If you’re connected in any way to the charitable sector you need to know Dave Raley.
Dave is, in my opinion, the smartest and most knowledgeable person in our sector when it comes to sustainable giving strategy and execution.
I’m honored to call him a friend, to have the opportunity to collaborate with him on behalf of our shared clients, and from time to time to get to share an Old Fashioned with him while we talk fundraising strategy.
Dave is the Founder of Imago Consulting, Publisher of The Wave Report (a weekly publication on trends impacting the charitable sector) and the author of the very soon-to-be-released book, The Rise of Sustainable Giving.
In preparing for and writing his book, Dave conducted hundreds of hours of research into the impact of the subscription economy, how Americans prefer to be engaged by the brands they favor, what makes a brand go from “one of many” to a brand of preference, and how those insights might be applied to the practice of fundraising. Particularly to the area of monthly giving.
I asked Dave to share his insights and learnings with me and to give us an idea of the most important things he’s learned both in his research and in his nearly 20 years of experience building and running successful sustainer fundraising programs for ministries and other nonprofits.
Key Takeaways from Our Conversation
- Sustainer giving is a crucial model for nonprofits that want to thrive in the future.
- The subscription economy has transformed donor engagement and expectations.
- Recurring giving has historical roots dating back thousands of years, but is experiencing a resurgence in popularity today.
- Nonprofits must prioritize recurring giving as a key strategy for future sustainability and growth.
- Effective communication with donors is essential for retention in any sustainable giving program.
- Benchmarking current donor metrics is the first step to improvement.
- Evaluating existing programs helps identify gaps and opportunities for growth.
- Designing a unique value proposition is critical for success.
- Recurring donors often contribute additional single gifts, if engaged effectively.
- Nonprofits should treat sustainers as loyal partners, not just sources of income.
There is a generosity crisis in North America. The number of individuals giving to charity is on the decline. For nonprofits that rely on the generosity of everyday individuals, this is an alarming statistic. But amidst these challenges, a new opportunity has arisen: the subscription economy has transformed donor behavior and preferences, making recurring giving more accessible than at any other time in history.
Dave Raley, with over twenty years of experience in the nonprofit sector, has studied top-performing nonprofits that are successfully tapping into this new kind of giving. As individuals and organizations have embraced subscriptions, consumer trends have changed, and donors are more likely to give on a recurring basis to nonprofits of all types and sizes. This has paved the way for subscription giving, and ultimately, more reliable revenue that can accelerate generosity.
In The Rise of Sustainable Giving, Raley shares the core elements of building a thriving sustainable giving program, including:
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