10 Essential Strategies to Increase Revenue Streams:  Here’s How To Diversify Your Nonprofit Fundraising Efforts

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As the world continues to evolve, it’s clear that an agile ability to adapt has become vital for nonprofits to stay engaged with supporters and stay on mission. With emerging technology trends, nonprofits need to take an adaptive, diversified approach to not only how they interact with their supporters but also how they raise funds for their mission. 

So where does a nonprofit even begin? Developing a plan to diversify fundraising efforts can be formidable for nonprofits of all sizes, but FrontStream is here to help. To get you started, we’ve laid out some essential strategies to increase your revenue streams.

 

Get Started On Diversifying Your Nonprofit’s Fundraising With These First 5 Steps:

 

Circles 1Develop a Hybrid Event Strategy

Did you know that 68% of event marketers report a hybrid solution will play a key role in future event strategies? And that 62% of event organizers plan to keep a virtual audience once live events resume? Most people are longing for human connection and to participate in-person events, but in order to appeal to all of your supporters’ needs, taking the diversified approach that combines in-person and virtual, flexible, hybrid events can capture greater participation.  Hybrid events also offer revenue stability and keep nonprofits from being overly dependent on one source of funding in tumultuous times. Check out Shriners Hospital for Children and how they created a peer-to-peer event with hybrid options in mind.

Hybrid icons p2p auction

Circles 2 Build Time-Bound Donation Campaigns

 Were you aware that 12% of all giving happens in the last three days of the year? How about that 30% of online giving happens in December? That should signal that time-bound campaigns can be highly effective. Placing a time parameter elicits an urgent, time-sensitive feeling for your supporters to get activated and your donors giving. Tying your time-based donation drive to an event such as Giving Tuesday, Year-End Appeals or any holiday creates a definitive deadline that triggers action by your supporters. These types of campaigns have proven, tangible results and build community, engagement and awareness around your organization’s mission. Check out our video on how Panorama Campaigns,  can help your organization  create  unlimited, branded time-bound campaigns and donation pages with ease.   It's the perfect way to engage and personalize the giving experience for your supporters.

 

Circles 3Rollout Digital Engagement Plans

It’s true, digital engagement plans absolutely drive results. For example, one-third of online revenue is generated from emails. If you want to maintain the close-knit and credible relationships that help your mission succeed, digital communication and engagement are a must. This can come in the form of targeted emails, social posts and texts that help keep supporters up-to-speed on important event and registration dates as well as the ongoing impact of your nonprofit’s work. Being thoughtful in the frequency and quality of your communications plan is also crucial and make sure with positive engagement and opportunities to get involved and communicate how donor funds will and are being put to work. Watch FrontStream's on-demand video to learn how Panorama's Engagement Tools can help you plan, execute, and automate targeted communications with your donors and participants to promote your event, recruit donors and raise more for your organization. 

engagment

 

Circles 4 Set-Up Monthly Giving Programs 

Monthly automatic recurring programs translate to bigger donations -- up to three times more than one one-time donors, in fact! If you’re after a sustainable source of revenue in an unstable world, monthly giving programs can help keep your mission funded. Your nonprofit can weather any storm when you engage your supporters to sign up for monthly giving through beautifully branded donation pages that feature testimonies of how your organization is making a tangible, positive impact for your constituency. Learn how to build your own monthly giving program with FrontStream’s eGuide, How to Build a Monthly Giving Program.

 

 Circles 5Use Technology And Data To Your Advantage

Technology has created a fundamental paradigm shift for how we conduct our everyday lives. Your nonprofit operations shouldn’t be any different. Embracing data and technology as tools can help you understand where, why and how you achieve fundraising success. But, you’ll need an intuitive dashboard that’s easy to comprehend and collates all of your supporters’ data. This will create highly valuable and actionable insight for your success by helping you understand more about your donors from the data collected. With this data, you can also offer a customized experience that engenders loyalty to your mission. Don’t take it from us, check out how the nonprofit Leucan used data and technology to get real world results!

data and tech 1

 

For the remaining, vital 5 strategies on how to diversify your fundraising efforts, download our complete guide: 

Ten Smart Ways to Diversify Fundraising Efforts

 

Diversifying your fundraising efforts is not only prudent for the success of your mission but secures your future ability to do more good in the world.  At FrontStream, we are committed to helping nonprofits further their missions by providing innovative technology and insight that fuels success, even in uncertain times. With FrontStream, you can leverage online fundraising activities and data to raise more through our all-in-one, easy-to-use platform, Panorama

With Panorama, you’ll get these highly valuable features that will help your nonprofit diversify your fundraising efforts and do more good:

  • Accommodate Different Types of Giving
  • Reach Donors Where They Are
  • PCI Level 1 Compliant Payment Processing
  • Enterprise-Ready and Scalable
  • Advanced Data and Analytics Dashboard
  • Easy-to-Navigate and Intuitive Interface

Diversify Your Fundraising Efforts Now

 

Citations:

Everything You Need To Know About Planning Hybrid Events

10 Must-Know Stats About Online Fundraising

20 Must-Know Fundraising and Social Media Stats

 

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