donations online, such as the use of a widget or form that you can embed on your website. You may also need an entirely new donation page to appeal to your donors.
The web page that you present to donors needs to reflect the professionalism of your nonprofit. A quality web page should be designed to show up properly on smartphones and tablets, which are the devices of the majority of your donors — this requires a responsive web design. If the page is difficult to read, visitors are likely to leave without completing any action.
Retaining your existing donors
Maintaining high donor retention rates is essential for sustainability, which requires you to keep your donors engaged. The donation platform that you choose should offer the tools needed for this engagement.
You may boost donor retention with the right marketing tools, such as email outreach. Continuing to update your existing donors about your nonprofit’s latest activities keeps them involved and engaged.
Some platforms like us decide to focus on recurring donations to sustain your revenue instead of waste resources on retaining your existing donors — keep reading for more details.
Recurring monthly donations
The tools that you use to collect online donations should help you achieve greater sustainability. This requires consistent revenue from new and existing donors.
To continue receiving a steady revenue stream from donations, nonprofits often focus several factors – donor retention, donor acquisition, and the average donation amount. By implementing a tool that is designed to accept recurring donations online, you can improve all three of these metrics.
With recurring monthly donations, donors can set up automatic payments. Once the donation is scheduled, no further action is needed by the donor. You continue to receive the same payout each month, resulting in a sustainable, predictable income 😍.
The platform that you choose should make it easy to set up these recurring payments. Instead of dealing with an expensive payment gateway and third-party tools, everything that you need should be included.
Selecting the best donation platform for your nonprofit
All in all, the platform that you choose should provide sustainability, donor retention, and marketing solutions for attracting new donors. With the right tools and marketing, you can transform the way that your nonprofit operates.
Before you make your mind up, take your time evaluate and try out the software and the support responsiveness.