Breaking Down the Top Nonprofit Fundraising Techniques of 2023
The world of nonprofit fundraising is constantly evolving, and new techniques and strategies are emerging all the time. In this blog, we'll explore the top nonprofit fundraising techniques of 2023 and how you can leverage them to maximize your organization's fundraising efforts.
Asking Our Top Supporters for Major Gifts: This may seem obvious, but it's the top of the list for a reason. 80-95% of nonprofit revenue will come from private major gifts, and if that's not currently the percentage your organization has, your potential for more major gifts is vast! Shifting time and effort into our best and most affluent supporters is the fastest growing trend in 2023 for maximizing fundraising revenue.
Donor Retention Strategies Donor retention has always been a critical component of successful fundraising, but it's becoming even more important in 2023. Nonprofits are leveraging technology to create personalized donor experiences, including tailored communications and customized giving opportunities. Organizations are also focusing on stewardship and recognition, to ensure that donors feel appreciated and valued. It is almost 10 times more expensive to find a new donor than to retain one, so focus on stewardship!
Mobile Giving Mobile giving has been on the rise for several years, and it's only becoming more popular in 2023. With the increase in mobile usage, nonprofits are leveraging mobile giving platforms to make it easier for donors to give on the go. This includes text-to-give campaigns, mobile donation pages, and mobile payment options. This doesn't mean sending out mass spam texts, but simply shifting existing giving to be mobile friendly, where MOST of your nonprofit's web traffic will be these days.
Peer-to-Peer Fundraising Peer-to-peer fundraising campaigns are another popular technique for nonprofits in 2023. These campaigns rely on the power of social networks and personal relationships to drive fundraising efforts. By empowering supporters to fundraise on behalf of your organization, you can reach new donors and increase your overall impact. Building a robust volunteer organization to help your staff fundraise is extremely profitable and costs almost nothing but time to put together
Corporate Partnerships Corporate partnerships have always been a valuable source of funding for nonprofits, but in 2023, they're becoming even more critical. Nonprofits are leveraging corporate partnerships to create new revenue streams, reach new audiences, and increase their impact. Organizations are also focusing on creating meaningful partnerships that align with their values and mission, a valuable source of ongoing and reliable revenue.
These are just a few of the trends in focus of the top-earning fundraising programs. Tools like AI are just emerging as we move through Q1 of 2023, which will become more and more relevant as those technologies mature. By leveraging these techniques, nonprofits can engage donors in new ways, increase their impact, and achieve their fundraising goals.
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