P2P Predictions: Subscription Models
Possibly prompted by the pandemic, the world has seen a huge spike in the availability of, and reliance on, subscription services. From home delivery services, streaming sites, socks, razors, and even premium features for automobiles including Mercedes, businesses know that a person’s lifetime value to the company increases when they can get someone into a subscription service with them.
- Classy reported a 37% increase in new recurring donations on Giving Tuesday for 2022 compared to 2021.
- M+R’s 2022 Benchmark reported that monthly giving increased by 24% & accounted for 22% of all online revenue for nonprofits in 2021.
- Prior to GivingTuesday this year, Meta announced that Facebook would match any recurring donations made to nonprofits on their platform for GivingTuesday.
If your nonprofit would like to ride the wave & grow this revenue stream, the key is to make sustained giving easy and rewarding for donors to support your organization on an ongoing basis. By doing so, you can build a stable source of funding that can help your organization achieve its goals and make a lasting impact.
Learn more about how Charity Dynamics can help bring your organization into the future.