Fundraising Metrics That Matter #1: Donor Lifetime Value
What's the difference between reporting and analysis? According to Salesforce, reporting is answering the question, "What is happening?" and analysis is answering the question, "Why is it happening?" (You can read more about it in this blog post. ) While this is a good distinction, I don't think most people are much concerned with this nuance. We all try to answer both of these questions when looking at a report. The natural next step, after figuring out what is happening, is to figure out why.
KNOW YOUR NUMBERS - HIT YOUR GOALS
Topics: Action Strategies, Lapsed Donors, Lapsed, Reactivation, Budgeting, Major Donors, Retention Rate, Trends, Major Donor Pipeline, Fundraising Strategies, Upgrade Strategies, mid-level upgrade, major donor upgrade, New Donor Acquistion, Lifetime Value, Donor Retention, benchmarks, donor upgrading, Retention
Tonight the US President will deliver the State of the Union address.
If you had to stand before a constituency of marketing and fundraising professionals, how would you report on the ‘State of the Fundraising Union’?
Here’s my outline. (please add your own standing ovations and forced tears when needed.)
Right now, many organizations are pulling together year-end numbers to see if they hit their fundraising goals in December.
For many of us, this last week of the year is a time when things slow down. Whether you're traveling for the holidays, taking off a few hours early, or - even if you are working your standard work week - a lot of the world just seems to operate at a warm-up speed, as opposed to full-throttle. This is not the case, however, when it comes to donations. More donations will come in over this last week than at any other time throughout the year. For 2017, nonprofit organizations have a lot riding on just how much of a surge we'll see in year-end donations.
Every Saturday before I head to the grocery store, I write a list of the meals my family will have for the week. This helps me figure out what groceries I need to buy. Planning ahead has its advantages, but it has disadvantages too. If you don’t allow yourself flexibility to adjust the plan once in a while, you can find yourself with some rather disappointing results - and no way in which to change them.