How to Track and Analyze Crowdfunding Campaign Performance

Crowdfunding has become a game-changer for nonprofits, offering a dynamic way to engage supporters and raise funds from anywhere. But with so many campaigns vying for attention, it’s important for fundraisers to ensure their organization’s campaign stands out, runs smoothly, and results in maximum engagement.

More than 30% of donors contribute to crowdfunding campaigns, demonstrating how popular and convenient digital fundraising is for supporters. With that, we recommend that your team focuses not only on ways to mobilize supporters to boost donations but also on key metrics to track and analyze your crowdfunding efforts. This will allow your team to enhance your development strategies over time as more donors participate. 

This guide will help fundraisers identify key metrics to track and analyze when running an online crowdfunding campaign to ensure maximum performance. 

Step 1: Build a crowdfunding community

With the availability of online crowdfunding, individuals, families, and teams have been able to rally their networks to support their favorite causes. Recent data shows that people really enjoy coming together to help others! More than 40% of donors have made a contribution to an online crowdfunding campaign to support other individuals who are in need.

What’s unique about crowdfunding compared to other fundraising methods, is that it’s not just about raising money, it’s about building a community around your cause. By leveraging the reporting capabilities of your nonprofit software (often called a “CRM”), you can transform data into insights that drive engagement, boost donations, and cultivate lasting relationships with supporters so that they fundraise now and in the future.

Pro tip: The first step to a successful crowdfunding initiative is an engaged donor base. Try these tips to motivate fundraisers to achieve your crowdfunding campaign goals, or check out our donor engagement hub for resources and tools.

Step 2: Track and measure crowdfunding metrics

To optimize your campaigns, focus on these key performance indicators (KPIs):

• Conversion rate: This figure demonstrates the effectiveness of your fundraising tools and appeals – it’s the percentage of page visitors who donate or sign up to fundraise.
• Average contribution: This figure helps tailor your ask amounts and giving levels on your donation forms. On average, donors make a gift of $66 to crowdfunding campaigns. Of course, this will vary by organization and campaign.
• Fundraiser acquisition: This number reflects how many supporters created peer-to-peer campaigns.
• Social shares: By tracking how many people shared your social media posts, you can measure your campaign’s potential to spread beyond your immediate network.
• Donor retention: In the context of a crowdfunding campaign, your donor retention rate tracks repeat giving from crowdfunding participants.

Pro tip: Fundraising systems like DonorPerfect CRM allow you to create analytics dashboards. You can create a dedicated crowdfunding dashboard to monitor your KPIs in real time!

Step 3: Optimize your crowdfunding strategy with insights

Armed with donor data and insights from your nonprofit CRM, you can fine-tune your crowdfunding approach. For instance, you can personalize your donor appeals based on donor giving history and giving levels. 

Another strategy is to identify and support your most effective peer-to-peer fundraisers. They can coach others on how to increase their fundraising results. Be sure your campaign pages are easy to navigate with simple steps for users and that your campaign is easily shareable on social media so donors can help spread the word.

Step 4: Leverage CRM reporting functions

Your CRM is more than just a database; it’s your crowdfunding command center. Here’s how to maximize its potential:

1. Donor segmentation: Analyze how different groups respond to your crowdfunding appeals. Are first-time donors more likely to give through crowdfunding? Do major donors prefer traditional channels?
2. Campaign timing analysis: Use time-based reports to identify peak donation periods. This can inform when to launch campaigns or send coaching and reminder emails.
3. Multi-channel tracking: Determine which platforms (social media, email, website, text) drive the most traffic and donations to your crowdfunding page.
4. Peer-to-peer insights: If your campaign includes peer-to-peer elements, track which fundraisers are most successful and analyze their strategies.
5. Goal progression visualization: Set up dynamic goal trackers to create urgency and motivate donors as you approach milestones. It is found that a crowdfunding progress meter (thermometer) yields a 35% increase in donations. 

With DonorPerfect, you can invite supporters to give back with engaging online donation forms. This will inspire involvement and allow you to collect valuable data. Create your organization’s crowdfunding forms with custom goals, graphics, and inspirational stories.

By leveraging your CRM’s powerful analytics, you’re not just improving a single campaign – you’re revolutionizing your entire approach to crowdfunding. Each data point offers a chance to better understand and engage your supporters, creating a virtuous cycle of increased participation and giving. For example, DonorPefect has built-in data analytics tools to help your fundraising team make informed decisions.