Latest / The Nonprofit Podcast / Ep 143 | How To Track and Manage Giving Tuesday Fundraising Metrics

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Ep 143 | How To Track and Manage Giving Tuesday Fundraising Metrics · The Nonprofit Podcast

• 0:04
  SPEAKER_00: The Nonprofit Podcast, powered by DonorBucks.
• 0:09
  SPEAKER_02: Could the key to your nonprofit's 2025 success be hidden in the data you've already collected from your Giving Tuesday campaign?
• 0:17
  SPEAKER_02: Now is the perfect time to explore how that valuable data can serve as a foundation for planning ahead and enhancing your future campaigns.
• 0:27
  SPEAKER_02: Welcome to the Nonprofit Podcast.
• 0:29
  SPEAKER_02: I'm Jenna, Education and Community Engagement Manager here at Donorbox.
• 0:34
  SPEAKER_02: We are here each week with practical actions you can use today to increase donations and take your nonprofit to the next level tomorrow.
• 0:42
  SPEAKER_02: Today, I'm joined by Britton Stalker, our fundraising strategist and coach here at Donorbox, and we're diving into a discussion about how to unlock the potential of the data you've gathered from Giving Tuesday.
• 0:56
  SPEAKER_02: We will explore how you can leverage that information to optimize your upcoming campaigns, build stronger donor relationships, and set yourself up for success in the new year.
• 1:06
  SPEAKER_02: Whether you're a seasoned fundraiser or just getting started, this episode is packed with actionable insights that will help you make the most out of what you've already collected.
• 1:17
  SPEAKER_02: Welcome, Britt.
• 1:18
  SPEAKER_01: Hey, Jenna, happy to be here.
• 1:21
  SPEAKER_01: You know I absolutely love talking about how data can really help all you nonprofits out there thrive.
• 1:28
  SPEAKER_02: I know you do, Britt.
• 1:30
  SPEAKER_02: Same here.
• 1:30
  SPEAKER_02: Okay, so Giving Tuesday has come in past.
• 1:34
  SPEAKER_02: And hopefully you've had a minute to catch your breath.
• 1:38
  SPEAKER_02: But now what?
• 1:39
  SPEAKER_02: What comes after the dust settles from the big day?
• 1:42
  SPEAKER_01: Well, this is just exactly where nonprofits often miss a big opportunity, Jenna.
• 1:49
  SPEAKER_01: Instead of just moving on to the next campaign or taking a break, it's actually so valuable to dive into those results.
• 1:57
  SPEAKER_01: You know, we're talking about reviewing your data.
• 2:00
  SPEAKER_01: It can show you how well your strategies worked or didn't work.
• 2:03
  SPEAKER_01: And it gives you a glimpse into your donors' behavior, their engagement with your messages, and of course, your return on investment.
• 2:12
  SPEAKER_01: All of this is key, Jenna, for making smarter decisions moving forward.
• 2:16
  SPEAKER_02: So the work is not quite over yet, but you're getting real close.
• 2:20
  SPEAKER_02: And without that kind of analysis, you risk repeating the same strategies that didn't work, or worse, missing opportunities to double down on what did in the new year.
• 2:31
  SPEAKER_02: So let's dig into this a little bit more.
• 2:33
  SPEAKER_02: What do you think are the key metrics nonprofits should really focus on when reviewing their Giving Tuesday performance?
• 2:40
  SPEAKER_01: Okay, let's talk about something super important.
• 2:44
  SPEAKER_01: How do you know if your fundraising efforts are actually working?
• 2:49
  SPEAKER_01: So let's start here.
• 2:50
  SPEAKER_01: Let's talk about return on investment, your ROI.
• 2:55
  SPEAKER_01: I like to think of it like this.
• 2:57
  SPEAKER_01: Did I get bang for my buck?
• 2:59
  SPEAKER_01: So basically you calculate it by dividing your total revenue by your total cost.
• 3:04
  SPEAKER_01: So if you spend$40,000 on a gala with a live auction, but it brought in only$50,000.
• 3:12
  SPEAKER_01: And don't even get me started, that doesn't include the total number of hours to execute this major event.
• 3:18
  SPEAKER_01: Your ROI isn't exactly amazing, right?
• 3:22
  SPEAKER_01: So we want to make sure our events and our campaigns are worth the investment, both financially in terms of impact, and also in terms of how we allocate our time.
• 3:33
  SPEAKER_01: And that's where ROI comes in.
• 3:36
  SPEAKER_01: And let's talk about the next metric, which is a big deal.
