Nonprofits have costs, just like any other organization. They must pay rent, energy bills, salaries, expenses, and much more to function. However, some can’t use conventional means to generate the revenue required to meet these costs.
Many rely on donations from generous contributors to meet their expenditures and satisfy their mission statements. Technology is proving to be a cost-effective way to maximize fundraising efforts. The right fundraising tools can help nonprofits:
- Find efficiencies in their fundraising campaign.
- Reach more donors.
- Generate greater revenue.
- Motivate staff, volunteers, and donors.
Here are some examples of how technology can help with nonprofit fundraising:
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#1 CRM Fundraising & Donor Management Software
Constituent Relationship Management (CRM) software is an essential tool for nonprofits. It helps them optimize workflow and productivity and manage relationships with key constituents.
Some nonprofit CRM software also features donation management software that helps you reach your fundraising goals with the following features:
- Special communication tools that allow you to engage supporters and develop relationships that fuel long-term support.
- Donation web forms, smart campaigns, and automatic receipting to help you expand your donor base.
- Dashboards and reporting tools with fast feedback on campaigns to help nonprofits generate more revenue.
- And more.
#2 Fundraising Thermometer
A smart thermometer is a visual aid that nonprofits can use on their websites to motivate volunteers and donors in fundraising campaigns. Not only does this graphic show goals for a fundraising campaign, but it also updates as funds roll in. As the meter creeps towards its goal, volunteers usually strive harder to hit the next milestone. Likewise, donors may feel more invested in the campaign and offer repeat gifts.
To use a fundraising thermometer effectively, please set realistic goals. The fundraising thermometer can be counterproductive if the objective appears unattainable.
#3 PayPal
Trust is essential in the relationship between a nonprofit and a donor. Unfortunately, with scams and fraud making the news nowadays, many potential donors have a distrust for nonprofits.
That’s why smaller and newer nonprofits use PayPal as an online payment processing system. PayPal is a recognized brand and immediately helps establish trust with potential donors who may be unfamiliar with your nonprofit.
Nonprofits can use PayPal to create a customized donation process. For example, they can add custom links and add themes that match their brand.
However, nonprofits that are new to PayPal should know about the transaction fees. Although these fees are discounted for nonprofits, they can still add up. In addition, PayPal can have a disorganized and convoluted screening process. If PayPal freezes your donations, it may take months to recover your revenue.
#4 Shopify
You probably know Shopify as the renowned ecommerce platform for online stores and retail POS systems. Nonprofits can also effectively use the platform to sell merchandise for fundraising. Not only is Shopify robust but it’s also relatively easy to use. Nonprofits can customize their online shop with their branding to broaden their digital footprint. Fortunately, Shopify offers nonprofits special prices too.
To raise funds in the modern age, you must embrace technology. Leverage powerful CRM features, visual aids, payment solutions, and ecommerce platforms to maximize your revenue and hit your KPIs.
