18 Sep 2019 | Fundraising
Funding for the arts is always in short supply, forcing arts organisations to get creative to find more support. It is no surprise that fundraising is a major part of arts organisations’ business strategy. This week as part of our Ticketsolve Campaign Considerations, Conor looks at how data can help forge a strong fundraising strategy to achieve funding goals. We’ll also be taking a look at some key strategies to arts fundraising campaigns.
This week as part of our partnership with Arts Professional, we take a look at fundraising campaigns within the arts, some of the results our customers have experienced through fundraising campaigns, and we are also officially releasing the Ticketsolve Fundraising Whitepaper. Take a look at our recent editorial on Arts Professional— Let's Talk Fundraising Tactics.
Before jumping into the deep end, it’s important to do a quick evaluation of your fundraising opportunities, your donors, and where you stand in terms of industry standards. While there are a myriad of ways in which organisations can tackle their fundraising objectives, the first step to bring your fundraising into focus is to build a solid strategy, which starts with data.
Laying the Foundations for A Solid Fundraising Strategy: Start with Data
Whether you are an expert fundraiser or a novice, benchmarking data is a great place to start. Benchmarking can help you to see where you sit amongst your peers with regard to fundraising. As part of your data analysis, take a look at your own donations data to see where there are opportunities. Looking across the nearly 300 arts organisations which we work with, we have broken down average donations between the UK and Ireland, and segmented our benchmarking between the amount collected in-person, over the phone and online.
What Works When it Comes to Fundraising?
Once you have looked at your data and -(with your team) devised your strategy it is time to talk tactics. Below are some tactics that have worked well for the organisations we work with. These tactics can be used on their own or can be used as part of a campaign e.g., big projects like building refurbishments or smaller projects - or even run in tandem.
Many of the arts organisations we work with have seen the below tactics deliver great results either on their own or as part of a larger campaign.
In our article with Arts Professional, we take a look at four separate strategies around fundraising campaigns. These are;
An online prompt during the booking journey to encourage donations.
Encouraging upselling through gift cards where all profits go directly towards your organisation.
Including a restoration or refurbishment levy in ticket prices.
Offering ongoing friends or membership schemes with various perks (offered during the booking journey).
Head over to Arts Professional to download a copy of the Ticketsolve Fundraising Whitepaper and get started on smart fundraising campaigns with our campaign considerations.