4 Ways to Diversify Your Nonprofit’s Funding
Increasing your nonprofit’s income is always a priority. Diversifying your funding leads to multiple opportunities to increase income and expand your donor base. Consistent and effective fundraising is important for development teams’ overall strategy. Encouraging supporters to invest and participate in your nonprofit’s mission can be done in many ways. Peer-to-peer campaigns, email marketing, monthly campaigns that lead to recurring gifts and 3rd party campaigns are great ways to diversify funding.
- Peer-to-Peer Fundraising
Peer-to-peer campaigns are extremely effective if you are hosting a 5K or golf tournament. Constituents can easily donate through peer-to-peer campaigns and encourage their network to support them by joining their team and raising funds. Creating teams, making donations and volunteering is accessible from one campaign page. Not only is funding being diversified, but your donor base is growing from your constituents’ network.
Pro tip: Empower your teams through education and examples. Give captains the necessary fuel needed to encourage their teams to push for more donations. Creating customized one-pagers with important information could be the difference between reaching and exceeding the donation goal.
- Email Marketing
Reaching constituents through email marketing can increase your online giving immensely. Encourage donors to participate in your 3rd party, peer-to-peer or monthly campaign through email marketing. To take appreciation a step further, highlight your donors whether they are individual or corporate donors. Email marketing is one of the best ways to reach your donors and track their activity. With Giveffect you can tell which constituents are opening your emails, send different messages to different groups, and even track the donations received from your solicitations.
Pro tip: Use email marketing opportunities to call for donors and awareness through storytelling. Also, thank your constituents for their hard work. Intentionality in nonprofit marketing is key!
- Monthly Campaign
Creating monthly campaigns for donors to participate in creates consistent awareness about your organization. Supporters are able to manage the amount of dollars they spend monthly and can re-engage with your organization in unique ways. Monthly giving programs create an ongoing revenue stream for organizations and presents an opportunity for supporters to participate on their own terms. Also, coordinating monthly campaigns leads to garnering recurring donors.
Pro tip: Create a special group from monthly campaigns and reward them for their consistent giving. Discount fees to special events or highlight them in your monthly newsletter.
- Third Party Campaigns
Third Party campaigns are a fun way to get your supporters involved and raise funds on your behalf. Supporters can get creative, raise money for a special occasion and increase your donor reach. Creating customized campaign pages is made simple through Giveffect and can be monitored through your organization’s admin perspective as well.
Pro Tip: Share fun and clever ways for constituents to create and spread the word about campaigns created on your organization’s behalf! Make fundraising an enjoyable and simple experience!
Diversifying your organization’s funding creates opportunity for multiple streams of revenue. Executing these campaigns and having a clear marketing plan helps development teams reach their goals. Want to see more? Schedule a free demo and learn more about Giveffect’s software here.