When quality makes you more money than quantity
Everyone can relate. How often do we get approached to support a cause? With so many school fundraisers out there, most likely a lot. If you’re a parent, you may be able to relate to both bombarding others, as well as feeling bombarded.
You have to balance your own children's selling, as well as deal with the neighborhood children. Many feel obligated to support other students because their parents also support yours. It seems like it never ends. What's worse, many groups are stuck in a vicious cycle. They feel the only way to raise the money they need is to conduct one sale after another.
But there’s hope. There is a 'win win' solution. Can groups do fewer fundraisers, yet still meet their financial goals? This would make everyone much happier. Here are 3 ways schools can limit the number of sales they do while keeping everyone sane at the end of the day.
1. Choose the Right Fundraising Products
When it comes to selecting a product, be sure to do your homework. Products that offer a higher profit percent may not be your best option. This is a common marketing strategy employed by companies. Resist the urge to choose campaigns only on profit margin. These types of programs can end up yielding lower than average sales results.
Would you rather put more money in your pocket or make a higher profit percentage off what you end up selling?
Consider the following 2 examples:
- Product A offers 50% profit. You sell 200 items priced at $10 a piece. You would profit $1,000 (200 items x $10 x 50%).
- Product B offers 40% profit. You sell 350 items priced at $9 a piece. You would profit $1,260 (350 items x $9 x 40%).
This is an over-simplified example but you get the point. It could have been that people were more receptive to the lower price point.
At the same time, it's also important to resist choosing a product on price alone. Have you considered taking a survey? Ask your parents what they think will sell. The feedback you get back may surprise you.
It's also a good idea to vary the types of sales you do. Do your homework by researching the various opportunities that are out there. Contrary to what you might think, there are pros and cons to every product. So make sure you learn which ones will work best for your group.
2. Allow More Time Between School Fundraisers
Your students will work harder if they know they won’t need to sell as often. And if they know in advance when your sales will take place, even better.
2 common mistakes that sponsors make are:
- Having one fundraiser right after another.
- Doing more than 1 fundraiser at a time.
You should approach each sale like it's a sprint. Get out of the gate fast, work hard, and finish strong. You only have a limited time so once it's over, have no regrets.
Yet fundraising over time is like a marathon. It's important to have a plan mapped out. Spread out your sales so people don't get burned out.
Organized sponsors take the time to plan their fundraisers in advance. They then schedule a meeting with their group to let them know what the overall goals and expectations are. Everyone needs to understand when they will be selling. This way, it becomes more of a mutual agreement between you and your parents. Last minute pleas don't end up being as effective.
Spur of the moment sales also don't project a good image and appear unprofessional. Once you've rolled out your plan, be sure to stick with it, regardless. This helps build mutual trust. At the same time, inform your group that if sales goals are not met, the group will need to get by with less.
3. Focus on Quality Fundraising
Fewer campaigns leads to more willing participants. But you still need a plan to be successful. Focus on quality over quantity. Working to get the most out of each sale will bring in more money for your group in the end.
Don't assume your students are ready to go just because they have their supplies in hand. To ensure success, you will need to:
- Have a kickoff meeting with your students beforehand. This will help to establish needed sales momentum.
- Track your fundraiser so you can maintain your momentum that you initially create. Students understand they'll be accountable to making the sales discussed at the meeting.
- Have your students break the sale down into short term sales goals.
- Help them understand the importance of making the most of each day and then finishing strong.
- Realize that you've committed up front to a certain number of sales, so get the most out of each one.
The ultimate goal is to make more money with fewer school fundraisers. The more successful groups have already figured this out.