Set Your Fundraising Goals The S.M.A.R.T. Way

By: Mansi

Published On: February 27, 2023

Setting goals - one of the most important factors that decide the fate of a fundraiser! One can’t deny that there are umpteen number of ways through which you can set your medical fundraiser goals. However, in this blog we will talk about the most effective way, the S.M.A.R.T. way to establish your fundraising goals.

S.M.A.R.T. is an acronym for:

Specific

Measurable

Attainable

Relevant

Time-based

The term was first proposed by George T. Doran in the November 1981 issue of Management Review, wherein he suggested that goals should be S.M.A.R.T.

Picture Source: Freepik

This technique, if applied in the right manner, can do wonders for your online fundraising efforts through crowdfunding in India. Let’s learn how:

Specific

IDEA: Your each goal should deal with a specific area of performance.

EXAMPLE: For example, Akshay Vishwanath, a campaigner on ImpactGuru was able to raise funds for his father’s treatment because he shared his story on various social media channels. He did so, so that more and more people could know about his cause. The goal here was to give the fundraiser much needed exposure which has a direct impact on donations.

HOW IT HELPS: This practice will help you with maximum output.

Picture Source: Freepik

Measurable

IDEA: You should be able to track your fundraiser’s progress and measure its success at different points during the journey. This can only be done with the help of measurable goals. Set follow up updates on every goal accordingly.

EXAMPLE: For example, if one starts a fundraiser on ImpactGuru, they are able to keep a check on the raised amount with the help of the goal amount tracker presented on each fundraiser’s page. This along with the campaigner app helps the campaigner have a real time update on the raised amount for their fundraiser and set both short-term and long-term goals accordingly. So when you achieve a measurable goal, it would automatically reflect on the tracker.

HOW IT HELPS: It will eventually help you detect the weak areas. Once the weak areas are detected, a fundraiser’s success journey is bound to become smooth. For example, if donors have questions regarding the funds utilization, then you can address it immediately by sharing the necessary information as an update. It helps you fix the problems before it’s too late.

Picture Source: Freepik

Attainable

IDEA: The fundraising goals should be ambitious enough to challenge you and yet realistic enough for you to attain them.

HOW IT HELPS: It is important because setting unrealistic goals can be often demotivating for a fundraiser’s success. Hence, you should always strive to set fundraising goals that motivate you to do better at each step.

Picture Source: Freepik

Also Read: Build A Winning Fundraising Team In 4 Simple Steps

Relevant

IDEA: While setting fundraising goals, keep in mind that they should be connected to the overall mission of the fundraiser.

EXAMPLE: For example, if you are planning to increase the visibility of the fundraiser among a younger audience, then you can share your campaign more aggressively on Instagram to be able to tap the right audience. Or if you are planning to target an audience between the age of 35-60, who might be interested in your fundraiser, then you can share the same on Facebook or Whatsapp. If the relevant audience is not aligned, then the exposure will not be able to bring conversions to your campaign.

HOW IT HELPS: Which is why your goals should positively contribute to the vision of the fundraiser, especially with medical crowdfunding since it’s more sensitive.

Picture Source: Freepik

Time-Based

IDEA: Every successful fundraiser should have a beginning and an end.

Fundraisers that stretch out for a long period of time can become demotivating for you or your team that is working on it.

HOW IT HELPS: All your goals should have a definitive deadline. It will eventually help you track your progress and work towards raising the remaining amount accordingly.