Tracking your fundraising performance
When an executive director or chair of the board fundraising committee requests a fundraising report, many development directors will prepare a meticulous presentation on the revenue generated from events and appeals, tracked against projections for the year.
This is useful information. After all, we need to know that money is coming in the door to support our programs – to power our missions.
“Revenue” is only part of your fundraising story.
Similar to the “Blind Men and the Elephant” parable, focusing on just one fundraising metric to gauge your performance – and more importantly to tailor your approach for improvement – prevents you from benefiting from much deeper insight.
What if your revenue increases while the number of donors actually shrinks? Sure, it’s great that someone in your pool has increased their giving, but what does having fewer contributors say for next year?
Or, maybe your revenue has increased (great news), but you’re not able to pinpoint exactly what’s driving the growth. When you take a deeper look, you may discover that the new donors you picked up last year are overwhelming giving again this year (new retained donors). This indicates how effective your stewardship efforts are. The phone calls, emails, newsletters and thank you notes are successfully keeping new people engaged – good to know!
This insight we’re talking about – this is what “data“ does.
Putting this information (data) and insight to use – now we’re talking about data-inspired fundraising.
See, data isn’t actually scary, is it?
Ready for some more insight?
We’ve isolated the information that really matters to alleviate any fears of information overload. Take your next step to unlocking greater insight into your fundraising performance, here.