The 10X Factor in Online Fundraising
Based on new research compiled by Convio, a major provider of software to the global nonprofit world, on December 31 there was a 13 times increase in the number of donations and more than 22 times more funds were raised than daily averages the rest of the year.
- In the last week of the year (from 12/25 – 12/31), Convio clients processed 4.9x the number of donations than they did in an average week.
- The amount raised was an even larger lift (7.7x the amount raised in an average week) indicating that the average gift size was also larger (57% larger).
- In the last week, the top 10% of organization saw >10x increase in number of donations and >15x increase in funds raised.
While every day in the final week of the year (including Christmas) saw an increase in average donations, the last 3 days of the year showed the most dramatic increases:
- 12/29 = 5x donation count and 7.8x in funds raised,
- 12/30 = 7.5x in donation count and 11.5x in funds raised,
- 12/31 = 13.2x in donation count and 22.5x in funds raised).
Bottom line is the last week of the year and in particular the last day of the year is huge for online fundraising. About 90% of organizations take some advantage of this phenomenon with the top third of organizations raising 10x or more in the final week when compared to an average week.
According to Dave Hart, Convio’s CTO: “The 10x lift would be a good target for an end of year fundraising campaign (a solid B grade), and an organization should not stop fundraising until the very end of the year. An A grade for an end of year campaign would be 15x the normal weekly volume raised in the final week of the year.”
Are you ready?