New strategies for ultra-fast fundraising
June 20, 2013
When launching fundraising campaigns, nonprofits often like to take their time to make sure they can reach the maximum number of donors possible. There does tend to be some time limit on this - many universities try to fundraise over a number of years, while local groups might take a few months to deploy their promotions.
However, there's a new trend emerging. Some nonprofits are hosting lightning fast fundraising campaigns, allowing for donations over a course of just 24 hours. For instance, The Washington Post reported that earlier this month, the United Way attempted to hold a 24-hour giving period online.
The group ran into technical difficulties and had to tweak its tactics, extending the campaign to more than one day, the newspaper detailed. The intent was to ask donors to quickly give a reasonable $10 each in the hopes of raising $2 million. The news source said the efforts failed because the website slowed, as it was processing more than 100 donations every minute.
Wake Forest University recently did something like this, according to the Winston-Salem Journal. The school's campaign was more successful, and ended up garnering $500,000 in one day. To enable this, administrators advertised the project on social media sites by using hashtags and creating a Facebook album of donors.
As foundations tap into emerging digital channels to raise funds online, they can benefit from nonprofit fundraising software that tracks incoming donations and quantitatively measures the success of their efforts.