Automation: The Key to Boosting Matching Gift Revenue
In the nonprofit world, every dollar counts. What if you could turn every dollar into two? With matching gifts, you can.
Matching gifts are donations given by a company to the same nonprofit their employee donated to. Thousands of companies around the world happily match their employee’s donations. It shows support and helps make the world a better place. All company needs is a request from their employee. It’s simple.
How do you get your donors to ask for a matching gift form their company? Automation. Without lifting a finger, your nonprofit can increase revenue and double the value of each gift.
Send Automated Emails to Encourage Matching Gifts
Picture this: one of your team members dedicates their morning to sifting through donations. They organize every gift, note the details of the donation in a spreadsheet and craft a personal email thanking every single one. Just before lunch, as they near the end of the pile, a brand new box of gifts drops on their desk. All that progress ruined.
You’re probably very familiar with this scene. Most nonprofits understand the importance of fast, personalized outreach, but remain tied to an inefficient and frustrating manual process. A simple thank you takes all the resources you have. Walking donors through the process of matching gifts is out of the question.
The support you need is, of course, automation. Instead of stretching your team to their breaking point, use automation tools to do these tasks for them. You can set up every donation to automatically trigger an email that explains what matching gifts are and how easy they are to request. With the right messaging, you can double your revenue without any extra effort.
Most importantly, automation eliminates human error. Mistakes happen to all of us, especially if you’re overworked and stressed. Remembering every tiny detail required to manage the matching gift process is almost impossible. One person can’t do it all by themselves. More importantly, they shouldn’t have to. With automated email outreach, you reduce the daily stress your team feels and allow them to focus on your bigger mission.
Sending the Right Message
Did you know that sending matching gift reminder emails within 24 hours of a donation results in a 53% open rate? That’s 2-3 times higher than the average nonprofit email open rate. To make the most of your automated matching gift strategies, you must get the messaging and the timing right.
Best practices suggest donors get an email immediately after they donate. You want to catch them when they’re highly motivated and invested in making an impact. Make sure your emails explain how easy it is to double their donation. Connect their extra effort to a direct action the extra gifts allows your nonprofit to take. Build that connection as soon as possible.
Make Smart Decisions Using Your Data And Automation
As you collect donations, you are also collecting valuable data. You record the number of donations made and the dollar amount. You also know the number of match-eligible donors, and how much more revenue is possible. The problem is, how do you keep this data organized? Do you have an easy way to leverage this data to drive donations?
If you’re still relying on manual processes, the answer is probably no.
Picture this: that same stressed employee who emails every donor also records the data as it rolls in. The spreadsheet they use is extensive and unruly. Maybe they add new donation data every day or every few days. Without consistency, how does that person know when to take a look at valuable insights the data shows? That day might never come.
Automation allows you to manage your data in real time. It also provides your organization with actionable insights on an ongoing basis. You can quickly adjust your matching gift strategies to increase your revenue.
The Solution is 360MatchPro
Virtuous Giving partnered with Double the Donation’s 360MatchPro to help our customers make the most of matching gifts.
360MatchPro automatically organizes and sorts all of your nonprofit’s matching gift data into a quick visual and numerical presentation. You can use this information to optimize your matching gift program and ensure that you are truly making the most of matching gifts.
With automated matching gift data, your organization saves resources, which can both be redirected toward other areas of the organization. But most importantly, you give your employees the support they need.
How Does 360MatchPro’s Automation Work?
Good question! With Virtuous Giving online donation pages, your organization collects all the information you need to provide personalized follow-up to your donors about matching gifts. Then, 360MatchPro tracks all the data in your portal for easy access.
Using the Virtuous integration with Double the Donation’s 360MatchPro, you can include a field on your donation forms where donors can identify their employers. In addition to this self-identification, 360MatchPro also recognizes corporate email addresses. Take a peek at how this looks on a Virtuous Giving donation page below.
When a donor’s employer has been identified, 360MatchPro automatically sorts through Double the Donation’s extensive matching gift database and attaches the relevant company match information to the donor’s transaction record.
Donors are then segmented into one of three automated email streams: match-eligible, unknown eligibility, and likely ineligible.
Match-eligible donors are automatically sent an email encouraging them to submit a matching gift request to their employer. These emails include a breakdown of their company-specific matching gift guidelines, plus information about the impact this extra step from them can have on your nonprofit. Lastly, the donors will see a link to their company’s matching gift request forms.
What if Donors Aren’t Eligible for Matching Gifts?
Donors with unknown eligibility are sent an email that briefly explains matching gifts and encourages them to check if their employer offers a matching gift program.
Ineligible donors are sorted into a third stream that prompts the donor to check and see if their employer (or their spouse’s employer) offers matching gifts.
Make Sure to Educate Your Donors Whenever You Can
The biggest hurdle to collecting matching gifts is lack of donor awareness. To address this gap in gifts, you have to address the gap in knowledge. Emailing each and every donor with information specific to matching gifts is the best way to increase matching gift revenue.
Once those automated emails have gone out, 360MatchPro gives you real-time tracking of matched gifts. As donors open and engage with your emails, their transaction records in 360MatchPro update automatically. Every step of the matching donation process will be logged and your team can see the status of each gift whenever they want. Watch your revenue spike as donors move from “match-eligible” to “match submitted.”
Just like that, collecting matching gifts becomes fully automated.
Try It At Your Nonprofit
Virtuous Giving partnered with Double the Donation for one reason: to help nonprofit organizations increase their revenue. With 360MatchPro, your organization can use automated email outreach, matching gift tracking, and smart data to boost your overall revenue. All that’s left for you to do is sit back and watch the revenue roll in!
Adam Weinger is the President of Double the Donation, the leading provider of matching gift tools to nonprofit organizations and educational institutions. Adam created Double the Donation in order to help nonprofits increase their annual revenue through corporate matching gift and volunteer grant programs. Virtuous would like to thank Adam for contributing this post.