So much has changed in the rollercoaster of 2020.
Looking ahead to the second half of this year, the only thing that’s clear is - nothing is clear.
With this new norm that COVID-19 has given us, how can you plan your fundraising efforts - to make sure you raise what you need - with so much uncertainty?
Here's a simple way of gaining clarity.
I call it ‘Half From 12’ . It will help you plan how to reach a fundraising goal.
Let’s say you anticipate a six figure budget shortfall this year of $150K.
Data has show, to raise this amount, you need to get at least 50% of your total funding goal from up to 12 donors to guarantee you reach your total fundraising goal.
It doesn't seem to matter what you're raising money for, where the money is going, or how big your organization is.
It’s always the big gifts that determine the success of a fundraising campaign. I’ve seen this first hand working on and analysing the data from 120+ online campaigns.
In our example, at least $75K of the $150K needs to be made up of big donations of between $10K - $75K in size.
When you can put a name to $75K of funding from up to 12 people, then you can solicit the rest from donations of less than $10K and be confident of reaching your goal.
If you can't seem to put a name to $75K of solicitations from up to 12 donors, then it becomes so much more difficult, if not impossible, to reach your goal of $150K.
Why is this?
Donors intuitively know - according to your $ funding goal - what donation level they fit into.
So if you can’t get the bigger guys to be giving at their appropriate level, it’s unlikely to get the less big guys to give at their level and so on.
The 'Half from 12' tool may force you to make more substantial asks than you feel comfortable with from your top people.
Challenging as it is, you may have no choice. Better to ask appropriately early on than to come back later in a hole with no way out.
B'Hatzlacha raba raba,