A Big Fundraising Event Isn’t a Plan
I served a client once whose plan was to hope that their once-a-year big bash event yielded the funds they needed to operate. They wouldn’t say this, of course. But that’s what they were doing. They were betting the farm every year.
No amount of “projections,” predictions based on past experience, can give you any assurance with a revenue-generating event. They’re amazingly fickle. An off theme. A slight change of venue. A competing event. An unexpected economic shift. It doesn’t take much to throw off any predictions you may make. Even substantially.
Big bash events can be profitable. They can even be fun. Although I know lots of nonprofit folks who will disagree with me on that score. But one thing’s for sure: An event isn’t a fundraising “plan.” Only part of a plan, at best.
Planning involves strategy, integration and long-term direction. Sustained and growing revenue requires high levels of donor loyalty and renewal. Someone who comes to your event and buys a premium is not “loyal” to your organization. They’re loyal to the good time you provided and the premium you happened to have that flipped their switch. They might even be repeat attenders. But don’t look for their giving to ever increase. They’re set. They know what they want to spend for a nice evening out.
If you’re at a loss of how you can achieve high levels of revenue security and growth, we can help you.
Larry believes in the power of relationships and the power of philanthropy to create a better place and transform lives.
Larry is the founder of The Eight Principles. His mission is to give nonprofits and philanthropists alike the opportunity to achieve their shared visions. With more than 25 years of experience in charitable fundraising and philanthropy, Larry knows that financial sustainability and scalability is possible for any nonprofit organization or charitable cause and is dependent on neither size nor resources but instead with the commitment to create a shared vision.
Larry is the author of the award-wining book, "The Eight Principles of Sustainable Fundraising." He is the Association of Fundraising Professionals' 2010 Outstanding Development Executive and has ranked in the Top 15 Fundraising Consultants in the United States by the Wall Street Business Network.
Larry is the creator of the revolutionary online fundraising training platform, The Oracle League.
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