Whether it’s you trying to set up a non-profit organization to help out the poor and the ones in need, or you have an idea you want to fundraise donations are the way to go. With the internet being a major thing in the past few decades, there are tons of websites that offer you an option to post your idea or non-profit organization plan (Patreon for example), and slowly gather funds by people donating one at a time.
And while regular donation system can work well, especially if you are lucky enough or have a good presentation strategy, there are times when the donations seem to slow down, and that is not the situation you opt to find yourself in. Luckily, there is a thing called recurring donations. Now, what are recurring donation you might ask? The answer is simple, the recurred donator can opt-in (through software) to donate each month or quarter a certain amount of money. This way, you are sure to receive a stable income and be able to realize the given plans. But, how do recurring donations work, what are the benefits and how can you set one up?
The Benefits Of Recurring Donations
First and foremost, the main benefit is the pure financial one. You are sure to receive more money in the long-term as you get the opportunity to form bonds with the devoted donors. Estimates say that around organizations using the recurring donations get around 50% more money than the ones who don’t. And it really doesn’t cost you anything – you just need to use a good program offered by companies such as donorbox.org and enjoy all the pros of recurring donations. Other than this, there are few more worth mentioning:
- First of all, you are building a secure network of donors that will be coming back. Most of the donors are one-time givers and never come back. By people opting in for monthly donations (directly via credit card), you are sure to stay with a group of people that will be active for years time.
- Along with that, your revenue will be greatly increased. Now, look at it this way – it is much better to get a multiple $15 donations that people are more comfortable with than receiving a one time $100 support. This way in the long term you will be building a 300/400% bigger revenue than if you didn’t go for the recurring donations option.
- You will have decreased costs. As you have a retention group of donors, the investments that you make in marketing, post emails and everything else connected with your program promotion will be significantly lower.
- It is a good way to meet and even form strong bonds with the donors. Who knows what one can bring to another, and the option of recurring donations is a great way to start a friendship.
- In the end, giving away some things as a thank you gift to your donors is a good way to make them feel comfortable and appreciated giving them more motivation to feel with you. And that is what recurring donations program allows you to.
How To Install Recurring Donations System
The answer to this question has never been simpler. You just have to sign up on one of the websites offering this kind of program – in our opinion, www.donorbox.org is the most diverse one, and fill in all the info about your organization. After that, install their pop-up or embed it to your website and connect the payment option. The donor box allows for payments via PayPal, all credit cards, as well as low fee bank transfers. It is easily integrated into your program, and the check-out has never been simpler. You will be sure to enjoy all the great benefits that this program has to offer.
Honestly, there isn’t one good argument why wouldn’t you go for the recurring donations. It is safe, simple, profitable, and can possibly create long-lasting relationships that will breed new ideas!