When it comes to raising funds, mobile might be better than music
February 06, 2013
The nonprofit sector is adapting to changes in today's business environment. Organizations are targeting younger consumers who will become tomorrow's primary donors, which means they will need to relinquish some of the tactics that were effective in the past and adopt innovative practices instead.
Although it's not a new concept, concerts featuring popular artists have been used to encourage younger consumers to donate, according to the Nonprofit Times. Benefit concerts can be very successful, but it's not a guarantee that they will deliver the expected results, the source adds.
"The problem with most benefit concerts is that they don't scale well," said Max Lugavere, a founder of the benefit concert series Rockdrive, which features local artists in smaller venues. "To raise enough money to move the dial, massive artists need to be involved, broadcast networks need to be signed on and people need to spend lots of money on expensive tickets for there to be a net monetary benefit for the cause."
Nonprofits might actually have more luck leveraging mobile technology when they are looking to raise funds quickly. Now that one in two consumers has a smartphone, people can easily access organizations' websites and make donations online. In a different take on mobile giving, the World Wildlife Foundation partnered with Digital Spring Mobile and is donating net revenue from 10 percent from call, text and data plans to the cause, according to Bdaily Business News.