Best Fundraising Strategies for Non-Profits

Though running a non-profit organization can be rewarding, it can also be challenging, especially when financial barriers arise.

It is essential to continually implement solid fundraising strategies and improvise them appropriately to succeed as a non-profit organization. Non-profits can use several strategies depending on the size, mission, and target audience.

According to research, 63% of donors prefer to offer funds through online mediums like credit or debit cards. Direct mail is in second place, with 16% of donors preferring to pay through this channel, followed by PayPal with 10% and wire transfer with 5%.

However, knowing which fundraising strategy works best for your organization can be challenging.

So, this blog lists some of the best non-profit fundraising strategies to help you build the best fundraising plan and ensure that you have sufficient revenue to go through with your initiatives.

fundraising strategies

What is a Non-Profit Fundraising Strategy?

Non-profits work for a mission that needs them to achieve several short and long-term goals for its success. To fulfill these goals, non-profits need financial strength.

Fundraising strategies for non-profits are strategic plans that can effectively get them the necessary monetary support.

These strategies are not just theories. They are, in fact, a combination of detailed instructions and processes documented on paper to make fund generation for their organization easier.

Why Should Non-Profits Have Fundraising Strategies?

With a well-defined fundraising strategy, non-profits can have multiple advantages, such as:

  • A proper road map for the team- A document with all the processes entailed in it can help the staff overcome confusion and roadblocks.
  • Improvising and learning from past successes- Making important modifications for better growth.
  • Accountability from the team- Rules and processes with several benchmarks to achieve will keep the team on track.

#10 Best Funding Strategies for Non-Profits

1. Leverage Technological Solutions

Using technological solutions that optimize your efforts can significantly improve the efficacy of your fundraising efforts. Analyze your organization’s existing technological tools and identify the problem areas that need an upgraded technological toolkit. You can consider the following solutions:

  • Use CRM tools to manage your extensive donor database and streamline personalized communications. You can also automate processes like donation receipts and invitations.
  • Personalize email outreach and improve click-through rates with advanced email marketing tools.
  • Utilize social media scheduling tools to enhance engagement on your social handles.
  • Use event management software to streamline all your event-related tasks for increasing success possibilities.
  • Use enhanced AI tools to automate contribution processes.
  • Access Machine Learning models to design fundraising appeals, considering crucial donor features like their income, capacity, and background.

2. Focus on Branding

Social media is an excellent channel to establish communications between prospects and organizations. Charity organizations can especially leverage diverse social platforms as funding strategies for non-profits.

Here are some effective tips to make the best use of social media to increase fundraising opportunities:

  • Maintain consistent branding with the same logo, messages, themes, and fonts across all platforms to establish a distinctive brand presence. You can also optimize your branding strategies to align with your objectives and missions.
  • Spend at least 15 minutes daily for each social platform to engage with its specific audience. Reply to their queries, and post comments.
  • Launch peer-to-peer campaigns and encourage people to raise funds on your organization’s behalf
  • Leverage the power of impactful video posts to motivate people to donate. Make sure to include a CTA at the end.
  • Incorporate social sharing options in your website as well as emails.
  • Partner with influencers to spread your message and increase awareness for your mission.

3. Corporate Partnerships

Corporate Partnerships

Exploring partnerships with local businesses and allowing you to tap into a new revenue stream brings you in touch with a whole new host of people who could be interested in your cause.

Matching donations and sponsorships are two ways that corporate partnerships could work. Contacting potential partners like C-level executives and directors from renowned enterprises or decision-makers from small and medium businesses can fulfill your desired objectives. You can reach your desired goals with a considerately segmented and customizable database, as it will assist you in isolating businesses in your geographical area quickly.

4. Optimize Online Donation Forms

Online donation is the most convenient way for most donors. Be it collecting funds at an event or receiving annual donations, online fundraising is preferable. That is why it is necessary to improve your online donation form strategies.

Here is how you can go about it:

  • Customize the donation form according to your brand’s message
  • Encourage recurring gifts
  • Incorporate visual elements
  • Offer multiple online payment options
  • Make the donation forms mobile-friendly
  • Embed the form on your website
  • Include a donate button in your emails
  • Ask your supporters to share the donation form

5. Improve Email Fundraising Strategies

Email campaigns are one of the best fundraising strategies for non-profits. They can be used to give updates about your cause, volunteering opportunities, and, most importantly, sending appeals for donations.

However, asking prospective donors to donate through emails can be tricky and requires a solid email fundraising strategy. You can incorporate the following tips to build an effective email fundraising strategy for your non-profit.

  • Use attention-grabbing subject lines in your email.
  • Analyze the performance of your emails to identify the best time for sending emails.
  • Keep the email simple, and instead of beating around the bush, convey your request directly.
  • Make your CTA easily visible and catchy.
  • Segment your email list and keep it updated.

6. Identify your Primary Fundraising Initiatives

Your initiatives for the year determine the type of strategy you need to implement them. While planning the fundraising strategies for non-profits, note down these points.

  • Select the type of fundraising campaign you are going to launch. It’s ideal to choose the one that has been successful for you earlier.
  • Determine targeted donations from each initiative.
  • Establish a timeline for your initiatives.
  • Identify whether you have enough staff to manage those initiatives or if need more volunteers.

7. Implement Prospect Research Efforts

Prospect research is among the very crucial fundraising strategies for non-profits. To set up personalized requests, it is essential to identify the major and mid-tier donors who might take an interest in your cause.

Use CRMs and other databases to help identify the people who have philanthropic inclinations and positive wealth indicators, such as:

  • Ownership of valuable properties
  • SEC holdings
  • Amount previously donated to charities

Philanthropic inclinations can be signified by:

  • Past charitable activities
  • Political donations
  • Volunteer activities

8. Design your Marketing Strategy

design marketing strategy

To improve the success probability of your fundraising strategies, your marketing efforts should be top-notch. As such, implementing a multi-channel marketing strategy should be your priority. It can help you improve your outreach across:

  • Social platforms, including the top two to three platforms where you have a good presence
  • Email marketing, using a segmented email list for personalized appeals and pitch
  • Your website to engage your supporters and facilitate donation processes
  • Direct mail to establish a more customized form of communication

9. Implement Database Hygiene Processes

Accurate data is essential to all fundraising strategies for non-profits. Updating and cleansing your donor database periodically can ensure that your marketing and fundraising efforts are targeted at the right prospects.

You can implement regular database audits to eliminate inaccurate, outdated and repetitive data. Set data hygiene rules for all staff members to implement regularly.

A clear and accurate database can help you improve your outreach and increase the returns from your fundraising efforts.

10. Measure Key Performance Indicators

measure key performance indicators

Every fundraising tactic can turn futile if you do not track their performance. Determining the top performance indicators and tracking them diligently can help you improve your fundraising activities for better outcomes.

Here are some significant metrics you can pick to measure performance:

  • Average donation amount
  • Email open rates and click-through rates
  • Retention rate of your donor
  • Average number of event attendees
  • Social media engagement rates and impressions
  • Number of new prospects obtained

You can start with a few metrics and gradually increase the numbers and adjust or modify your strategies according to their performance.

Wrapping Up

While many of these tips can refine your non-profit fundraising strategies, combining them and adapting them to your organization’s specific needs will bring you a wealth of fundraising opportunities.

While modern techniques are agile and can enhance convenience, remember to incorporate traditional approaches when suitable or required. With the power of holistic fundraising strategies, you can truly inspire a change in the world.