Each Facebook Fan Worth $20 to a Nonprofit: Results from the 2014 Individual Donor Benchmark Report
The following is a guest post from Heather Yandow of Third Space Studio.
Are you engaging social media followers to give? Now is the time to shine a spotlight on this untapped audience and increase your fundraising potential. The key to unlocking fundraising success is just a click away.
Data and Opportunity
The 2014 Individual Donor Benchmark Report analyzed fundraising data of nearly 100 small and mighty nonprofit organizations. The report found that for organizations with budgets under $2 million, individual donations make up a whopping 36% of their annual revenue. And a growing number of those – 17% – come from online sources.
So, how can social media engagement empower your donors and supporters to give?
Grow your network
On average, organizations are generating $17 per email address and $20 per Facebook fan in online revenue. The more social followers you can bring into your social stream, the more opportunities you’ll have to attract and increase individual donations. Your social media audience already supports your organization and regularly reads your content – they’re primed to give. All you have to do is make the fundraising ask!
PRO TIP: Having a fundraising plan is the single best predictor of fundraising success.
If you have a plan, other investments in your fundraising program—more staff, higher paid staff, and more donor meetings—lead to bigger impact. If you don’t have a plan, they don’t matter.
Make a plan
Just as important as it is to create a fundraising plan, it’s just as important to create a social media plan. With a content calendar, it’s easy to remember when and how often you’re reaching your audience with donation messages. Next time you launch a campaign, don’t forget to ask your followers to give a little, or a lot!
Diversify the message
Did you know, on average, adults need to see a message 12 times before they take action? The same goes for your fundraising ask! Test different messages; switch up the time of day; and most importantly, track the performance of each post. By experimenting with your ask, you’ll begin to better understand your audience, identify what’s working, and know how to repeat your success.
Consistency is key
Once, you’ve successfully brought a new donor into the stream, it’s important to keep them engaged with consistent communication. Share updates on your progress with donors and social media followers, tell the latest success stories, and show how continued support is making a difference toward satisfying your mission.
The data proves it: nonprofits can—and should—capitalize on social media. It’s not just a “like” or “share” anymore – social media is a solid investment in cultivating new donors.
Use the Individual Donor Benchmark Report to identify where your organization might focus fundraising energy to increase results. For more individual donor resources and tools to enhance your individual donor fundraising, click here to read the full report.