4 new fundraising ideas for charities to raise more
Summer is coming, and even if at this time every not for profit organisation is already planning their Christmas Campaign, it is also the time to start thinking and planning next year’s budget and fundraising strategy. It is the perfect moment to keep an open mind and get inspired by new ideas to be ready for the future.
The point of this article is to push you to embrace innovation, think outside of the norm, and find ways to collect more donations for your cause. Starting from the newest and ending with something already quite established, here are 4 ideas to get your creativity flowing:
1. Join the Metaverse
We know what you are thinking: there are a lot more important things than the Metaverse. But let’s start with the basics and try to understand: what actually is the Metaverse?
Quoting from Wikipedia, “In futurism and science fiction, the Metaverse is a hypothetical iteration of the Internet as a single, universal and immersive virtual world that is facilitated by the use of virtual reality (VR) and augmented reality (AR) headsets. In colloquial use, a metaverse is a network of 3D virtual worlds focused on social connection”.
We are talking about a parallel world that is going to merge our real life with the digital one. In the metaverse you can attend a concert, go to the bank or even meet with the government.
The not for profit sector is not yet there, but this is already a complete world with good and bad things. What are the opportunities for not for profit organisations within the metaverse?
It can be a platform to advertise, raise awareness and raise funds. You can create a more immersive experience in the Metaverse. Nike, Balenciaga, and Louis Vuitton have revolutionized the way they advertise and target Gen Z.
Can you envision a parallel world where your donor base and potential donors can become directly involved in your project? Take them to a disaster zone. Let them go directly to the field. Enable them to interact with the beneficiaries. Give them the opportunity to experience the impact of their support.
It might seem very far, but the parallel world of the Metaverse is just around the corner. The best thing you can do for your organisation is: buy a headset, experience the Metaverse as a team, and brainstorm.
2. Gaming for good
That fact that the gaming industry is something not for profit organisations should pay attention to is not news, especially since it reaches a new and younger generation of donors. (Read more about how to reach Gen Z here) However, charities are still just dipping their toes in this area, and have yet to dive into its full potential.
Let’s start with some interesting numbers. In 2020, the gaming industry had a value of 175 billion dollars (more than double that of music and films all together!) and analysts say that is going to be around 250 billion dollars before the end of 2025. We are talking about 3 billion gamers around the world.
How can this be useful for charities? Well, gamers are now more familiar with fundraising. Streaming platforms, like Twitch for instance, are created to allow gamers and streamers to get money for their content from the audience, and the audience is the supporters/donors.
Take this amazing example of a gaming marathon in France, Z event, that raised €5,7 million in 2020 for Amnesty International France, and each year chooses a different charity to endorse. So why don’t we create more tournaments, or fundraising events through these channels? A lot of organisations are already investing more in gaming. Amnesty International UK, for example, created a page only for gamer supporters, and AISM Italia created a gaming event dedicated to raise money for research.
3. Peer-to-Peer Fundraising
When presented with the two previous fundraising options, peer-to-peer fundraising may seem like a slightly old-fashioned way to raise funds. It is common to use social media to fundraise nowadays. Facebook, for example, has shown it can be quite a powerful tool. However, some markets and charities are still hesitant to use this approach for their fundraising efforts.
So we're not going to repeat why it is important to create a strong community, but we will give you some great reasons that should persuade you if your organisation has yet to include peer-to-peer in its fundraising mix:
- You can quadruple your fundraising goal during events. According to The State of Modern Philanthropy 2021, “The median amount raised by events in which attendees raise money on behalf of an organisation through peer-to-peer fundraising pages, typically is 4.5 times greater than ticketed events.”
- You can do more, with less resources: With a peer-to-peer fundraising platform, you are allowing your supporters to raise funds on your behalf, and in turn they reach out to their network to appeal for donations. They take your cause into their own hands and create an exponential effect, since your fundraisers will spread the word, and raise awareness to reach their goal. The Digital-First Peer-to-Peer Fundraising Study found that peer-to-peer increased revenue by 30%.
- It is a good way to engage GenZ. This younger generation is all about taking matters into their own hands. They are digitally native, being surrounded by social media and learning how to leverage its power at a very young age. They quickly rally behind causes that resonate with them and know how to mobilise their peers with the post of a video or image. Peer-to-peer is the perfect approach with many possibilities to reach these potential donors. Have you ever thought about a gaming peer-to-peer event?
- You will create a more meaningful introduction with new donors. It’s not your organisation that is going to engage new donors, but instead someone that is already committed and believes in your cause. They become your ambassador and involve other people through trust.
- The snowball effect. By giving your supporters many fun and captivating ways to be involved, a new donor this year may become a new fundraiser next year, bringing with them a whole new network of potential donors.
Do you really need other reasons to start including peer-to-peer in your fundraising plans?
If you still need some inspiration and want to read more about peer-to-peer, take a look at this article, with examples of successful p2p campaigns by Oxfam Trailwalker, Red Cross Denmark, and others.
4. GivingTuesday
American traditions, such as Black Friday and Cyber Monday, have been adopted in Europe. However, GivingTuesday still requires more support. Why? The first two successes are linked to the companies that opt to adhere to these "traditions". They use these ideas to increase their sales.
So the only way to create a strong tradition around GivingTuesday is for charities to follow their lead, and after all these days of shopping, use the echo to promote generosity, and leverage donor awareness, gifts and loyalty.
When it comes to the size of GivingTuesday, we are not talking about peanuts. In 2021, in the US alone, charities raised 3.1 billion dollars. GivingTuesday falls on the Tuesday right after Thanksgiving each year, which means you still have plenty of time to plan a campaign around this day and boost your fundraising before the end of the year. Want to know how? Read our article: boost your end-of-the-year fundraising on Giving Tuesday!
The purpose of this article was not to explain each idea thoroughly. Rather, it was meant to serve as a source of inspiration and ideas for the fundraiser. The world is moving out there, and it is digital. To raise more money it is necessary to test, try, and be ready for innovation.