How to Name a Monthly Giving Program

Hey , there , you're listening to the Missions to Movements podcast and I'm your host , dana Snyder , digital Strategist for Non-Profits and Founder and CEO of Positive Equations . This show highlights the digital strategies of organizations making a positive impact in the world .

Ready to learn the latest trends , actionable tips and the real stories from behind the feed , let's transform your mission into a movement . Hello there , today we are talking about one of my favorite things , and that is monthly giving . Why ? Why is that one of my favorite things ?

Because I am all about fundraising with ease and we are consumers living in the subscription world . Am I right ? The subscription economy has grown by 435% in nine years , which is wild and is only expected to continue on this upward trend the opposite above what we're hearing a lot about giving in the nonprofit sector .

Now , this is crucial to be looking at because we , as consumers , we're so used to spending monthly . Therefore , why do we not do that with a donation . Most of the time it's because we are called to give one time first , and then there's this retention process of getting us to give again as then monthly donors .

Instead , I want to challenge us to think about a recurring first model as we go into this year equally , hopefully , more time spent on your programs , and this way you are attracting passionate supporters that are in it for the long haul with you .

Now , as popular of a topic as monthly giving can be , there's sometimes this hesitancy to get started , and I think one of the stigmas around monthly giving programs is they're only I'm using my quote hands , they're only for big organizations , and that's not true at all . Honestly , any size organization can have a monthly giving program . Your goals are your own .

You might want $1,000 of recurring revenue to provide X for a program of yours . Or maybe your main goal of your program is to get $5,000 recurring every month to pay the rent of your building and that would be success to you . It doesn't matter what size organization you are . Your goals are your own and the benefits overall are tremendous .

Right One the biggest is regular , reliable donations make it easier for you to budget and plan . Typically , there's less admin work because the donations are coming in automatically . There's no need to send like reminders to these people all the time to give . It's just set it and forget it , like we do with so many of our subscriptions .

A big one retention rates that we struggle with , compared to like a new donor retention , which can be 40% or lower , retention rates for monthly givers are often over 80% after a year and continue on upwards .

I've even seen them higher than that and honestly , one of the biggest perks is donors feel really invested in your organization's work and they stay engaged for longer . So there are a plethora of benefits to having one .

But I think there's another issue that normally comes up around creating a monthly giving program and it's an interesting one , but it pops up on a lot of my webinars is like we just don't know what to name it Like . Where would we even start with that ?

And so I wanted to do kind of this short episode , to do a mini podcast workshop , if we can , around even the question of when it comes to creating a monthly giving program , name or not name a program . Do we make it an official program with a name or do we just ask for monthly gifts with our donation form .

And I lean on the side of where naming your program is really quite important . If you think of so many products that we buy , they have a name right . Why is that ? And the biggest thing is it gives you the ability to build a brand around the program and thus the ability to create engaging marketing materials to talk about said product .

And to me , a monthly giving program is a product of your organization . Giving a name also provides some credibility . It's not just a transactional feeling . You're a part of something bigger than yourself , and leaning into that being not just transactional and adding credibility is it gives community .

If you know that you're a part of something with 25 other 50 other 1,000 other people , that also is lending credibility . When you think about naming something , saying will you join the spring , the roots , the bench , the table , it is much more meaningful than just saying will you give $10 a month , will you join something right ?

And then , lastly , I think something also really positive about naming a program is when you're giving thanks , you can recognize these donors in a really special way . When you're at events , through email , snail mail , you name it and again , it's like bringing together that sense of community and recognition with the name .

So when you're thinking of a name , don't let a whole program get stuck because you don't know where to go to start with a name .

So I figured I would give you some brainstorming tips here if you are in the place of looking to create a program , and during my monthly giving mastermind , one of our first calls that we do is just this it's a monthly giving naming exercise where I open up a page in Canva and it is customized with Post-it notes and on the left hand side there's a series of

questions . That's meant to really get the juices flowing . I set a timer and each organization starts to write down words on their individual Post-it notes based upon looking at and reading the questions on the left hand side to start from .

And then , once the time is called , we all go through each other's words and our program name ideas and we mark stars or hearts next to the ones that we like . And then we move around the Post-it notes and kind of group them together to see what feels good and we have a discussion about it .

