In the world of fundraising, diversifying your strategy is crucial not only to increase your revenue streams but also to retain loyal supporters. Whilst fundraising is essential to your cause, it is also a great challenge. Relying on limited strategies will impede any opportunity for growth and development, creating a negative impact in the long run. This is why it is important to be on top of the latest strategy trends to bolster your ability to increase profits, engage your supporters and achieve your goals.
Fortunately, there are ways to keep you on the right track. Here are essential tips to guide you in helping your organisation increase funds, at the same time protect it in the event of a downturn.
1. Launch Donor Recognition Program
Donor recognition is highly essential to turn first-time and existing supporters into recurring ones. And the best way to do this is to thank them. Hence a recognition program will recognise all the people that help realise your organisation’s mission and goals. Because these people believe in your cause, it is imperative to engage with and recognise their efforts. You can send personal thank you letters or thank you gifts after an event to let them know how much you appreciate their contribution. It is important to note that a lot of organisations lose their first-time donors because they fail to acknowledge their contributors’ participation.Â
2. Facilitate a Grassroot Fundraising Strategy
One of the best ways to increase your supporters to spread the word about your cause is to increase grassroots support. This strategy can help you increase your donor reach. By mobilising your friends, families, and existing supporters, you can connect with their networks. To create a successful grassroots campaign, you need to work on peer-to-peer fundraising events. Moreover, peer-to-peer fundraising boosts your engagement at a more personal level. Walkathons, Fun Runs, Honorary Fundraiser, and Virtual Running Events are just some of the grassroots strategies you may want to consider.
3. Improve Social Media Strategy
Needless to say, people are now more inclined to use social media for communication, updates, and a whole lot of reasons. Hence, when doing your fundraising, equipping and mastering the social media trend will keep you on the game. For instance, social networks are the best platform to identify potential donors who also believe in your mission. One great advantage of utilising social media is its many different sites. If you can focus on several social networking sites, this will increase your chances of strengthening your fundraising efforts. Furthermore, social media sites have unique abilities to send your message to different people from all walks of life.
4. Form Strong Corporate Partnership
Whilst individual supporters account for the stability of your cause, creating a strong partnership with the corporate world is highly beneficial. First, corporations are stable and possess strong allies and connections. If you can tap into these corporations, they will support and sustain your organisation. Second, corporations can support you by involving their employees to participate, either by donation or volunteerism.
5. Recreate Recurring Traditions But Embrace Innovative Opportunities
To ensure that your organisation can get hold of your current and first-time supporters, it’s important to recreate a successful event. Creating a tradition, such as an annual silent auction or other social events can strengthen community support. However, you should also be careful of running the same event year after year. Your donors might lose interest and might bring a negative light to your organisation. Hence, it is crucial to embrace new opportunities. Instead of a regular gala event, you could include a concert to get the community together.
To conclude, utilising effective fundraising strategies can make your organisation successful. The world around you is constantly changing, hence, pay attention to using different strategies for different events.
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