5 Fundraising Trends for 2023
If you’re looking to fundraise in 2023 here are five trends to focus on, which will ultimately impact your gifting strategies. Each trend highlights key areas for your organization to focus on in order to maintain and strengthen donor relations.
Invest in donor retention for growth. Repeat donors are more likely to stay longer term compared to first-time donors. This underpins why existing donors will be of focus in 2023 to ensure you have the data to understand donor capacity and donor engagement. To succeed in 2023, focus on a donor retention strategy and tools to enable donor retention.
Focus on building community connections. This trend focuses on supporting your donors just as they support you. If you don’t already, prioritize being active within the community by forging nonprofit partnerships and relationships to further build networks of credibility and vitality with other organizations, agencies and community members to understand what’s important to them.
Offer a variety of ways to engage with your organization. As in-person events gain more appeal in 2023, it will be important to offer a variety of in-person and online opportunities to engage with your organization and their cause. Community members and donors will appreciate the option of choice, which will help increase your donor relations and ability to build and maintain community connectedness and interest.
Reduce barriers to participate in gifting by increasing flexibility. Organizations that are able to flex to new ways to raise funds will come out on top in 2023. One way organizations can adapt to changing consumer preferences is offering flexible payment options for donors to give to your cause. Payment flexibility will make it easy and convenient to support your organization’s cause.
Personalize donor communication. To maximize connection with your donors, it will be important to keep donors engaged through relevant and personal messaging to donors. Developing a donor communication strategy will help you answer strategic questions like: How often should I communicate to donors? What specific messages do donors need? What communication channels or tactics are most effective to reach donors? Where is the best ROI to invest stretched human and orgnanizational resources in relation to time spent with social media, news releases, special informational events, etc.
As the environment and market pressures continue to influence donor interest and capacity in 2023, it’s imperative to ensure your organization’s cause is connected to the community and your donors in an engaging way to maximize viability and success.
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