Top Fundraising Strategies for Nonprofits You Need to Try
As the manager and/or stakeholder of a nonprofit, bringing in donations is your first priority. It’s your job to find new and innovative ways to attract donors and make the process of giving money as simple and rewarding as possible.
With the implementation of new technology solutions, specifically fundraising CRMs, you can increase revenue and retain donors more effectively, as well as intuitively measure the results of new strategies.
Host online auctions
Online auctioning became popular in the early 2000s, with eBay being the first site to allow buyers to bid against each other for items. Now, there are many online tools you can use to host an auction.
These resources are especially useful for nonprofit owners, since auctioning has always been an impactful fundraising strategy. However, scheduling the auction, marketing the event, sending out invites and organizing invoices for items can get stressful.
Auction software helps the entire process go more smoothly. You can put together a schedule, send out email invites to prospective donors, keep track of all transactions and generate post-auction reports conveniently from your laptop.
Creating a membership plan will make life easier for you and your donors. Tedious administrative tasks like reaching out to individual members with updates, or sifting through paperwork to locate someone’s contact information, are no longer necessary.
With a fundraising CRM, you can send out automatic emails to your donors with important news about events, renewal periods, additional giving opportunities, etc. Once they sign up, useful information, like contact details and the amount of money given, will be stored in an easily accessible database.
With their own membership portal, donors can log in to receive updates, view their donation history and give more money to the cause, without the need for assistance from a representative on your end. Allowing your members to access their accounts through their mobile devices is an important piece of this as well. Having the ability to make donations on a smartphone rather than a desktop or laptop makes the process more convenient, which leads to more contributions.
Keep donation forms and emails short
Again, the simpler you make the donation process for your prospects, the more likely they are to give money to your cause. You can start pushing donations through faster by shortening the form that people have to fill out each time they want to send you money. If you don’t need specific pieces of personal information, get rid of those sections. And keep in mind that, with a well managed fundraising CRM, your members won’t have to fill out the same form twice.
It’s also important to mention the importance of short messages in email marketing. The longer your email to prospects is, the less likely they are to read it. Keep the copy short and just cover the main points: What is the cause? Who will their donations help? How can they sign up?
Provide multiple giving levels
From the donor’s perspective, it can be difficult to know exactly how much they’re expected to give. Seeing how much other people have donated before makes a huge difference in deciding on an amount.
An informative donation page can help you hold your prospects’ hands through this process. You can present a scale on that page that shows which range of donation amounts are considered low, average and high.
Make recurring donations painless
When someone is filling out the online form to make a donation, consider including a box at the bottom that they can check if they’re interested in setting up recurring gifts. Even if a one-time donor wants to be a recurring donor, they may not have time to go through the process that frequently, or they might just forget to.
Fundraising platforms that allow automated recurring donations fix this problem. Once they’ve made their first donation, all of their personal information (including payment credentials), will be saved in a secure database. The system can process the payment and send an invoice without any activity required on the donor’s end.
Events are still one of the most effective ways for NPOs to strengthen their donor networks. New fundraising technology solutions have made planning, executing and learning from these events easier and more fulfilling.
You can create event pages and allow people to buy tickets online. By having a clear view of everyone who has bought tickets leading up to the day, you can accurately prepare for the event. For instance, you’ll know exactly how big of a space to rent and how many complimentary refreshments to provide.
Interested in learning about more fundraising strategies for your NPO? Visit Allegiance today!