Top 5 Trends in Fundraising for Nonprofits in 2023 (so far!)
As we move through the first quarter 2023, the world of fundraising for nonprofits continues to evolve and adapt to new technologies and trends. To stay ahead of the curve and maximize your fundraising efforts, it's important to stay informed on the latest trends and best practices. Here are five of the top trends in fundraising for nonprofits that you should keep an eye on this year.
1. Increased Focus on Digital Fundraising
In recent years, we've seen a significant shift towards digital fundraising, and this trend is set to continue in 2023. With more people turning to the internet for communication and commerce, nonprofits must have a strong online presence and utilize digital channels to reach potential donors. This includes leveraging social media, email marketing, and online giving platforms to drive donations.
2. Growth of Peer-to-Peer Fundraising
Peer-to-peer fundraising has become increasingly popular as a way for nonprofits to engage and mobilize their supporters. This fundraising model allows individuals to create their own fundraising campaigns on behalf of the nonprofit, leveraging their personal networks to drive donations. According to a study by Blackbaud, peer-to-peer fundraising campaigns raised in the multiple billions (up from only millions just a few years prior) and are expected to continue growing in the coming years.
3. Emphasis on Donor Engagement and Retention
Donor engagement and retention have always been important in fundraising, but they're taking center stage in 2023. Nonprofits must focus on building strong relationships with donors and keeping them engaged and invested in their mission over time. This includes providing meaningful opportunities for donors to get involved, regular communication and updates, and recognizing and thanking donors for their support.
4. Use of Mobile Technology and Mobile Giving
More and more people are using their mobile devices to browse the internet, make purchases, and engage with organizations. Nonprofits must prioritize mobile-responsive design and ensure that their fundraising campaigns are optimized for mobile devices. Mobile giving is also becoming more popular, allowing donors to make quick and easy donations from their smartphones.
5. Greater Transparency and Impact Reporting
Donors are becoming more concerned with the impact of their giving, and they expect nonprofits to be transparent about how their donations are being used. This trend towards greater transparency and impact reporting means that nonprofits must be diligent about tracking and reporting on their results, and communicating this information to their supporters.
By keeping up with these top trends in fundraising for nonprofits in 2023, you can position your organization for success and maximize your impact. By leveraging digital channels, engaging and retaining donors, utilizing mobile technology, and being transparent about your impact, you can build a successful and sustainable fundraising program.
Want to keep up to date with the latest philanthropy knowledge and trends? Join us at our upcoming fundraising conference where we will cover fundraising trends, industry knowledge, trainings, and so much more. All designed for you to level up your fundraising and skyrocket your donations.
