Nonprofit Lowdown Episode #314: Monthly Giving with Dana Snyder
Release Date: November 25, 2024
Host: Rhea Wong
Guest: Dana Snyder, Speaker, Author, Host of Missions to Movements Podcast, Founder and CEO of Positive Equation
1. Introduction
In Episode #314 of Nonprofit Lowdown, host Rhea Wong welcomes Dana Snyder, a seasoned expert in nonprofit fundraising and monthly giving programs. Dana introduces herself as the founder and CEO of Positive Equation and the author of Monthly Giving Mastermind. The conversation kicks off with personal updates, including Dana’s new book release and her experience balancing motherhood with entrepreneurship.
Notable Quote:
Dana Snyder [01:18]: “I get this question a lot. And I think being a mom entrepreneur, I know better how to prioritize things.”
2. Building Effective Teams for Nonprofits
Dana emphasizes the importance of assembling a team that complements each member’s strengths. She discusses her approach to hiring, highlighting the significance of finding individuals who operate within their zones of genius. Dana shares insights on delegating tasks and avoiding micromanagement to ensure productivity and team autonomy.
Notable Quote:
Dana Snyder [03:01]: “Find people who are self-sufficient and have that entrepreneurial spirit. It’s about building a mini dream team.”
3. Investing in Coaching and Masterminds
Rhea and Dana delve into the value of investing in business coaching and masterminds. They discuss how these investments, although substantial, provide significant ROI by offering focused guidance and fostering a supportive community. Dana recounts her journey of joining masterminds and how it led her to create her own programs, underscoring the transformative impact of peer support and collective problem-solving.
Notable Quote:
Rhea Wong [05:08]: “When I spend five figures on a coach, I expect ROI. It’s about getting the highest leverage.”
4. The Power of Monthly Giving Programs
Dana shares her passion for monthly giving, tracing her personal journey from being a monthly donor to recognizing its potential for nonprofits. She highlights the advantages of recurring donations, such as sustainable and predictable revenue streams. Dana explains how the subscription economy trends inspired her to advocate for monthly giving programs within the nonprofit sector.
Notable Quote:
Dana Snyder [11:30]: “Why would we not want sustainable recurring revenue for our organizations? It’s a game changer.”
5. Implementing and Sustaining Monthly Giving
The conversation moves to practical strategies for establishing and maintaining monthly giving programs. Dana outlines the essential steps nonprofits should take, including automating communications, personalizing donor interactions, and leveraging technology to streamline processes. She shares a success story of the Tim Tebow Foundation, which expanded their recurring donors from 6,500 to over 20,000 through a comprehensive, automated strategy.
Notable Quote:
Dana Snyder [18:53]: “Using tools like automated personalized emails and handwritten direct mail can scale meaningful engagement even for small teams.”
6. Common Misconceptions and Best Practices
Rhea and Dana address prevalent misconceptions about monthly giving. One major concern is the fear that monthly donors may be less likely to contribute larger, one-time gifts. Dana debunks this myth, asserting that monthly donors often become significant contributors when appropriately engaged. They discuss the importance of viewing monthly giving as a foundational step in donor cultivation.
Notable Quote:
Dana Snyder [22:17]: “Monthly giving should be the lead ask. It doesn’t prevent major gifts; instead, it cultivates deeper relationships.”
7. Maximizing Engagement and Donor Stewardship
The duo explores strategies for enhancing donor retention and engagement. They stress the importance of personalized communication and the utilization of multiple channels—such as SMS, email, and direct mail—to maintain meaningful connections. Dana emphasizes creating value for donors through regular updates and surprise-and-delight moments to reinforce their commitment.
Notable Quote:
Dana Snyder [16:31]: “Sending personalized emails and integrating automated handwritten notes can keep donors engaged without overwhelming your team.”
8. The Significance of Publishing a Book
Dana discusses her experience authoring Monthly Giving Mastermind, highlighting how writing a book serves as a powerful tool for establishing thought leadership and expanding one’s reach. She contrasts hybrid publishing with self-publishing, explaining her choice to maintain control over her intellectual property while leveraging the publisher’s services for efficiency.
Notable Quote:
Dana Snyder [31:26]: “A book is a massive thought leadership utensil. It’s like a business card that opens doors to speaking engagements and new opportunities.”
9. Strategies for Giving Tuesday and Niche Engagement
As Thanksgiving approaches, Rhea and Dana share actionable strategies for optimizing Giving Tuesday campaigns. They advocate for niche marketing—targeting specific donor personas rather than mass emailing. Dana recommends segmenting donor lists and tailoring messages to align with the values and interests of targeted groups, ensuring more effective and meaningful outreach.
Notable Quote:
Dana Snyder [20:14]: “Go super niche. Find people who share your values and beliefs, and engage them where they spend their time.”
10. Conclusion
The episode wraps up with final thoughts on the critical role of monthly giving in nonprofit sustainability. Rhea encourages listeners to explore Dana’s book and mastermind programs for deeper insights into building robust giving programs. The hosts reinforce the message that strategic, recurring donations can significantly impact nonprofit success.
Notable Quote:
Rhea Wong [38:51]: “Monthly giving is an indication of engagement. It opens doors to deeper relationships and larger contributions down the line.”
Additional Resources:
- Dana Snyder’s Book: Monthly Giving Mastermind
- Website: positiveaclusion.com
For more insights and resources on running your nonprofit like a pro, subscribe to Rhea Wong’s weekly newsletter at riawong.com.