How Should Initial and Stretch Targets Be Set and Managed in CrowdJustice Fundraising Campaigns?
Managing initial and stretch targets effectively is crucial for a successful fundraising campaign. This article outlines strategies for setting these targets, adjusting them as needed, and maintaining campaign momentum.
Setting an Initial Target
When determining your initial target, focus on the amount you need within the next 30 days. This should be a meaningful but achievable short-term goal which also provides the flexibility to add stretch targets later on.
In your campaign's description or updates, you can also reference the ultimate total amount you aim to raise to provide context and motivation for supporters.
What Is a Stretch Target?
A stretch target is an extended goal added to your fundraising campaign page once the initial target has been met. This provides flexibility to continue your campaign and raise additional funds for your cause.
Managing Stretch Targets
Once your initial target is achieved, there is no need to end your campaign. Stretch targets allow your campaign to continue raising funds indefinitely. Campaigns typically automatically renew every 30 days, until you decide when to close the campaign. This flexibility ensures you can maximize fundraising potential for the duration of your campaign's relevance or need.
You can also amend and increase the stretch target amount incrementally, allowing you to adjust based on your campaign's progress and donor response. This staged approach can help sustain engagement with potential contributors over time.
Best Practices for Maintaining Campaign Momentum
Set Realistic Targets: Start with a short-term, manageable initial goal to build early momentum.
Communicate Clearly: Keep your supporters informed about your progress. Highlight the reason and necessity for the stretch goals in your updates.
Increase Gradually: Rather than a single large stretch target, consider incrementally increasing the goal to maintain achievable milestones during your campaign.
Monitor Performance: Track your campaign's progress and donor engagement to make timely decisions on closing or continuing the campaign.
By following these practices and utilising flexible stretch targets, you can effectively manage your fundraising campaign and reach your goals over time.
Related Topics
How to create an engaging campaign page
Strategies for updating campaign supporters