Importance of Measuring Social Impact
Updated: Feb 26, 2021
Why measure social impact? Can we measure our impact? Isn’t it something you just see?
Here is the thing, every activity or program that you do has a result and that result must be measured.
The 1st reason is that Collecting Data and Anecdotes are needed for marketing and communication messages. The organization’s programs allows you to be in contact with your beneficiaries, so you can see the change that your services create. However, communicating such changes is more difficult. Stories are important, as they help donors and investors understand the impact in the lives of real people. But being able to quantify social impact, in terms that all stakeholders can understand and relate to, is essential to maintain and grow supportive partnerships.
2. Qualitative and Quantitative Inputs of feedback on your programs and activities allow you to improve them. When it comes to strategic management of your organization using the strategy cycle is essential which is Plan, Implement and Evaluate. Evaluating is key to help your organization issue bigger and better impact.
3. Measuring allows you to report accurately and demonstrate trust and accountability.
For an investor seeking an impact-first investment they will likely want a potential investee to have made a strong commitment to impact accountability. If you are seeking approval to implement a program, having impact data becomes a necessity of that persuasion process.
4. When your Impact Assessment strengthens your ability to attract new donors increases because you have demonstrated Effectiveness and Capacity. Through measurement you determine how effective your program is and your capacity for services.
5. Information can be shared with other Nonprofits promoting collaboration, increasing greater impact.