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3 Crucial Fundraising Strategies for Nonprofits

3 Crucial Fundraising Strategies for Nonprofits

In the past few weeks, we have shown you how to raise more funds by using social media, peer-to-peer campaigns, virtual/hybrid fundraising events and matching gift campaigns. We have also talked a lot about these fundraising strategies in our webinars which you can still watch for free.

We are covering these strategies because, at Arreva, we understand how important it is for you to retain existing and acquire new donors and supporters especially during this time. States are starting to slowly open back up and get back to normal, but there is still a hesitancy to remove social distancing guidelines and plan fully in person fundraising events and galas. Even as we move forward, the pandemic has forever impacted how you reach out, engage with, and create easy ways for donors to support your organization and your mission.

In this spirit, we decided to share tips on how you can use the knowledge gained from our recent blogs and webinars to help your nonprofit adjust to this new normal.

 

Reviewing the Case for Support (The Case)

 

The Case For Support is a document that presents compelling reasons why your organization deserves support. It is dynamic and can be used in raising funds, recruiting board members, and retaining the support of crucial stakeholders during difficult moments.
 

If you don't have a Case for Support, you can watch our free webinar with Diana Hoyt, Author of Formula for Fundraising: Embrace Your Donors For Greater Success and Director of Fundraising Consulting at Arreva, to learn all about writing an effective one.
 

The Case for Support works because it answers the question, "Why?" It tells donors why they should still fund your nonprofit. It tells volunteers and board members why they should keep advocating for your cause, even during this adjustment time.
 

Marketing the Case on Social Media

 

The impacts of the pandemic and quarantine drove more donors online, specifically to social media as one of the main sources of entertainment, news, etc.

 

The spike in online users, social media users, is only increasing. To achieve your social goals moving forward, you must stay ahead of trends and employ effective social media marketing tactics. You should prioritize interpersonal communication, encourage board members to be proactive on social and use authentic influencers to reach prospective donors.
 

Emphasize your Case for Support in all social messages. Ensure that your team members are also vocal about the Case for Support.
 

And finally, do not forget to test. Leverage the power of digital and social analytics to understand your constituents better.

 

For more tips on how to succeed on social media as a nonprofit organization click here.

 

Embracing Virtual Fundraising and Matching Giving

 

 

What do all these tactics - direct mail, live auctions, telemarketing, television advertising – have in common? They are proven fundraising tactics that many successful nonprofits have been using for decades. You may even be reliant on them too.
 

But the coronavirus crisis has proven that diversifying your fundraising tactics is the best insurance against an uncertain future. For example, nonprofits that solely depended on live events to raise funds may have hit a significant rough patch in their fundraising. Both the Global Healthy Living Foundation and Juvenile Diabetes Research Foundation (JDRF) canceled big fundraising events last year.
 

One effective alternative is virtual or hybrid events.
 

A virtual event is an online event that is usually presented through webinars or webcasts. It can be presented in real time or as a recording as an auction, seminar, or conference. If planned properly, not only can you achieve similar results to in-person events, but you can also lower your overhead and costs tremendously. Watch how the Boys and Girls Club of Whatcom County raised $308,000 with a Virtual Fundraising Event and Gala by clicking here.

 

If you are set on getting back to in-person events, consider creating a hybrid event. Hybrid events are events that combine online and in-person components. They give you the ability to keep the face-to-face networking and interaction while also expanding your reach and overall cause awareness through an online portion. For tips on hybrid events and how to get started planning one today schedule a free fundraising consultation and demo here.
 

Also, start using online fundraising as a key revenue generation tactic. Arreva's online fundraising software offers all that you will need when transitioning to the digital space.
 

Another underutilized fundraising tactic is "Matching Gifts".
 

According to Double the Donation, "65% of Fortune 500 Companies offer corporate matching gift programs and about 10% of the US workforce are eligible for corporate matching gifts. Yet $4-7 billion in potential corporate matching gift revenue goes unclaimed annually and the average fundraising institution receives just 1.31% of individual contributions in corporate matching gifts."
 

Watch our free webinar on Matching Giving to learn more about how your nonprofit can benefit today.