With over 1.8 million charitable organizations in the United States alone, standing out from the crowd and finding new ways to fundraise can be a daunting task. Not only do you need to have a stellar fundraising strategy, but you also need to come up with creative ways to attract donors and get them excited about your mission.
After all, the more funds you raise, the more people you can help. So if you’re ready to take your fundraising efforts to the next level, here are five innovative ways to get more bang for your buck.
Host a Fundraising Event
Events are a great way to engage with donors while also raising money. Fundraising events can be as simple as hosting a cocktail party or dinner, or as adventurous as organizing a 5K race. By offering donors an exciting and interactive event, you can make sure the funds keep rolling in and that your supporters keep coming back for more.
As the Covid-19 pandemic has demonstrated, you can also host virtual events to engage with donors. From live-streaming concerts and comedy shows to virtual galas or silent auctions, there are plenty of ways to make sure your donors still feel connected and involved.
Find grants and sponsors
Figuring out how to find grants for nonprofits can be a great way to diversify your funding sources. By finding sponsors and securing grants, you can ensure that your organization has more funds to keep your mission going.
Make sure to research available grants thoroughly, as some may have specific eligibility requirements or deadlines. Once you’ve found the right grant for your organization, don’t be afraid to reach out to potential sponsors and partners—they may have a few extra dollars lying around that they would be willing to donate towards your worthy cause.
Start a Crowdfunding Campaign
According to Fundly, over $34 billion has been raised (globally) through crowdfunding campaigns, thus making it one of the most popular fundraising methods on the planet.
Furthermore, crowdfunding is especially useful for smaller nonprofits, as it can help you reach potential donors outside your existing donor base and gain new supporters.
If you are considering setting up a crowdfunding campaign, here are a few tips to get you started on the right foot:
- Create a catchy title and description for your campaign.
- Include photos or videos to make it more appealing.
- Offer rewards or incentives to motivate donors.
- Use storytelling to show the impact of your work.
- Share your crowdfunding page on your social media channels and email list.
Launch a loyalty program
A loyalty program can be a great way to reward your most reliable donors and encourage them to give more. From discounts on products or services to exclusive access to events or publications, you can come up with creative ways to show your appreciation and keep donors engaged.
The more you can make your donors feel like an integral part of your organization, the more likely they are to keep donating, so make sure to make them feel special in every way you can.
Plus, the good news is that your loyalty program does not need to be complicated or costly. You can customize a simple system for your organization and keep track of donors easily by using software or even a spreadsheet.
Create an online store
Creating an online store is a great way to not only raise money but also help spread the word about your organization. From selling branded merchandise like t-shirts and mugs to offering digital products such as ebooks or music, you can create a store that offers something for everyone and generates extra funds at the same time.
Just take a look at the Amnesty International Store, which sells a range of branded products from scarves and mugs to stickers and fridge magnets.
Image Source: Amnesty International
With a cleverly designed online store, you can make sure your donors are getting something tangible for their contributions and giving them a reason to keep coming back.
And building a store doesn’t have to be difficult, either. With the right e-commerce platform, such as Shopify or WooCommerce, you can quickly set up an online store for your nonprofit in no time. Plus, you’ll be able to easily track sales and keep donors engaged with discounts and special offers.
No matter what type of fundraising strategy you choose, remember that the key to success is to engage with your donors and let them know how their contributions are making a difference. With the right approach, you can make sure your organization has all the funds it needs to continue its mission and keep making an impact. So don’t be afraid to get creative and start exploring new ways to raise more funds for your nonprofit.
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