Mind Your Mind Speaks Podcast: Episode 50
In this episode, you will hear a conversation between Cobb Collaborative’s Executive Director, Irene Barton, and Ronald Pruitt, Founder and President of 4aGoodCause.
Ronald talked about the value of monthly donors and likened it to building resiliency – when there are tough things that happen like loss of a grant, a stream of cash from monthly donors is incredibly valuable. Ronald shared that there is a 90% retention rate for recurring donors. It also costs less to retain donors v. sourcing new ones.
It is important to communicate with your recurring donors. The recent M+R Benchmark Study showed that monthly giving increased 42% through 2021. Ronald recommends engaging them through impact stories. Take the opportunity to thank them (or have a Board member do that). Additionally, it is important for nonprofits to make sure the mobile experience that their funders have is positive as more donors are engaging on their phones.
Other resources from 4A Good Cause: