Looking for ways to increase gift size and have a predictable source of donor revenue, month after month? CauseVox’s Pledge Now, Pay Later (PNPL) is a state-of-the-art pledge donation option (similar to buy now, pay later for donors!) that’s designed to help you get more online pledges and automatically fulfill them. It’s a great way to expand the scope of your campaigns, from capital campaigns and sponsorships, to peer-to-peer campaigns and galas. PNPL is the future of fundraising; getting started now will put you in a strong position for future campaigns.
PNPL gives the people what they want. In CauseVox’s 2021 PNPL Survey, respondents indicated that not only do they prefer an installment option for donations, but this option would lead them to give larger gifts more frequently. Plus, our survey indicates that installment payments are only increasing in popularity, especially with the 22-44 year old demographic, so now is a great time to be an early adopter and cultivate those millennial donors!
How To Use PNPL In Your Fundraising Campaigns
The best part about PNPL? It’s applicable to just about anything! The flexibility extends to both your team and your donors. You can use PNPL for something as large as a capital campaign or virtual gala, or as simple as making it an additional feature on your website donation form.
Here’s 6 ways to use PNPL to boost your fundraising in 2022 and beyond!
The Phi Epsilon chapter of Chi Omega at Ball State University is offering PNPL as part of their capital campaign to invest in a new community lodge. Similarly, Sigma Chi at the University of Florida incorporated PNPL into their campaign to raise funds for a new chapter house.
PNPL is especially great for this kind of ongoing campaign, which often lasts years. PNPL establishes a steady stream of predictable income from donors, ensuring that you will have regular funds coming in for the duration of the campaign.
The form automatically breaks down the pledge amount monthly from 12-60 months, or annually from 2-5 years.
This lets donors spread their donation out over months, in the way that works best for them, an easy and convenient method works best for everyone.
PNPL can help simplify your sponsorships, as well. Businesses, organizations, or individual sponsors often have budget constraints that might benefit from more flexible payment plans. By incorporating PNPL will help you expand your net of possible sponsors.
Website Donation Forms
Make your website donation form even more flexible by adding a PNPL option. With PNPL, donors can select a preset amount, or choose a custom pledge. They’ll be billed automatically for the first, and then CauseVox will take care of the rest, billing all future installments according to the donor’s schedule, and automatically sending out an installment receipts after each charge.
Replace Monthly Recurring Donations With PNPL
Give your staff a break and simplify their workflow by transferring your monthly recurring donations over to PNPL. Rather than chasing down donors, or sending out renewal forms and applications, streamline the process by using CauseVox’s PNPL feature. Your staff (and your board!) will thank you, especially when they see all the new donations rolling in.
Adding PNPL to your peer-to-peer fundraising campaigns is a great way to amplify your reach and help you source more pledges from a wider audience than ever before, particularly among the younger, 22-44-year-olds who are much more inclined toward installment payments.
Meat Fight’s 2021 peer-to-peer campaign easily incorporated a PNPL form. By simply adding the form to their existing campaign, Meat Fight provided new benefits to potential donors, creating flexible options for donors wanting to support athletes living with multiple sclerosis.
Virtual Gala (UnGalas, Or Other Virtual Events)
The virtual gala is here to stay. Take advantage of the increase in digital events and fundraisers and add a PNPL ask to your event. With donors already online, you’ll have a captive audience to solicit, and can use the opportunity to cultivate them as long-time, recurring donors.
While a virtual gala is a great opportunity to secure donations from your most loyal supporters, consider adding PNPL options to other virtual events, as well. That virtual bike-a-thon or movie night you’ve been planning? Drive participants to a donation form that includes a PNPL option.
Retaining PNPL Donors
While recent surveys indicate that PNPL is preferred by donors, that doesn’t mean we can forget about them! Cultivating long-term PNPL donors also requires communication and investment.
CauseVox’s PNPL feature helps you out with this by sending automated emails after each charge with an update towards the total pledge and a secure link to manage their payments, helping them feel connected throughout their donor journey.
Consider other ways to generate good will with your PNPL donors. You might feature them on social media when they’re close to completing their pledge, or offer yearly, branded retention gifts, like bumper stickers, mugs, or sweatshirts. The sky’s the limit, here! Think about how marketing and social media can overlap with your fundraising strategy.
How It Works
Not only is PNPL an easy, convenient option for donors, it’s easy and convenient for you and your team.
Adding PNPL to your CauseVox campaign couldn’t be simpler. Set up PNPL on any campaign you run on CauseVox, with the option to turn it off and on according to your campaign strategy. Once you’ve turned this feature on, you’re set! Through Pledge Now, Pay Later, pledge installments are automatically charged to the bank card on file based on their payment schedule. That means you can set it and forget it! And donors get the benefit of flexibility as well. They can select predetermined amounts, or choose a custom, recurring donation.
Get Started With Pledge Now, Pay Later On CauseVox
Maximize your time, resources, and energy by adding Pledge Now, Pay Later today!
You’ll increase your donor base and your total donated revenue. It’s easy!
Book a 15-min demo and start the year off ahead of the curve.