There are two near-universal qualities that set fundraising events apart from other virtual events, making them worthy of special attention. First, the entire event apparatus itself has to be optimized for donation conversions — everything from the visual appeal and user experience of a given webpage to the payment processing and confirmation experience. The same can be said for all the content marketing leading up to, during, and after the event.
The second factor is seasonalism. All nonprofits are familiar with the pressures of year-end fundraising. Despite the market saturation of consumer ads and competing charities of that time of year, donors are ready to give. It’s part of our culture for a number of reasons. You can’t un-convince donors that year-end is when they should donate. After all, it’s their last chance to do something good – and get a tax deduction for it – in that year.
Aside from year-end, every nonprofit has its own culture of seasonal giving as it relates to their cause. Examples include charity races in the Spring and Summer months (often around a holiday like Memorial Day or Labor Day), where nonprofits encourage their constituents to team up (a.k.a. “team raisers” or “friend raisers”) or go solo in a friendly race competition (running, biking, etc.) where donors commit to a dollar-per-mile scenario for their favorite racer or team.
The onset of the COVID-19 pandemic made many nonprofit organizations turn to virtual fundraising events. Yet as pandemic concerns subsided, the appetite for these events did not. To the contrary, the early adopters of virtual fundraisers are planning their next year-end galas as hybrid events — in-person events with a virtual component. To not do this would be to leave opportunity, and vital donations, on the table.
How Do You Fundraise Virtually?
Fundraising online requires the same amount of careful planning as an in-person fundraiser. There are at least as many variables at play, and not all of them are shared. However, a great starting point is to take inventory of your digital marketing & online fundraising capacities. Tap into staff with knowledge of user experience and conversion optimization. Corral your best wordsmiths and social media marketers. These roles will be essential to curating the best and most effective online experience.
Staff with in-person event planning experience have much to offer in the virtual event production process, too. Just make sure they appreciate and can adjust to the important differences between online and offline fundraising. Make sure they’re teamed up with the right digital thinkers on this project. If you have the budget to bring in consultants and event platform services, make sure you choose those with digital expertise.
Tread thoughtfully when assessing event consultants who started producing virtual events merely as a response to the pandemic. Some run the risk of not appreciating the digital space, where people, especially donors, behave different.
What Are The Most Profitable Fundraisers?
How Do You Engage Donors Virtually?
Cultivating relationships with donors may be challenging if you can’t meet them in person. But, as with all other things we discovered during the pandemic, there are ways to build and maintain genuine connections with them.
Ask Them For Their Advice & Ideas
People typically become more committed to a project if they are asked for their ideas or advice. So, why not ask your donors for their opinions?
First, start small. Get in touch with a few of your supporters, donors, advisors, and even volunteers. Schedule a video call with everyone so you can brainstorm for future initiatives. Include them in your plans and watch their engagement increase.
Offer Insider Access
Make your supporters feel like they are a part of something exclusive. Select a group of people and offer them VIP experiences. Some ideas include a private socially distanced or virtual musical performance, a behind-the-scenes virtual tour to your organization’s facilities, or host invite-only auctions.
Don’t Forget Donor Recognition
Show your donors how much you appreciate them through a well-thought-out virtual event. It can be a philanthropy awards ceremony of sorts or a virtual ceremony for the program participants. You can also acknowledge them on your organization’s website or other promotional materials.
What Are The Benefits Of Virtual Fundraising?
According to some surveys, more than half of donors worldwide prefer to donate online. Online giving is increasing every year. Statistics show a 27% increase in overall online revenue for nonprofits in 2017 compared to the year before that. As more people spend more time online, you might as well be present online, since that’s where their donations are migrating, too.
What Are The Drawbacks Of Virtual Fundraising?
Just like in-person fundraising events, virtual fundraising has its fair share of disadvantages. One, there’s a possibility that donors will give less than the amount they usually would give in person.
Two, although an email campaign is an effective method for raising awareness, reaching your audience, and raising funds from your supporters, some donors may give less than they usually would in person
Online donating may provide donors with the feeling of being removed from reality. While this empowers some people to give more, other people might feel less pressure to give. You always have to account for this possibility.
Another con to watch out for is technical difficulties. You have to make sure that your donation channels are running smoothly all the time. A glitch spells the difference between hitting your targets and barely breaking even.
How Do I Pivot To Virtual Fundraising?
COVID-19’s impact on fundraising has been the number one challenge for many nonprofit organizations. Because of canceled fundraising events, most nonprofits report raising fewer funds than what they initially budgeted for their programs. However, a few are saying that they have raised more than their original target.
So, how do you navigate this virtual fundraising landscape? Just go for it.
While some organizations paused their fundraising efforts, others pivoted to virtual and hybrid fundraising events. Those who have found success in virtual fundraising say that mobile optimization and creative donation options are crucial to engaging a virtual event audience.
If you’re not sure how to pivot to virtual or hybrid, We & Goliath can help. We’ll guide you every step of the way so you can continue hitting your targets not only this year but also in the years to come.
Virtual fundraising will play a significant role in most nonprofits’ fundraising efforts in 2021 and beyond. So it’s best to learn how to pivot now than to figure it out down the road.
How To Implement Virtual Fundraising Ideas
The first thing you’re going to need to implement your virtual fundraising ideas is finding a nonprofit event planner. This person typically has already organized many in-person and virtual events and knows how to put together a meaningful virtual fundraiser to help you achieve your targets.
Next, you will need a solid team. Some of the typical event planning positions you need to fill include the following:
Project Manager – This person is vital to the success of your entire virtual event. They oversee the strategy and design of the event, including logistics. The project manager also coordinates with all the virtual event’s stakeholders. They also typically monitor the event budget and provide the staffing plan for the day of the virtual event.
Registration Manager – As with in-person events, virtual events also need someone to take charge of all things registration, including the registration launch, participant sign-in, data collection, and checking in participants during the event. They are also responsible for ensuring that participants receive their event materials, including items delivered before, during, and after the event.
Sponsorship Manager – This person manages all aspects of the sponsorship process, including sponsorship design, outreach and sales, fulfillment, and post-event follow-up.
Marketing Manager – This person is in charge of marketing the event and coming up with the social media strategy and branding before, during, and after the event.
Talent Manager – If your virtual event has talents, such as speakers or performers, you will need someone to manage them. The talent manager coordinates with the speakers or the performers, including collecting materials or content required for their presentations or performances, coordinating advance recordings, and working with the director during the virtual event.
What Is Hybrid Event Fundraising?
Hybrid fundraising essentially offers you the best of both live events and virtual events. For example, you want to host a gala. You can have half your attendees dress up and go to an actual event venue, and the other half can Livestream the in-person event in the comfort of their homes.
This setup is beneficial not only during this time of social distancing but also in the future when you need to expand your reach. Some of your supporters may live in other states or on the other side of the world. Hybrid events allow them to still be a part of your event.
Although organizing a hybrid event might feel like you’re prepping for two separate occasions, your organization will reap the benefits. And once social distancing ends, many in-person events will continue to include a virtual component for broader audience reach.
Furthermore, virtual events allow you to boost your donor engagement as you can get in touch with them in meaningful ways in between annual or period events. Now is the time for nonprofit organizations to consider both virtual and hybrid events in their fundraising arsenal!
Creative Virtual Fundraising Event Ideas
Here are some examples of virtual fundraising events to get you started.