Return on Investment for Nonprofits
What type of return are you getting on your fundraising spending? Are you tracking your dollars spent through to understand if you should be continuing your activities? Every nonprofit is using direct mail, is that your best return? Are you using Facebook, Linkedin, Instagram and Twitter beyond organized giving days like #GivingTuesday? If you’re not, why are you not considering alternatives? There are good returns to be had from social media. One good way to think of it is touch points. It often takes 5-6 touch points to convert someone to becoming a member, you have direct mail, you are speaking at events, social media needs to be a part of that group. You also need to use social media with a call to action, typically nonprofits are only using it for mission driven statements and imagery, if you’re not telling your followers what you need you are missing your opportunity. The other benefit to social media is you are making it simple, if you get a mailer you have to go find your check book, credit card or computer to make a payment, with social media you click through to the right page and make your payment quickly and easily.
Knowing what it costs you to acquire a new member/donor is critical for budgeting for your future, but it’s also critical for you to minimize your spending and maximizing your return. When we work with clients we dig in to understand what you’ve been doing to succeed, but also where there is opportunity. We use data analytics to measure and improve your future returns. This work allows for you to continue your daily efforts while getting a better return on your dollars spent. As a nonprofit you need to be spending your time focused on your mission, let us help you do it better.