On the day of December 31st, 2009 there were 22 times more funds raised than the daily averages the rest of the year.?
Although it was fund raising and not capital raising it shows that when friends, families and fans put their hands in their pocket timing is essential.
- In the last week of the year (from December 25th – December 31st), Convio clients processed 4.9x the number of donations than they did in an average week.
- The amount raised was an even larger lift (7.7x the amount raised in an average week) indicating that the average gift size was also larger (57% larger).
- In the last week, the top 10% of organization saw >10x increase in number of donations and >15x increase in funds raised.
While every day in the final week of the year (including Christmas) saw an increase in average donations, the last 3 days of the year showed the most dramatic increases:
- December 29 = 5x donation count and 7.8x in funds raised,
- December 30 = 7.5x in donation count and 11.5x in funds raised,
- December 31 = 13.2x in donation count and 22.5x in funds raised).
Bottom line is the last week of the year and in particular the last day of the year is huge for online fundraising. About 90% of organizations take some advantage of this phenomenon with the top third of organizations raising 10x or more in the final week when compared to an average week.
When friends, family and fans are the target for capital raising the approach needs to be at the “right time”. By using a capital raising platform like ASSOB, approaches and investor meetings can be planned as part of a capital raising process. Seeds can be sown long before a formal approach is made so it doesn’t come as a surprise. And the right date? For some it may be Christmas! All depends on what time period you have targeted for your own friends, family and fans.