During the coronavirus, where people experience fear and trauma, nonprofit organizations are facing difficulties to survive. The pandemic and its impacts on the economy make everything uncertain. Will people retain their jobs? Can companies provide services people need?
In the coming weeks or months ahead, nonprofits will need money to keep their operations running, compensate their staff, pay rent and utilities, and even begin building an endowment. But with this period of isolation, how can these organizations raise funds? In addition to seeking help from professionals for their expert services, like developing an endowment plan at Alexander Haas, 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.
In addition, identify where you can find them. For instance, if they’re primarily on Facebook, be there. If they often communicate 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
Make sure that every campaign is unique. Brainstorm new fundraising ideas and keep your supporters excited about what’s coming up. Remember that the competition is tight, and there are thousands of other choices to which donors can offer their money. Just because your fundraising idea was a success many years ago, you expect to become successful again this time. You can put a twist or expand it if there are no other options.
Learn more here about the annual fund campaign.
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 selecting a suitable fundraising firm, determine 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. To narrow down your search within your area, you can go online and type “fundraising near me.”
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.