10 TOP TIPS FOR FUNDRAISING IN THE COST OF LIVING CRISIS

We’ve created a series of webinars about fundraising approaches that can counteract the economic challenges of the year ahead. Here’s an overview of strategies to dispel the gloom as the new year gets under way.

1. Make a clear case

When people are predicted to hold back on giving, it’s crucial to clearly communicate what you’re trying to achieve. Focus narrowly on your reason for being, and you’ll state your case in a way that connects with and converts potential donors.

2. Know your audience

Now’s the time to invest in insight to ensure you know your key audience. You can’t be all things to all people, which waters down your target supporters. Who’ll be most likely to back your cause? That’s where to place your bets.

3. Relevance is key

People tend to look closer to home when considering donations during hard times. Not every cause may feel aligned to cost of living issues, but it’s likely you can find relevance in a broad issue and tailor it to core supporters.

4. Put existing donors first

Make donors loyal and they tend to support an organisation for longer. Maximising interactions with existing supporters is therefore vital; whether asking for additional donations, voluntary help, or simply communicating donor impact to build long-term commitment.

5. Offer flexible giving

Consumers now expect to donate however much they want. To maintain your supporter base, offer methods of giving that suit them; even if that means a temporary reduction to their gift, which can be reversed later.

6. You’ve got mail (again)

Email’s making a comeback as a channel of choice and a continuous reminder of your cause. Formatting messages for mobile is key. So too is personalisation, but that must go beyond name and subject line. What else can you use donors’ data for?

7. Cash isn’t king

All charities should aim not just for frictionless giving, but for invisible payment. These remove the transactional feeling - the supporter needn’t reach for their card or punch in their number. Donations via payment wallets are a growing solution according to?goDonate data.

8. Widen your comms

Make sure you’re not reliant on one channel, product or income stream. The overall value of a donation actually dropped between 2017 and 2022 (due to inflation) so new ways to build revenue are needed.

9. Pledge now, pay later

Many charities benefit from the prospect of future donations. Legacies are the Klarna of fundraising, where a donor commits to help without the pledge impacting their wallet today.

10. Not everybody hurts

In economic turbulence many mid- and higher-value donors who don’t feel the pinch tend to experience guilt instead. It’s an opportunity to offer specific ways they can support your charity and feel they’re doing something to help others who struggle.