One of the most important parts of putting together a fundraiser is setting an overall goal for how much cash you’re hoping to bring in. Along with being important, though, it can also be really difficult! There are seemingly so many unknowns ahead! So, how can you set goals that are as accurate as possible?
1. Use Stats from Last Year
If your group participated in a fundraising program last year, how much did you make? How far did it go? Were you able to accomplish what you wanted to accomplish with the funds? It’s always a good idea to use historical data to inform your upcoming program.
Also, take into account what your trips, outings, and supplies cost last year. Chances are, it’ll be close to that this year, if not more due to inflation.
Make a spreadsheet of whatever it is you’d like this year’s fundraiser to cover. If it’s a big trip, outline how much it will cost per person, plus more for gear and supplies and miscellaneous expenses. If you have last year’s data, use that! Divide by how many people in your group will be fundraising to find each individual’s fundraising goal.
2. Price Accordingly
Once you’ve got an idea of what each individual’s fundraising goal should be, you can figure out how to price your products accordingly. If you have numbers from previous years, reference those. Once you know how much money each seller needs to make on average, you can figure out how many units each person needs to try to sell.
3. Ask if Big Buyers Are Coming Back
Did you have a really large order last year that you’re thinking will probably happen again this year? Try to find out in advance if that’ll be happening again. For instance, maybe a parent took an order form into work at a large corporation – will that be happening again this year? Or, maybe a hotel chain put in an order for several of their locations last year – do you have a contact there that you can ask about this year?
4. Create a Fundraising Goal Statement
Your nonprofit has a mission statement, but do you have one specific to your fundraisers? Studies have shown that when goals are written down, they’re more likely to be attained. Create a written fundraising goal statement that reflects the overall mission of your organization but addresses the unique challenges of that year’s fundraiser. How much money do you plan to raise? What will your organization do with the money? By specifically stating the purpose of the fundraiser, members will remember the ultimate reason for their efforts on an ongoing basis.
5. Create a Timeline
Because the holiday season can be so hectic, it can help to create a timeline for your efforts. This breaks the work into smaller, more manageable chunks, allowing coordinators to set up milestones that help them stay on track throughout the season. Milestones give organizations a deadline for recruiting and training volunteers, creating and distributing print materials, hiring caterers for events, and similar tasks. Team members can review those milestones and extract the items they’re responsible for completing, letting them know if a deadline is approaching well in advance.
6. Focus on Building Awareness
As fulfilling as a successful fundraiser is, there is a long-term goal, as well. Whether this is the first year your organization has sold wreaths or you’ve done so for multiple years, each fundraising season is a great opportunity to build awareness throughout your community. Someone who doesn’t participate in your campaign this year may learn about your wreaths this year and purchase one next year. As you promote your fundraiser on social media, in print materials, and at local events, don’t lose sight of the long-term value of the marketing you’re doing.
As you prepare for this year’s wreath fundraiser, goals can make a big difference in your success. Team members and volunteers should be consistently reminded of these goals not only so they remain on track, but also to keep them focused on the ultimate goal of the funds raised. As fulfilling as it feels to sell wreaths and raise funds, being able to put those funds to use is the biggest motivator for nonprofit fundraising teams.
Once you’ve completed these steps, you’ll be able to set an accurate fundraising goal for this year! Good luck, and have fun!
