Issue 25: North Star

Do you have a set of North Star metrics?

These may be considered Key Performance Indicators, but I’d like to think of this as something even more aligned with how you’ll guide your growth and move beyond simple profit and loss reports.??

For example, you may establish that a North Star Metric is the engagement percentage of your supporter base, regardless of monetary contributions. This helps drive a different set of focus points than simply establishing a financial goal.

Too often, I ask nonprofit leaders to outline their goals and dreams and we begin with the money. I think that’s reducing the issue to something that anyone can do - instead, what are the key things you can track that go beyond the money and drive toward the underlying goal of your generosity experience design goals??

What do YOU think should be considered a North Star metric?

Generosity in Action

We are gearing up for some major changes at the Fundraising Effectiveness Project. As we’ve leaned into our leadership role in the sector, the initiative has grown to include more data providers and increased interest in the findings for both practical usage as well as better understanding of generosity in the sector.?

But there is much more work to be done, and I need your help. If you are a nonprofit leader interested in data, improving the sector’s fundraising effectiveness, and/or getting connected with some pretty awesome people, then I hope you can join us at the Fundraising Effectiveness Project.

Our mission is to provide trusted data insights that enable fundraisers to improve their outcomes. And we envision a sector where actionable data insights guide every fundraiser’s decisions to increase generosity.

If this is a community you’d like to join and support, please fill out this interest form, comment below, or message me directly. The sector and your fellow nonprofiteers will be in your debt.

Tips & Tricks

This is a period of the year when I tend to reflect on what I’ve accomplished and hope to achieve in the remaining six months. I divide tasks up generally into immediate goals or objectives for the coming year or long-term goals within the next five years.?

That long-term thinking is very important right now in our sector. I will be upfront—there are too many people out there ready to complain and throw stones at those trying something new to fix problems. In turn, the tech sector’s constant push toward “move fast and break things” isn’t working either.?

That’s why we need to embrace the two modes of thinking - fast AND slow. If you haven’t read Nobelist Daniel Kahneman’s book Thinking, Fast and Slow then I highly suggest picking it up.

Need a shorter primer? Then check out this article from when the book was first published to get a deeper understanding of how Systems thinking works.?

Data Dive

New year, new complaints about why people don’t think fundraisers should pay attention to Giving USA. The reality is that many different types of industry reports fit different roles. As Barbara O'Reilly, CFRE opined on a recent post criticizing Giving USA:

With generosity showing up in a lot of ways beyond nonprofits, getting a true handle on generosity in the US is more complicated. That's why others like Giving Tuesday's Data Commons, FEP, and other vendor reports are equally as important. But GUSA Report is the largest snapshot of giving trends we can see from publicly available sources in the US.

Last year, I wrote an article about how fundraisers should contextually think about reports like Giving USA, the Fundraising Effectiveness Project, and other well-trafficked resources. Here’s a snippet that focuses on the top five things nonprofit leaders should prioritize when being told to look at a report but a thought leader or their boss:

Every day brings some new data point or insight that you’re expected to act upon. When the latest edition of a big, highly anticipated report like Giving USA drops, trying to read through it all can feel like a second job.

The following tips are for fundraisers who are overworked but need to understand the importance of sector research in their work.

• Prioritize what is important to you: A newly-published report does not automatically demand your attention, no matter how much it is being discussed on social media. Figure out what you deem important for your organization’s? goals and focus on research relating to that.
• Clearly define how you want to use any research you come across: Categorizing something as a trends report for strategy versus a tactical report for everyday usage is a good first step, but you should define clear objectives you’re trying to reach.
• Use authoritative research citations: If you are trying to make a business case for a new initiative or to justify a pivot in your strategy, ensure that you provide proper sources and context when presenting research.
• Books are great report summarizers: Besides sector reports, there have been some excellent books like The Generosity Crisis or Philanthropy Revolution that bring together many different research insights into a cohesive narrative. If you are in need of a more engaging summary, a book may be a better way to get practical understanding of all the research at hand.
• Listen to trusted advisors: If you trust the perspectives of specific companies or individuals, look to them if you want an interpretation of the research to assist with your own thinking.

Community Spotlight

I recently was named one of Athletic Brewing’s Ambassadors, which has been a goal of mine since I fell in love with them two years ago.?

The outpouring of support from you folks has been amazing. And there are opportunities to partner here! By directly working with me or routing you to the right contacts at the company, I can help make your next networking or conference experience more inclusive (and tasty!) by offering attendees a fantastic non-alcoholic brew.?

Let me know if you want to talk about partnering up on events. If you want to try them out, here’s my referral link.

Upcoming Events

How Can Data Turn Dreams Into Reality?

July 22 2024, 2024 | 3:00 PM ET

Dream Big Summit is coming the week of July 22, kicking off with a special episode of Generosity Experience Live with Dana Snyder and Kirah Smith. This is going to be one of the most fun virtual educational learning experiences we’ve put together, so get your spot today!

RSVP

Dream Big Summit

July 23 - 26, 2024 | 3:00 PM ET

Dream Big Summit will feature four days of sessions to help you master the magic of generosity. Transform your team and inspire your community. Register today and get a chance to win prizes and network with fellow nonprofit leaders.?

RSVP

Giving Black Conference

August 1, 2024 | 9:30 AM ET

Join us at The Giving Black Conference 2024 as we honor Black Philanthropy Month and Emancipation Day. This inspiring conference brings together diverse change makers and culture shifters. Don't miss this opportunity to connect, learn, and be inspired! Thrilled to be working with Mide Akerewusi, B.Sc., M.Sc. (Econ), CSR-P, CDEP. on this one.

Register

Brandfluence 2024

August 21, 2024 | 12:00 PM ET

Join us for the first of its kind one-day summit designed exclusively for nonprofits and social impact businesses. Empower your brand to raise more money and drive more meaningful change in your communities. Thrilled to be working with Taylor Wilson on this one.

Register

Monthly Giving Summit

September 5-6, 2024? 1:00 PM ET

Join Dana Snyder as she puts on THE virtual event experience dedicated to helping nonprofits build subscriptions for good. Thrilled to be working with Dana Snyder for this one.

Register

Final Thoughts

I think folks may sometimes struggle with choosing something like a KPI to focus on because they may lack confidence in either the data itself or the individuals who hope to interact with it.?

This was reflected in the handful of responses to my poll earlier this week, which not surprisingly boiled down to folks feeling they need to establish that initial data culture (which tends to be harder with folks untrained in data) or the confidence in results (which may be related to how data is managed).?

Data is the electronic representation of human relationships, nothing more. We should remind ourselves that every time we see something in our database, it represents people's behaviors or motivations, which might make it a bit easier to shift our perspective on what matters.?

Ultimately, people are driven to have their voices heard, their contributions seen, and their passions felt.?

If we’re going to solve anything in the nonprofit sector, starting with that simple premise is a good starting point.?

Puzzle of the Week