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Direct Debit - The Golden Egg of Fundraising
- 1. Institute of Fundraising – Strategies for Supporter Retention Direct Debits – The Golden Egg of Fundraising…
- 2. Direct Debits – The Golden Egg of Fundraising… Introduction Scott Gray, Managing Director, Rapidata Services plc sgray@rapidata.co.uk
- 4. Impact of the Recession on DD donations
- 6. 50% of charities globally have reported a decrease in income over the past 12 months (source: The Management Centre)
- 8. Direct Debits – The Golden Egg of Fundraising… Rapidata’s Charity Direct Debit Tracking Report What the Tracking Report shows: Direct Debit Cycle Falling cancellation rates* prior to the onset of the credit crunch Effect of the credit crunch and recession –cancellations rates of direct debits skyrocketed *The cancellation rate is the number of direct debits cancelled in a calendar month as a percentage of total live direct debits.
- 9. Direct Debits – The Golden Egg of Fundraising… Average monthly cancellation rates
- 10. Direct Debits – The Golden Egg of Fundraising… Average monthly cancellation rates
- 11. Direct Debits – The Golden Egg of Fundraising… Direct Debit Annual Cycle
- 13. Cancellations rise in the lead up to the Summer – peaking in August/September
- 14. There is a sharp fall in cancellations for the latter part of the year, dropping to their lowest over Christmas
- 16. Direct Debits – The Golden Egg of Fundraising… Direct Debit Annual Cycle
- 17. Direct Debits – The Golden Egg of Fundraising… The impact of the recession
- 18. Direct Debits – The Golden Egg of Fundraising… The impact of the recession
- 19. Direct Debits – The Golden Egg of Fundraising… The impact of the recession
- 21. Direct Debits – The Golden Egg of Fundraising… What has happened this year?
- 22. Direct Debits – The Golden Egg of Fundraising… A plateau in cancellation rates?
- 23. Direct Debits – The Golden Egg of Fundraising… A plateau in cancellation rates? Not yet! For cancellation rates to return to their pre-recession levels this year, we would need to see a reversal of the Annual Direct Debit Cycle. Cancellations would need to have fallen this summer They have not!
- 24. Direct Debits – The Golden Egg of Fundraising… A plateau in cancellation rates?
- 26. Cancellations are now starting to decrease, which might be the first sign that cancellations might – we stress might – be beginning to plateau
- 30. Before a high cancellation month, contact your donors to reinforce your cause:
- 31. Thank donors & communicate what the charity has been able to achieve
- 35. Payment holiday
- 37. Direct Debits – The Golden Egg of Fundraising… What to do? 4) Online Reactivation
- 38. Direct Debits – The Golden Egg of Fundraising… What to do? 5) Regularly test sample reactivations
- 39. Direct Debits – The Golden Egg of Fundraising… What to do? 6) Attempt to reactivate sooner rather than later
- 40. Direct Debits – The Golden Egg of Fundraising… What to do? 7) Reactivation Budget
- 41. Direct Debits – The Golden Egg of Fundraising… What to do? In summary… Acknowledge Offer Alternatives Ask for feedback Online Reactivation Test reactivations Reactivate sooner Budget
- 42. Direct Debits – The Golden Egg of Fundraising… THANK YOU – Questions? “The most important thing to remember is that the process of reactivating a cancelled donor starts from the very moment they cancel” www.rapidataservices.com
Notas del editor
- Before we get going, I’d like to get a sense of how your organisation has been effected by the recession over the past year and more – can you raise your hands if your organisation has seen donations fall? Now raise your hands if donations have increased?So, what’s happening in the marketplace more generally? [hit the space bar and hopefully the bullet points will all fly in!]
- Communicate your position in the marketplace as the leading BACs affiliate direct debit processor
- Start by looking at cancellation rates and how they have increased over the years
- 2008/09 massive difference compared to the rest of the data set
- 2007/8 do NOT show the same direct debit cycle patterns
- Average annual and average monthly cancellations for Apr 2003 – Jan 2009Average annual and average monthly cancellations for the pre-recession period Apr 2003 – Aug 2007Average annual and average monthly cancellations for the post-recession period Sep 2007 – Jan 20092007/8 do NOT show the same direct debit cycle patterns
- 2007/8 do NOT show the same direct debit cycle patterns
- The recession changed the cycle pattern. Note that in December 08, cancellations were falling to a point that is higher than where cancellation rates peaked in pre-credit crunch years of 03-072007/8 do NOT show the same direct debit cycle patterns
- The average cancellation rate is still higher than that seen in pre-recession years, but the differential is now much less than its height of 67% in December last year.
- Before I ask you if you have any questions, I’d like to ask one of my one. Can any of you tell me when you currently contact your regular supporters? How does this fit in with the direct debit cycle we showed you today