5 ways to raise more money this year
As an independent school advancement professional, one of your key responsibilities is to raise funds to support the school's mission and programs. One effective way to do this is by tracking your fundraising progress using key performance indicators (KPIs).
KPIs are metrics that help you measure and track specific aspects of your fundraising efforts. By monitoring these metrics, you can identify areas of strength and weakness, and make data-driven decisions to improve your fundraising results.
Here are a few examples of fundraising KPIs that can be particularly useful for independent school advancement professionals:
- Total dollars raised: This is one of the most basic fundraising KPIs, and it's essential for tracking your overall progress. By monitoring this metric, you can see how much money you've raised over a specific period of time, and make adjustments to your strategies as needed.
- Number of donors: Another key metric to track is the number of donors your school is attracting. By monitoring this metric, you can identify patterns in donor behavior and see how your school's donor base is growing over time.
- Retention rate: The retention rate is the percentage of donors who give to your school in consecutive years. This metric can help you understand the effectiveness of your stewardship and retention strategies.
- Gift size: Tracking the average gift size can provide insights on how much donors are willing to give and identify potential major donors.
- Cost per dollar raised: This metric helps you to understand how much it costs your school to raise a dollar. By tracking this metric, you can identify areas where you can reduce costs and increase the efficiency of your fundraising efforts.
By tracking these and other fundraising KPIs, you can gain valuable insights into your fundraising progress and make data-driven decisions to improve your results. By utilizing KPIs, you can better understand your donor base and tailor your strategies to increase fundraising success.
In conclusion, tracking fundraising progress with KPIs is a powerful tool that can help independent school advancement professionals raise more money by providing insights on their fundraising efforts, identifying areas of success and improvement, and making data-driven decisions.
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