The Dos and Don'ts of Event Fundraising for Nonprofits
If you've been following PRIDE for any amount of time, you probably know we don't love fundraising events as a primary fundraising strategy. The data suggest they are simply not as effective as other methods, BUT that doesn't mean we should not try to optimize them as best we can. Events can sometimes be a great way for nonprofits to engage supporters and raise a little money along the way. Whether it's a gala, auction, or walkathon, events offer a unique opportunity to connect with donors and build community. Again though, event fundraising can be complex, and nonprofits need to be mindful of the dos and don'ts of fundraising events. In this blog, we will discuss the dos and don'ts of event fundraising for nonprofits.
The Dos:
Set Clear Goals: Before planning an event, it's essential to set clear goals. What are you hoping to achieve with the event? How much money do you want to raise? How many new donors do you want to capture? Do you want to upsell existing donors? By setting clear goals around the dollar amount AND other metrics, you can create a roadmap for your event and ensure that you are on track to meet your objectives.
Plan Early: Like...a year in advance early. Event planning can be time-consuming, so it's essential to start early. Ideally, you should start planning your event at least six months in advance, a year is better. This will give you enough time to secure a venue, recruit volunteers, and promote the event without disrupting your other fundraising responsibilities.
Utilize Volunteers: Volunteers can be a valuable asset when planning an event. They can help with everything from registration to decorations to cleanup. By recruiting a team of volunteers, you can ensure that your event runs smoothly and that attendees have a positive experience. Don't put the whole process on your paid staff, it's just too much time unless you have a full-time event planner.
Promote Your Event: Promotion is key when it comes to event fundraising. Use social media, email, and your nonprofit's website to promote your event and encourage people to attend. You can also reach out to local media outlets to see if they are interested in covering your event. It will only be as effective as the volume and quality of people who attend.
Say Thank You: After the event, be sure to thank everyone who helped make it a success. This includes volunteers, sponsors, and attendees. Sending a personalized thank you note or email is a great way to show your appreciation and build relationships with supporters. Follow-ups are where we can raise the REAL money with events. The event is the touchpoint, but we have to build the relationships and not see it as a one-off connection point.
The Don'ts:
Overlook Logistics: Logistics are essential when it comes to event fundraising. Be sure to consider factors such as parking, accessibility, and restrictions on food and beverage options. These details can make or break the attendee experience and impact your fundraising results.
Forget About the Budget: It's essential to create a budget for your event and stick to it. Don't overspend on unnecessary expenses and be sure to factor in unexpected costs. Keeping track of your budget will help ensure that you meet your fundraising goals. Spending "a little more" rarely results in raising more, and can hurt the net dollars at the event.
Neglect Follow-Up: Reiterating this point because it is so important. Following up with attendees after the event is crucial. Be sure to thank them for attending and provide them with a recap of the event's success. You can also use this opportunity to encourage them to make a donation or get more involved with your nonprofit. Only raised $10,000 after 3 months of planning? Call every attendee, invite them to a lunch, and ask them all for a personal gift to make that event worth it and drastically improve your net profit.
Rely Too Heavily on the Event: Event fundraising is just one aspect of nonprofit fundraising. Don't rely too heavily on events to raise all of your funds. Instead, focus on building long-term relationships with donors and supporters.
Forget to Have Fun: Events should be enjoyable for attendees, volunteers, and staff. Don't get too caught up in the details and forget to have fun. Simple is almost always better, your mission is important, and an upbeat attitude can go a long way in creating a successful event.
Event fundraising can be a powerful way for nonprofits to raise funds and build community. By following the dos and don'ts of event fundraising, you can ensure that your events are successful and achieve your fundraising goals. By planning early, recruiting volunteers, promoting your event, and saying thank you, you can create a positive experience for attendees and build relationships with supporters. Just don't forget that follow up!
Still have questions f on how to optimize your fundraising events? Reach out to us directly and we would be happy to chat about your specific situation.
