Online tribute funds are booming in popularity, with the number of new funds created from 2021 to 2022 increasing by 15%, according to the latest fundraising data analysis from next-generation digital fundraising platform goDonate. The increase comes on top of a growth in tribute funds of 63% in the preceding 12 months.
The growing importance of in-memory giving is examined in the Online In-Memory Report 2023. The report has been compiled as part of an analysis of anonymised donations data from selected charities using goDonate’s inMem tribute fund platform and bespoke tribute fund websites during the past 12 months. The organisations analysed featured more than 5,000 online funds, and garnered tens of thousands of donations.
The report reveals the latest behaviours and trends of fundraisers and supporters. It also offers best practice examples and tips to improve in-memory giving experiences.
In addition to an increasing volume of tribute funds, the average donation value of donations to a fund now stands at £49.22. This includes both individual donations and collections made from a funeral; but excludes the average donation made via an event page.
Other key insights in the report include:
- 86% of all tribute fund pages raise money.
- The average online tribute fund value is £907.
- When users create events as part of their tribute fund the average total they receive more than doubles to £2348.
- When charities offer a choice of online payment types, an average of 34% of users donate by PayPal. It is a vital payment method to have on a tribute fund website, as some users prefer it to using a debit/credit card. PayPal also offers a streamlined donation experience on mobile devices.
- 65% of tribute fund holders opt in to receive communications from the charity via email.
On average, most tribute funds receive their first donation within five days. They typically continue to receive donations for a further 64 days.
Vicky Reeves, Managing Director, goDonate, said: “Many charities are investing in their in-memory programmes as people turn to digital to create tribute funds for funeral collections, online tributes and event fundraising.
“When a loved one or close friend dies, lots of people want to take positive action to provide a legacy for them. Leaving a donation and message is a good way to do this, so offering online tribute funds as part of an overall digital strategy is key for charities.
“Charities of all sizes and causes must enhance their connections with these key fundraisers, to fully leverage the potential of this income stream – and online tribute funds are a vital part of their strategies.”
goDonate’s in-memory fundraising products are designed to give supporters a platform to undertake tribute fundraising for every charity, providing best-practice user experience and allowing organisations to create branded bespoke journeys for these supporters.