If you’re looking for ways to boost your 2019 fundraising efforts for your nonprofit organization, you’re in the right place. There’s no better way to do so than by knowing the trends within your niche. Understanding what’s happening around you helps you to think ahead, learn people’s behaviors, and seize the opportunities available. Here are 7 essential fundraising trends that you shouldn’t miss in 2019.
Donor-Advised Funds (DAFs)
The number of Donor-Advised Funds is increasing over the years. DAFs involve donors who gain tax benefits as a result of taking part in charitable contributions. In 2017, the number increased by 60%. This is a result of tax law reforms that introduced a program that allows small DAFs to minimize their tax liabilities by taking part in charitable contributions. Because of this, the number of donors who contribute to nonprofit funding has continued to rise.
You should take advantage of this continuing trend, and adopt a donor database that can track soft credits, have conversations with donors who are already giving through DAFs and entice them to give consistently. Put in place incentives that will prompt DAFs to act swiftly instead of delaying their giving.
Personalized customer experience is winning the hearts of many potential consumers today. According to a recent study, 80% of consumers who receive personalized communication are more likely to purchase from that brand. Fundraising plans in 2019 are using this to their advantage.
As a nonprofit organization, it’s time to do away with a generalized approach and instead, build customer relationships with a hyper-personalized donor approach. Know your audience first before making a donation recommendation. You shouldn’t use their name alone to personalize a message. Other aspects such as shared values or responding to supportive comments in a personal way are also essential in provoking people to take action towards your course.
If you’re overlooking engaging your donors in your 2019 fundraising efforts, you’re losing a lot. There are various ways to engage your donors, but the most common one is through email. Email is definitely not a thing of the past. The ROI of email marketing is 4 times higher than other marketing strategies such as social media or paid adverts.
You can direct your fundraising efforts to make sure your email marketing strategy is top-notch. Target your audience depending on their different needs, establish compelling and hard to ignore CTA buttons. Also, upload high-quality visuals and incorporate authentic stories that resonate with your target audience. Doing this gives your fundraising efforts a chance to go viral while simultaneously promoting donors engagement.
Today, self-promotion isn’t helping you in fundraising. The way people talk to donors has changed. Achievements in fundraising plans are coming from donor-centric practices and not methods that are focused on the promotion of your agenda.
Leverage this trend and change the way you treat your donors. Know what they want and use it to grow your mission. Always make your donors the heroes to your story, and make them feel like partners to your cause by ensuring that their participation promotes their goal to do good.
Focusing on Generation Z
In recent years, there has been a new generation joining the workforce. It’s called generation Z ― people born in the late 1990s to the early 2000s. They’re a good target audience because, apart from having the desire to participate in giving courses, they are dominant in most social media platforms. Solely focusing on millennials when developing a fundraising strategy is now an outdated practice.
Up your game in 2019 and adopt strategies that resonate well with generation Z. This new generation consumes media in different ways, so you should tailor your approach to fit them. Optimize your donation pages for mobile, and don’t forget to use visuals that make data quick to digest.
Active social media usage and working with influencers
Social media is a big thing today. A failure to represent your brand on the various social media networks has been referred to as a deliberate act of leaving money on the table. Influencer marketing is another new thing that’s building traction. Your 2019 fundraising strategy needs to put a watch on these two powerful aspects. They can help you reach new donors and build strong relationships with your followers.
Start by creating shareable content, maintaining an active profile, using chatbots to engage your donors, and if you’re just starting, try working with micro-influencers within your niche.
Data-driven strategies and technologically minded approaches
It’s always good to know the progress of your fundraising efforts. It not only helps you keep track of your achievements but it also monitors campaign strategies that need improvements. In 2019, emerging tools such as Alexa have made this possible. It can help in analyzing the donor database and identifying current and inactive donors, as well as those who have a potential of increasing their engagement rates. With this technology, it can be a lot easier to reach those 2019 goals of yours.
Fundraising is always a daunting exercise and is even harder when you’re running a non-profit organization. However, with these popular 2019 fundraising trends, you can create effective fundraising efforts. The results may take a while to manifest, so don’t lose hope if you don’t see them overnight. Don’t stop there either. Remain proactive by keeping an eye on other emerging trends. In the meantime, it’s time to roll up your sleeves and get started as soon as possible!