Make 2024 Your Best Fundraising Year Yet
Are you already thinking (or stressing!) about your fundraising goal next year? Or maybe you don’t have a goal, but you know you want to start taking your fundraising to the next level. The great news is…now is the BEST time to start thinking and planning for 2024! How do I know that? Because it’s never too late to create and start implementing a strategic fundraising plan…even if you’re reading this well into 2024!
Let’s walk through some practical steps to make 2024 your best fundraising year yet:
1.Review and Reflect
There’s a reason so many successful people and businesses focus on journaling - learning from your past will always set you up for a better future. So first, take time to reflect on what you’ve already tried. Write this down in a journal, or maybe even an email to send to a colleague. Better yet, bring your team, friends, or volunteers together to reflect on the following questions:
What were our fundraising goals for the past year, and did we achieve them?
Which fundraising channels were most successful for us?
How many donors did we lose (meaning they gave 2 years ago, but not last year)? How many new donors did we gain?
What new ideas did we try, and were they successful?
What was the most stressful part of the year or our fundraising efforts? What could we have done to make it less stressful?
How did we engage with donors throughout the year? Did donors feel appreciated? Do they know how their gift made an impact?
Was our board engaged? Why or why not? What do we wish we could see from all board members?
What feedback did we receive from donors, and how can we incorporate it?
What worked really well that we want to keep expanding on?
2. Set Ambitious - but Realistic - Goals
Some people LOVE fundraising goals. Some people hate them with a burning passion. Regardless of where you fall on the spectrum, you probably have a fundraising goal you have to meet. And that’s okay! Goals are meant to help guide us and provide us a target amidst a long year. Setting your goal is therefore a critical part of having a successful year. In fact, your goal will DEFINE what a successful year looks like.
It’s important to set both ambitious, but also realistic goals. It’s also important as a fundraiser to know that while yes, you do need to focus on the bottom line, there’s also a lot that is not in your control. That’s why I suggest setting several goals: I) a baseline fundraising goal, II) a dream fundraising target, and III) several non-financial goals that you can 100% control.
Here is how I suggest setting these different types of goals:
Step 1. Analyze the Past
How much did you raise in the last 3 years? What was the percentage growth or decline between years?
How much did you raise from events, campaigns, mailings, or one on one conversations?
When do you receive the most money? Is it around an event you hold, or at the end of the year with your year end appeal?
Step 2. Look to the future
How much will your programs cost in the next year? How much will it cost to cover your fundraising expenses, such as events, mailings, or travel?
What funding do you already expect, such as through pledges or grant income? Is this confirmed, or highly likely?
What could you accomplish with more funding than your baseline costs?
Step 3. Bringing the past and future together
Based on Steps 1 and 2, how much money will you need to fundraise to cover your baseline costs? This is your BASELINE fundraising goal.
Based on Steps 1 and 2, how much money could you potentially fundraise to cover all your dream ideas? This is your DREAM fundraising target (or a “stretch” goal).
Step 4. Set Non-Financial Goals: Metrics within Your Control
Set goals based on metrics that are 100% within your goals. When the fundraising numbers seem overwhelming, go back and just focus on these metrics. These metrics should motivate you to help you focus on inputs you can focus on in order to know you did your best. Example metrics include: outreach touch points (social media, newsletters, direct communications), solicitiations, proposals submitted, and donor meetings.
3. Evaluate Your Toolbox
If you’re working for a nonprofit (or trying to start one), it’s super easy to think you have no resources to start with. But you actually do! It’s important to work from an “abundance mindset” rather than a “scarcity mindset.” It’s important to think about what you already have at your disposal so that you can leverage those tools, networks, connections and resources wisely.
So start now by identifying and reflecting on what’s in your “toolbox:”
Board Members:
Identification: List all current board members and their respective skills, expertise, and professional networks.
Leveraging Strategies: Tap into board members' networks for potential donors, partnerships, or in-kind contributions. Assign specific responsibilities based on their strengths, such as outreach, event coordination, or donor cultivation.
Volunteers:
Identification: Compile a list of active volunteers and their skills, availability, and connections.
Leveraging Strategies: Engage volunteers in fundraising initiatives, whether through peer-to-peer fundraising, event participation, or soliciting donations from their own networks. Recognize and appreciate their efforts to maintain enthusiasm.
Existing Donors and Supporters:
Identification: Review your donor database to identify recurring donors, supporters, and past contributors.
Leveraging Strategies: Engage with existing donors through personalized communication, expressing gratitude and updating them on current initiatives. Encourage them to become advocates and ambassadors, sharing their positive experiences with your organization.
Friends and Family Networks:
Identification: Explore the personal networks of staff, volunteers, and board members, including friends and family.
Leveraging Strategies: Leverage personal connections for introductions to potential donors or sponsors. Encourage staff and volunteers to involve their friends and family in fundraising events or campaigns, amplifying the outreach.
Professional Networks:
Identification: Identify professional networks associated with your organization, including partners, collaborators, and industry contacts.
Leveraging Strategies: Collaborate with professional networks for joint fundraising events, co-branded campaigns, or shared resources. Seek endorsements and testimonials from influential figures within these networks.
Local Community Connections:
Identification: Assess your organization's ties with local businesses, community leaders, and influencers.
Leveraging Strategies: Forge partnerships with local businesses for sponsorship opportunities, host community events, or collaborate on fundraising drives. Engage community leaders as honorary hosts for events or as spokespersons for your cause.
In-Kind Contributions:
Identification: Recognize organizations or individuals providing in-kind support, such as free services, products, or venue space.
