What makes an organization’s fundraising results stand out in this economy? Creativity? Awareness? Some nonprofits are doing significantly better than average. In a recent analysis of the 400 organizations in the US that raised the most money from private donations the Chronicle of Philanthropy noted that 68% of the “Philanthropy 400” expected giving to increase nearly 5% in 2011.
Effective Fundraising with Social Media
One of those organizations achieving steady increases in support is the American Society for the Prevention of Cruelty to Animals, which increased its contributions by 10.2% to $111.3 million in 2010 and expects another increase of at least 10% in 2011. One of the reasons for the increase is attributed to the organization’s aggressive use of social media tools. While difficult to tie fundraising results to social media, the ASPCA notes the traffic driven to the website and the increased online donations.
We’ve taken an in depth look at what the ASPCA is doing on one of their social media channels and outlined what they are doing that leads them to this kind of fundraising success. You can check out the info and apply those techniques to your own organization’s efforts. Sign up for breaking news about fundraising with social media here. You’ll also receive an invitation to the first module in the series for free! Just for being an innovative user of social media for your cause and joining the list!
Online giving has been the focus of scrutiny for some time. Cygnus Applied Research noted 2010 to be the ‘tipping point’ for online donations with 50% of donors conducting at least one gift online. Further research showed that 1 out of 3 donors over the age of 65 gave online, challenging the perception that older donors respond only to older technologies.
So how do you use social media tools to drive online donations?
A recent craigsconnects InfoGraphic showed that, in the top 50 nonprofits by earnings, it’s not success in followers, friends or tweets that correlates to organizational net worth, but the fostering of conversations and interactions that creates the successful use of social media. These are the interactions that increase traffic to your website and your compelling message for support. Once they are at your site be sure you have made it easy to give online. Get the scoop on successful online fundraising techniques by signing up for more information about fundraising with social media here.
Social media can play a role in donor retention.
Penelope Burk notes “More than 90% of donors who start giving to a particular charity stop giving within five appeals, and 65% of those who make a first gift never make a second. Getting donors to give for the first time is expensive; so the only way to make fundraising profitable is to retain donors long enough to overcome the high cost of their initial acquisition.” One thing that donors crave is communication of meaningful information such as the results of what has been or what is being achieved with donors’ contributions. Social media offers an effective and low-cost method of sharing those results.
Invest the time in creating an integrated social media and online giving strategy.
Be sure to keep in mind a “traffic pattern” that will connect social media followers to your call to action and your donation buttons. Ask the questions: How is your nonprofit using social media? Do you have a specific cultivation or stewardship plan in place for contributors to keep them involved and engaged with your work? What role does social media play in the cultivation and stewardship of your donors? Your donors will thank you!
We’ve developed some great tools to help! To get your social media strategy top notch and raising funds successfully for your cause we’ve included our 10 Step Guide to Developing your Social Media Strategy as a special bonus when you sign up for the Fundraising with Social Media series. Using this guide you’ll be able to take all of the different social media channels you need and put them into a cohesive action plan to build your cause’s supporters, volunteers, advocates and yes, funds. It’s a great way to get started setting up your social media fundraising activities or to further refine your existing Social Media action plan.
So get the tools you need for your cause to be heard above the chatter. Sign up for more information about the Fundraising with Social Media series here! Can’t wait to share!