Top 5 Reasons to Invest in Recurring Donations

Staying connected with your donors is a big challenge for every non-profit. You can beat the challenge by collecting recurring donations from your supporters.

The days of disturbing phone calls and direct mail have gone. Now, online donations have become the new trend for receiving donations. 

In this blog, we will explain the top 5 reasons why you should invest in recurring donations.

What is recurring donation?

In simple words, recurring donation is a type of regular financial contribution made by the donor or supporter of a charity or non-profit. Instead of making a one-time donation, recurring donations accept donations on a fixed amount of money at scheduled intervals, typically monthly, quarterly, or annually.

The popular recurring donation channels are online fundraising, direct bank debit, credit card subscriptions and other automated systems. This approach has become so common with the rise of online fundraising and payment processing systems. Now, it’s more convenient for donors to set up automatic, regular contributions. When a donor opts for recurring donations, a pre-set amount will be automatically transferred to your charity account at regular intervals.

The easiest way to receive recurring donations is to build your own non-profit website and let your donor subscribe there. If you build the site in WordPress and install the Paymattic plugin, you can easily convert your site into a full-fledged donation website.

5 Reasons to invest in recurring donations

Whether it’s a non-profit or a charitable organization, recurring donations give you tonnes of benefits. Let’s see some top reasons to invest in recurring donations – 

Improved donor relationship

If you want to build a successful non-profit, a long-lasting relationship with the donors is a must. You can’t imagine how big the impact of recurring donations is in such a case. When your supporters commit to making donations regularly, they are more deeply engaged with your great cause. Moreover, it helps them grow a sense of belonging and loyalty among the members of your non-profit, which in return improves donor retention.

A steady flow of revenue

If you are concerned about a reliable income stream then you should invest in recurring donations. That results in better planning and budgeting decisions. In some cases, a little recurring donation is better than a big one-time donation. Because recurring donations give you certainty in the revenue flow. Besides, It helps you to plan more efficiently, allocate assets wisely, and focus on long-term strategic goals. Thus, you can beat the obstacle regarding financial instability. 

Reduce management hassle

Managing one-time donations without using any tool has so many burdens. It involves manual processes, payment-related issues, and paperwork. A systematic collection of recurring donations with the Paymattic plugin will reduce the hassle of managing fundraising. You don’t need to worry about the fund collection report or manual calculations. You can get the real-time donation report and subscription status of your donor, right from your website dashboard. Besides, recurring donations streamline the process of collecting funds without any manual intervention, reminders, or follow-ups.  

Adaptation to new giving habits

Tech around us continues to change, and so as the donor’s giving habit. It is reshaping the way people engage with causes they care about. Your charity should adapt to the new donor habit. Modern donors prefer online transactions and digital experiences, they find recurring donations more appealing than the traditional one-time donation.

According to The State of Modern Philanthropy 2020, non-profits who raised over $50 million in total revenue, 26% of their online revenue came from recurring gifts.

The ease of setting up automatic payments perfectly aligns with the giving habit of today’s donors, making it more likely that they will choose to contribute regularly.

Increase efficiency and scaling capacity

Recurring donations increase operational efficiency and provide your nonprofit with the ability to scale up its activities. By securing a reliable revenue stream, you can plan for ambitious projects in the long run. However, such a regular flow of income helps you expand your reach and take your charity to another level

Accept flawless recurring donations with Paymattic WordPress plugin

Maybe you are wondering how you can collect recurring donations for your non-profit. It’s so easy and simpler than all conventional processes of collecting donations.

You only need to install the Paymattic WordPress plugin in your website. That’s all, you will get all the donation features, 13 payment gateways, 14 integrations, donation templates and more. 

Below are some of the top-notch donation features of Paymattic – 

• Donation progress bar
• Donation goal
• Currency switcher
• Recurring donations (Stripe, Square)
• Email notification
• Donor profile
• Advanced reporting

There’s more! You can integrate it with FluentCRM and build a long term-relationship with donors through email marketing. On top of that, it makes your donation website more powerful with Telegram, Slack, Zapier, ActiveCampaign, Mailchimp, Webhooks, Google Sheets and Fluent Support integrations.  

Paymattic supports WP User Registration so that any donor making a donation for the first time can automatically be registered on your site.

Final Words

Accepting recurring donations extends the benefits for your charity beyond the financial realm, having a big impact on the overall efficiency of your organization. As nonprofits strive to make a lasting difference in the field of donation, investing in recurring donations is not just a choice – it’s something you shouldn’t miss at all. 

So, try the Paymattic plugin and step into the new age of giving and loving with this game-changer tool. If you already loved Paymattic, share with us how it helped your non-profit manage recurring donations.