How nonprofits can leverage behavioral economics to move people toward monthly recurring giving
Did you know that recurring donors can be up to 4x more valuable than one-time donors? Online retention rates for recurring donors are north of 85% with the average recurring donor giving 42% more over the course of a year than a one-time donors.
The evidence is clear – a successful monthly giving program can create a sustainable and scalable funding stream for your nonprofit. But the strategy on how to implement a successful monthly giving program is still unclear.
Our understanding of the engagement, conversion and retention funnels as it relates to monthly giving is based primarily upon the intuitions of fundraisers and leaders in the space guided by what we think works well, rather than what we know works well.
What if we had a better understanding of the psychological factors that govern whether a prospect will become a monthly donor?
This online course was designed to lead nonprofit professionals through the science behind what really triggers humans to take action. Through the lens of behavioral economics we’ll address how to make a monthly recurring giving program a powerful tool for your nonprofit by examining the psychological factors that govern whether or not one should take action. Furthermore, we’ll show you how to apply these tools and theories at your nonprofit right away!
Nate Andorsky is an entrepreneur who blends Behavioral Economics and technology to help nonprofits, foundations, and mission driven companies move people to action.
As CEO of Creative Science, his team empowers social innovators to dream bigger by creating digital experiences which at their core are human experiences.
Prior to Creative Science he was a team member at the Startup America Partnership, a nonprofit led by Steve Case, to help build entrepreneurial communities.
He geeks out about technology and the ways in which it can motivate people to do good. Nate has been featured in Forbes, INC Magazine and Huffington Post.