We were thrilled to recently have the opportunity to write a post for Network for Good’s awesome NonProfit Marketing Blog. The post, 5 Fundraising Metrics Worth Monitoring in Google Analytics, starts by describing the overall way you should approach monitoring your nonprofit’s online fundraising efforts. It then dives into five specific metrics you should measure using Google Analytics.
Below is an excerpt. If you want to read the whole thing, there’s a link below.
5 Fundraising Metrics Worth Monitoring in Google Analytics
Data can be daunting. Not only can the idea of delving into numbers be intimidating, but there are also a ton of terms you need to wrap your head around before anything makes much sense. And even after you have a grasp of the terminology it’s tough to know where to start.
When it comes to measuring your nonprofit’s online fundraising efforts, it’s easy (and common) to get lost, floating amidst the sea of data available.
What data matters the most? And how do you find it? While there’s not a one-size-fits-all answer, there is a common starting point.
Everything Centers Around Online Profit
The first key when measuring online fundraising is a sound mindset. Instead of giving every metric equal weight, remember:
All the decisions you make with regards to online
fundraising center around online profit.
That’s the bottom line. If fundraising is one of your website goals, online profit should be your primary concern when measuring online fundraising. The metrics outlined below don’t matter in their own right. They only matter insofar as they ultimately lead to more overall dollars for your organization.
Total profit from online giving is the metric that should keep you up at night. It’s the one that you should celebrate first and foremost when reviewing your website data. It’s the one that should determine if your website is a success (again, assuming boosting donations is one of your primary website goals).
But profit isn’t easily tracked in most analytics tools since most tools are unaware of your expenses. So while you need to be mindful of your expenses, when using your analytics tool you’ll likely focus on revenue instead of profit.
Become consumed with driving up your online revenue. Then, use the metrics below to determine how you actually make that happen.
How to Configure Google Analytics
Before diving into the metrics, it’s worth noting that while we’re using Google Analytics here, you can likely measure similar metrics with whatever analytics tool you’re using. If you’re using a system outside of your website to accept donations, you should check out what analytics and reporting they have available.
Read the Full Post
Like what you’ve read so far? You can read the whole post on the NonProfit Marketing Blog.
Image courtesy of Gavin Brogan