2020 witnessed critical changes to the world of philanthropy. Fundraising, one of the biggest challenges in the nonprofit sector, requires innovation now more than ever. Read on to find out how nonprofit organizations are adapting to the new reality.
Greater Connections Between For-Profit and Nonprofit Groups
Even before 2020, analysts had seen a growing trend of alliances between for-profit and nonprofit groups. The pandemic accelerated that change.
One of the main catalysts of this trend is the increasing social pressure on the world’s biggest and most resource-rich companies to use their immense power for the common good.
As the business closures and social distancing measures remain in place, the need for support from the private sector for the millions of struggling Americans will further intensify.
More Virtual Events
The COVID-19 pandemic has caused ripple effects in every conceivable sector of the economy and social life. Philanthropy is no exception. In 2021, philanthropy analysts anticipate that the biggest fundraising events of the year for many nonprofit organizations will occur digitally.
Of course, the move from in-person to digital events has significant drawbacks. What most people might not appreciate, are the potential upsides to hosting these types of activities and events on the web. Online events can save money on venue costs, lower the bar of admission for those who cannot travel or those with low resources, and break down geographical limitations.
More Social Media Engagement
Increasingly, philanthropy is conducted via the internet, especially on social media platforms like TikTok, Instagram, Twitter, and Facebook. This handful of tech giants occupy a sizeable portion of the average person’s daily life, with some people spending hours a day on social media.
So, in turn, successful fundraising campaigns must have a strong focus on social media engagement in 2021 and beyond to stand a chance for success – there is simply too much content out there to stand out from the crowd and really garner support without effective digital outreach.
More Recurring Online Donations
Nonprofit organizations are more reliant than ever on repeat, regular giving from supporters rather than on one-time gifts. Among the many benefits of this type of donation model, the nonprofit organization must stay “on its toes” in terms of fulfilling its mission and providing deliverables. This increases accountability to donors and provides an incentive to move programs forward as quickly as possible.
Just as it changed everything, the COVID-19 pandemic of 2020 has wrought long-lasting changes on how individuals and groups around the world support and execute important social change.