The affect of matching reward applications on nonprofit organizations is plain. Current matching reward reviews point out that 84% of donors usually tend to donate if a match is obtainable, whereas 1 in 3 would give a bigger reward if matching is utilized.
However if you would like to check out the precise methods company matching advantages your establishment—and have the info it’s essential justify investing in office giving additional—a good matching reward reporting technique is important.
At its core, matching reward reporting includes the systematic monitoring and evaluation of metrics associated to your group’s matching reward fundraising efforts.
This knowledge can embody varied features, from the variety of match-eligible donors recognized to the entire income collected by way of the applications and past.
And on this information, we’ll stroll you thru the whole lot it’s essential know to start profiting from your matching reward metrics. This consists of:
Able to get reporting? Let’s dive in with the fundamentals of why matching reward metrics matter within the first place.
The Essential Worth of Matching Reward Reporting
In accordance with analysis from Nonprofits Supply, 73% of corporations aspire to be data-driven of their fundraising efforts—however solely 29% of corporations really succeed at turning knowledge into motion. In relation to your nonprofit’s matching presents initiatives, you need to guarantee your group falls into the latter class.
In spite of everything, a data-driven fundraising technique knowledgeable by your group’s matching reward metrics can go a good distance in empowering your group to raised…
Analyze donor behaviors and determine rising traits- Predict future matching reward fundraising outcomes
- Goal initiatives in response to segmented teams
- Optimize communication channels for engagement
- Measure the affect of your matching reward campaigns
- Observe matching reward success yr over yr
- Set up sensible fundraising objectives
- And extra!
So in case your group is accepting matching presents with out gathering and analyzing the info every transaction produces, you’re probably lacking out on a ton of beneficial insights.
Monitoring Matching Presents By the Conversion Funnel
Of all of the donations a corporation receives, solely a small portion (roughly 1.31% at a median nonprofit) are sometimes matched by the donors’ employers. However round ten occasions that quantity typically qualifies for company matching alternatives.
To be able to uncover the place the discrepancy is available in, you’ll need to have a system in place for monitoring matches as they progress by way of the matching reward course of.
At any time limit, it is best to have the ability to decide what number of presents are at every stage within the conversion funnel—and people totals are a few of your easiest matching reward metrics, to start with!
Whole Particular person Donations
First off, understanding what number of whole donations your nonprofit receives on a month-to-month, quarterly, and yearly foundation will assist your group going ahead. When you may have a sign of your common donation movement, you’ll be higher ready to measure your matching reward success proportionally.
Whole Donations Flagged as Match Eligible
Out of the donations that you just’ve already obtained, you would possibly know which firms your donors work for primarily based on the employment data you accumulate throughout the giving course of.
Use this knowledge to find out which of your donors are eligible to have their donations matched—both by conducting handbook analysis or by scanning your data towards a matching reward database like Double the Donation.
Whereas it’s unlikely that all of your matching-gift-eligible donors are doubling their donations, your nonprofit can profit by understanding what share of your whole donations have the potential to be matched by their employers. And also you’ll know that these are the donors you’ll need to focus your matching reward efforts on!
Whole Matching Presents Submitted
When you would possibly need to bounce into measuring the matching presents your nonprofit receives, it’s worthwhile to first decide what number of requests your donors are literally submitting.
Sadly, you would possibly discover that you just aren’t getting all the matched donations that your donors are requesting.
This hole might boil all the way down to:
- Matching reward deadlines not being met.
- Donors having beforehand reached their annual maximums.
- Your group falling into an ineligible recipient class.
- Every other company stipulations.
Whereas your nonprofit can’t do a lot to shift the precise matching reward standards that firms arrange, it could possibly enable you regulate your advertising and marketing technique going ahead. For instance, should you see that a lot of your donors’ match submission home windows had been closed by the point your group started pushing to encourage requests, you can also make a be aware to begin driving match submissions instantly after an preliminary reward is made going ahead.
Whole Matching Presents Verified
Earlier than disbursing the cash from an identical reward donation, many firms that supply these applications require that a corporation verifies that it obtained the worker’s preliminary reward within the first place. This sometimes includes logging right into a CSR platform and confirming the transaction.
In case you are solely verifying a portion of the matching reward donations that your donors indicated having submitted, then you may be lacking out massive time. Maintaining observe of this metric might be helpful for filling in these gaps and uncovering “hidden” matches.
