Nonprofit organizations are constantly striving to increase brand awareness and raise more funds to support their important causes. However, limited resources and risk aversion can make this a challenging task. In order to overcome these obstacles, nonprofits need to invest in simple yet effective solutions that yield significant results throughout the year. Here are five strategies that can help nonprofits raise more funds:
- Dive into data: Nonprofits often get caught up in daily tasks and fail to evaluate what is working and what is not. Conducting a comprehensive digital audit can provide valuable insights into the organization’s online presence. For example, analyzing Google Analytics data may reveal that a significant portion of website traffic comes from mobile devices, but the mobile donation experience is cumbersome. By identifying such issues, nonprofits can make improvements that lead to increased donations.
- Stay top-of-mind: It’s crucial for nonprofits to maintain a strong presence in the minds of their supporters. While many organizations focus on communication efforts during specific campaigns or months, it’s equally important to engage with supporters consistently. Leveraging social media advertising platforms like Facebook and Instagram can help nonprofits reach their warm audience regularly. By sharing informative and entertaining content that demonstrates expertise in their cause area, nonprofits can establish credibility and stay relevant.
- Remove friction: Reviewing the online donation experience is essential for nonprofits. Conducting a mini-audit exercise by observing others navigate the donation process can reveal any obstacles or frustrations. By minimizing the number of clicks, simplifying the process, and reducing distractions, nonprofits can streamline the donation experience. Utilizing user-friendly online donation platforms like Fundraise Up and Funraise can enhance the mobile-optimized experience and allow for customization.
- Don’t miss out on matching gifts: Many corporations offer matching gift programs, yet a significant amount of matching gift funds go unclaimed each year. Nonprofits can partner with organizations like Double the Donation to seamlessly integrate matching gift tools into their online donation platforms. This enables donors to discover if their employer provides matching gifts, increasing the impact of their donations. It’s a win-win situation that benefits donors, nonprofits, and corporations.
- Offer stock and crypto donations: Nonprofits should provide donors with diverse donation options. In addition to cash or checks, nonprofits can offer the ability to donate via stock or cryptocurrency. Platforms like Overflow facilitate the transaction of stock and crypto donations for nonprofits. Research shows that the average donation through these alternative methods is significantly higher than traditional bank transfers or credit card donations. Both donors and nonprofits enjoy tax benefits, and nonprofits can build financial reserves for long-term goals.
To raise more funds, nonprofits must prioritize providing the best donor experience possible. Regularly assessing digital channels, web presence, and the donor experience is crucial for identifying areas for improvement. By implementing these five strategies, nonprofits can leverage technology and innovative approaches to increase their fundraising efforts and create a greater impact in their communities.
