A fundraising thermometer is included on all of our peer-to-peer website templates and can be easily added to any non-profit fundraising campaign. So what exactly is a fundraising thermometer, and what does it do? A fundraising thermometer is used to monitor the progress of funds raised for your online fundraising campaign based on the goals set forth by your organization. By setting clear goals for your fundraiser in the planning stage, your organization provides supporters with an understanding of what you wish to accomplish financially. Showcasing a fundraising thermometer on your website demonstrates visually the progress that has been made and how close your group is to reaching the established goal.
How Does a Fundraising Thermometer Work?
A thermometer is a great way to chart a fundraising campaign’s progress. First and foremost a thermometer is a universal symbol that everyone can understand. As you raise money, the temperature of your fundraising campaign increases and the level of the thermometer rises. Pretty simple. You track progress based on a financial goal and the thermometer rises and shows the money raised and the percentage of the goal attainment reached. So if your organization’s walk-a-thon fundraising goal is $50,000 and you have raised $25,000, your thermometer will show 50% of the goal has been reached.
But how do you determine your fundraising goal? Each organization and event is different, but keep the following in mind:
- You will want to determine a realistic, but optimistic goal. Nothing dampens the spirit more than seeing a goal that is completely out of reach.
- For this reason, you can set a goal at the beginning of the campaign and later increase that goal. Don’t do this too many times, but goals can be adjusted, as needed.
- If you have hosted the event previously, you’ll have a good idea of what you might raise. Add 10% on to last year’s revenues – and much more for peer-to-peer events that are moving online for the first time.
- If you are hosting an event for the first time, it’s best to set a modest fundraising goal. Look to other similar events in your community and your supporter base.
- How many participants do you expect and how much can they raise for your organization? Will you charge registration fees?
- How strong is your online and social media presence? Fundraising thermometers and leaderboards are strong motivators when shared socially.
Utilizing Peer-to-Peer Fundraising Software
Fundraising thermometers are an essential part of non-profit peer-to-peer and crowdfunding campaigns. With a customizable platform like our crowdfunding websites, event administrators are able to establish overall, team and individual fundraising goals and track on-going goal progress. Implement our fundraising software for your fundraising campaign to help participants easily register and collect donations and pledges for your organization. Administrators and others will be able to easily monitor participant and team fundraising progress. As each participant registers, they are asked to create a personal fundraising page where they direct potential donors to make online donations. As these donations are made, they are automatically calculated into the software system and will be tabulated as a portion of total funds raised. If participants receive cash or check donations, they can easily enter these amounts into the system so they also count towards the total goal and fundraising thermometer. A fundraising thermometer on the campaign website will automatically go up as online donations are entered from all participants. This system also allows organizers to track participants’ progress against one another. They may choose to highlight top performers, giving others incentive to step-up their efforts in order to gain recognition or prizes.
Where Should I Use Fundraising Thermometers?
We recommend placing a fundraising thermometer on the home page of your crowdfunding website, to easily share event progress. We also offer leaderboards for top fundraisers and teams on all of our peer-to-peer templates and many organizations like to utilize a Status or Leaderboard page to include all of these items in one place for easy sharing to social media channels. DoJiggy peer-to-peer fundraising websites include an overall fundraising thermometer for the campaign, a team goal thermometer on team fundraising pages, and an individual goal thermometer on personal fundraising pages. Each of these thermometers can motivate your participants and donors, when used the right way. With DoJiggy, you don’t need to create a thermometer image on your own, simply insert our snippet and your thermometer widget appears where you want it.
What Types of Events Use Fundraising Thermometers?
Fundraising thermometers are used on all types of crowdfunding and fundraising events where you want to motivate your participants. Some examples of the most popular crowdfunding events include:
- School Fun Runs
- Color Run fundraisers
- Bike-a-thons or spin-a-thons
- Read-a-thons for schools
- Hit-a-thons and baseball fundraisers
Fundraising Thermometers Can Be Powerful Motivators
A fundraising thermometer is a great tool to implement on your crowdfunding website to motivate your participants and donors. Now that you’ve established the fundraising goals you want to achieve, you must continue to monitor the goals and chart your progress, and remind your supporters to do the same. By tracking your progress, participants can see how close they are to reaching the goals set forth and they may increase their fundraising efforts and try to raise more funds. Associating fundraising goals with planned projects or outcomes will really encourage your supporters to help your organization to reach their goal.
Offering rewards and incentives for accomplishing and exceeding goals can help motivate participants and donors. Say you wish to raise $10,000 and you are at $9,500. Offer a free pizza party for all participants if goals are reached, and communicate “We are almost there!” Sure you’ll spend a little money, but you’ll create excitement and be sure to exceed your goal. Then, to ensure motivation doesn’t top-off at the goal you set, offer additional awards for exceeding goals. For example, for every $1,000 raised above & beyond, raffle off a $25 gift card or free merchandise donated by local businesses, sponsors and partners. The fundraising thermometer can also help motivate donors to contribute more to help bridge the gap between current progress and the established goal. You may also want to consider offering incentives for donors such as providing them with recognition, thank-you plaques or other incentive items for donating at certain levels.