Online fundraising for nonprofits is the future. The days of expensive direct mail marketing and lavish galas as primary revenue sources for nonprofits are numbered. Online fundraising is quick, effective, easy and budget-friendly. So, if your nonprofit is waffling over how much time and energy to devote to online fundraising, here’s why you should make it a top priority.
Online fundraising is one of the fastest growing trends in the nonprofit world. According to a 2016 Dunham + Company study, nearly 60% of donors have given to charity online. And don’t think this data is skewed by millennials! Donors between the ages of 40–59 were the most likely age group to donate online. And donors over the age of 60 were just as likely to give online as those under the age of 40. So, online fundraising efficacy transcends age groups.
Why Online Fundraising for Nonprofits?
Direct mail appeals have been a tried and true fundraising strategy for nonprofits from the very beginning. While direct mail is effective with its historically high return on investment, costs continue to rise as printing and postage costs increase.
Online fundraising for nonprofits is effective, while being less costly than direct mail. (No printing or postage, and websites are free to use!) It’s also easier for donors to give online in a few clicks instead of physically dropping a check in the mail or attending an event. And when things are easier for people, they are more likely to do them! Online fundraising for nonprofits means donors with a few seconds to spare at work, on public transportation or waiting in line at the grocery store can make their donation easily in just a few quick steps.
It’s easy to grow your network of donors and potential donors with online fundraising, since it’s much easier to share your fundraising appeal! You can share your fundraiser URL in emails, social media posts and via blog posts and websites. It’s easy for a supporter to copy and paste that link into whatever medium they want to share, and then just press send!
Social media sharing can grow your network exponentially. According to Track Maven, by 2018 the global population of social media users is projected to grow to 2.44 billion, or 33% of the world population. Donors are prompted to share their donation on social media after they give on Mightycause. And buttons on the donation page allow them to easily share the fundraiser across a number of networks.
Nonprofits should allow donors to stay on the medium they’d prefer. This means building consistent messaging and visuals on your direct mail appeals, emails, social media and website, all the places you communicate with your donors throughout the full duration of your most important campaigns. That way, no matter what medium a donor comes to you on they have consistent messaging.
In order to create a multi-channel campaign, you’ll need to start building up your online fundraising program. An easy way to start online fundraising is to consider your campaigns already in place. Do you have a strong Mother’s Day direct mail appeal? Start an online component to that appeal by also creating a charitable fundraiser on Mightycause with complementary messaging (e.g., same donation amounts, same key messages, same visuals, etc.).
Growth And Engagement
Looking to boost your online appeal even more? Grow your donor database through online fundraising. Encourage ambassadors, volunteers, board members and major donors to start a peer-to-peer fundraising campaign on Mightycause. Most studies agree one of the top reasons donors give is because a friend asked them to donate to a cause. According to Dunham + Company, 30% of donors in 2016 donated because a friend asked them on social media. Peer-to-peer campaigns are an effective way to bring in new donors and grow your donor database.
Crowdfunding is also an effective way to maintain engagement easily with donors. Rather than a one-way transaction followed up by a standardized thank you letter, crowdfunding tools help turn charitable giving into an interactive experience. They allow you to send updates about your fundraiser to donors, share on social media and reply to comments. And you can also “like” donations on Mightycause by clicking the heart on the donation. This ability to engage with donors on a continuous basis makes crowdfunding a unique opportunity for nonprofits to cultivate donors.
Mightycause Can Help
Razoo makes online fundraising easier and more powerful for your nonprofit. Use Mightycause and get access to fundraising tools that make sharing easier, a customer support team available to personalize your Mightycause experience, and webinars, training sessions and Guide articles to help you along the way.