How will NPO Funding change during the Pandemic?
New players and movements are transforming the international development funding landscape of Nonprofit Organizations. According to a survey by Nonprofit Finance Fund, 60 percent of nonprofits experienced conditions in 2020 that threatened their long-term financial stability. As a result, most NPOs plan to reimagine how they will engage with donors and the beneficiaries of their programs and services.
There are several strategies nonprofits can leverage to ensure their success in a post-pandemic world.
Using Technology To Improve Donor Engagement
Technology plays a crucial role in making the nonprofit function more cost-efficient and keeping tabs on volunteer activities. The primary benefit can be seen in the fundraising arena.
Virtual Fundraising events
Leveraging the power of new technology to host virtual fundraising events for your supporters is key to keeping your organization involved as we transition out of the Pandemic. Virtual fundraising efforts relied heavily on robust software for engaging donors online even before 2020.
These fundraising strategies can entice your donors to engage with your cause and benefit your engagement strategy in various ways.
Make Donor Engagement Easy And Fun
Peer-to-peer fundraising is a great and easy strategy to amplify donor engagement and empower supporters to raise money on behalf of your cause. One of the benefits of a peer-to-peer fundraising campaign is that it relieves many of the day-to-day operational stresses of a traditional fundraiser. 33% of nonprofits worldwide are using a peer-to-peer fundraising platform.
Peer-to-peer fundraising isn't new; however, it is one of the fastest-growing technologies NPOs can use to raise funds. According to YouGov, 39% of Americans say they've donated to charity based on a friend or family member's request.
Embracing technology can help NPOs fully engage new and existing donors, create solid and long-lasting relationships, and make it easier for them to boost donor engagement.
Fundraising Through crowdfunding
Another easy and accessible method to boost donations online is through crowdfunding. It mainly takes place online, setting out to generate funds from a large number of people who donate small amounts of money. NPOs can hold multiple crowdfunding events throughout the year to raise funds and connect with potential donors to support their mission. NPOs can easily create and share their crowdfunding endeavors on social media platforms with various crowdfunding tools available today.
Use Social Media To Boost Donation
Digital marketing is an excellent way for the nonprofit sector to expand its sphere of influence. Although offline strategies are an essential part of a well-balanced marketing plan, NPOs' risk of missing out on potential reach and donations may increase if they fail to incorporate digital strategies into their overall business objectives.
According to Marketing Sherpa, 95% of adults are most likely to follow brands through social networking globally. With most adults connecting with brands on social networks, charity organizations must have an effective and active nonprofit social media strategy in place.
Twitter and Facebook are popular social media platforms to communicate important events, send updates to your supporters, and connect with potential donors. LinkedIn enables NPOs to connect with senior employees from a large corporations. With the increasing popularity of the hashtag, NPOs can connect with potential donors when publishing content on Instagram. Video contents are a more popular way to engage with your potential audiences. NPOs can set simple yet use stylized ways to shoot content remotely.
NPOs can increase donor engagement effectively by leveraging technology to help fundraising efforts and reach wider audiences. With the help of social media strategies, they can cost-effectively raise funds and help their communities.
Fourth Dimension Technologies empowers communities and nonprofits to use technology to serve the world better. We create custom IT solutions tailored to your organization's needs using our "Proprietary transformation model." Being a leading provider of technology and solutions for nonprofits and their communities, we design budget-friendly technology services that maximize your nonprofit's return on investment, so you can better serve the community.