In 2020, the fundraising landscape has been both unconventional and challenging for many nonprofit professionals. As we move forward from crisis-focused activities, there are opportunities to hone your strategy and plan for the future.
If you’re revisiting your fundraising approach, you may want to draw on some more creative tactics to reach the top of your fundraising game.
To execute an effective fundraising campaign, you should:
- Remember the middle donor.
- Seek corporate sponsorships.
- Maximize matching gift revenue.
- Ask for a professional opinion.
Ready to learn more about how each of these methods can improve your next fundraising campaign? Let’s get started.
1. Remember the middle donor.
Your nonprofit knows the value of major gifts. These are the contributions that make major campaigns possible and fund your largest projects.
Many nonprofits focus principally on acquiring new donors through small donations and stewarding their major donors for big gifts. However, don’t make the mistake of considering only major gifts and small donations.
Between new donor acquisition and major giving, there’s a very important intermediate ground of mid-level supporters.
Mid-sized donors “toe the line” as major gift prospects. These are the supporters who may be in danger of staying stagnant in their giving if you do not steward them, but could in the future become even more valuable for your organization.
Ultimately, the best solution is for your nonprofit to find a balance between efforts to grow your donor base, cultivate activities for mid-level donors and steward major prospects.
2. Seek corporate sponsorships.
Generally, these opportunities are a win-win for both parties involved. Your nonprofit receives additional funding, credibility and marketing while the company receives tax benefits and increased visibility.
You can either seek sponsors as specific sources of funding for a campaign or create a long-term partnership. Either way, be sure to conduct plenty of research about potential sponsors and ensure your interests align well before reaching out. A fundraising consultant can help you find and secure the most strategic corporate partnerships for your nonprofit.
Bonus Tip: Once you’re ready to make contact with a potential sponsor, be sure to brush up on essential best practices. If you need a refresher on your letter-writing skills, this sponsorship letter template by Fundraising Letters is a great starting point to craft effective outreach.
3. Maximize matching gift revenue.
Many companies contribute a “match” of some amount for the gifts their employees give to eligible nonprofits. Unfortunately, many of your supporters may be unaware that their employers offer this benefit.
To promote corporate matching gift programs, consider investing in a new software solution. You can find an option that allows supporters to check their matching gift eligibility right through your donation page or choose a fully automated system. Matching gifts can provide a major boost to your individual campaigns as well as your overarching fundraising strategy.
4. Ask for a professional opinion.
There’s nothing wrong with asking for help. Actually, it’s the most effective way to improve your fundraising efforts quickly and effectively.
Hiring a fundraising consultant (a process you can learn more about by in this guide) can help your nonprofit analyze and improve your fundraising strategy, plan a major campaign or train your board members for better nonprofit governing.
Fundraising consultants can help your nonprofit plan an individual campaign and consider how that campaign will fit into your larger strategy as a whole. They can also help you rework your entire fundraising strategy depending on what your nonprofit needs.
If you’re interested in hiring a consultant for your nonprofit, begin your search with this guide to top nonprofit consulting firms. You can read more about the top firms to decide which will be the best fit for your organization.
It never hurts to have a second opinion about something as key to your nonprofit’s mission as fundraising. Before diving in, be sure to run the idea past your board and development committee and make sure they approve of the consultant you’ve chosen to hire.
Your fundraising campaigns are the bread and butter of your nonprofit’s funding for your mission. It’s important to maximize their use by thinking outside the box. These four best practices will help bring your next campaign to the next level.