How to raise funds for your cause in the recession?

As we enter into the first month of the new year, there is talk in the media of an impending recession. In such a scenario, it would be quite difficult to raise funds. Nevertheless, it is not impossible. Let’s see how we could raise funds even if the world faces a recession. One thing to note though, we might need to lower our fundraising targets and find newer avenues to raise funds. In such a scenario, let’s see some strategies you could still use to meet your fundraising targets.

Personalized outreach is more important than ever

With all forms of technology evolving for customized messaging, a bland, generic, and impersonal thank-you email or donation request will only land you in the spam folder. It isn’t that expensive these days to use custom fundraising software that allows you to send personalized messages to your donors through various mediums.

Formulate a donor retention strategy

Just as a salesman has to keep good relations with his clients, you too need to keep constantly in touch with your donors. This is crucial as your donor might only have a limited amount to give, if you aren’t in touch with them constantly, the money may go to other organizations.

Organize in-person events

In-person events would never go out of trend. Fundraisers help potential donors network with each other and give you a chance to get the donations you need. Of course, spreading the word, finding a venue, and marketing the event could be extra challenging in the recession, but you have no other option. If needed, cut corners wherever and whenever you can to help save admin costs and increase the funds you need for your cause.

Use Trust-based fundraising

During recessionary times, people are naturally risk-averse. Though your core donors may trust you, it could be quite challenging to instill that same level of trust in new or first-time donors. In such a case, how do you gain their trust? Well, firstly, you have to show them how and where the funds will be spent along with other details the donor may want to know. If needed, show them all your expense proofs and also share videos and content showing how the money has helped achieve the cause’s goals. If possible, show them around your NGO and let them see things for themselves.

Use Custom fundraising software

Managing a nonprofit may not be that easy always. Sometimes, your funding targets may not be enough to meet your organization’s needs. It is here that you need to start crowdfunding using free custom fundraising software. This will not only save you time and effort but you wouldn’t need to manage a whole lot of volunteers and train them for the cause.

Ensure continuous publicity for your cause

Marketing for your cause is a continuous activity. You have to keep campaigning for your cause to keep it relevant in the minds of the people. You could do this by sending mailers, videos, social media posts, and much more to help people understand what you do and how you’re making an impact in society.

Keep trying to find new donors

Asking for donations is a continuous activity. Whether it is a medical fundraising activity or any other, you have to keep finding new donors to help you reach your objectives. Crowdfunding can help you in this endeavor by quite a big margin, but it may not be enough. You’ve got to continuously spend some time daily to find new donors and interact with them.

In the end

Raising funds for any cause is quite challenging, and with the current recessionary pressure in the world, this is going to be even more challenging. We hope these top fundraising trends and fundraising ideas could help you reach your goal. You would need to use fundraising software like GivingX and tap the crowdfunding space to meet your goals. We wish you the best of luck in your campaigns!