This is the second installment in our 5 Keys to a Winning Giving Tuesday Strategy series (Read our first strategy here).
Matched Donations, An Unmatched Opportunity
Your very first priority in preparing for #GivingTuesday should be to secure matching donations.
Throughout the year, integrating corporate matching into your giving form through platforms like Double the Donation is an effortless way to lift revenue. But for #GivingTuesday, matched funds provide an unparalleled opportunity.
Fundraisers know that creating a sense of urgency is always valuable when it comes to encouraging people to take immediate action. #GivingTuesday’s prominence and 24-hour fundraising period do that well, especially when you turbo-boost the urgency by multiplying donors’ impact with matching funds.
According to Jay Boyd, Director of Development for Alabama Baptist Children’s Homes (ABCH), “The beauty of #GivingTuesday is that it gives development officers the perfect opening to step up a loyal donor to a higher giving level. For our first #GivingTuesday in 2014,” he says, “we asked a committed supporter to match our $2,400-in-24-hours goal.”
Though it was a significant increase (nearly 2.5x) over previous gifts, she immediately said yes and has continued to raise her #GivingTuesday matching support.
“#GivingTuesday gives us a chance to get in front of our donors and ask for bigger gifts. We’ve found they really love it because they know their money is getting others involved. It’s a win-win for everyone.”
ABCH’s Fundraising Results
Though $2,400 felt like a stretch goal that first year, ABCH exceeded that amount by 566%, bringing in almost $17,000. That motivated them to:
- Dedicate more development resources to subsequent #GivingTuesday campaigns and start earlier in the year acquiring commitments for matching funds.
- Raise their matched funds to $24,000 in 2015, $100,000 in 2016 and $125,000 in 2017. This year, their matched goal is $175,000, in order to raise $350,000.
- Heavily promote matching offers.
- Ask donors to step up. At the new high levels, ABCH’s matched funds are no longer provided by a single donor, especially an annual year-end donor who would be giving a large amount any way.
What if you don’t raise enough for the matched funds?
Jay says that most matching donors aren’t strict about giving only the amount matched; many will pledge and donate the full amount as they are loyal supporters of your cause. But it’s always a good idea to clarify the details ahead of time.
The Power of Matching Funds to Motivate Donors
Because it’s so easy for donors to feel that their small donations are just a drop in the bucket to the vast need, they love being able to increase their impact. Matched funds really do motivate donors to give…and to give more:
NEXT UP: #GivingTuesday Key #3 – The Power of Peer-to-Peer Fundraising