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Previous Issue: Week 1
Welcome to Issue #2 of Fundraising Accelerator, a step-by-step road map for planning a successful GiveBIG campaign.
We are three weeks away from the start of early giving (April 28)! It is important to raise money from your regular donors during this period so you can be partway toward the fundraising goals displayed on your profile page before May 5. Right now, focus on these three key planning elements:
1. Draw up your campaign plan.
2. Update or build out your profile page.
3. Secure matches that incentivize donors.
The first step in planning a successful GiveBIG campaign is to get your plan ready to go. Here are three components of a great plan that will help you raise more dollars:
1. A realistic fundraising goal at the top of your profile page.
Donors are more likely to give to organizations that have set an achievable fundraising goal. You can move your goal up or down at any time. Due to the Goal Proximity Effect, people are more likely to give to a campaign with a goal that is likely to be achieved.
Donors are most likely to give if you've reached 66% of your goal or higher.
We recommend you set your goal at 100% of what you raised during GiveBIG last year. If you are new to GiveBIG, look at how much you’ve raised during previous fundraising campaigns or how much a peer organization raised during last year’s GiveBIG.
You can revise your goals at any time, so if you reach more than 80% of your goal during early giving (or on May 5), move your goal up to stand at around 66%. When setting goals, look to indicators such as:
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2. A communications calendar
Create a schedule of all the communications you’ll send out before, during, and after GiveBIG. Start by writing three key messages. When designing these messages:
Need inspiration? The GiveBIG Campaign Guide can help you map out your schedule and provides sample messages to get your creative juices flowing.
Here’s a recommended email schedule you should follow:
Important note: Spread out your communications so your donors aren't being spammed. Remove people who've donated from your list to reduce the risk of them unsubscribing – which means they’ll never receive your e-communications again.
3. Outreach to P2P fundraisers
Peer fundraising is when you ask your most passionate supporters to be ambassadors for your organization and fundraise on your behalf.
Is there a superstar in your orbit who’s given to every GiveBIG campaign? A board member who is well-known in the community? A donor or volunteer who’s connected to a large corporation or faith-based group? Put a list of prospects together and start calling and emailing them. Where necessary, bring in your executive director or a board member if they have a prior relationship with any of these folks.
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Your profile is critical to your success! While donors who already know you will read your emails and click on your page, what about donors who don't know you yet?
As the saying goes, "You never get a second chance to make a first impression." Your profile page will be your first impression to potential donors.
When creating it, keep the following in mind:
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Matches are a great incentive for donors. They create a sense of urgency since donors want to help you unlock your match. Double the Donation reports that 84% of donors are more likely to donate if a match is offered!
First, let's distinguish between a match provided by an employer and a match provided by a donor (or group of donors).
Matches do not need to be a lot of money! The ratio of the match doesn’t matter all that much either – studies show that even ratios as low as 30-50% will motivate donors.
So, how do you start? Identify possible donors to provide a donor matching fund. Reach out to donors or board members who have given a matching gift in the past or have made a substantial gift.
Washington Gives allows you to offer multiple matches and different kinds of matches. For example, you can have a match kick in when you reach a certain number of unique donors rather than a donation level. This gives you more flexibility and introduces a community-centric focus that is more about participation than the size of the gift. This aligns well with giving days because they are so effective at bringing in new donors.
Consider how you want to time the debut of your matching fund. Options include:
Plan a match strategy that includes multiple matches with different purposes to help you achieve a variety of goals. For example, if you can find two donors who can provide matching funds, you might use one to match gifts during early giving to generate momentum, and another as a "surprise" late during the May 5 giving day to help you finish strong.
Employer Match: When a company offers to match donations made by an employee (usually up to a pre-determined amount).
Donor Match: When a donor or group of donors (such as the board of directors) pledges to match the donations made to a nonprofit.