When successful, fundraising activities and campaigns have the potential to change lives.
It’s critical to have fundraising evaluation in place to analyse what you were able to accomplish and how you can do better to help inform fundraising activities in the future.
In this article, we will go through five different tips to help you evaluate and recalibrate your fundraising activities and campaigns.
Tip #1: Begin ASAP
Set up your fundraising evaluation systems early on and begin evaluating your fundraising efforts as soon as possible. You have to do it the moment the pledge forms have been sent, the money has been counted, and thank you notes sent to your donors. This should happen within a month of the completion of your campaign. This will give you plenty of time to debrief and engage everyone in the review while all of your memories are still fresh. Give yourself enough time to review so you identify fundamental ideas to improve.
Tip #2: Prioritise Data Analysis
Every fundraising activity or event should begin with a list of goals. You should perform a thorough data analysis afterwards to see if you successfully met your target metrics. You should also look at your year-over-year growth, your donor volume, and whether there was an increase or drop in the donations you have received. These secondary metrics might help you identify hidden problems, such as reaching out to new individuals. Don’t forget to track prospects and relationships as well as the bottom line.
Tip #3: Set New Goals
Data analysis will show you how your fundraising performed. It might be excellent, satisfactory, or below your expectations. Nevertheless, regardless of your results, you must consider what you will do in the future. Create new goals, do a fundraising feasibility study, and make a list of the things you can keep and modify. Rather than focusing on assessing the problem, encourage your team to consider building on your successes or changing the way things are done.
Tip #4: Stay True to Your Mission
Donors naturally gravitate to a mission-driven organisation. A specific mission serves as a source of motivation for both individuals and funders, so you should maintain the mission’s relevance. Even the most fundamental visions are worth reviewing from time to time. Consider if the campaign emphasised your mission and whether you communicated this clearly to everyone involved.
Tip #5: It Is Not a One-Time Thing
Fundraising strategies should be evaluated and improved regularly. Continuous fundraising evaluation will help you and fundraising companies for nonprofits/charities identify trends that will lead to intelligent decisions. You’ll be able to go back and discover which years were the most successful and then dig into your notes to figure out why.
You should always be thinking about how you can improve. This will help you avoid possible losses and discover fresh possibilities. Take note of any changes in your strategy, messaging, or opportunities for donor interaction.
Evaluating your fundraising involves a careful mix of critical improvement and positive reinforcement. There’s always space for growth and assessment, no matter how effective your campaign is on paper. Make sure you evaluate with complete openness and honesty so you can continue to improve while staying committed to the purpose of your organisation.
If you are looking for funding consultants in the UK, Craigmyle Fundraising Consultants can help. We are the longest established UK firm in the field, and we have a strong vocational approach to our work with charities. We offer strategic reviews, capital campaigns, feasibility studies, revenue fundraising, and more. Talk to our team now!