Nevertheless, it’s vital to notice that, with the continual growth of the matching reward course of by way of auto-submission and different modern performance, many donations are capable of skip forward of this step with no additional motion wanted.
Whole Matching Presents Obtained
Lastly, this important metric tracks the matching presents you really obtain.
As soon as the corresponding company donation makes its method to your group’s checking account, you possibly can mark it off as “Match Accomplished!”
Prime tip: Upon calculating the entire variety of donations that fall into every of the desired classes, you’ll need to maintain onto this quantity. It is going to be used to calculate different metrics beneath!
8 Matching Reward Metrics Each Nonprofit Ought to Monitor
Past the standing of particular person matching presents, your matching reward coordinator or growth group ought to check out these really helpful metrics as nicely.
Keep in mind: the metrics you determine as your highest precedence will then grow to be your KPIs—or Key Efficiency Indicators—for outlining matching reward success.
Whole Quantity (and Worth) of Matching Presents
The primary matching reward metric represents the mixed depend (and, subsequently, financial worth) of all matching presents obtained inside a selected interval.
When you’ve been monitoring your matches by way of the conversion funnel demonstrated above, this quantity might be comprised of all of the presents that made it to the underside tier. From there, calculate the financial worth by including the sum values of every matched donation.
Ex: Match 1 Worth ($50) + Match 2 Worth ($40) + Match 3 Worth ($200) + Match 4 Worth ($500) + Match 5 Worth ($1,000)…
# of Matching Presents = 5
$ Worth of Matching Presents = $1,790
These figures present an outline of the size of your group’s matching reward participation and the potential affect in your fundraising efforts.
Matching Reward Eligibility Charge
Whereas it’s good to know what number of matching reward donations your nonprofit receives, it’s equally vital to place that quantity into perspective. To take action, your eligibility price gauges the proportion of donors in your database who’re marked as eligible for company matching reward applications by way of their employers.
Calculate this determine by dividing your match-eligible donor depend by the entire variety of particular person donors, then multiply by 100 to obtain your share.
Ex: (Match 1 + Match 2 + Match 3) ÷ (Match 1 + Match 2 + Match 3 + Ineligible Reward 1 + Ineligible Reward 2 + Ineligible Reward 3 + Ineligible Reward 4 + Ineligible Reward 5) = 37.5%
Matching Reward Completion Charge
Subsequent, this metric reveals the proportion of eligible donors who efficiently full the matching reward course of—in the end leading to your group receiving a company match.
To calculate, merely divide the variety of accomplished matches by the entire variety of eligible donors, then multiply by 100.
Ex: (Match 1 + Match 2 + Match 3) ÷ (Eligible Reward 1 + Eligible Reward 2 + Eligible Reward 3 + Eligible Reward 4 + Eligible Reward 5) = 60%
The donors included within the not accomplished aspect of issues symbolize your untapped potential and will help inform your methods to encourage extra donors to leverage matching presents.
Common Matching Reward Quantity
This determine will help quantify the imply worth of the matching reward donations you obtain. And to calculate, you’ll be going again to your Whole Quantity of Matching Presents and Whole Worth of Matching Presents from Step #1—and dividing the latter by the previous.
Ex: $50 + $40 + $200 + $500 + $1,000 (Worth of accomplished matches) ÷ 5 (Variety of accomplished matches) = $358
Understanding the common greenback quantity of an identical reward on your group will help quantify the worth of your matching reward fundraising efforts. Plus, it could possibly present perception into the extent of donors sometimes partaking along with your matching reward program.
For instance, should you introduced in 50 matching presents, however each was solely price round $10, that’s nonetheless an additional $500 on your group. However chances are you’ll want to begin focusing on your bigger givers and encourage them to look into matching reward applications as nicely!
The upper your matching reward common quantity comes out to be, the extra main donors have probably participated of their employers’ match initiatives on your trigger.
Income Enhance As a consequence of Matching Presents
For this metric, your group will decide the rise in whole fundraising income that took place by way of matching presents.
To calculate, start by subtracting the worth of your accomplished matching reward donations out of your whole fundraising income (together with matching presents).
Then, divide your whole matching reward income by the entire income with out matching presents to find out the proportion improve that your fundraising grew.
Ex: Whole fundraising income ($15,000) – Matching reward income ($2,000) = Income with out matching presents ($13,000)
Matching reward income ($2,000) ÷ Income with out matching presents ($13,000) x 100 = 15.4%
This determine quantifies the extra funds raised as a consequence of matching reward applications, emphasizing the affect in your general income—and, thus, your mission.
