During uncertain times like recession, small businesses, startups, non-profit organizations, and even individuals need to raise money to support certain causes. Interestingly, fundraising is not easy, and it requires significant efforts, a proper plan, and strategic executiTon so that they can survive the economic recession and raise money for the important causes.
It is possible to raise money in a recession too, but it’s important to make changes in the existing plans to accomplish the fundraising goals in less time. Additionally, during the times of COVID-19, social distancing is necessary, which means it is time to ask for online donations. The non-profit organizations might already have their own donation platforms, but individuals and businesses must sign up for the Most trusted donation platform and increase their reach to supporters while being safe from the coronavirus infection.
Now let’s talk about the best ways to fundraising in a recession period. Firstly, try not to panic during this time as it will not do any good. Try to be motivated and understand the fact that your efforts are needed to make the campaigns successful. In this post, we will share the most effective tips that will help you raise more money during a recession. Let’s begin.
#1 Thank donors and explain where the money goes
Always ensure showing gratitude towards the donors and explain how their money is being used. Donors always want to know how their contribution is supporting the causes they care about. You can tell them the story behind the campaign and send them an update with a thank you note.
#2 Keep in touch
There are several tools available that enable you to keep in touch with your audience. You can try Zoom, Facebook Live, and Instagram Live for this purpose. The best thing is that all these are free to use.
#3 Discover new plans and implement them
Are there any tools and equipment that your organization doesn’t need? If yes, you can opt for selling or donating those. Is there any chance of launching a new social enterprise? You can also talk to the companies and create cause-marketing partnerships with them.
#4 Collaborate with fellow organizations to raise money
In times like the coronavirus pandemic, hosting a virtual giving day is a great idea. You can collaborate with your fellow non-profits that are supporting the same causes as you do and host a giant giving day instead of hosting a smaller one on your own. These types of events help raise more money and capture the attention of a broader audience base.
#5 Focus on donations from corporations
Recession periods may affect the donations from individuals and families, so the non-profit organizations should focus on more giant corporations. The main reason is that charity donations are an excellent way for donors to save on taxes, and hence they should be your biggest target groups.
#6 Never be apologetic
It is understandable that you might become apologetic when asking for charity donations in a recession, but you should never do that. Your tone should be extremely positive, and we would suggest focusing on all the good aspects of the causes your organization supports.
#7 Maintain relationships
Relationships are everything in the non-profit industry, and that’s why you should be trying your best to maintain those relationships. If your loyal donors are not able to donate in a recession, you should not force them, because you can make them feel guilty by doing so. Instead, you should contact them and ask how they are doing, and when you reach them again in the next year, the chances of getting donation money from them are high. The way you treat them during uncertain times can make or break the relationships, so always be polite and show empathy and it will benefit your organization in the long run.
#8 Ask people to volunteer
During a recession, you might come across a lot of skilled people that are out of work or who are working part time. You can ask them to donate their time, efforts, and experience. It will benefit both as they will have the opportunity to serve while gaining experience of working with a non-profit and expand their resume, whereas your organization will utilize their skill sets and meet your requirements to support the community.
For instance, a web developer might help you build a new website or make changes to your existing one. Or, how about a graphic designer who can create social media images to spread awareness regarding your campaigns. But, when the time comes, be ready to help them with your recommendation letters and provide them with the credits in our publications, both online and offline.
#9 Diversify
It is the right time to think about multiple ways to generate income. With your solid and active team of volunteers, you can quickly start a small business. You can open a used bookstore or something similar and generate income that your organization needs to accomplish the goals and support the community in a better way.
#10 Optimize your online efforts
If you have a website, we would suggest optimizing every page so that they bring the users’ attention to the donate button. Always ensure using bold colors for the donate button. It is essential to link those donate buttons directly to the payment page. Never confuse the donor by showing them payment pages that list multiple methods of giving because such pages will distract the donor, and he might leave the website without making any donation. Also, you should browse the Top Fundraising Platforms USA or sites from the country you live in to find more ideas on how to optimize your pages to capture more donations. Keeping an eye on the competitors can do wonders!
Final words
It is the time when your organization has to stay strong and work with more confidence. This time is to rethink while avoiding all the shortcuts as they won’t fetch you any good results. Believe in the power of collective work and keep motivating people to give.
