The shift from traditional to online fundraising has changed the way we think about fundraising – not just for nonprofits, but the donors themselves. Make the most of your efforts in the new normal by understanding these 5 shifts in donor activity and how they can impact your fundraising strategy:
Donors Are Shifting Younger
The advent of online fundraising is inspiring younger generations to contribute to the causes important to them. 32% of Gen Z have reported donating to charitable cause while 26% of 16 to 19-year-olds volunteer regularly. Meanwhile, millenials are now making up the largest demographic of donators.
These generations have a different approach to donating compared to their Gen X and baby boomer counterparts. They are more apt to donate via mobile, and they tend to donate smaller amounts to multiple causes.
Mobile Donations Are on the Rise
Online donation pages had an average conversion rate of 8% on mobile device last year. However, the number of transactions completed through mobile devices increased by 50%, while the number of donations completed via desktop browsers decreased by 10%.
If your website and donation pages aren’t optimized for mobile, you could be missing out on a huge influx of donations.
Studies show that younger generations are more apt to donate mobily than via desktop as well. Depending on your demographic and cause, mobile could be your main donation driver.
Peer-to-Peer Engagement is Very Popular
Never underestimate the power of peer-to-peer engagement as a fundraising strategy. When people get inspired by a cause, they might want to help by becoming brand ambassadors.
Peer-to-peer fundraising allows for your supporters to share information about your cause with their networks and express what it means to them. This personalizes it in a way that resonates with their audience. Instead of just reaching out to your network, you can get traction from the networks of your brand ambassadors as well.
Donors Are More Data-Driven
In response to the rise of misinformation and “fake news,” donors are approaching their contributions with more scrutiny than before. They’re conducting more research, checking their sources, and are attracted to cold hard data that tells them how important a cause is and where their money is going.
To put another way, donors are now applying some of the most popular for-profit strategies to the nonprofit world.
Donors Are More Socially Conscious
Across all generations, the main reason that people are contributing to nonprofits is because they are passionate for the cause. Younger generations are trying to make their world a better place while older generations wish to make the world a better place for their children and grandchildren.
The pandemic gave us a year at home to reflect on how everything seems to be upside down. As a result, many of us are giving back, volunteering, and trying to make our world a better place.
Determining Your Fundraising Strategy
Online fundraising is progressing – and COVID-19 has sped up its evolution substantially. Keep your eyes out on some of these new trends and curate your fundraising strategy to fit them. By staying current, you’ll likely to see greater returns on your fundraising efforts.