Determining the goal amount for your charity fundraiser is one of the first and most important steps you will take in setting up a successful fundraiser.
Setting the right goal for your fundraiser can motivate your supporters and drive the story behind the fundraiser, showing exactly how much your charity wishes to make an impact. Deciding on the right goal amount can be tricky, but we’re here to help you break it down.
Setting goal amounts needs planning
If your charity has run an online fundraiser before, take a look at past fundraising successes before you set your goal. Consider reviewing these past goals and seeing if those goals were met. Looking back, is there anything you should have done differently?
If this is your first nonprofit fundraiser, here are a few things to note that will help you with your goal planning.
- Donation conversion rate for a message blast is somewhere between 8-12%
- Roughly 10 donations come out of 100 donors messaged
- The average donation amount to a nonprofit fundraiser is between $50 - $87
- Successful and well planned fundraisers raise an average of $30,000
Set a realistic goal
We recommend not setting a goal amount that is too high at the start. Setting a goal that is too high and unrealistic could make donors feel as though the value of their donations are insignificant, and may discourage potential donors from giving again.
We suggest starting with a smaller goal amount that is challenging, but attainable. You can increase the amount at any time if you reach your initial goal sooner than expected or need to raise more funds than originally planned.
Keep donors informed of goal changes
If you do increase your goal amount, be sure to post an update message on your fundraiser to let your supporters know what the extra funds will go towards. Donors feel secure in their giving knowing how much of an impact their contributions make towards the total goal of the fundraiser. Keeping them in the loop will keep the momentum going and prevent any confusion.
Inspire repeat donors
Another important piece to setting your fundraising goal amount is to inspire repeat donors, which can also be referred to as “donor retention”.
Repeat donors are supporters who continue to give to your fundraiser or organization even after their first contribution. On average, less than 30% of donors who give to a fundraiser are repeat, which presents a great opportunity for you to build trust with the percentage of donors who are not.
How do you build trust with those donors?
By creating transparency with your fundraiser goal amounts through updates and reaching out to thank them for their support. A lot of work is put in to get a donor to support, but working to keep the donor’s support is just as important.