It’s a new year, with new opportunities for nonprofits to manage the unprecedented challenges still looming from a post-covid reality. The need to adapt has never been more critical. Traditional fundraising methods are less reliable and sustainable, as evidenced by shifting donor behaviors and preferences. As we navigate through 2024, it's clear that the future of nonprofit fundraising lies in leveraging technology and social media.
The Shift in Fundraising Dynamics
The pandemic has irrevocably changed how we interact, shop, and contribute to causes. In this digital age, people have come to expect seamless, convenient experiences in all aspects of life, including philanthropy. Nonprofits are now competing in a broader digital landscape, not just with each other but with every brand vying for attention online. This competition necessitates a strategic pivot towards building authentic connections in the digital spaces where potential donors spend their time.
Technology: The Cornerstone of Modern Fundraising
Embracing technology is no longer optional for nonprofits seeking growth and sustainability. It's a vital component of modern fundraising strategies. Courtney Bugler, CEO of Zero Prostate Cancer, highlighted this necessity at a recent nonprofit conference. She stressed that daily innovation within organizations is crucial to keep pace with for-profits.
When asked by a speaker, what is stopping nonprofits from matching the pace of forprofits in embracing technology, she said simply, “It’s us! We are holding ourselves back instead of pushing every day to change our organizational mindsets and the industry.”
Nonprofits must harness data and technology not only to stay relevant but also to thrive.
Using Data to Make the Case
Truly embracing innovation, not just talking about it, will require organizational change.
It’s a hard thing to do.
That’s why Leading with data to make the case for new investments, new hires, new partners, and new technology will become even more important moving into the future.
- According to the M&R Benchmarking Report, 59% of Gen Zs are inspired to donate to charity by a post they saw on social media and social media posts were the #1 drivers of charitable giving in 2021.
- The 2023 Global NGO Online Technology Report indicates that 72% of nonprofits find social media effective for online fundraising.
- According to the Digital Fundraising Report 2023, digital giving grew by 12.1% over the past year, emphasizing the importance of an online presence.
- A survey conducted by Nonprofit Tech for Good revealed that 68% of nonprofits plan to increase their investment in social media.
Embracing Change for Future Success
The nonprofit industry needs change agents, individuals, and organizations willing to boldly advocate for future-forward strategies.
This shift involves moving beyond traditional methods and embracing innovations that resonate with today's donor base.
For many, this means a significant cultural shift within their organizations, prioritizing long-term investments in technology and digital strategies and being honest about the effectiveness of legacy strategies.
Real World Missions, Real World Results
- A case study on the The Trevor Project outlined how their team drove nearly 23,000 new leads that resulted in $1,300,000 in fundraising revenue through a Challenge on Facebook.
- Another example is Make-A-Wish, who added 10k+ new leads, $215K+ in new fundraising revenue, and saw a 196% ROI when they ran a Challenge on Facebook.
- One last highlighting social network engagement: Stop Solider Suicide was able to realize an 89% open rate, 30% CTR, and a 240x engagement boost in a campaign supporting their Mission Daybreak award.
Join the Movement
As we continue to navigate the post-Covid world, the imperative for nonprofits to evolve and adopt new technologies is clear. The future of fundraising is here, and it's digital. By embracing social media and technology, nonprofits can open up new avenues for growth, engagement, and sustainability.