• 3:40
  SPEAKER_01: This is donor acquisition rate.
• 3:43
  SPEAKER_01: It shows you how many new supporters joined your cause during the year and campaign.
• 3:48
  SPEAKER_01: And this is such a big deal because every new donor is a potential long-term supporter.
• 3:55
  SPEAKER_01: They are the future of your organizations.
• 3:58
  SPEAKER_01: And I think we've talked about this in past episodes.
• 4:01
  SPEAKER_01: We know that it costs five times more to acquire a new donor than to retain our existing ones.
• 4:09
  SPEAKER_01: And that's why nurturing relationships, really developing and building relationship skills with new supporters is so important.
• 4:18
  SPEAKER_01: If 40% of your year and donors are new, I will tell you, now's a time to focus on deepening those connections.
• 4:25
  SPEAKER_01: And you're going to want to turn them into long-term supporters for your cause.
• 4:30
  SPEAKER_02: That rate of five times more to acquire than to retain the donors you already have is pretty major.
• 4:36
  SPEAKER_02: So uh in that same lane, another key metric to look at obviously is donor retention rate.
• 4:41
  SPEAKER_02: And this tells us how many of our previous donors came back for more.
• 4:46
  SPEAKER_02: So a high rate means that you're doing a great job of building relationships.
• 4:50
  SPEAKER_02: And if it's low, it's time to step up your stewardship game.
• 4:54
  SPEAKER_01: That's spot on.
• 4:55
  SPEAKER_01: And just looking at your average donation amount, it's going to help you spot trends and donor generosity.
• 5:01
  SPEAKER_01: And you're going to be able to set future goals.
• 5:04
  SPEAKER_01: It's the same way with engagement metrics.
• 5:06
  SPEAKER_01: They work the same way.
• 5:08
  SPEAKER_01: You know, take a look at things like your email open rates, click-through rates, and how are your supporters interacting on social media.
• 5:16
  SPEAKER_01: All of this data, it's going to give you a sense of how well your message is just resonating with your audience.
• 5:23
  SPEAKER_01: And once you've got the bigger picture, you can start to see how these engagement numbers connect to other key metrics that we just talked about.
• 5:31
  SPEAKER_02: Yep.
• 5:32
  SPEAKER_02: Yep.
• 5:32
  SPEAKER_02: Those are good metrics to look at for sure.
• 5:34
  SPEAKER_02: Now, I want to make this more tangible with some real world examples, if I can.
• 5:40
  SPEAKER_02: So let's say a nonprofit notices a major jump in donations after posting a particular type of Giving Tuesday content on their social media.
• 5:49
  SPEAKER_02: I've actually seen this happen with one of our clients before.
• 5:52
  SPEAKER_02: They started sharing behind-the-scenes stories about the community that they're serving, like really showcasing the human side of their work, which is what we all love to see, right?
• 6:01
  SPEAKER_02: And then boom, all of a sudden donations seem to spike after that content went live.
• 6:05
  SPEAKER_02: And the audience just seemed to connect really well with that authenticity and it sparked action.
• 6:11
  SPEAKER_02: So if you're a nonprofit, this is the kind of stuff that you need to be looking at closely, especially when you can focus it on a campaign like Giving Tuesday, which you just had.
• 6:21
  SPEAKER_02: So what kind of content was getting that type of engagement?
• 6:25
  SPEAKER_02: What kind of posts were driving donations?
• 6:27
  SPEAKER_02: What platforms were they coming from?
• 6:29
  SPEAKER_02: It makes a big difference when you're analyzing your data and your engagement.
• 6:32
  SPEAKER_01: Yeah.
• 6:33
  SPEAKER_01: And once you see that, I think it's important to analyze why that content works.
• 6:37
  SPEAKER_01: So was it the way the message was positioned or framed?
• 6:41
  SPEAKER_01: Was it a powerful call to action?
• 6:44
  SPEAKER_01: Or maybe you just had a visually compelling post that really attracted people's attention.
• 6:49
  SPEAKER_01: It could have been timing as well, right?
• 6:51
  SPEAKER_01: Timing is everything.
• 6:52
  SPEAKER_01: All of these small nuances, small changes like posting during peak hours, they make a huge difference.
• 6:59
  SPEAKER_02: Yes, exactly.
• 7:01
  SPEAKER_02: And by identifying these little factors that actually put together are not so little at all, you can replicate and enhance these strategies for your future campaigns.
• 7:11
  SPEAKER_02: Again, this is Giving Tuesday.
