With the rise of online fundraising, higher education institutions have quickly begun to implement giving days as a key component of their fundraising programs.
Imagine: A single a day where the entire community of your institutions’ alumni, students, faculty and other constituents comes together to participate in an exciting, friendly competition to raise the most money internally between graduating classes, units, student groups and more.
What exactly is it that makes giving days so compelling to an institution? For starters, they help constituent engagement reach new heights and generate a significant amount of funds in as little as 24 hours. Below are 5 more reasons why giving days are so effective in the higher education realm:
1. They Raise More Money, and Grow Year Over Year
For its second annual giving day, Purdue University shattered giving records, raising an incredible $13.7 million – nearly double the amount raised during its inaugural event. Its event featured 23 different hourly challenges with cash prizes – inspiring its donors to give back to their preferred campus, college, school, program or unit.
2. They Attract New Donors
Institutions that have hosted successful Giving Days report they were able to attract significant amounts of new donors. Columbia University acquired 40% new and reactivated donors in its first year and has continued to see impressive year-over-year growth. The event has grown by 88% in the last 4 years.
3. They Increase Alumni Participation
Alumni represent perhaps one of the most important donation sources for Giving Days. Since they tend to be widely distributed geographically, online events are the perfect vehicle to reach and engage with them. Georgetown University used a geography-based model to target the school’s eight largest domestic undergraduate alumni markets, raising $926,856 in 2015 for undergraduate scholarships in its third annual giving day.
4. They Have an Ongoing Effect
After Columbia’s first Giving Day in 2012, major donors were so inspired by its success that they were prompted to give large donations to the University soon after the event. During a Dean’s reception held by Columbia College, one major donor was so excited by the results of the giving day he enthusiastically declared he was going to match the $1.2 million raised by Columbia that day!
5. They Generate Buzz and Excitement
Purdue’s second annual Day of Giving was driven in large part by its social media efforts. The social media impressions tied to its Day of Giving (specifically Twitter, Facebook and Instagram) totaled 19.5 million. It also further enhanced donor relationships by hosting its first “Boiler Bash” with the purpose of thanking students and the Purdue community for their involvement in the giving day.
Are You Ready?
Are you ready to implement a giving day for your institution? We can help you! Kimbia has more experience hosting higher education giving days than any other vendor in the market. Based on our experience we’ve prepared a collection of 21 proven practices to help you carry out a successful event. Ready to get started with Kimbia? Contact our higher education representative Jim Innis today by filling out the form below!