3 Crucial Fundraising Strategies that Work Now for Nonprofits During Covid-19
In the past few weeks, we've shown you how to raise more funds by using social media, a Case for support, virtual fundraising events and matching gift campaigns. We've also talked a lot about these issues in our webinars which you can still watch for free.
But within the same time, the coronavirus crisis has grown. According to the Center for Diseases Control, there are now over 200,000 cases and over four thousand deaths in the United States alone. Our economy keeps sinking and hundreds of hardworking Americans - some of who might be your donors - are now without jobs.
It's a nightmare. But at Arreva, we're determined to help you through it. Like our Co-founders, David Blyer and Susan Packard Orr, announced a few days ago, "We understand how important it is for you to urgently share with your supporters how this crisis is impacting your organization and those you serve, while providing clear and easy ways for them to support your organization and your mission."
In this spirit, we decided to share tips on how you can use the knowledge gained from our recent blogs and webinars to help your nonprofit survive COVID-19.
1. Reviewing The Case for Support (The Case)
The Case For Support is a document that presents compelling reasons why your organization deserves support. It is dynamic and can be used in raising funds, recruiting board members and retaining the support of crucial stakeholders during difficult moments.
If you don't have a Case for Support, you can watch our free webinar with Diana Hoyt, Author of Formula for Fundraising: Embrace Your Donors For Greater Success and Director of Fundraising Consulting at Arreva, to learn all about writing an effective one.
The Case for Support works because it answers the question, "Why?" It tells donors WHY they should still fund your nonprofit at this time. It tells volunteers and board members WHY they should keep advocating for your cause during a pandemic.
But the first step is to review your Case for Support. Ask yourself if your WHY is relevant and compelling. If your WHY isn't compelling enough - like sponsoring the treatment of terminal diseases - you might need to pivot temporarily and invest your efforts into fighting COVID-19.
2. Marketing The Case On Social Media
Due to the pandemic and resulting lockdown measures, donors and prospects are now spending more time on social. But that doesn't make social media marketing easier.
To achieve your social goals during this period, you must stay ahead of trends and employ effective social media marketing tactics. You should prioritize interpersonal communication, encourage board members to be proactive on social and use authentic influencers to reach prospective donors.
Emphasize your Case for Support in all social messages. Ensure that your team members are also vocal about the Case for Support.
And finally, don't forget to test. Leverage the power of digital and social analytics to understand your constituents better.
3. Embracing Virtual Fundraising and Matching Giving
What do all these tactics - direct mail, live auctions, telemarketing, television advertising - share in common? They're proven fundraising tactics that many successful nonprofits have been using for decades. You may even be reliant on them too.
But the coronavirus crisis has proven that diversifying your fundraising tactics is the best insurance against an uncertain future. For example, nonprofits that solely depended on live events to raise funds have now hit a rough patch. Both the Global Healthy Living Foundation and Juvenile Diabetes Research Foundation (JDRF) canceled big fundraising events in March.
We recently discussed an effective alternative in a blog post: virtual events.
A virtual event is an online event that's usually presented through webinars or webcasts. It can be presented in realtime or as a recording as an auction, seminar or conference. Read the post to discover how your nonprofit can maximize virtual events.
Also, start using online fundraising as a key revenue generation tactic. Arreva's online fundraising software offers all that you'll need when transitioning to the digital space.
Another underutilized fundraising tactic is "Matching Gifts".
According to Double the Donation, "65% of Fortune 500 Companies offer corporate matching gift programs and about 10% of the US workforce are eligible for corporate matching gifts. Yet $4-7 billion in potential corporate matching gift revenue goes unclaimed annually and the average fundraising institution receives just 1.31% of individual contributions in corporate matching gifts."
Even as COVID-19 rages throughout the country, matching gifts are still a great way to raise more funds.
Watch our free webinar on Matching Giving to learn more about how your nonprofit can benefit today.
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