Do you know your giving trends?
One new trend in the stewardship industry is helping churches know how to use data to improve giving. I am happy my industry is catching on to what we have been doing for 19 1/2 years! There are few people in my industry that have looked at detailed giving analysis of churches like I have.
I have personally analyzed giving data from some of the largest churches in America to those running less than 100. Along the way I have learned some things in how to use data to improve giving.
Let me share with you three key reasons why knowing your giving data is so important.
- You can’t adequately plan without knowing your giving trends. I am amazed at how many churches set their budgets without factoring in their giving trends. At the same time I am amazed at how many church leaders are ignorant of their current giving trends. If you don’t know where you are how can you get to where you want to be? So,
- You can’t be fully funded and remain blind to your data. Churches that are fully funded are those that have a giving plan. How can you develop an effective giving plan if you don’t know what groups need to hear the message? Any plan you create is like throwing spaghetti on the wall hoping something will stick. Knowing your trends allows you to plan strategically and have a better chance of actually making budget.
- Fiscal responsibility generates giving. The fiscal responsibility of an institution is one of the key reasons people give. When you set a budget that is unrealistic your donors will be skeptical about how responsible you are with money. They will think twice about each and every gift. Knowing your trends allows you to plan better for the future. Coming close to your budget and better yet making budget builds confidence in your donors. This in turn causes them to give you more.
How important is knowing your giving data? Recently I met with a client church that I am helping with their follow up. When I asked the pastor how the campaign was going he said great. A brief look at his numbers seemed to confirm that the campaign was on pace. They were 77% into the three year giving cycle and had received 80% of the funds. Sounds good, right? Wait there is more to the story.
Our data unearthed a problem that left unchecked would impact the final results. We discovered that of those that had made a pledge had given only 65% of the amount pledged. With only a few months left if those that pledged did not fulfill their pledges we would not exceed our total. So, as a result of data we sent out a positive targeted message to those donors. Three months later we saw those same donors increase their pledge percentage by over 14 points. The church now, with three months left, sits at 98% of the pledged amount already in the barn!
Data made the difference! Do you know right now how your giving is doing compared to the same period last year? Do you know what your giving trends are? Do you know how many donors you lost last year and how many you added? If your answer is no to these questions you could be in trouble. The time to head off trouble is NOW. Knowing your giving data is key to being fully funded.
We can help you know your giving data for both annual giving and any capital campaign giving. Why not let the experts help guide you to being fully funded?
Mark Brooks – The Stewardship Coach