The Difficulties and Solutions With Raising Funds Online
What are the challenges of fundraising online? Keeping cash flowing into your nonprofit is one of the biggest hurdles you’ll face as a charity. With more people staying home and sponsorships moving to a digital model, additional issues arise.
According to the Blackbaud Institute Index, charitable giving saw a 25.3% increase in the last year. For several years, digital donations rose steadily. Raising funds online seems to be a long-term trend, so figuring out how it works best for your organization helps with cash flow.
The many advantages of online fundraising include lower advertising costs and instant cash influx. However, every nonprofit faces some difficulties when raising money on the internet. Here are the most common ones and how to solve them for your charity.
1. Knowing Your Audience
Before you market your nonprofit online, you must understand your target audience. You can waste a lot of money throwing ads at people who don’t match your typical donor profile.
Take the time to create a buyer persona, so you understand the type of person who gives to your organization. Where do they live? What is their age? Once you’ve laid out all the demographics, take a look at the psychographics. What drives your donors to give to an outfit such as yours?
2. Generating Donor Excitement
Online giving may have the added struggle of getting donors excited about giving.