Summary: In today’s podcast, Simon Scriber from Fundraising Everywhere & Everywhere+ and Stephen Halasnik from Financing Solutions discuss virtual fundraising trends for nonprofits. These creative solutions are helping nonprofits to effectively optimize revenue generation in the wake of the pandemic.
Virtual Fundraising Trends for Nonprofits
Successful nonprofits always look for new strategies to improve their fundraising events and generate more money through creative ideas. More revenue stream means more financial flexibility in carrying out their activities such as feeding hungry families, investing in biomedical research, and providing humanitarian assistance. With the advent of smart technology, virtual fundraising tools have increasingly become accessible for nonprofits to conduct effective fundraising events. Still, many nonprofit organizations have failed to leverage the best virtual fundraising ideas to optimize their results, hence leaving more money on the table.
Numerous nonprofits are gradually coming to terms with the ‘new normal. Organizations that have adapted to virtual reality are already seeing the huge benefits of doing so in their performance indicators. But the big question remains: what are the best virtual fundraising ideas for nonprofits? This and more are what this piece tends to answer. Read on!
What are the Best Virtual Fundraising Ideas for Nonprofit?
In today’s world, constant change has made it imperative that we continually redefine how we do things. Numerous experiences have shown that people who keep tabs on trends are always in the lead to take full advantage of opportunities presented by changes. That said, owners of nonprofits must learn how to use technology that offers the best experience to them when performing fundraising events. Nonprofit organizations that use digital tools to conduct fundraisers are more likely to gain more supporters faster, grow their income, and feel more optimistic about the future.
Creativity in virtual fundraising means using interactive and real-time technology that adds enormous value to nonprofit fundraising events at a minimal cost. Some of the innovative virtual fundraising ideas that are helping nonprofits maximize revenue despite the challenges of the pandemic are:
Online Awareness Campaign
Digital platforms offer many capabilities to businesses for seamless operations. For example, tech-savvy nonprofits utilize social media to raise awareness of their fundraising events. For instance, Facebook and Tiktok have the potential of generating millions of views and can help nonprofits reach audiences that may not be aware of the organization’s mission. Plus, nonprofits can leverage digital platforms to facilitate their fundraising events by including a donation link that helps donors donate to the nonprofit’s cause irrespective of their geographic location.
The use of Crowdfunding
In the wake of the pandemic, many nonprofits have resorted to using crowdfunding websites to bring donors together, expand their traditional circle of donors and subsequently increase revenue. With virtual crowdfunding strategies, nonprofits can easily access a vast network of people that otherwise wouldn’t have been reached.
Leveraging Using Virtual Watch Party
Conducting a virtual watch party can be a veritable means of bringing people online for fundraising events. Nonprofits can pull this off by choosing a movie, scheduling a date, and selling the ticket. However, this approach becomes more effective when you select a movie that best highlights your nonprofit’s mission. With this method, you can set aside some specific minutes to discuss your organization and how the movie is related to your cause and solicit support. It’s important to state beforehand that your watch party is a fundraiser to help prepare the audience.
Organizing an online workshop is a great fundraising idea. You can go about this by developing an in-demand skill acquisition program that appeals to your donors. Next, invite a professional that can effectively teach the skill to your audiences and relate the skill to your nonprofit’s mission in some way to help remind people of the essence of the workshop- which is a fundraiser.
Take participants on a tour of your projects or even your office and show them how you operate. Through the virtual tour, you can highlight your works and get them to see the areas you need more support. This method is very effective in making donors see what your nonprofit has achieved and convince them that their donations can also make an impact.
The Future of Virtual Fundraising For Nonprofits
There’s no denying that Covid has rattled many parts of ‘normal life. It’s hard to imagine the way things are used to be. Nonprofits need to evolve how they conduct fundraising events due to this shift by adopting virtual fundraising events that best suit their organization’s mission.
Online fundraisers can offer great opportunities to nonprofits when perfectly implemented by experts. Unlike in-person fundraising events, experience has shown that the cost of organizing a virtual fundraiser is pretty inexpensive. One huge benefit of nonprofits’ virtual fundraisers is the ease of breaking down the access barrier. People from all over the world can easily attend online fundraising events.
However, one cannot rule out the impact of in-person fundraisers on nonprofits. It will help if nonprofit owners blend virtual and in-person fundraisers to optimize outcomes.
The Guest speaker: Simon Scriber
Simon Scriber is a professional fundraising consultant, coach, trainer, practitioner, keynote speaker, podcast host, and co-founder of the Fundraising Everywhere virtual experiences. Simon has won Fundraising Ireland’s ‘Small Budget, Big Impact’ and ‘Supplier Of The Year’ Awards, Eircom’s Start-up Award, and was a 2019 finalist of Charities Institute Ireland’s Communications Agency of the Year. He is a TEDx speaker and has previously won the Toastmasters UK & Ireland International Speech Contest. He also sits on the Advisory Panel of Rogare, the international fundraising think tank, and is a member of the AFP. Simon also offers consultancy to some of the biggest and smallest charities in Ireland and abroad. He offers advice and training to non-profits to make their fundraising more cost-effective, speaking regularly at international conferences. He holds a Diploma in Fundraising and a Certificate in Fundraising.
More About The Host Stephen Halasnik, Financing Solutions
Stephen Halasnik is the host of the popular, The Nonprofit MBA Podcast. The Nonprofit MBA podcast’s purpose is to help nonprofit leaders. Stephen is the Co-founder and Managing Partner of Financing Solutions, a leading provider of loans for nonprofits in the form of Lines of Credit to nonprofits. Stephen is a best-selling Amazon author and is considered a leading authority on building great, purpose-driven businesses. Stephen lives in New Jersey with his wife, Gina. Mr. Halasnik’s number one purpose is raising his two boys, Michael and Maxwell, to be good men.
10% of profits from Financing Solutions is donated to charity.