Studies confirm that when people give regularly they contribute more per year than those who give once a year. Donors who give regularly also have a higher retention rate, and higher donor retention rates lead to higher lifetime donor values.
When a donor turns on a new recurring contribution, it’s important to eliminate the factors that lead to donors turning off recurring contributions. For example when personal financial reasons are a factor, do you allow them to pause or modify their contribution? Are you proactively reaching out to let them know their credit card will be expiring next month? Are you making your donors feel appreciated and acknowledging their contributions in real-time?
All these experiences have a positive impact on donor retention, and every 1% improvement in your donor retention rate will result in a significant increase in donor lifetime value.
Olive provides a platform for donors to regularly contribute to your cause. Olive Donation Builder™ gives your organization the tools for donors to manage their regular giving, and to engage influencers, corporate sponsors and merchants in matching and cashback programs that accelerate the impact of each individual contributor.
SituationThis customer, a large North American charity, works with over 20 corporate partners to raise funds for their cause. Over 50% of this revenue collected is captured on a one-time non-recurring basis via partner point-of-sale (“POS”) devices, while the remaining is through traditional fundraising channels.
ChallengeMore than half of the customer’s revenue was reliant on POS donation programs, an approach that is in decline. POS-based donations introduce friction for donors, deliver limited ROI for corporate partners, and were leaving our customer with a limited donor list for future engagement opportunities. The customer needed a way to increase the ROI for their corporate partners while generating recurring revenues for themselves.
Olive Donation Builder™ integrates into the customer’s marketing systems. Providing a way to capture recurring contributions from the community. The customer’s merchant partners required no hardware or software integration, and other corporate partners were provided with an opportunity to engage the community through real-time donation matching.
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