(Data) Diving into #GivingTuesday
Back in June, we wrote about #GivingTuesday and its impact on increasing donations to crowdfunding platforms. Crowdfunding platforms have a big role in this digital movement as one of the top places to find and connect to worthy personal and charitable causes. Additionally, crowdfunding platforms enable donors to make a contribution faster and easier than ever, increasing #GivingTuesday’s popularity.
The brand new #GivingTuesday Insight Report from July 25, produced by DataKind and the Bill & Melinda Gates Foundation, gives us a deeper understanding about #GivingTuesday from an analytical standpoint. Here are a few findings we’re particularly excited about:
#GivingTuesday is steadily growing and gaining momentum.
Since its inception in 2012, there have been sizeable donation spikes each year during #GivingTuesday. It generates just as much engagement and donations as for a relief campaign after a global natural disaster. Data projections suggest these spikes will continue to increase year after year.
While there seems to be a strong sense of #GivingTuesday loyalty and growth, total philanthropic giving in the United States still hasn’t risen above 2% of GDP. However, even just a 1% increase would have huge impact: almost $4 billion of additional funding would be available to address social issues. The increased donation spikes will certainly contribute to that as time goes on.
In addition, the level of activity and engagement with the #GivingTuesday hashtag continues to grow. Analyzing more than 600,000 tweets, the report showed that influencers (more than 5,000 followers) made up only 17% of the unique users tweeting with the #GivingTuesday hashtag. This goes to show the power and effect #GivingTuesday is having on nonprofits, donors, and their networks and that there is a substantial penetration of the hashtag into a long tail of other users.
The #GivingTuesday Report insights provide the ability to reach and understand donors better.
Since 2012, the average value of individual donation amounts has risen from $160 to $284. Using the data captured from 2015 and 2016, nonprofits can identify several elements that contribute to more effective and successful storytelling to increase the number of donations and average amounts per donation.
In our previous post, we highlighted that images of children did well for storytelling. The new report looks into much more than just images. Analyzing and gathering insights from elements such as text and videos from past successful campaigns can help nonprofits and their supporters improve engagement with potential donors in the future and inspire more individuals to donate. Understanding these findings on structure, content, style of storytelling, and story length can be a useful guide for nonprofits and their supporters to engage audiences about their missions.
The increase in popularity of #GivingTuesday has increased the revenue of nonprofit organizations (and the platforms that host various campaigns) that rely heavily on contributions.
With access to the IRS 990 Tax Form for nonprofits, the DataDive team explored the most recent 2016 tax filings of multiple nonprofit organizations to gain insights about their financial situations and missions and program descriptions.
While some organizations like the Girl Scouts of the USA can generate revenue through the selling of goods, other organizations that focus on natural disaster relief or cancer research and awareness don’t have that ability and rely on donations to increase profits. Crowdfunding businesses serve as platforms that allow contributions to be made to these causes.
The numerous crowdfunding platforms options that promote and support #GivingTuesday, combined with the overall growth of the #GivingTuesday movement, provide a uniquely valuable opportunity to multiple parties: the nonprofit organizations, the philanthropic causes and campaigns, and the crowdfunding platforms themselves.
The learnings uncovered from the recent DataDive, as described by the new report, were so useful and compelling for benefactors that they led to a grant for another DataDive. Scheduled for August 4-6 in Seattle, this new DataDive aims to go deeper than before and include more platforms to produce brand new insights for #GivingTuesday. WePay is looking forward to being an active participant in these discussions.