• 7:13
  SPEAKER_02: You just launched this, but this might be a good pathway to your year-end campaign launch.
• 7:17
  SPEAKER_02: So these are things that you want to analyze now so that you can replicate it for your year-end campaign.
• 7:22
  SPEAKER_01: Totally.
• 7:22
  SPEAKER_01: And I'll throw out another example, Jenna.
• 7:25
  SPEAKER_01: It really could be your email open rates.
• 7:28
  SPEAKER_01: Let's just say that your email open rates were lower than expected.
• 7:32
  SPEAKER_01: And that could signal a few things.
• 7:34
  SPEAKER_01: Maybe the subject lines that you put out, they just weren't catchy enough.
• 7:38
  SPEAKER_01: Maybe they were spammy, or the content wasn't just hitting the right audience anymore.
• 7:45
  SPEAKER_02: Yep, totally.
• 7:47
  SPEAKER_02: Or it could be a simple case, and I've seen this more often than not as well.
• 7:51
  SPEAKER_02: It could be a simple case of needing to segment your email list more effectively.
• 7:56
  SPEAKER_02: I've encountered this before as well, sending out many email campaigns.
• 8:01
  SPEAKER_02: If you tailor your messages to different donor groups, say your new donors versus your longtime supporters versus your volunteers versus your major donors, you're more likely to see better engagement.
• 8:13
  SPEAKER_02: I know we talk about this all the time, but it's so true and it's so easy to figure that out during a specific campaign like Giving Tuesday.
• 8:21
  SPEAKER_01: Yeah, I think the thing is it's managing and analyzing all of this data.
• 8:26
  SPEAKER_01: Let's be real, it can definitely be a challenge, right?
• 8:29
  SPEAKER_01: And I think one of the biggest hurdles I see for many of the nonprofits that I coach is siloed data when all of this valuable information, we know it's spread across different disparate platforms and systems.
• 8:43
  SPEAKER_01: And that makes it tough to get a clearer picture of what's really going on.
• 8:47
  SPEAKER_01: And so the big question is, and for the listeners out there, how do we bring it all together in a way that's easy to access and even more importantly, easy to analyze?
• 8:58
  SPEAKER_01: What tools can you think of that might help with this?
• 9:02
  SPEAKER_02: Um, I'm jumping the gun a bit here, Britt.
• 9:05
  SPEAKER_02: Uh, you've put me on the spot a little bit, and we'll dive deeper into this during our 2025 trends episode that we'll be doing here soon.
• 9:14
  SPEAKER_02: But I can already tell you that nonprofit CRMs are definitely a game changer.
• 9:20
  SPEAKER_02: I've worked with them, I've worked without them, and you can feel a big difference when you're working with them.
• 9:24
  SPEAKER_02: So take donor box CRM, for example.
• 9:27
  SPEAKER_02: It pulls all of your donor data and campaign information into one place.
• 9:32
  SPEAKER_02: So you can easily access those key metrics we've been talking about throughout this entire giving season, and you can quickly pull up things like donor acquisition and retention rates without having to dig through multiple systems.
• 9:44
  SPEAKER_02: So you're talking about siloed data.
• 9:46
  SPEAKER_02: This really just puts everything in one consolidated place and makes it very easy for you.
• 9:52
  SPEAKER_01: Oh my goodness.
• 9:53
  SPEAKER_01: I love CRMs.
• 9:54
  SPEAKER_01: We know they're huge time savers, right?
• 9:56
  SPEAKER_01: They streamline the processes.
• 9:58
  SPEAKER_01: Nonprofits can focus on developing what they do best, their strategies, rather than getting bogged down by all of the small details.
• 10:06
  SPEAKER_02: And here's the exciting thing.
• 10:08
  SPEAKER_02: We've got something new in the works at Donorbox that's going to take this even further.
• 10:14
  SPEAKER_02: It's a tool designed to make data analysis something you can actually look forward to rather than dread, if you can believe it.
• 10:21
  SPEAKER_01: Is that even possible, Jenna?
• 10:23
  SPEAKER_01: What are we talking about here?
• 10:24
  SPEAKER_01: What can we expect?
• 10:26
  SPEAKER_02: Well, yeah, okay, so I know it is actually possible.
• 10:29
  SPEAKER_02: So you can expect an AI-powered assistant designed to effortlessly transform your data into actionable insights.
• 10:38
  SPEAKER_02: For example, it can identify patterns in donor behavior and suggest optimal times for outreach.
• 10:44
  SPEAKER_02: It can enhance engagement and fundraising outcomes because of this data and these insights that they're giving you, and it can visualize the data.
