Fundraising events have outgrown other methods of fundraising in the recent past. While they are great money makers for firms, they are also expensive and time-consuming. The success of these events majorly depends on planning. Yes, you should have a detailed plan written down for each event held. Here is an expert guide for effective fundraising.
The fundraising purpose
Before embarking on any fundraising activities, it’s essential to define the primary purpose of the event clearly. Is it primarily a fundraising event? Or is it set to achieve other goals? Perhaps you might raise some money at the event as an organization, but maybe the purpose of the event is to reach out to new networks or even to gain publicity. Stipulating the details for your event will be dependent on the organizations’ goals.
It’s essential to set a targeted amount of money you desire to raise at the event. If the fundraiser intends to raise money sorely, then everything should be geared up to increase the proposed amount. The amount chosen should be the net amount, that is, what remains after all the expenses are deducted.
Is it a general fundraiser where anyone can attend? Are you targeting a particular group of people? You must decide who to invite to your event. If the event is targeting business people, then be sure to include more successful business persons in your list.
Every fundraising plan should have a budget of all the expenses to be incurred from space renting, catering, security, transportation to entertainment and invitation costs. Your budget should fit the fundraising goals to ensure that the amount raised is above the expenses. Be sure to leave room for unforeseen expenses in your budget.
Just like a fresh product in the market, you must aggressively market your event to your target audience. Draw up a marketing plan for your fundraising event. You can use mailed invitations, word of mouth, the event host committee or even phone banks. These are the most appropriate ways of getting the “word out.”
The fundraiser will not be a one mans’ show. It’s important to remind everyone who will be working in the even early enough. If you intend to have a large event, it’s essential to have your staff practice ahead of the function to ensure everything runs smoothly on the D-day.
These are some of the best tips to use to make your fundraiser a success. Once the fundraiser is over, and all your financial needs have been met, remember to send thank you notes as a sign of appreciation for every members’ contribution. This will make them feel like a part of your company and ready to help again when called upon to do so.