Fundraising for Nonprofits – 10 Megatips that will help you raise more in 2022
Goodera’s first webinar for our nonprofit community, “Moving Beyond The A-Z of fundraising – 9 Mega tips on Fundraising for Nonprofits.”
Our good friend Kevin Delaney from Academy Street Workshop shared valuable insights that are easy to implement, could help you raise more and support from all volunteers.
Academy Street Workshop helps small-scale nonprofits without enormous resources in fundraising so that they do the best they can.
Did you know that individual giving reached a new high of $471.44 billion? This means that nonprofits globally should maximise the individual giving strategy for their first quarter in 2022.
This webinar covers several topics –
- Aligning your fundraising goals with your mission
- Evaluate our fundraising ideas against pre-defined measures.
- Learning To Ask- The Magic Arrow
- Understanding Donor Care- The Before, During, and After
Let’s look at the 10 mega tips from the webinar for nonprofits
Before you start
Why do you exist?
Every nonprofit or event should have the main end goal to achieve. There should be a solid reason for your existence, and you should be able to channel it appropriately. For example, “We exist because there are a lot of children that starve every day, and we want to feed more children to bring a positive impact to society.”
What do you do?
Highlight to your supporters and donors why you are essential – This is how you solve the problem For instance- “We exist because there are so many starving children in our town, we raise funds so that we’re able to provide them with proper meal service.”
Why should the donor care?
Here you should connect your audience to the cause. Explain to your supporters why they should care about the less fortunate and leave the world in a better place than we found it. Although the end goal is the same, the donors tend to donate more because of the impact that they can bring, not what the nonprofit can do.
For instance- With a donation of 2 dollars, you can feed a child for one day and prevent them from going to sleep empty stomach.
Make a plan
Who is responsible for fundraising for your nonprofit?
Fundraising is not just the responsibility of the Fundraising Committee or the fundraising officer. It is the shared responsibility of the entire nonprofit. Everyone needs to take ownership. When everyone is empowered to fundraise, it doesn’t just help the nonprofit but also brings a sense of belongingness to the members of your nonprofit. Moreover, it helps you increase your network and connect you with businesses, major donors, and skilled people who can help you and bring innovative ideas.
What are your resources?
Instead of jumping straight onto brainstorming, you should first see what you can bring to the table, be it money, skills, experience, or anything else. Identifying the assets/resources you have and learning new ways of maximising them is crucial. Although there are no limits to what you can do, you cannot always do everything. Understanding the limitations of your nonprofit is equally important.
For example- What are the skills you or the members on board have? What other resources does your organisation need?
Rating potential fundraising ideas against pre-defined measures
It is important to have a fixed criterion to rate every idea that pops up in your head about fundraising, making it more feasible to pick the best ones from the lot. Although you can have your benchmarks, below are a few suggested by Kevin –
It is obvious to have a lot of ideas for your nonprofit. Still, you must sit down and decide what will be the best fit for your nonprofit— technically reviewing all our ideas in a cold, clinical way. For example- Deciding the best way to fundraise for your cause – online events or in-person charity events etc.
An idea might be extremely impressive but fail when it comes to execution. Therefore, it is important to check whether the idea is rational and pragmatic or not.For example- There are 200 starving children in your locality and your nonprofit wants to provide three-time nutritious meals to them. Is it possible to achieve this goal if you only have enough resources to feed 50 children?
- Nonprofit’s ability to deliver
You must see if you can do the run. Overcommitment and under-delivery bring a bad image. Therefore, as a nonprofit, you should always know how much you are willing and able to do and achieve.For example- Promising your donors that their contributions would feed 200 starving children, knowing that the donations are enough to only fulfil the needs of 100 is wrong. You must do the evaluation beforehand and make decisions accordingly.
- ROI of Money and Time
The return of your money and time should be enough to keep your nonprofit going. You must have an idea of the amount of time you are willing to invest and whether you’ll be able to achieve your goals within the specified timeline. Knowing the rate of return in terms of money is also crucial to the existence of your nonprofit. Therefore, you must have a projection of the amount of money that your nonprofit can make through an event or donations.For example- You want to organise an online event, aiming to engage 100 potential donors in the coming week. According to your projections, the event can raise 1500 dollars.
- Fit for philosophy
Connecting your target audience with your cause/ event is essential. Making your ‘potential donors’ understand the gravity of their contribution can help you convert them to ‘your donors’. Knowing how the right words will resonate with the audience is a skill that is of vital importance.
The Fundraising Equation
Hero to the Problem
Simply put, it means – what the problem is, what your nonprofit does, how someone connects to the situation and how they can help.
For example –
Problem- Many kids are dying of hunger in your town every day.
Solution – We provide breakfast kits for kids to not wander around with empty bellies.
Hero – The donor. You can feed 20 children in our town every day if you are willing to donate some amount every month.
Magic Arrow (How to ask for money)
Sometimes asking for money is extremely hard. We beat around the bush, stall, stumble, go off the point, and face many other issues. The obvious solution to this is writing down a script and doing our best to stick to it. So Kevin came up with this magic arrow which consists of the following to help with this process.Eg: “I work for XYZ organisation. I care about children starving and suffering from poverty. I believe that my nonprofit will help at least a few of such kids with a proper meal if you are willing to help us. I think this is something you would like to support because as a part of the community, you would know how much we need to learn to support each other. Will you enable our nonprofit in helping these children through your donations?”
Donor care refers to making someone feel that their money was appreciated and put to good use and impacted the world around them. It is tough to get people to donate because it takes a lot of effort, like finding and asking corporations and setting up meetings. If someone has a good experience with donating, they feel good about it. For example- If they feel their 50 dollars helped save the environment or their 100 dollars helped feed the underprivileged, then they have the potential to keep giving. Hence going back to them and asking for more money is way easier.
What to do before Donor Care?
Take the time before you fundraise to decide how you’re going to take care of your donors. Be clear with what you want and what you’re asking. Ask them whatever will be most beneficial for you.
- What are you asking me to do?
- Why are you asking me to do this?
- How do you want me to do it?
- What will you do next?
What to do during Donor Care?
During your campaign, you must make your donor think that you were worth the donations. This is the most crucial part of your relationship with your donor so remember to send an appreciation mail or card updating them about the campaign and how they could help contribute to the cause no matter how small the donation is and do it as fast as possible.
- Processing procedures
- Acknowledging donation
- Making people feel special
- Thanking everybody
- Doing it quickly
Eg: Here a small gift card or a thank you note along with the update on your project is essential. It’s important because they have already made their donations, and now they would want to know if it’s worth it or not. Trying to send the appreciation right after the donation is made.
What to do after Donor Care?
Try making a follow-up and tell your donors how that campaign went. Was it successful or not?
For example- Sharing pictures of children being fed from the money they donated, showing them the centre, you are trying to build, whether or not you could reach your goal. Also, update them about your new scheme. Since they have once trusted you before and you’ve proven to them that you were able to make an impact out of that money, they are more likely to donate.
- Follow up
- Did you build that centre
- Did that child get that help it needed
- What was the impact of their donation
- Was it a success or a failure
- What’s the next dream
Learn fundraising, volunteering and more with Goodera
Goodera is a global technology platform through brand advocacy, volunteering and fundraising to empower nonprofits to maximise their beneficiaries and mobilise support.
We hope that the webinar helped you build a detailed roadmap to a successful fundraising strategy for your nonprofit before, during, and after the campaign, giving you a better opportunity to succeed in achieving your goals.
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