Matching Reward Retention Charge
Your group’s matching reward retention price is outlined as the proportion of donors who full an identical reward in your behalf in a single yr after which repeat the motion within the subsequent yr.
To calculate this determine, you’ll want to find out the variety of matching reward donors who had their presents matched in the latest time interval that additionally had their presents matched within the interval earlier than. So that you’ll must have been targeted on matching reward reporting for at the very least two years (or different pre-determined time intervals) in an effort to set up this quantity.
To take action, divide the variety of donors who made repeat matching reward contributions by the entire variety of matching reward donors from a earlier interval. Then, multiply by 100.
Ex: Repeat matching presents from this yr (Match 1 + Match 3 + Match 4) ÷ Matching presents from final yr (Match 1 + Match 2 + Match 3 + Match 4 + Match 5) = 60%
Like several retention-focused metric, your matching reward retention price assesses the effectiveness of your methods in retaining donors who take part in matching reward applications yr after yr. Keep in mind: it’s all the time the toughest the primary time round!
Development in Matching Presents Over Time
One other useful determine which you can discover after you’ve been monitoring different matching reward metrics for a while is your price of progress.
You’ll be able to calculate progress in matching presents over time by subtracting the earlier interval’s whole matching reward worth from the present interval’s worth. Divide the outcome by the earlier interval’s worth, then multiply by 100.
Ex: Present interval’s matching reward whole ($3,500) – Earlier interval’s matching reward whole ($2,000) = YOY improve ($1,500)
YOY improve ($2,000) ÷ Earlier interval’s matching reward whole ($2,000) x 100 = 75% YOY progress
Recording this specific metric over time helps your nonprofit see the will increase in matching presents as they relate to your general fundraising. As you get extra established in your advertising and marketing and promotional efforts, your viewers will grow to be extra aware of the chance, and you’ll count on to see your matching reward outcomes proceed to pattern upwards.
Matching Reward Fundraising ROI
Matching presents are a wonderful supply of fundraising income for nonprofits. However, as they are saying, it prices cash to make cash. And although matching presents are primarily free “bonus” donations contributed by donors’ employers to match their very own charitable efforts, it does contain some funding of your group’s time and sources to pursue. Thus, your matching reward fundraising ROI assesses the return on funding on your matching reward efforts.
To calculate, merely subtract the price of managing and selling the chance to your donors from the entire income generated by way of matching presents. Divide the outcome by the preliminary value, then multiply by 100.
Ex: [Revenue generated from matching gifts ($10,000) – Initial cost of matching gift fundraising ($1,000)] ÷ Whole value ($1,000) x 100 = 900%
This determine helps consider the effectivity of your program in producing extra funds and can even assist make the case for investing additional into the income supply—reminiscent of with a devoted software program.
Key Insights Gleaned From Matching Reward Analytics
Analytics takes your knowledge a number of steps additional than primary metrics and may, in flip, present your fundraising group with some notably helpful (and actionable!) findings. Particularly, matching reward analytics is the facet of reporting that assist uncover underlying traits, patterns, and proposals.
To completely unleash your group’s matching reward potential, analyzing the info produced by way of your efforts to glean key insights is important.
We propose exploring the next really helpful benchmarks.
Optimum Match Communication Timing
The timing of your matching reward appeals is vital. In reality, it’s typically the distinction between a donor taking the subsequent steps to submit an identical reward and your e mail going unnoticed of their cluttered inbox.
By paying attention to the occasions when your viewers appears most receptive to matching reward communications, you should utilize the info collected by way of your reporting technique to regulate your timing accordingly.
For instance, research primarily based on Double the Donation knowledge report that matching reward emails despatched anytime inside the primary 24 hours of a donation being made ends in a 53% open price—or 2.6 occasions greater than the common nonprofit e mail open price. However should you discover that your viewers tends to reply notably nicely to match reminders despatched instantly post-donation, be at liberty to set off automated follow-ups inside minutes.
To not point out, monitoring matching reward responses over months and years will help determine longer-term timing methods as nicely.
As an illustration, should you discover that you just obtain extra matching presents after your year-end appeals have been made, check out the matching reward advertising and marketing methods you used main as much as December thirty first. When you aren’t already, implement these ways on your fundraising all yr spherical for better matching reward success.
