A recurring donation is worth a lot more than a one-time donation - 42% more in fact. But in reality, a recurring donation could be worth much, much more.
In the (US/UK/Israel - Merge in country name) the average recurring donation lasts for 13 months. Sometimes, donations stop because that's what the donor wanted. But more often, recurring donations stop because a donor's credit card expires, or has the number replaced.
Yes, you can have your finger on the pulse of every failed recurring donation and call up the donor for the replacement card. But this requires tremendous organization, staff time, and receptive donors (some of whom may have forgotten about their recurring donation).
Today, platforms like GivingTech use AI to completely change how non-profits manage their recurring churn. At GivingTech, the moment that a card expires or is replaced, we digitally reach out to the credit card company (and even Paypal) to obtain the donor's replacement card details. We then add the new credit card to the donor's payments, and the recurring donation continues as before, often without you or the donor even knowing that something magical has happened.
And if for some reason we can’t replace the card, our robots will automatically send the donor a link where they can enter their new credit card, and then instantly re-start the recurring donation.
I’m proud that the average recurring donation on GivingTech now lasts 34 months - and rising - more than 2.5 times the national average.
All the best,
CEO, Giving Technologies