George Bernard Shaw Irish playwright, and winner of the Nobel Prize for Literature in 1925 once observed that “the single biggest problem in communication is the allusion that it has taken place.”
Why is communication important?
As humans, we need to transfer ideas from one person to another on a regular basis.
Nonprofit marketing professionals know that meaningful communication and good stewardship are the basic elements that induce prosperous donations.
While revenue from one-time gifts tends to be inconsistent throughout the year, monthly recurring donations provide a stable source of income, making it easier for organizations to plan and invest in their programs.
Depending on which study you believe and what industry you’re in, The Harvard Business Review reports that acquiring a new customer or donor is anywhere from 5 to 25 times more expensive than retaining an existing one.
Think about integrating a recurring giving plan into your fundraising calendar.