Revising Your Fundraising Results

Planning is an integral part of successful fundraising, and you can never get an early enough start! As the end of the year fast approaches, many nonprofits are busy hosting holiday galas and other end of year events. Most members of the staff are likely occupied with their own personal holiday celebrations as well. Just because the season is coming to an end, however, isn't an excuse to avoid planning your nonprofit's fundraising efforts for the next year.

Now is the time to reflect on your nonprofit's results for the year, and learn from any mistakes that were made during your fundraising campaigns. The following steps can help you to gain insight into what does and does not work for your nonprofit so that you can revise and refine your strategies and be set to start the New Year off right!

Review Results of 2016 Fundraising Campaigns - What Did and Did Not Work?

Before you start making plans for your 2017 fundraising campaigns, take time to reflect on what did and did not work well this year. Go back and look at the metrics for the messages that you sent out during your various fundraising campaigns; did you effectively target your audience and reach your fundraising goals? Were there steps that you could have taken, such as using additional measures to segment your donors list to further tailor your messaging to specific target audiences, which would have improved your results? What specific additional resources do you need to increase your fundraising results in 2017?

Refine Messages and Targeting to Build and Increase Donor Base

Ideally, you should segment your donor lists so that you can ensure that you can tailor your fundraising efforts to match the demographics of your target audience. You should begin by segmenting your list into current and repeat donors and prospective donors, as your approach to reach each of these audiences should be different.

There are other ways to segment your donor list to improve your results and grow your donor base. For example, we know that certain audiences respond well to certain types of messaging and fundraising campaigns, so you should segment your donor list and group them into target audiences to ensure that you are reaching out to donors via their preferred method of interaction, such as email, social media posts, telephone calls and face to face contact.

Once you have segmented your donor lists, and identified their preferred means of contact and interaction with your nonprofit, you can then tailor your message to match preferences that are determined by such demographics as gender, age, location, shared interests and so forth.

Improve Communication and Storytelling to Increase Results

Improving your nonprofit's communication is really a continuation of refining your messaging and targeting. Review the ways that you communicated with your donors and other supporters throughout the year. What sorts of stories did you tell about your nonprofit and the good work that it does in your community? What methods did you use to communicate your nonprofit's stories?

Look for ways to keep your nonprofit's messaging in line with your nonprofit's mission and goals. Make it easier to build connections and increase support for your cause by expanding the ways that you communicate with supporters. In addition to using visual images that carry human interest and convey emotion, consider adding short "micro-videos," that can help demonstrate just what it is that your nonprofit does and how it makes a difference and helps others in your community.

Don't forget to test the messages that you send through 2017, and adjust them to improve your results. This includes the emails that you send about fundraising events and donation requests as well as the other messages and updates that you send to supporters throughout the year.

Use Creative Twists to Update and Market Popular Fundraising Events

Annual events are a great way to encourage repeat donations, but you must be careful to not allow fundraisers such as galas, awards ceremonies, auctions, raffles and other events to become stale and boring. Don't be afraid to use creative twists to keep things fresh, and interesting, at your nonprofit's fundraising events.  

Consider hosting events in a new locations, shake up routines by varying the presenters and line-up and look for ways to inject fun and excitement into your nonprofit's events to encourage donors to want to come to your nonprofit's next event.

Test and Overhaul Your Website and Revamp Social Media Efforts

Just as you want your nonprofit's fundraisers to be exciting so that they continue to draw repeat donors and encourage new supporters to attend, you also need to take the time to update your nonprofit's website on a regular basis. Make certain that your posts are fresh, interesting and helpful, both on your nonprofit's main website, as well as on social media posts.

Take time to make certain that all of your site's pages load quickly, and can be viewed on both mobile and stationary platforms. Make certain that posts are easy to share across all of your nonprofit's social media profiles, and make it easy for others to like and share your content as well.

Continue to test messaging, and make certain that all of your posts are in keeping with your nonprofit's mission and goals and will make the impression that you want while also getting your message across.

Above all, make certain that your site's main donation page and donation buttons work well so that it's easy for supporters to donate as well as be able to learn more about your cause.  

Are Cheques Still Relevant?

After peaking in the mid-80s, cheque use has been steadily declining. According to a report by the Australian Payments Clearing Association (APCA), the use of cheques has declined over 70% in the last decade.

With so many voluntarily adopting the use of debit and credit cards, as well as other means of electronic transfer for payment, some have begun to wonder if cheques are destined to share the same fate as Australia's Holey Dollars and one and two cent coins.

