In the age of coronavirus, where individuals experience worry and trauma, nonprofit organizations are having a hard time. The pandemic and its toll on the economy make everything unsure. Will people maintain their jobs? Can companies provide services consumers demand?
In the weeks or months ahead, nonprofits will need money to keep their operations running, compensate their personnel, pay rent and electricity, and even begin an endowment. But with this time of isolation, how can these organizations raise funds? In addition to seeking help from professionals for pre campaign counseling, the following ways can help maximize nonprofits’ income if done right:
Utilizing online content, tell people what you do that is relevant to them. Remember that there are thousands of good causes out there, and the ones that stand out get more donations. So, know who your prospective supporters are and what they need.
Figure out where you can find them. If they’re usually on Facebook, be there. If they interact more on emails, make an effort to know their email address, introduce your organization and tell them what you do.
2. Donor Retention
One of the greatest problems of nonprofits is that they quickly lose their donors as quickly as they acquire them. Donor retention is the measure of the number of donors that provide to your company each year. Here are ways to improve your donor retention rate:
- Share your success and struggles with your donors. Let them feel that they belong to a good cause your organization does.
- Make sure that your first-time donor remembers you after the contribution. Develop a method to request the second gift.
- Improve your communication with your donors.
- Ask for feedback, whether online, over the phone, through the mail, or face to face. Once you receive the results, act on the problems.
3. Create a Culture of Philanthropy
You need to treat all people involved with the charity with care and respect. If possible, gather all the personnel from all the departments regularly to share stories and points of view. Listen and give opportunities to people to share and understand each other.
With each project, work hand in hand with the team to attain shared objectives. It could be a successful endowment campaign, your company’s cause, or growing your programs.
4. Keep Your Supporters Anticipate Your Next Fundraising
Ensure that every campaign is different. It’s important to brainstorm new fundraising ideas and keep your supporters looking forward to what’s coming up. Remember that the competition is tight, and there are thousands of other options to which donors give their money.
Also, even if your fundraising idea was a success last year, you shouldn’t repeat it this time. You can put a twist or expand it if that’s the case. For professional advice, consider hiring fundraising consultants, such as Alexander Haas. Alexander Haas is a fundraising company that offers a fresh approach to nonprofit organizations’ fundraising.
5. Update Your Resources and Tools if Necessary
Make a regular schedule to inspect your tools and resources to identify areas of improvement. You may need to update your out-of-date tools, which are holding your mission back. With the fast-changing technology nowadays, what worked for you last month may not work tomorrow. Ensure to remain on top of the continuous developments in the market.
Looking for the Right Fundraising Professionals
When choosing the right fundraising consultant, determine what kind of fundraising services your organization needs. Ask the people you know for recommendations or research online, then produce a possible list of consultants.
Choose one with experience performing prospect research, directing annual giving programs, directing capital campaigns, and understanding the moves management procedure. Ensure that they have a successful performance history of dealing with organizations like yours.