In the age of coronavirus, where people feel fear and trauma, nonprofit organizations are struggling. The pandemic and its impacts on the economy make everything uncertain. Will people retain their jobs? Can companies provide services people need?
In the weeks or months ahead, nonprofits will need money to keep their operations running, compensate their staff, pay rent and utilities, and even start an endowment. But with this period of isolation, how can these organizations raise funds? Aside from seeking help from professionals for endowment campaign development, consider these strategies below:
1. Content Marketing
Using content, let people know what you do that is relevant to them. Remember that there are thousands of good causes, and the most noticeable ones get more donations. Know who your potential supporters are and what they need.
Also, determine where you can find them. For instance, if they’re mostly on Facebook, be there. If they communicate more on emails, know their email address and tell them what you do.
2. Donor Retention
One of the biggest problems of nonprofits is that they quickly lose their donors as fast as they acquire them. Donor retention is the measure of the number of donors that give to your organization every year. Here are ways to boost your donor retention rate:
- Share your success and struggles with your donors. Let them feel that they are part of a good cause your organization does.
- Ensure that your first-time donor remembers you after the donation. Create a strategy to ask for the second gift.
- Improve your communication with your donors.
- Ask for feedback, whether online, over the phone, through the mail, or in person. Once you receive the results, act on the issues.
3. Create a Culture of Philanthropy
You should treat everyone involved with the charity with care and respect. Also, bring all the staff together from all the departments regularly to share stories and perspectives. Listen and give opportunities to people to share and understand each other.
With each project, work with the team to achieve shared goals. It could be a successful fundraising program, your organization’s cause, or growing your programs.
4. Keep Your Supporters Looking Forward to Your Next Fundraising
Ensure that every campaign is different. Constantly brainstorm new fundraising ideas and keep your supporters excited about what’s coming up. Take note that the competition is tight, and there are thousands of other choices to which donors give their money.
Just because your fundraising idea was a success many years ago, you will have to repeat it this time. You can put a twist or expand it if that’s the case. If you find it difficult to create new ideas, consider getting pre capital campaign consulting services from reputable consulting firms.
5. Update Your Resources and Tools if Necessary
Consistently review your tools and resources to identify areas of improvement. You may not realize it, but outdated tools may hold your mission back. With the fast-changing technology these days, what worked for you last month may not work tomorrow. Ensure to stay on top of the continuous developments in the market.
Looking for the Right Fundraising Consultants
When choosing the right fundraising firm, identify what kind of fundraising services your organization needs. Ask the people you know for recommendations or research online, then create a potential list of consultants. Pick one with experience in conducting prospect research, directing annual giving programs, directing capital campaigns, and understanding the moves management process. Ensure that they have a successful track record of working with organizations like yours.
Visit Alexander Haas website for new fundraising ideas.