Fundraising is changing. In the last two years alone, weโve seen fewer donors, dips in generosity, and a decline in donor trust. Modern fundraising has moved past one-to-all appeals; we now have a responsibility to meet evolving donor expectations.
The Responsive Nonprofit Summit brought together industry experts and leaders in the nonprofit sector to discuss fundraising intelligence and the importance of adapting to the changing world.
Panelists in this discussionโ Rapinder Dhinsa, Director of Mass Marketing at Make A Wish Canada; Josh Hirsch, Senior Strategist at Soukup Strategic Solutions; Julia Campbell, Founder & Principal at J Campbell Social Marketing; and Erik Tomalis, Chief Evangelist and Director of Business Development at Virtuousโspoke at length about how to transition our fundraising approach to boost engagement and activation.
Here are the key takeaways:
1. Explore New Audiences and Platforms
There is a need to embrace new audiences, particularly younger donors. Especially if your organization historically holds onto older donors, itโs time to ramp up your strategies to engage younger ones.
As Millennials and Gen Z enter into their prime earning years, there is a significant opportunity to cultivate their support for your cause. Rapinder stressed the importance of meeting younger donors where they areโon social media platforms like Instagram, Facebook, and TikTok.
By effectively utilizing these platforms, nonprofits can tap into a whole new demographic and engage with potential donors. With more and more donors consuming content through their mobile devices, itโs important to ensure that your online experiences are mobile-optimized.
2. Find the Preferred Communication Channels for Modern Fundraising
While digital communication is prevalent in our modern world, the panelists agreed that handwritten cards still hold a special place in the hearts of younger donors.
Erik shared that younger donors appreciate the personal touch and authenticity conveyed through a handwritten card, as it provides a break from the screens they have grown accustomed to. On the other hand, older generations might lean more towards digital communication.
Use actionable insights from your CRM analytics to better understand the preferences of different donor segments and tailoring their donor journey accordingly.
If youโre unsure how donors want to be communicated, panelists emphasized the value of surveying donors to determine their preferred channels. By understanding how donors prefer to be contacted, nonprofits can ensure they deliver messages through the most effective channels. This practice can increase response rates and strengthen relationships with donors.
3. Tell More Stories on Social Media
Social media is a powerful tool for telling stories and inspiring action, and it should be woven into your multichannel engagement plan. People across all generations spend more time on these channels, making them essential platforms to include in your fundraising campaigns. By sharing stories of staff members, volunteers, and beneficiaries, nonprofits can create authentic connections with donors.
There is also a need for ethical storytelling and the development of a framework or policy around it. Nonprofits must ensure that the stories they share respect the privacy and dignity of the individuals involved.
4. Modern Fundraising Requires Testing and Adapting
Fundraising strategies don’t always yield immediate success, but that shouldn’t discourage organizations. The panelists stressed the importance of testing new approaches, being open to failure, and adapting strategies based on the results. Failure should be seen as an opportunity to learn and improve. By continuously testing and iterating, nonprofits can find the strategies that work best for their unique missions and audiences.
As an example, Rapinder shared a case study that demonstrated successful strategies for unlocking new monthly giving supporters. This example focused on UNICEF Canada’s “Paddington’s Postcards” campaign. Parents who signed up for recurring donations would have their children receive a special message each month from Paddington Bear.
This program effectively attracted new monthly donors and achieved high retention rates after the first year.
5. The Role of AI in Modern Fundraising
Generative AI tools for nonprofits, such as ChatGPT, can streamline the content creation process. The panelists touched on AI’s potential in improving donor retention and personalizing interactions. They encouraged organizations to explore AI’s potential in various aspects of their operations.
However, they also stressed the importance of maintaining humanity and emotion in nonprofit work, reminding nonprofits that AI is merely a tool to make their work more efficient and effective.
6. Modern Fundraisers Embrace Change
Modern fundraising in a changing world means meeting new audiences where they are. Nonprofit leaders should embrace new technologies and approaches, such as AI while staying true to their organization’s mission. Panelists encouraged organizations to keep an open mind, remain adaptable, and not be afraid to try new strategies.
If youโd like to explore more sessions from The Responsive Nonprofit Summit, you can watch the full replay here.