Matching Reward Conversions by Advertising Channel
Like timing, the communication channels you employ to advertise matching presents to your donors could make an enormous distinction. And focusing your sources the place conversions are highest can improve your means to successfully talk the chance and drive motion.
For instance, should you discover that your e mail click on price is decrease than common, you would possibly need to take one other take a look at the matching reward emails you’re sending. Is it coming out of your nonprofit’s personal area and branded to match your present communications fashion? That’s a should for establishing a way of belief and familiarity along with your supporters.
Then again, should you suspect that your matching reward emails are simply getting misplaced in donors’ inboxes, you would possibly need to discover different messaging channels—like SMS.
Excessive-Worth Match Alternatives in Your Database
An automatic method to matching presents can save your fundraising group a great deal of effort and time. However in relation to a few of your highest-value alternatives, you would possibly need to make a extra customized effort to have interaction about matching presents. So it is best to have a simple method to determine all these gems from inside your donor base!
First, decide what defines a “high-value” matching reward alternative. Maybe it’s a serious donor who works for a corporation with a very excessive annual matching cap. Although it could be a mid-level donor whose employer gives a particularly beneficiant triple—and even quadruple—match.
By figuring out donors whose matching presents can deliver you vital quantities of income, you possibly can prioritize engagement accordingly. You could determine to select up the telephone, ship a handwritten letter, and even meet face-to-face with a few of these high-value matching prospects.
Main Enterprise Affiliations inside Your Community
Much like the standout people in your assist community, you might have a number of firms that match their workers’ presents to your group. Thus, your main enterprise affiliations are the businesses that make use of notably massive segments of your donor base.
This perception will help inform broader partnership-building methods with companies that align along with your mission, even past your typical matching presents. And keep in mind: your donors, who may fit for a number of the most philanthropically-minded firms, might be a few of your best advocates!
Driving Outcomes With Matching Reward Reporting Instruments
Now that you already know what data to trace and the kinds of insights you possibly can pull, what are you able to really do to get began?
When you don’t need to carry out all of the calculations by hand (and belief us: you don’t), equipping your group with the perfect instruments for efficient matching reward reporting is a should. And meaning Double the Donation’s 360MatchPro—the industry-leading matching reward automation platform.
Matching Reward Reporting With 360MatchPro
360MatchPro streamlines your complete matching reward course of by routinely figuring out and triggering customized outreach to eligible donors and monitoring their matches from begin to end.
Alongside the best way, it additionally makes use of your knowledge to research traits, present focused suggestions, and produce user-friendly reviews that current your findings in an easy-to-understand approach.
Pre-built reviews inside the platform embody:
- Prime firms leaderboard with really helpful actions for pursuing broader company giving objectives
- Match-eligible donations leaderboard that shows the match-eligible donations with the best matching reward potential
- “Ripe for the choosing” high alternative view that filters for donors marked as match-eligible with an internet type obtainable however haven’t but submitted their match request
- Repeat matching reward filter that pulls a listing of donors who beforehand had their presents matched however at present have an un-submitted match within the system
- Marketing campaign Comparisons report that simply compares highest-earning time-boxed fundraising campaigns by way of matching reward eligibility
- Missed Matches reviews that spotlight latest transactions which may be match-eligible, regardless of being marked in any other case or disregarded in e mail outreach
- Key statistics, reminiscent of whole emails delivered, open and click on price, match income recognized per thirty days, whole match income recognized, matching reward engagement stage, whole donor occasions, and extra
- Breakdown of present match statuses, together with Ready for Donor, Match Initiated, Pending Fee, Match Full, Unknown Employer, and Ineligible
Moreover, 360MatchPro customers can customise totally different views of their “Donations” tab, selecting to configure lists of latest donations in response to match eligibility, request standing, and extra.
Subsequent Steps
Information produced inside the matching reward course of is one in every of your most beneficial property—however it’s essential have a system in place for monitoring, storing, and analyzing the knowledge you accumulate.
Get along with your group to find out which matching reward metrics finest symbolize your group and its fundraising objectives. Whereas every of the above-mentioned analytics can present invaluable insights as they information and inform your matching reward advertising and marketing initiatives, contemplate centering your reporting technique on one or two factors to get began.
From there, set up a plan to trace acceptable knowledge, conduct an evaluation of the knowledge you’ve gathered, and proceed to regulate your overarching plan as wanted.
Continue learning! Develop your data of all issues matching presents with these extra really helpful sources:
