| 5 min read Fundraising Strategy
Whether this is your first time fundraising or you are a veteran in the field, establishing clear fundraising goals will lead your fundraiser on the path to success.
Having a defined set of smart goals makes it easier to design your fundraiser. Once you decide what you want your supporters to do, your calls to action become obvious.
Let your fundraising goals guide your strategy
Your specific fundraising goal will determine how you communicate with your supporters. Your language may change depending on if you’re looking for repeat donors compared to if your intention is to secure one-time gifts.
Once you have your fundraising goals set and defined, you can outline the steps needed to reach them. Think about the tasks that will need to be completed if you want to ensure a winning fundraising campaign. Then focus your energy and organization on accomplishing those tasks.
It will help to keep your desired outcomes in mind while planning the specific fundraising campaign. But first, you need to determine what those goals are and how you are going to measure them.
Immediate fundraising goals
1. Raise a specific amount of money
This is usually the primary goal for both a nonprofit organization and individuals when fundraising. While all of the other goals are important, the main focus of any fundraising initiative is to do just that, want to raise funds. Make sure this goal is realistic and specific to your fundraiser.
If you created a fundraiser to raise money for surgery, break down the projected costs to determine the set amount you need. On the other hand, if you are fundraising for your nonprofit, use past fundraisers to estimate a practical amount that you wish to raise. Watch the video for more tips on setting the right goal amount.
2. Recruit new supporters
Another main intent for fundraisers is to secure and get new donors. Be sure you share your fundraising goal on social media. This may seem obvious, but it is important to keep in mind during planning. Plan out how your fundraising goal will be communicated with any different organization and potential donors on social media. You want to find a way to connect people to your fundraiser in a way that feels personal to them. Read How to Secure the Five Types of Donors for Online Fundraising for in-depth tips.
3. Increase awareness
A common fundraising goal is to nurture and expand awareness for the cause, project, or brand that you are raising money for. Increasing awareness will multiply the number of people that will help and engage with your new fundraiser. Not everyone will become a set donor, but you can encourage people to spread the word instead. If you want to get new people talking about your organization then find creative ways to help spread the word. Check out our blog post 15 Simple Ways to Skyrocket Awareness for a Cause for inspiration.
Secondary fundraiser goals
1. Develop community connections
A less obvious objective is to strengthen existing community ties or to start cultivating them. It is strategic to develop set connections and goals between your fundraiser and your community. Find a way for people to get invested in your cause. Make them feel like they are a part of your goals and in turn, you will have a dedicated following of supporters.
2. Cultivate repeat givers
This goal may be more important than you think. After you have established a wealth of supporters, you may want to consider strategizing ways to encourage them to give again. Securing repeat donors means a significant uptake in your donation amount over time. For help on finding the right words, read our blog post Ten Donation Request Tips for Beginner Fundraisers.
3. Grow your email list
This objective may be more relevant for nonprofits or companies fundraising to enhance their corporate giving initiatives than for individuals. You can set your fundraiser goal as a chance to expand your email list. These emails can be used later to re-engage your supporters. Check out our blog post Use These Fundraising Email Templates to Reach Your Goal Faster.
Build from a solid foundation
One or several of these objectives may apply to your fundraiser. The important thing is to decide on your goal, and then build your plan from there. For example, you can create one fundraiser angled at expanding your awareness and develop community connections. Then you can create a number of different goals for your last year to end fundraising efforts. Or you may decide to lump them all into one.
Whichever way you decide to do it, keep in mind that the best way to successfully meet a goal is to develop a fundraising plan. See How to Create a Fundraising Plan for more in-depth tips.
Tracking your goals
Every goal mentioned above has a measurable outcome that you should track. Why is it important to track your goals? It helps give you an understanding of what worked well and you may decide to change in future fundraisers.
In order to measure your goals, you need to record the necessary information both before and after your fundraiser. For instance, if you wish to grow your email list then make sure you know the number of people that are on your list before the fundraiser launches. Then once the fundraiser is closed count again, so you can compare.
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