• 10:52
  SPEAKER_02: I love this part and use it to fully inform carefully crafted personalized outreach letters and appeals and social copies.
• 11:01
  SPEAKER_02: So it can really do it all.
• 11:02
  SPEAKER_01: Oh, that sounds like a real game changer for so many nonprofits.
• 11:06
  SPEAKER_01: They're wanting to optimize their strategies without investing, again, all of the time to do that data analysis, especially nonprofits that I think of, the one-person founders, you know, node development team that just don't have the capacity to do this as regularly as they would like to do.
• 11:24
  SPEAKER_02: For sure.
• 11:25
  SPEAKER_02: It really is the perfect partner.
• 11:27
  SPEAKER_02: And I've been thinking about all of our small teams that we have through our organizations at DonorBox and people that we're connected with on LinkedIn.
• 11:34
  SPEAKER_02: I've seen a lot of posts lately saying, I'm just one person.
• 11:37
  SPEAKER_02: How do I do it all?
• 11:38
  SPEAKER_02: And this new tool really is the perfect partner, especially for teams that need the extra pair of hands or never have time.
• 11:45
  SPEAKER_02: But let's go ahead and dig back into what nonprofits need to do once they've analyzed their data.
• 11:51
  SPEAKER_02: So, how do they apply those insights to maximize their impact moving forward?
• 11:56
  SPEAKER_01: Ooh, I'm twiddling my thumbs, Jenna.
• 11:59
  SPEAKER_01: This is actually my favorite part.
• 12:01
  SPEAKER_01: So let's just say, you know, all of the nonprofits tuning in.
• 12:05
  SPEAKER_01: You've just wrapped up your year-end campaign.
• 12:08
  SPEAKER_01: Now the fun really starts.
• 12:09
  SPEAKER_01: You can pull a report.
• 12:11
  SPEAKER_01: It might be from September to end of December of all of your year-in donors.
• 12:17
  SPEAKER_01: Then you can break down the group by location and you might find donors who live nearby you.
• 12:22
  SPEAKER_01: Why not get personal, invite a few for coffee?
• 12:25
  SPEAKER_01: It's a great way to build a stronger connection and just start laying the foundation for the year ahead.
• 12:31
  SPEAKER_02: I love that idea.
• 12:33
  SPEAKER_02: You know what?
• 12:33
  SPEAKER_02: And I'll take this even further.
• 12:35
  SPEAKER_02: How about just for your Giving Tuesday campaign, right?
• 12:38
  SPEAKER_02: And really work on nurturing those relationships that just gave for Giving Tuesday to bring them into the year-end giving as well.
• 12:45
  SPEAKER_02: So I think that's a really powerful way to nurture those relationships for sure.
• 12:50
  SPEAKER_01: Exactly.
• 12:50
  SPEAKER_01: And I think thinking ahead in the new year, it's all about prioritizing personalization and your outreach.
• 12:59
  SPEAKER_01: You know, this goes beyond just using someone's name and engage with them.
• 13:03
  SPEAKER_01: Think about referencing their past donations.
• 13:07
  SPEAKER_01: What types of programs are they supporting?
• 13:10
  SPEAKER_01: Um, all of those nitty-gritty details you want to get clear and get prepared for the year ahead.
• 13:15
  SPEAKER_01: Because at the end of the day, using data and segmentation help you build those deeper, more meaningful connections with your year-in supporters.
• 13:24
  SPEAKER_02: And again, let's not forget about adjusting your communication channels based on what worked or what didn't for your different donors, right?
• 13:33
  SPEAKER_02: For example, if social media didn't bring in the results you were hoping for, it might be time to reallocate resources to more effective channels like email or direct mail or phone calls.
• 13:43
  SPEAKER_02: You know your donor base.
• 13:45
  SPEAKER_02: It's all about being flexible and optimizing your strategy.
• 13:48
  SPEAKER_01: Yes.
• 13:49
  SPEAKER_01: And we want to set data-driven goals for future campaigns.
• 13:53
  SPEAKER_01: We want to get ahead of it.
• 13:54
  SPEAKER_01: And, you know, I think about this, for example, based on the trends that you've just noticed, right?
• 14:00
  SPEAKER_01: From even giving Tuesday or from your year-end campaign, you might set a goal to improve donor retention by a certain percentage.
• 14:07
  SPEAKER_01: That kind of goal, it's specific, it's measurable, and we know it's tied directly to your past performance, making it a really strong KPI.
