New Ways to Fundraise

 

Many nonprofits seem to be experiencing losses and a decline in donor support. To address this issue, nonprofits need to implement lasting solutions to fundraising.

Rather than trying to compensate for the deficit with elaborate, outdated fundraising tactics, organizations should create a strategic, targeted approach that focuses on the treatment and recognition of existing donors.

In “Back to Basics: How Nonprofits Can Combat Donor Decline in 2018 (and Forever),” published by The Chronicle of Philanthropy, author Pamela Grow offers a few suggestions for combating donor decline, emphasizing the fundamental importance of each individual donor:

  • Take a closer look at your donors. Utilize your existing database of donors by analyzing why your loyal donors continue to give. Reach out to your loyal donors, thanking them and learning about the reasons for their commitment. 
  • Email, email, email. Converting and connecting with donors through email has proven to be incredibly effective. Maintaining an updated website to reflect your organization’s mission and identity is also an important tool to connect donors and build your email list.
  • Help your donors know how they’re making a difference. Share your gratitude with your donors by consistently thanking them for their support.
  • Begin fundraising with major gifts. Typically, the most amount of money is raised by a small percentage of donors. A major gifts program is much more effective than primarily relying on monthly donors.
  • Focus on planned giving. While planned giving can be a difficult topic to discuss, it is essential in tackling donor decline and the future of your organization.

To read more about Grow’s thoughts on preventing donor decline, visit her article here.