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Defining the right metrics lays the groundwork for meaningful and measurable progress. It’s a critical part of setting expectations, forming strategic plans, measuring the success of activities, and leading a team to achieve desired results. Last month the Version2 team isolated and began reporting on the three key metrics defining success in autonomous fundraising – Dollars Raised, Engagement, and Activities. By all three measurements, we’re seeing the transformative results of the Virtual Engagement Officer (VEO) as R&D accelerates into undeniable success.
How did we land on these metrics for Autonomous Fundraising and why do they matter?
Dollars Raised
The dollars raised through autonomous fundraising are expected to surpass $100,000 this week and $200,000 by year’s end. Of the five milestones we set for this initiative, the first is achieving early gifts. The fourth is VEO self-sustainability – its efforts covering operational costs. Less than two months after launch, we’re proud to say the VEO has now achieved this milestone.
This achievement signals financial growth and is a testament to the VEO’s ability to deliver results. As the dollars raised continue to climb, we’re proving that Autonomous Fundraising is not only possible but also the undeniable future of effective nonprofit development. With every dollar raised, the VEO reinforces its role as a game-changer in the missions of nonprofits changing the world.
Engagement
With over 500 engagements, the VEO is redefining how organizations connect with donors. Following higher education’s CASE standards, autonomous fundraising engagement encompasses giving, two-way conversations over text and email, as well as SMS interactions such as likes and loves.
Donors are engaging directly with the VEO to share stories about why they choose to give and how the organization has impacted their lives. They’re asking for information on event registration, organization initiatives, and past giving. They’re sharing feelings of gratitude and appreciation for the personal messages the VEO sends. Through these connections, the VEO learns about donors as a human gift officer would, enabling personalized interactions that drive increased giving, planned gift opportunities, and pipeline development.
Activities
The VEO has completed over 12,000 autonomous actions with donors, encompassing hundreds of unique combinations of moves management stages, tailored content, and diverse communication methods.
Each activity not only strengthens donor relationships but also enhances the VEO’s capabilities. As the number of actions grows, the VEO’s ability to deliver innovative, personalized, and effective donor engagement evolves, setting a new standard for fundraising efficiency.
These metrics underscore the profound impact of autonomous fundraising. Dollars raised demonstrate financial sustainability. Engagement builds a foundation for long-term donor relationships. Activities showcase the VEO’s versatility and potential to scale. Together, they illustrate a future where nonprofits can achieve more than ever thought possible.