Leveraging Strategies: Acknowledge and showcase in-kind contributors as valued partners. Utilize their offerings for fundraising events, auction items, or giveaways to enhance the perceived value of donor contributions.
Skill Sets within Your Team:
Identification: Assess the skill sets of your internal team, including staff and volunteers.
Leveraging Strategies: Capitalize on internal expertise for content creation, marketing materials, and strategic planning. Empower team members to contribute their skills to enhance fundraising campaigns, whether it's graphic design, writing, or social media management.
Tech and Digital Resources:
Identification: Identify digital tools, platforms, and technologies currently at your disposal.
Leveraging Strategies: Leverage technology for online fundraising, social media campaigns, and donor outreach. Explore the potential of crowdfunding platforms, email marketing tools, and virtual event platforms to amplify your fundraising efforts.
Personal Networks of Those You Serve:
Identification: Recognize the networks and connections of the individuals and communities you serve.
Leveraging Strategies: Encourage and empower those you serve to become advocates for your cause. Provide tools and resources for them to share your message within their networks, expanding the reach of your fundraising initiatives.
Knowledge and Expertise within Your Organization:
Identification: Identify specific knowledge or expertise within your organization, such as subject matter experts or thought leaders.
Leveraging Strategies: Position your organization as an authority in your field. Leverage internal expertise for thought leadership content, webinars, or workshops that can attract potential donors and collaborators.
4. Brainstorm Fundraising Opportunities
Now that you’ve reflected on the past, set ambitious but realistic goals, and identified resources you already have in your toolbox, it’s time to begin brainstorming new opportunities. Work with people around you to create a list of ideas and opportunities you can leverage to fundraise in 2024. This could include expanding on past initiatives, or starting new ones! Here’s a list of ideas to get you started:
Online Crowdfunding Campaigns:
Launch targeted crowdfunding campaigns on platforms like Kickstarter or Indiegogo, leveraging engaging storytelling and compelling visuals to attract a broad online audience.
Virtual Fundraising Events:
Host virtual events such as webinars, workshops, or virtual galas, complete with online auctions, to engage donors and create an interactive fundraising experience.
Peer-to-Peer Fundraising:
Implement a peer-to-peer fundraising campaign, encouraging supporters to create their own fundraising pages and engage their networks in support of your cause.
Corporate Partnerships:
Seek partnerships with local businesses or corporations for sponsorships, workplace giving programs, or cause-related marketing initiatives.
Major Gift Campaigns:
Develop a targeted major gift campaign, identifying and cultivating relationships with high-impact donors who have the capacity to make substantial contributions.
Monthly Giving Programs:
Establish a recurring giving program, encouraging donors to make monthly commitments, providing a steady and reliable source of income throughout the year.
Grant Writing and Foundation Funding:
Invest time in researching and applying for grants from foundations, government agencies, and philanthropic organizations aligned with your mission.
Legacy Giving and Planned Gifts:
Promote legacy giving and encourage supporters to include your organization in their wills or make planned gifts, providing long-term sustainability.
Holiday Giving Campaign:
Launch a year-end holiday giving campaign, capitalizing on the spirit of generosity during the festive season.
Special Event Fundraisers:
Organize special events, such as charity runs, walks, or cycling events, allowing participants to fundraise for your cause while engaging in physical activities.
Virtual Merchandise Sales:
Design and sell branded merchandise online, with proceeds contributing to your fundraising goals.
Online Auctions:
Conduct virtual auctions featuring unique items or experiences donated by supporters, local businesses, or celebrities.
Donor Appreciation Events:
Host exclusive events or webinars to express gratitude and update donors on the impact of their contributions.
Community Partnership Drives:
Collaborate with local businesses for community partnership drives, where a percentage of sales during a designated period is donated to your organization.
Matching Gift Programs:
Encourage donors to participate in matching gift programs offered by their employers, doubling the impact of their contributions.
Social Media Challenges:
Create engaging social media challenges or campaigns that encourage user-generated content and donations, leveraging the power of viral trends.
Education and Awareness Campaigns:
Develop campaigns that not only raise funds but also educate the public about your cause, fostering a deeper understanding and connection.
Membership Programs:
Establish a membership program offering exclusive benefits to donors, creating a sense of belonging and fostering long-term commitment.
Collaborative Fundraising Events:
Partner with other nonprofits or community organizations for joint fundraising events, expanding your reach and impact.
Employee Payroll Giving:
Encourage companies to institute employee payroll giving programs, allowing staff to contribute a portion of their salary to your organization.
Virtual Art Exhibitions or Performances:
Collaborate with local artists or performers for virtual exhibitions or performances, with a percentage of ticket sales supporting your cause.
Mobile Fundraising Apps:
Utilize mobile fundraising apps to make it easy for donors to contribute, whether through one-time donations, recurring gifts, or in-app campaigns.
5. Wrapping It Up
Congratulations! If you’ve made it to the end of this blog post, then you’ve successfully 1) Reflected on your past efforts, 2) Set ambitious but realistic goals (both financial and non-financial to help you focus on what you can control), 3) Identified and evaluated the resources you already have at your disposal, and 4) Identified a whole list of ideas and opportunities for fundraising for next year.
Now you’re ready to develop your fundraising plan by creating a timeline of your fundraising opportunities. Don’t forget to continue leveraging the tools in your toolbox, and don’t be afraid to readjust plans and goals as you need. The best plans are the ones you’re constantly reevaluating.
Are you excited? I am! You’re about to have your BEST FUNDRAISING YEAR YET!
PS: If you’re looking to take your fundraising to the next level, here are 3 extra resources just for you!
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