Make it a WIG and Use Lead Measures
It's one thing to recognize the transformative promise of monthly giving and make it a strategic fundraising priority. It's entirely another to execute...to deliver on that promise.
What's one proven approach that several of our customers with the fastest growing monthly giving programs employ?
They make monthly giving a WIG (Wildly Important Goal) and they use lead measures.
In their bestselling book, The 4 Disciplines of Execution, the authors (McChesney, Covey, and Huling), present a compelling and now many times proven methodology to help companies and nonprofits achieve their most important goals.
Arguably, the three most important words in the 4DX vernacular are:
Whirlwind - The happenings and demands of one's regular job. These are our often urgent, but rarely vital day-to-day activities. The whirlwind takes time away from achieving WIGs.
WIG - Wildly Important Goal, a goal that will make all the difference for the org or the team...overall or in a strategically important part of your mission.
Lead Measures - The authors write, "Unlike lag measures, which tell you if you have achieved your goal, lead measures tell you if you are likely to achieve your goal." They insightful explain, "Great teams invest their best efforts in those few activities that have the most impact on the WIGs: lead measures."
What's an example of monthly giving program WIG and lead measure set?
WIG = Recruiting 150 new members for our insert monthlygiving program name in the period beginning insert date and ending insert date.
Lead Measure #1 = number of people to whom we make quality, personal monthly giving specific appeals. Our experience has taught us that when we make intentional focused monthly giving asks, either 1:1 or in small-medium size in-person group settings, we have an average sign-up rate of 25%. Our plan calls for engaging 400 people this way with an expected yield of 100 new monthly givers.
Lead Measure #2 = number of live phone-a-thon conversations with Lybunt donors in which we present monthly giving as the first giving option. We have just over 1,000 Lybunts. This segment has a 10% monthly giving adoption rate, the highest of any of our phone segments. We expect to add 100 new monthly givers from this group.
Bumper Sticker Theory
Ever find yourself stopped in traffic behind a car that is plastered with bumper stickers?
You may be like me. If so, you go into a rapid eye movement drill to read as many of them as possible before the light turns green.
Now... even a few minutes later, consider, what you remember.
A bit fuzzy?
You may be drawing a blank...me too.
Now, consider this. The car in front of you has a single sticker centered on the back bumper.
"Nothing Stops a Bullet Like a Job". You remember. And...that's the bumper sticker theory.