Giving Tuesday vs Giving Day: Which Fundraising Day Best Suits Your Needs?
Your organization would like to participate in a major event fundraiser. The question is: should you take part in Giving Tuesday? Or would it be better for your group to plan a separate Giving Day? Let’s explore the factors you should consider when deciding between Giving Tuesday vs Giving Day.
Giving Tuesday vs Giving Day: Fundraising Factors to Consider
Both Giving Tuesday and designated nonprofit Giving Days hold similarities and differences. To start, both Giving Tuesday and Giving Day are both limited time fundraisers that take place online. The primary goal for both is to collect as many donations as possible within that short period of time. Yet they are as much about raising awareness of good causes as about raising funds. These giving events promote collaboration, encouraging people to come together to benefit the community.
Giving Tuesday vs Giving Day: Which Giving Day Should You Plan For?
A Giving Day can be held on any day of the year. Giving Tuesday (or #GivingTuesday) is a Giving Day, it’s just held on a specific date. Giving Tuesday takes place on the Tuesday after the U.S. Thanksgiving holiday. It was launched in 2012 in partnership between New York’s 92nd Street Y and the United Nations Foundation.
Giving Tuesday is intended to kick off the season of year-end giving. People tend to be feeling grateful after Thanksgiving. Giving Tuesday offers them an opportunity to consider how they can “give back.”
At its core, Giving Tuesday has been described as a “global generosity movement.” Yes, it’s a charitable fundraiser. But it’s also about giving time as a volunteer or sharing talent. It’s about being an advocate or activist. It’s about showing kindness, such as giving a smile or a hug. And it’s also about donating goods in addition to money. The point is that everyone has something to give.
From a fundraising standpoint, the initiative behind Giving Tuesday is to get people excited about giving. The same way they may get excited about holiday bargains. Any Giving Day is best organized and promoted in a way that fosters a similar sentiment as Giving Tuesday. To be most effective, the event should create a sense of community and enthusiasm around a common cause.
The Success and Growth of Both Giving Days
More than 1,400 charities took part in Giving Tuesday in 2012. Since then, Giving Tuesday has become an annual holiday tradition. Over 200 Giving Tuesday movements take place in the United States. And there are Giving Tuesday campaigns in 60 countries. In July 2019, Giving Tuesday even established its own organization.
Giving Tuesday has grown to inspire hundreds of millions of people worldwide to give to good causes. Giving Tuesday efforts have raised more than $511 million online in the United States alone. Nonprofits taking part in Giving Tuesday may even receive matching funds for a portion of their donations. This alone can incentivize donors to contribute.
Giving Days other than Giving Tuesday have also increased in popularity. Hundreds take place in the United States, often in a specific geographic area, such as a state or region. These events typically benefit the member nonprofits of community and civic foundations. And some Giving Day fundraisers are extended to a week or longer so supporters have more time to contribute.
Giving Day in Austin, Texas, for example, raised over $11 million in 2019. A South Central Texas Giving Day pulled in over $4.7 million for 545 participating nonprofits. Several major universities teamed up for a Giving Day last spring and raised over $60 million. Give to Lincoln Day, a Giving Day in Lincoln, Nebraska, broke all records in 2018. The fundraising event brought in more than $4.5 million. New York City’s #NYGivesDay raised $15.7 million in 2017.
The Red Cross holds its own Giving Day in March, as part of Red Cross Month. March 25, 2020 is this year’s official Red Cross Giving Day. However, donations accepted throughout the month will count toward the March 25 goal. Besides raising funds, the Red Cross works to increase awareness of its needs.
Excellent Fundraising Opportunities
Should your organization plan for Giving Tuesday, or a different Giving Day? Any group desiring to raise funds and awareness should consider at least one of these events. Either giving event can benefit a nonprofit organization in a number of ways.
Giving Tuesday is a specific day for contributions. For most organizations, there is room for another special Giving Day. Partnering with foundations especially can be a smart way to bring in dollars with the help of others. Your common mission is to get people to think about charitable giving in a different way. Everyone then benefits.
- Participating in Giving Tuesday and/or Giving Day can increase the visibility of your organization. Having a foundation promote the event will help spread your message far and wide.
- Giving Tuesday or a Giving Day provides an excellent way to reengage with your current donors. This is an opportunity to get your donors excited about your fundraising efforts.
- Equally important, a major fundraising event will put your cause in front of new potential donors. And you’re very likely to add some new (and potentially regular) supporters to your Giving Tuesday list.
- Your group can use the data collected from a Giving Day event to learn more about your best donors. You’re also bound to learn new fundraising kills you can implement during future events.
Don’t look at Giving Tuesday or any other Giving Day as a single event. Think of them as part of a year-long integrated fundraising plan.
Leveraging Wealth Screening to Find Your Best Giving Day Donors
So, whether you choose to participate in Giving Tuesday, a separate Giving Day, or both, a wealth screening can help you identify potential major gift donors. So, what is a wealth screening exactly? A wealth screening is the process of applying wealth insights to a list of contacts to better understand their propensity and capacity to give. In that sense, wealth screening can help you identify your best prospects and donors with accuracy and precision. So, screenings help you find, segment, and prioritize your prospects so you can focus on the right ones.
To do a screening, all you have to do is upload your list of contacts and select the attributes you want to apply to them. We will then screen your contacts accordingly and provide you with new information on those individuals.
When you append your database with wealth attributes, you’ll know who within your list you should reach out to. These insights will also give you an impression of their interests. This will help you create hyper-personalized messages that speak to your donor’s needs and inspire them to give, now and in the future. If anything, screenings give you a good impression of who you should cultivate and nurture relationships with. Especially if they’ve donated to you in the past, but have the ability and the inclination to give even more. This is an opportunity for you to pursue those donors further, and possibly triple or quadruple the value of gifts you receive from them.
The Best Way to Boost Your Giving Day Efforts?
Test drive WealthEngine to find your next best Giving Day prospect! Discover their Propensity to Give (P2G), Estimated Giving Capacity, Connections, and more.
Our Giving Day Series
This is the second blog in our Giving Day series. Read our first blog on the ins and outs of nonprofit giving days and stay tuned for our next blog that discusses how to leverage Giving Days as part of your nonprofit fundraising strategy!