• 14:16
  SPEAKER_01: And the beauty of it is that by using these data insights, you're not just working in the dark.
• 14:21
  SPEAKER_01: You've got a clear path forward.
• 14:23
  SPEAKER_01: And you can continue, think about it, you're continually tweaking and improving your fundraising efforts over time.
• 14:30
  SPEAKER_01: What this really is about, it's about consistency.
• 14:33
  SPEAKER_01: And we're continually learning from our donors what our donors want, what they're telling us, so that we can adjust how we engage with them accordingly.
• 14:41
  SPEAKER_02: And even without a full CRM, you can still analyze your Giving Tuesday data with the tools and integrations available through DonorBox, along with some free resources.
• 14:52
  SPEAKER_02: Sure, it might feel like extra work, but trust me, it is so worth it.
• 14:57
  SPEAKER_02: Just take the time to manually assess your campaign's performance and you will uncover such valuable insights to refine your strategies, improve your donor engagement, and increase your fundraising success for your next campaign and into the new year.
• 15:12
  SPEAKER_02: So just remember keeping your records organized will make your life so much easier, you guys, when it comes time to analyze again next year or for your next campaign.
• 15:22
  SPEAKER_02: Okay, let's break down three immediate actions you can take after analyzing your Giving Tuesday data to start seeing better results moving forward.
• 15:32
  SPEAKER_02: So, first up, you want to make sure that you segment your Giving Tuesday donor list, take a look at your data, break it down into meaningful groups, whatever that means to you.
• 15:41
  SPEAKER_02: For example, you could separate new donors from longtime supporters or even categorize them by location.
• 15:47
  SPEAKER_02: And this lets you tailor your messaging and outreach to specific donor groups, which makes your communications more personal and more effective, and lets you maybe even show up for coffee every once in a while.
• 15:58
  SPEAKER_02: And it's a quick win that can make a big difference in your engagement for sure.
• 16:03
  SPEAKER_02: And then next, you want to refine your communication strategy.
• 16:06
  SPEAKER_02: So if you found that one channel, like email, performed better than social media, it might be time to shift more of your focus and your resources there for future campaigns.
• 16:17
  SPEAKER_02: So look at what worked and allocate your time and your budget to the strategies that got the best results.
• 16:23
  SPEAKER_02: Don't just go off of feeling.
• 16:25
  SPEAKER_02: You want to go based off of performance and data.
• 16:27
  SPEAKER_02: It is all about optimizing your efforts and focusing on what's actually driving results.
• 16:32
  SPEAKER_02: And then finally, set data-informed goals.
• 16:36
  SPEAKER_02: Take a look at those key metrics like your donor retention rates or the average donation amount and use that data to set specific measurable goals for the next campaign, just as Britt said.
• 16:47
  SPEAKER_02: For example, you may want to improve your donor retention rate by 10%, or maybe you want to improve your average donation amount, or maybe you want to get a certain amount of repeat donors, right?
• 16:57
  SPEAKER_02: And these goals will really help guide your strategy and give you something tangible to work toward.
• 17:02
  SPEAKER_01: I think you nailed it.
• 17:04
  SPEAKER_01: We're all about the rule of three.
• 17:06
  SPEAKER_01: We gave you three actionable tips.
• 17:08
  SPEAKER_01: And let me just add this again, I think it's important to remember analyzing your giving Tuesday data, it isn't just about crunching those numbers.
• 17:17
  SPEAKER_01: It's about truly understanding your donors and you're armed with those insights.
• 17:22
  SPEAKER_01: It's all about relationship building and it's about serving your mission in the best way possible.
• 17:27
  SPEAKER_02: And tools like donorbox CRM make that whole process so much easier, especially with the upcoming enhanced AI assistant.
• 17:36
  SPEAKER_02: And soon you'll be able to gain insights even faster and more intuitively, making it easier to make data-driven decisions on the fly.
• 17:44
  SPEAKER_01: Definitely.
• 17:45
  SPEAKER_01: So take the time.
• 17:46
  SPEAKER_01: You really want to dive into your data.
• 17:48
  SPEAKER_01: It's gonna be one of the best ways to set yourself up for success in your next campaign.
• 17:53
  SPEAKER_01: We know you're already thinking ahead, and those insights you gather now will help you optimize your strategy for even better results down the road.
• 18:01
  SPEAKER_02: You bet, Britt.
• 18:02
  SPEAKER_02: Thank you so much for joining me today and for sharing your insights.
• 18:05
  SPEAKER_02: It's always a pleasure.
• 18:07
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• 18:10
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