Three fundraising innovations for 2024

Remaining innovative with your fundraising is a constant process. While some fundraising techniques are tried and tested and many become staples, others can quickly become stale and fail to generate the same income they once did.

 

Take, for example, the rise of virtual challenge events during the pandemic. Virtual challenge events became a lifeline for many charities unable to fundraise as they would usually, amid lockdown restrictions.  In 2024, physical events have since returned to popularity among fundraisers.  Similarly, charities have witnessed the vast growth of digital donations over the last four years, accelerated by an increasingly cashless society.

 

However, whilst lots in the world of fundraising has changed, one key element has not. The 2024 UK Giving Report, from Charities Aid Foundation, revealed that the typical monthly donation to charity hasn’t changed since 2017, remaining at £20 for the last seven years. The report points to research from Pro Bono Economics that suggests that if the typical donation amount had kept up with inflation, it would be over £25.  

 

One of Charities Aid Foundation’s core recommendations for charities to respond to this issue is making the most of their data.

 

“It’s important for charities to understand the geography of their donor base and charitable spending,” explains the report. “Where possible, charities should explore if there are areas of the country where fundraising could be targeted, or pockets of untapped generosity. National charities should consider where they are distributing funding. They should investigate how far this aligns with the geography of need.”

 

Indeed, there is a clear opportunity for charities to innovate how they fundraise, using technology to transform how they engage their donors, and demonstrate the impact of their donations based on donor behaviours and preferences. Charities must embrace change in order to move forwards. 

 

That’s why Kerv Digital, a technology consultancy and Microsoft partner, are holding a roundtable event for nonprofits, to share valuable insights on how to drive change and embrace the power of technology. 

 

Attendees will hear from WaterAid’s Head of Global CRM Transformation to explore the background of their digital transformation and the challenges they overcame, whilst  having  the opportunity to discuss with their peers how to drive change within their organisation and get closer to their mission. You can find out more about the event here.

 

Here, we explore more about the technology charities need to embrace and how charities can use it to boost their fundraising. 

 

Find out more

 

 

How to switch up your fundraising with technology

 

Artificial Intelligence

 

Artificial intelligence (AI) is one of the most talked about areas of technological advancement in 2024, with generative AI tools such as Microsoft Copilot and ChatGPT becoming more ubiquitous even among the more tech-hesitant. 

 

However, the Enthuse 2024 Charity Pulse report revealed that only 5% of charities are currently using AI to help personalise their donor journeys, while 9% are trialling it.

 

However, as Kerv points out, AI can be transformative for fundraisers, particularly when analysing data. “Through meticulous analysis of donor interactions, charities can unearth invaluable insights that enable them to tailor their appeals to individual preferences and motivations,” Kerv says. “This data-centric approach ensures that fundraising efforts strike a chord with potential donors on a deeper level.”

Charities that tailor their communications to their donors are better placed to keep donors engaged, retaining existing donors and attracting new ones. Personal connection is a key driver behind giving to charity – AI can help charities identify potential donors based on previous donor behaviour, such as what content they have interacted with and how often they’ve visited your site.

“By customising outreach efforts to align with individual preferences and interests, charities can elevate the giving experience, transforming it into a meaningful and gratifying journey for donors,” Kerv concludes.

 

Low-code technology

It is a truth universally acknowledged in the charity sector that new technology that adapts to your needs must be expensive.

 

But that need not be the case at all. Low-code software, described by Kerv as “where simplicity meets power”, can be instrumental for charities looking for technological support to overcome their most unique challenges. 

 

One of the biggest advantages of low-code solutions is their accessibility. “Unlike traditional software development processes that require extensive coding expertise, low-code platforms feature intuitive drag-and-drop interfaces, allowing users to design and deploy applications quickly and efficiently,” explains Kerv. “This accessibility democratises technology, empowering nonprofits of all sizes to leverage cutting-edge tools to further their missions.”

 

Kerv also highlights its automation capabilities, including automating donation processing, which allows charities to maximise their efficiency and redirect resources where they are most needed.

In summary, low-code tools are perfect for the charity sector in their scaleability, adaptability, and low-budget. Low-code tools do not require expensive bespoke development and the subsequent expensive maintenance, but rather, they allow charities to easily customise and extend their own applications according to their changing needs, cultivating stronger connections with their donors as a result. You can read more about low-code solutions here.

 

Thinking ahead

 

One of the core ways charities can leverage technology to boost fundraising is by thinking ahead. Donor behaviour changes over time, as circumstances change; those who are not yet donors may become so, while the opposite may be true of even your most regular givers. 

 

This is why it is vital to use technology in order to get to know your donors and keep them engaged over time. As Kerv points out: “The ultimate goal won’t be solved within a single transaction; it’s an enduring relationship that nurtures change over time. If nonprofits envision themselves as stewards of multifaceted impact, rather than a single act, you will guide donors through a journey that lasts until real change occurs.”

 

Indeed, tools such as Microsoft Cloud for Nonprofits, allow charities to identify trends, predict behaviours, and deliver personalised experiences to their donors that increase the likelihood of their support again in the future. 

 

“By harnessing advanced data analytics, nonprofits can gain valuable insights into donor behaviour, preferences, and patterns. With this knowledge, organisations can tailor personalised communication strategies that resonate with donors on a deeper level, reigniting their interest and commitment,” says Kerv.

 

One of the fundamental factors fundraising and technology have in common is how quickly they change. Charities must embrace that change in order to keep pace.