We have a discussion about the meeting of the program , what they want the program to attract , and then usually we end up leaving the session with two to three names to marinate on , to take back to the team , to take back to your board of directors , and it's a really powerful session .

If you want a list of the questions that I use during the brainstorm , you can go to positiveequationcom . Backslash name to download that's positiveequationcom backslash name . And then I wanted to list out just a few of them . A few of the questions are , and some of them are not necessarily like thinking about the name , but like the structure , the format of it .

So , really simply , is it easy to read and pronounce ? That is key . Can somebody read it ? Can they pronounce it ? Is it easy to say , if you say the sentence I joined blank or I'm a part of blank or I belong to blank , how does that name sound within those statements ?

And then , lastly , when , to kind of think about , does it relay and speak to who you are ? Oh , and one more and could there be a word , a name , where it lends people to know what their money is going to be used for ? So we list a whole bunch of different these questions just to get like our minds working right .

So when I think back to some of the ones I named earlier the roots , the bench , the table . Another one is the beacon . The roots their monthly donors are devoted to supporting communities in Ethiopia through education and job creation .

The roots when you think about a root , it is the core education , job creation it's the core of what we need to grow and thrive . Organization LEAP , their programs , the bench they are providing underrepresented students the support and mentorship that they need to attend law school and become agents of change .

Are you gonna sit on the bench right Makes sense from a law room perspective . Maloto , the table they are devoted to feeding women and children and giving children the education they deserve and empowering all of them in their own efforts . The table right , devoted to feeding . You're eating around the table . You learn at the table . They're working in education .

Lastly , the gorge their program is called the beacon . They work to protect , preserve and steward . The Columbia Gorge Beacon Rock is an iconic landmark to the Columbia Gorge .

Each of these programs and the names that we chose have a meaning and a purpose behind them and for all of them you can say I'm a part of the roots , the bench , the table , the beacon , et cetera . Right , they all mean something and bring you closer to the mission . So I hope this helps . Just start to get some ideas flowing in your mind .

A to know that it does not matter the size of your organization . I strongly recommend setting up a monthly giving program this year . Don't make fundraising hard , right ? How can you make it easier for yourself ? How can you cultivate a really diverse donor base , whether they're giving $5 or $500 a month ? Inviting them into that ?

If you are interested in creating a monthly giving program this year , I would love to invite you to the next cohort of my monthly giving mastermind . It starts in February , so very soon .

My team will help you create a name , will optimize your online donation process , will design a website landing page , thank you page , write all of the copy and help take it to market . If you are interested , you can go to positiveequationcom backslash mastermind to apply .

And something new with the program this year is I tested with some of my previous groups doing a reunion call and we loved it , which is all . Previous mastermind attendees are invited to come together and we continue brainstorming . This is not just because we launch it and we get out into the world . We're not leaving hanging . We wanna support

you as your program continues to grow and so we are going to have four calls , one a quarter to continue brainstorming , to continue growing , to continue reviewing each other's emails or acquisition plans or thank yous , like we are a community together .

If you have a program that is already created but you're like I think it needs a little refresh , I have a brand new opportunity to work together and that is scheduling a VIP tune up day . I have them throughout the year .

I have a few spots open every month and it's essentially where we will spend roughly a whole day together talking through key priorities that will outline and advance together . So , whether that's like , hey , I really wanna optimize my donation experience , I think my copy needs some updating . I want help building out an acquisition campaign We'll get to work .

So , again , I have a few spots open each month . So if you're interested , you'll be able to book that via the same site positivequationcom , backslash , mastermind and you can just select the VIP day in the application process . So I'm very excited . I would love to hear from you if you have any questions about either program .

And next week we are going to be diving into Canva tips Literally one of my favorite tools that is always releasing incredible features . Bex Toms will be joining us . She is a brilliant graphic designer . Do not miss it and I will see you next week . Can you tell I love talking all things digital To make this show better . I'd be so grateful for your feedback .

Leave a review , take a screenshot of this episode , share it on Instagram stories and tag positive equation with one E so I can reshare and connect with you .