News
7 innovative ways to raise funds for your NGO according to Impact Guru
Although the large majority of funding for NGOs is still done offline, online platforms offering this crowdfunding service are playing an important part in the increasing role of technology within the nonprofit sector
NGOs need funds. It’s as simple as that. Raising them is a different story. With the rise in non-profit competition, gaining funds is becoming a denser marketplace to crack. Amongst the clamour and competition, the smarter NGOs are having to come up with new and increasingly more innovative ways to compete with each other for that ever-important cash. Let’s see what these innovative ideas really mean when we’re standing head on in the fierce fundraising race.
1. Crowdfunding
Although the large majority of funding for NGOs is still done offline, online platforms offering this crowdfunding service are playing an important part in the increasing role of technology within the nonprofit sector. A trend that has taken off globally over the last decade, online crowdfunding is fast becoming one of the most viable sources of funding for social good.
2. Competitions
Smart NGOs are leveraging initiatives and competitions that are being run through various online platforms, fundraising portals or associated bodies. Such initiatives may offer some form of financial benefit for competing in a fundraising challenge, or boast various tax benefits for the participants.
3. Go mobile
It’s no secret that mobile usage is fast outgrowing desktop, the majority of web traffic is accessed through mobile already. Its vital then to maximise the platforms hat not only you’re ready to take donations online, but also that your page is mobile compatible.
4. Tax Saving
To encourage people to donate to good causes, the Indian Income Tax Department allows donors to claim tax exemption under Section 80G on the amount donated to charities and NGOs. This offers a great opportunity for savvy NGOs to capitalise on this and provides a USP to gain donors and draw in funds, particularly around the tax saving season.
5. Jump on the bandwagon
Popular trends and hot topics create a great opportunity for you to capitalise on the talking point and direct the audience towards your cause. Keep a lookout on social media platforms such as Twitter and Facebook for trending topics that you could utilise to point towards your cause.
6. Reward your donors
Give something back to your donors. Not necessarily a free gift, although if you can afford it then giving the option for a small branded item acts as a consistent reminder of your brand to the donor and will work towards building a brand presence. Try partnering with larger consumer brands to finance this.
7. Love loyalty
Don’t forget to nurture the loyalty of repeat donors. Create a reason for them to keep coming back to donate. This might be through loyalty schemes, or encouraging them to donate again by gifting vouchers or coupons. Similarly to above, contact corporates to partner with for this.
Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of the publication
