Fundraising is not one of NFP Resources’ key competencies. There are others (such as Giving Architects) who specialise in that area.
1 — Digital Marketing is a growing sector, and there’s a need for skills 🕹️
We went hard on the digital sessions, from ‘Revolutionizing Online Engagement with a smartphone’ by Nikki Bell to ‘The Underdog of digital marketing’ by Mamta Bhatt. There is a real wealth of expertise in digital fundraising methods, and with a growing virtual market, there is a need for fundraisers to engage.
We learned that this didn’t necessarily mean upskill — One talk that blew our minds was that by Laura Golland, who showed in the majority of instances, it is more cost-effective for charities to outsource activities to build campaigns, with her example on sending letters to donors.
In short, there is a need for fundraisers to be cognizant of changing behaviours in givers and the use of virtual spaces. People act weird on the web, and there are suppliers already out there that know the tricks of the trade. There is also a need to build beautiful content that tells the story of your cause in a way that meets the needs of your audience.
2 — There’s a need for ‘coopetition’ in the charity sector 🤼
There was an awesome talk led by Zeb Stone on ‘coopetition’ in the charity fundraising space. Here’s how Google defines it.
Coopetition — collaboration between business competitors, in the hope of mutually beneficial results.
It was an amazing idea — imagine a world where charities did join campaigns on the same issue? There are some great examples of this in the humanitarian space (such as the UK’s Disaster Emergency Committee) but less so in Aotearoa. However, a great example acknowledged at FINZ is Oxfam NZ and Mary Potter Hospice for their joint campaign.
Campaigns were the obvious place for coopetition to show up. Still, there is potential in so many areas, from understanding the behaviour of givers to agreeing on who is best placed to implement programmes, it’s an idea whose time has yet to come.
3 — It costs a lot to acquire donors 💸
A fabulous session hosted by Sean Triner titled ‘the true cost of fundraising’, Sean went deep on ROIs, hidden costs, where to invest. It was incredible.
But what got us was the cost of acquiring donors, between $200 — $400 per donor!
What this made clear was that charities need to be willing to invest if they are to expect regular givers, and controversially, willing to hedge their bets on what will work.
The cost estimation takes into account other activities that didn’t necessarily work but could have worked. We found this cost reflects the nature of fundraising as a non-linear event, something that can require multiple turns and events before getting a giver on-board.
The full blog post can be found here
Content (c) CHIVE 2020 reproduced by agreement.
CHIVE: “Aotearoa New Zealand’s first charity market place | Helping Kiwi’s find and donate to causes they care about.” 🌱