Smart Ways for Nonprofits to Raise Money
A common challenge for nonprofits is raising the funds they need for their various activities. Relying on repeat donors can work, but it is not always reliable because donors stop donating all the time for different reasons. This leaves the question, what other ways are there for nonprofits to raise the money they need? Here are some ways to do so that apply to nonprofits of all sizes.
If you already have supporters, you can turn them into fundraisers by running peer-to-peer fundraising campaigns. These types of campaigns work by allowing supporters and staff to run their own fundraising campaigns. The nonprofit makes available all the materials they would need to set up a fundraiser, collect the funds, and report on their collections. By doing this, a nonprofit can widen its fundraising campaigns and reach people it could have otherwise.
SMS has been proven to be one of the most effective ways of reaching people. It has a 99% open rate, which is much better than email, and a response rate of over 45%, making it perfect for fundraising purposes. SMS also has a very high return on investment because nonprofits average $5 donations for every $1 spent on SMS fundraising campaigns.
To make things easier for nonprofits, there are various tools, software, and platforms that can make sending SMS and raising funds easier. A platform like Tatango provides SMS marketing services and fundraising integration for nonprofits. Their SMS marketing platform has been used by numerous nonprofits that have raised hundreds of millions in donations.
People are more likely to become repeat donors if the nonprofit thanks them personally. Instead of emailing or sending a message, you could create a video message thanking your donors and asking them if they could donate again. This strategy has been shown to increase repeat donations by up to 50%.
Creating a fundraising page can also be very effective in helping you attract donations. There are numerous platforms to help you do this, but it is best to use a reputable and popular one. Start by explaining your goals and objectives and telling people what their donations will do.
Do not forget to add your story so people can understand what the nonprofit does. Also, try to use emotional and convincing language without being pushy. Emotions connect people to your nonprofit and its cause and can lead to an increase in donations.
If people are interested in your nonprofit and its causes, they will be more likely to join your mail list or newsletter. People want to hear about the nonprofits they support and what they do. Keeping in touch like this and occasionally sharing the great work you are doing can show people the value of donating, thereby increasing your donations.
Nonprofits raise money for a variety of reasons, and they can have difficulties from time to time due to various reasons. A little creativity can help keep donations up and even increase them at a time of need.