10 Powerful Fundraising Strategies to Boost Your Revenue and Impact
Explore actionable strategies that not only boost revenue but also solidify your organization's place in the social impact arena. Harness the dual power of income and influence.
FUNDRAISING & GRANT WRITING
10 Powerful Fundraising Strategies to Boost Your Revenue and Impact
In the ever-evolving landscape of nonprofit work and social impact, organizations must tactically implement innovative ways to secure funding. Critically, establishing multiple revenue streams through a layered development approach can provide much-needed fuel to deliver on your mission and provide stability and resilience against any potential stormy financial weather. Here are ten strategies that can give a significant boost to your fundraising efforts and drive revenue:
1. Grants
Continuously research and apply for grants that align with your organization's mission. Consider hiring a dedicated grant writer to optimize your proposals and increase your chances of securing funds. Remember, securing funding is only one step in the process; excel in your reporting delivery, data collection, impact & financial analysis, and intervention representation, and your program will become magnetic.
2. Digital Campaigns
Utilize online platforms, especially social media, to create compelling campaigns. Regularly share stories of impact, using visuals like videos and infographics to reach and engage wider audiences.
3. Recurring Donations
Encourage supporters to set up monthly or yearly donations. Even small recurring donations can accumulate over time and provide predictable income.
4. Corporate Partnerships
Collaborate with businesses for various sponsorship opportunities. Companies often look for CSR (Corporate Social Responsibility) partnerships that align with their values and can offer both monetary support and in-kind donations. Research Employee Resource Groups (ERGs) who are likely to support your cause, who may buy into your cause and champion it within their company.
5. Peer-to-Peer Fundraising
Empower your community to fundraise on your behalf. Platforms like GoFundMe or Facebook's fundraising tool can facilitate supporters to raise money from their networks.
6. Special Events
Organize galas, walk-a-thons, or online webinars. Events can raise funds and increase visibility and awareness of your cause. Large events like these can also receive sponsorships & donations from foundations, corporations, and donors to maximize your revenue.
7. Sell Merchandise
Create branded merchandise like t-shirts, mugs, motivational posters, or calendars. Not only does this generate revenue, but it also boosts brand visibility.
8. Membership Programs
Offer exclusive benefits to members, such as newsletters, early event access, merchandise, or unique content. A tiered membership system can cater to various donation capacities. Or create a sponsor-exclusive membership to foster long-term partnerships and build a community of sponsors that feel connected to your mission and cause.
9. Engage Major Donors
Cultivate relationships with potential major donors. Personalized communication, exclusive updates, and one-on-one meetings can encourage significant contributions.
10. Legacy Giving
Encourage supporters to remember your organization in their wills. This long-term strategy can result in substantial future donations.
Incorporating a mix of these strategies can diversify your nonprofit's revenue streams, ensuring stability and growth. Remember to continually evaluate the success of each approach, adapting and refining your tactics based on what resonates most with your audience. You also want to ensure your strategies "feel right" with you and your team; after all, you don't want to plan to participate in activities that may not align with your ethics and values.
At FirstImpact Partners, we conduct a 360-degree assessment of your organization to determine the funding strategies that most fit your mission, vision, goals, needs, and internal capabilities.
If you have any questions about fundraising, growth, or program sustainability, please contact me at abarcaj@firstimpactpartners.com or fill out our contact form. I would be happy to discuss your questions.
Jake Abarca, MPH
Director, FirstImpact Partners
Revised 9/23/2023