Disadvantages of Cheque Payments

Opponents of cheques cite the relative security of electronic transfers, and their speed and ease of use as reasons to stop accepting cheques as a form of payment. Most electronic debits and credits happen instantly, whereas it can take 3 or more days for a physical cheque to clear one's bank. It also costs banks about three and a half times more to process a physical cheque than an electronic transfer. The recipient also often has to go to the time and trouble of physically visiting their bank to deposit the cheque.

Even though less than 5% of all the payments made by individuals and businesses each day are made by cheque, this percentage still amounts to a large number of transactions. Almost one million of the payments that are made each day in Australia are made by cheque. As long as there is a need for cheques, it is unlikely that governing bodies will take legal action that would officially end their use.

Groups Still Clinging to Their Cheques

Even though it's unlikely that there will be an official "hard stop" for accepting cheques as a payment method, time itself may make the question a moot point. Most cheque users tend to be older in age, with less than 7% of those under the age of 30 using them.  As the population naturally ages, cheque use will continue to decline.

While older folks prefer to continue using cheques for nostalgia's sake, insurance proceeds, real estate sales, superannuation payments, and even property settlements are often paid by cheque for legal reasons.  Charities, sporting clubs and other non-profits also often prefer to use cheques since they believe it allows the group's treasurer greater control over the organisation's funds.

Why it's a Good Idea to Expand Payment Methods

While it's unlikely that cheques will be outlawed in the near future, many vendors, suppliers and customers may stop accepting them on their own. This fact alone makes it a good idea for the treasurer and other board members to investigate what steps are needed to start making and accepting electronic payments.

While it's likely that cheque use will still exist for some time to come, expanding the types of payment methods that your non-profit makes and accepts  will give your group greater flexibility with vendors and suppliers as well as decrease the time that it takes for funds to be processed and available for use.  

Fundraising and Sponsorship More Similar Than You Might Think

When it comes to growing your non-profit, sponsorship just may be the answer. Of course, sponsorship is not to be confused with fundraising which is a way of raising cash for your non-profit’s needs. Sponsorship may well be about the cash in the long term but like fundraising, marketing and relationships still play a major part.

At the outset they seem very different – fundraising is about cash – a transaction, whereas a sponsorship is a development of a long term relationship. However from the non-profit’s perspective seeking either, the approach needs to remain the same.

When it comes to finding sponsors or those willing to hand over their hard earned funds to support your organisation, a quality partnership must be established; one built on trust and understanding. What is it they want from you and you from them? Think about why someone would want to sponsor you or why they would give you cash in the first place.

But it goes further than that. You need to look after and respect your partners and funders, thanking them at each opportunity. From your perspective, regardless of how much you need the cash financing or support, it is all about them. And of course, both transactions whether fundraising or sponsorship based will need to be accountable at some point.

Unlike a donation which is money given non-specifically, fundraising or sponsorship offers you the opportunity to tell your side of things, to present yourself and your cause in a good light. This is your story and your opportunity to spread it as wide and as loudly as possibly. Attracting those who listen is important particularly those who respond positively to what you have to say. They are the ones who will speak the loudest about your organisation telling others of a great opportunity should they be interested.

More similar than you might think initially, right? Do you have a preference for your non-profit when it comes to fundraising?

Cash, Cheque or Credit?

Deciding how best to operate the financial side of your organisation involves weighing up the pros and cons of the big three options. While cash, cheques and credit cards all have their advantages, there are drawbacks to be aware of too. However, when managed well, any of the three options could be just the right fit. Let's consider them one by one. 

Cash

Benefits: Convenient, easy to handle. Cash in cash out operations are simple to operate.

Drawbacks: Possibility of theft or accusations of theft.

Suggestions: Count and record cash receipts promptly and regularly. Have at least two people present for all transactions. Keep cash locked in a secure location where only a limited number of people have access. Deposit cash in a bank regularly, so large sums are completely secure. Have signatures of receipt whenever cash is distributed.

Cheques

Benefits: Cheques deliver an easy to follow paper trail. All payments are recorded by the bank.

Drawbacks: With the recent increase in impersonal banking, forgery is possible. Though a small risk, depositing cheques through ATMs (automatic teller machines) could result in a forged cheque being processed. 

Suggestions: Secure all blank cheques in a locked location. Also secure under lock and key all signed cancelled cheques that are returned from the bank. 

Debit and Credit Cards

Benefits: Cards are widely accepted and more traceable than cash. Cards can be issued to key personnel for them to make purchases on behalf of the organisation.

Drawbacks: There may be a temptation for staff to use cards for personal use, intending to pay back later.

Suggestions: Have clear non-negotiable rules that cards are not for personal use. Set daily transaction limits, and meet with bank officials to discuss and set other limits, like limits on certain classes of vendors.

With some forethought and by remaining mindful of possible shortcomings, cash, cheques or debit and credit cards may be suitable for your organisation.