Q2 marks the quarter where our business and our customers’ businesses returned to growth. States opened up with increased vaccination rates and dramatic declines in cases and hospitalizations. As we had been expecting, that is great news for live events.
The cover photo above is from the Scott Coffee Run, which is the Moorestown Rotary Club’s largest annual fundraiser. We wrote about the joy we and the participants experienced from being back at a live event. This experience is being repeated across the country, and run/walk/rides are one of the earliest events to recover from the pandemic. While it takes a while to plan and execute a successful event, which has limited the numbers this spring, we expect the fall to be very busy – and very happy.
Our core endurance business has fully come back, and we are gaining market share. Our GiveSignup business to help nonprofits raise more is really expanding as nonprofits shift to hybrid and in-person fundraising events. Our own business is well ahead of the plans we made in November and we are investing in growing our team. In fact, we are happy to welcome so many new and talented people to our team.
In 2021 we are comparing our numbers to 2019 – the last year of normalcy. The quick way to see how our community has recovered is to compare the total transaction volume processed on our platform. The fact that the red is above the blue by a growing margin is good news. Our customers raised 18% more in June of 2021 than they did in 2019 on our platform in spite of only partial recovery of live events.
While the transaction volume has grown, some of this is from our GiveSignup efforts with nonprofits. We are seeing a number of nonprofits holding free events that are fundraisers or focus on donations. We are also benefiting from early adopters of our purpose-built nonprofit ticket platform.
Endurance registrations are down 11% for the quarter, but were essentially flat in June with 442,000 vs. 447,000 in 2019.
We are experiencing growth in our endurance customer base, with new endurance customers representing about 20% of the registration volume. We still have a number of endurance customers that have not returned yet as planning a spring event was difficult to envision in January and February (and sometimes local governments were not allowing permitting).
Our strategy of building a set of purpose-built solutions to enable nonprofits to engage their supporters beyond run/walk/ride events seems to be gaining market acceptance. As the numbers below indicate, GiveSignup is growing rapidly. In fact, over 40% of our total transaction volume (not just tickets and donations shown below) is done by nonprofit 501C3 organizations. When we decided to build additional features to help our nonprofit customers on a broader basis, part of the logic was that it would grow our overall business and allow us to invest more in the core platform. This is indeed the case, as we now have been able to hire new developers to expand our RaceDay development team and our infrastructure team. Over the coming years, the additional business will help us pay to revamp our membership and volunteer and sponsor systems. In addition, our leadership technology for endurance events makes us the obvious choice for nonprofits putting on run/walk/ride fundraisers.
Our focus for GiveSignup is on fundraising events. We are taking our expertise in events and building a full featured nonprofit ticket platform for all types of events. We are seeing an increasing number of our endurance customers expanding use of the GiveSignup platform – from replacing Eventbrite for their gala and golf outing and festival to replacing PayPal donations with our purpose built platform. And best of all, it is all in one platform and one place.
Our Q2 metrics are actually ahead of our projections for the quarter, and in June, we were about 35% ahead of our own revenue projections. While that is good, we know that the past quarter is not necessarily reflective of the future in this fast-changing environment.
Another set of metrics guides us toward even more optimism about our business. We wrote about how we are growing again – hiring people and increasing our spending budget – based on what we are seeing from future trends. Here are some of the updated charts we shared in that blog:
We are bringing our same open approach to the nonprofit community – this time with a focus on making it easy for nonprofits to integrate their participant, fundraiser and donor data on the GiveSignup platform with their CRM and Donor Management System. This can be thought of having the best of both, and helps nonprofits optimize their supporter engagement. We’ve added dozens of additional fields over the last 3 months to our Open API, including ticket holder information and custom questions, to give nonprofits even more information fields to pull into their CRM and DMS platforms. We now support integrations with 11 systems:
- Neon One
- Network for Good
- Blackbaud Raiser’s Edge
- Active Campaign
- Dynamics 365
More Technology Updates
Live events are back. Our data shows that overall, there is a shift from the pure virtual era to a more balanced hybrid era where many events have a virtual and challenge option. Live events make up over 80% of transactions.
We had over 600 deployments of features in Q2. Many are small improvements for a variety of reasons – some of them are the monthly security updates we make, some are small UX improvements, some are optimizations of the system, some are adding fields to reports, some are to improve virtual results display, and countless other items. Here are some of the GiveSignup technology highlights:
New Ticket CheckIn App and Volunteer Mode – Just like our RaceDay CheckIn App, this makes it simple for volunteers to use their own phones to check in participants. This makes training a breeze and avoids costs and complications of expensive equipment, or the overhead of manual spreadsheets printed out.
Improved Website Customization – One of the great features of our ticket, donation and fundraising websites is that they are real websites. You can bring your own URL, you can create beautiful cover pages, and we are quickly adding features. Q3 will bring advanced website builder capabilities that enable any type of content and multiple pages and menus integrated right with your call to actions and real time data like donation goals all easily managed and under the nonprofit’s control. Oh, and your supporters don’t have to get ads for other events from Eventbrite.
Ticket Import – This allows for manual entry or CSV upload of tickets that are purchased outside the online ticket purchase capabilities of GiveSignup. It also allows nonprofits to import tickets sold on Eventbrite.
Referral Rewards Improvements – We have expanded this unique capabilities that allows nonprofits to reward participants with encouraging their friends and family to sign up for your event. For example, offer people a $25 refund if they get 5 friends to sign up. This is all automated on the GiveSignup platform, with no extra work for nonprofits to adminster.
E-Cards for Donations – We have added beautiful and easy to use e-cards to donations. For example if someone makes a donation, they can send a “Happy Birthday” to a friend letting them know a donation was made on their behalf.
We are excited to be a part of the recovery from a very difficult time for our customers. It makes us even more motivated for continuing to release great technology that can help nonprofit and endurance customers raise more.