The Covid pandemic has had a profound impact on almost every aspect of life. People have had to adjust their spending to get by. This was because many lost their jobs and livelihoods.
Thus, it would make sense that things like charitable donations would suffer. Yet, industry reports show that this may not be the case.
Research by Fidelity charitable shows that 25% of donors planned to increase donations. 54% would maintain their contributions. But, some had economic concerns. They admitted it would impact how much or if they would give.
The research is without a doubt good news for fundraisers. The fact that people are still willing to give during such tough times is a welcome relief.
But there has been a need for a shift in the approaches the fundraising professionals use. Nonprofit digital marketing has opened up lots of potential for fundraisers.
The teams also embrace better stakeholder engagement practices. Further, the adoption of technology and data is on the rise.
The nonprofit sector has evolved its fundraising processes during the pandemic. We will show you how below.
Greater Adoption of Online Platforms
A direct result of the Covid outbreak was social distancing. Face-to-face fundraising activities or events were no longer a possibility. And indeed many continue to adhere to the calls in 2021.
Digital marketing for nonprofits has been a welcome solution. It offers many benefits including attracting funding and raising awareness.
The organization also can build long-term relationships. The marketing strategies for nonprofits also help with increasing visibility and credibility.
Digital platforms allow for the hosting of virtual events. Fundraisers can draw attendance from stakeholders who prefer to avoid in-person events.
The possibility of reaching larger audiences is much higher. The fundraisers can also achieve higher efficiency with the right software.
Tasks like sending out invites and registering are easy. Further people can attend virtual sessions or access pre-recorded content.
If Covid continues to be a reality we have to live with, we can only expect greater adoption of such platforms.
2. Digital Transformation for Fundraisers Is No Longer an Option
Digital transformation ties in with the adoption of online platforms. Indeed, it is the only way to achieve it. Statistics show that 85% of nonprofits agree that technology is critical for long-term success. Yet, only a paltry 23% have a long-term strategy for its implementation in place.
Fundraising professionals need digital transformation for most of their processes. These include stakeholder engagement and data-based decision-making. The technologies help personalize communication, and so much more.
Investing in digital transformation is no longer a choice. It is the only way to carry out effective outreach programs to help with fundraising.
Online giving for example has seen significant growth during the pandemic. The organization must ensure convenience for donors when on the platforms.
Is it easy for them to donate or access critical information? Are there many payment options, so that you don’t limit them in any way?
Adoption of the online space is no longer only relying on websites and social media. The organization must invest in the right technologies to stay relevant.
3. Nurturing Meaningful Connections with Stakeholders and Donors
We can all agree that the virtual world offers tons of possibilities. But, it is easy to lose the human connection. Fundraising professionals must find ways to nurture meaningful connections with stakeholders and donors.
It means investing in resources and technologies to help maintain engagement and interaction. Take the example of AI chatbots to assist in conversational nonprofit digital marketing.
Stakeholders get prompt feedback on queries or concerns. The machines also automate some of the tasks. It provides the team relief from mundane, repetitive tasks.
AI chatbots also collect data. Such provide useful insights to help in decision-making. The fundraising teams use technologies like videos to tour program sites. It helps them showcase the work they are doing with the money they receive from donors.
Video content and storytelling is a powerful way to engage with stakeholders. AI-powered tools can scour the internet to find potential donors.
Public resources and social media platforms are a source of leads for fundraisers. They can follow up on the promising ones for contributions.
4. Data Management and Analysis Takes Center Stage
Data controls all the fundraising processes. The insights, for example, help the teams understand the giving potential of donors. It also helps with the strategic planning of the fundraising activities.
Yet the truth is many nonprofits do not have proper structures in place to manage data. This is not a situation that is unique to such organizations.
Over 50% of companies struggle with data management. Many lack proper infrastructure for such tasks. Fundraising managers need the right tools to collect, analyze and control data.
Predictive analytics, for example, can help target donors better. It uses factors like demographics, past giving behavior/capacity to group donors. Predictive analytics helps teams to predict future behavior based on ongoing patterns.
AI algorithms can analyze the data and provide insight to personalize donation appeals. Modern fundraisers realize the importance of data to engage and keep donors.
The Covid pandemic shook the world to its core when it first broke out. Its devastating effects continue to exist to date. Life, for many people, will never be the same again.
Yet it is interesting to note that the giving spirit did not diminish. Some people are still willing to give their time and money to nonprofits.
The challenge has been for fundraisers to find a way to reach such people. It has required a paradigm shift in their strategies and how they communicate. The adoption of the online space and digital transformation is no longer a choice.
Let’s take the example of restrictions on face-to-face events. The fundraising teams now use virtual platforms to host events. It brings convenience to both stakeholders and the organization.
Investing in technologies to assist is no longer an option. There is a greater appreciation for data. The insights help in decision-making, and better planning of activities.
Fundraisers must also create more meaningful connections with donors and stakeholders. And, the solution lies in adopting digital transformation.