Mid-Year Fundraising Check-In: Are You on Track to Reach Your 2024 Goals?
As we reach the mid-point of the year, it's an ideal time for organisations to pause and reflect on their fundraising and donor engagement endeavours. A mid-year check-in can help you to assess progress, identify areas for improvement, and adjust strategies to ensure that you meet your funding goals, in order to maximise your social impact!
While it might seem laborious at first, this process is a wonderful opportunity to shine a light on where to focus your time and energy during the second half of the year. In case you’re not sure where to start, we’ve put together a comprehensive guide that will support you in conducting an effective mid-year fundraising review (don’t skip number six!).
Steps to Conduct an Effective Mid-Year Fundraising Review:
1. Gather Your Key Documents
Collect all necessary documents that provide insight into your organisation’s performance. This might include strategic plans, performance reports, financial statements, and feedback from staff and stakeholders. Having this information on hand will provide a solid foundation that will ensure a simple and thorough review.
2. Review Your 2024 Fundraising Goals & Analyse your Fundraising Data
Start by revisiting the goals you set at the beginning of the year. Are you on track to meet them? Consider both quantitative goals (such as the amount of money raised and donors acquired and retained) and qualitative goals (such as donors’ experiences and perspectives - talk to your donors and ask them how they’re feeling about their giving!).
Questions to ask:
How does your current fundraising total compare to this time last year?
How close are you to reaching your annual fundraising target?
Are your donor acquisition and retention rates meeting expectations?
What is the breakdown of contributions from different donor groups (individuals, corporates, trusts & foundations, etc.)?
Are there any patterns/trends you can identify?
3. Learn From Your Donors
Donor feedback is invaluable, providing insights into donor satisfaction and areas where you can improve your stewardship practices. If time and resources allow, consider sending out surveys to your donors to gather their thoughts on your campaigns and communications, Another simple way to gather feedback is to take the time to analyse your engagement metrics from emails, social media, and events. Finally - you can always pick up the phone and talk to your donors. Don’t underestimate the power of a casual phone check-in.
4. Readjust as Needed
Based on your review, make any necessary adjustments to your fundraising plan for the rest of the year. This might involve refining your strategies, reallocating resources, or setting new targets.
Questions to ask:
Do you need to readjust your goals for the year?
Are resources allocated optimally?
What needs to happen to reach your goals?
5. Plan for Year-End Fundraising
The second half of the year, especially the last quarter, is crucial for fundraising. Start planning now to ensure you’re ready to capitalise on the Christmas period.
Key considerations:
Decide on themes and messages for your year-end campaigns.
Plan your communication timeline.
Schedule and start organising any year-end fundraising events.
Check out last year’s OKC Insights piece on Impactful Year-End Fundraising.
6. Celebrate Your Successes
Finally, take the time to celebrate the successes you’ve achieved so far! Recognise both the hard work of your team and the generosity of your donors. You might hold a team meeting to acknowledge everyone’s efforts, send thank-you notes or call your donors to express your gratitude and share their impact, and share success stories with your community through newsletters, social media and your website.
Remember - no matter where you are with your fundraising, even if you think you’re behind, with six months remaining in the year, you have plenty of time to readjust and set ambitious yet achievable goals. Here’s to a successful second half of the year!
If you’d like support reaching your 2024 fundraising goals, OKC is here to help. Please don’t hesitate to reach out to have a conversation about how we can work together.