These are challenging times for all. The economic impact of trying to contain COVID-19 is being felt far and wide, but there are opportunities and things you can do.
As a nonprofit serving other nonprofits, Give Back Nation is here to help.
Below are thoughts and insights regarding what nonprofits can do during this challenging time to keep advancing, growing and moving forward.
Events & Virtual Fundraising
With the need for social distancing to stop the spread of COVID-19 being paramount, most events over the next couple months are being postponed or even cancelled. Implementing virtual events and fundraisers can help bridge the gap to a postponed event or even help replace a cancelled one. Vetted Peer-to-Peer fundraising platforms allow and empower supporters to easily help raise money and awareness online. Vetted Online Auction platforms allow any supporter, anywhere to participate and help boost overall bidding for increased fundraising. With so many different tools out there, Give Back Nation can help you navigate, brainstorm and implement opportunities.
Thankfully, grant funding will not disappear during or after this challenging time. Funders are currently surveying the fast-changing landscape and assessing where their funds will have the greatest impact. Some nonprofits will have higher potential for grants because they are or will be working with populations that have been most impacted by the virus. Other organizations are not focused on these currently critical issues. Regardless, now is the time to focus on improving your grant readiness and the ability to compete through components such as high-impact measurable outcomes, well-planned programs and precise budgets. Nonprofits should focus on researching potential new funders and keeping up-to-date with emerging grant opportunities. Vetted Give Back Nation partner Pathways to Growth follows these trends closely and can provide expert advice in these areas and in creating winning grant proposals.
Communication & Engagement
Don't stop communicating. Used efficiently and effectively, social media, email newsletters, texting, phone calls, video calls and direct mail keep supporters updated and they want to hear from the organizations they support. Clear communication is important and having a focus on the most valuable supporters (large donors, monthly donors, board members, corporate sponsors, volunteers, etc.) is key. Say thank you, recognize specific support when possible, remind them the organization is still operational and providing an invaluable service and, most importantly, ask them how they are doing. Now could be a great time to look at how you are communicating and engaging with supporters to enhance accordingly for long-term success.
Learn More About Supporters
Leaving potential donations on the table is a fear of all nonprofit organizations. Knowing a supporters capacity to give can be a game changer, especially during a time like this. Dynamic wealth screening platforms provide the background and financial information organizations can leverage to help maximize potential support. Vetted Give Back Nation partner iWave has been helping nonprofits 'fundraise with confidence' for almost three decades. Their new fundraising software platform sets a new standard in the industry by allowing users to more easily and efficiently identify, prioritize and cultivate donors to raise more major gifts.
Enhance Branding & Story
The branding and story of an organization is critical for success. Websites, logos, mission statements and impact storytelling can quickly create a positive or negative impression for a potential supporter and everything counts. Time, resources and money spent on fundraising and marketing is quickly wasted if dated looking websites or unclear messaging create confusion and loss of respect. Now could be a great time to enhance the branding and story of your organization to maximize opportunities for long-term success.
Planned Giving Opportunities
Once the spread of COVID-19 has been contained, the race to maneuver into the stock market will be swift and the gains many will experience by year end will be significant. As a result, planned giving opportunities will be abundant with individuals feeling even more charitable while looking to offset gains with the charitable deductions generated from these giving tools. Vetted Give Back Nation partner Charitable Capital can answer questions, provide insights and help implement a true planned giving program.
Having a strategic plan helps keep things on track. It's surprising how many organizations don't have a plan. Stepping back, setting goals, laying out the vision and recognizing opportunities can help relieve stress and refocus priorities. Now could be a great time to think through and write down strategies to hit revenue goals this year and also take a look back at the last few years to determine where opportunities might lie ahead. Organizations can reflect, refocus, get out their bucket lists and dream big. Once the virus is behind us, it will be time to set the tone for the future.
The more you accomplish during this challenging time, the better off you will be after it passes. The sun will rise and you are not alone.
As a nonprofit serving and supporting other nonprofits, Give Back Nation is here to help you navigate all aspects of your 'fundraising ecosystem'.
We are happy to schedule a brainstorming call to learn more and discuss opportunities to maximize impact, sustainability and long-term success.
Kyle Gregory, CEO/Co-Founder