Insights
We explore the top 10 fundraising tools and channels for charities in 2024 and how they can yield more donations in the coming year
Fundraising tools come and go but charity needs only grow. External pressures, such as the cost-of-living crisis, have led to an increase in demand for services, while at the same time raising the price of utility bills and essentials needed to keep services running.
Charities have needed to innovate in order to stay afloat. They have adopted new tools and new channels, increasing their digital fundraising capacity exponentially since the COVID-19 pandemic, a result of the lockdown restrictions that made in-person fundraising difficult.
But the world of digital fundraising changes all the time. New tools emerge, old ones fade away; charities must keep pace with technological development or risk falling behind. With advances in technology, the way supporters behave online changes – charities must understand more about their donation preferences to make giving as convenient as possible, maximising the funds raised.
A new report “Fundraising in 2024 and beyond”, from mobile fundraising providers Cymba, explores further the advances that have been made in digital fundraising over recent years. It highlights its ten top fundraising tools for 2024, from WhatsApp to AI chat bots, and everything in between. While face-to-face fundraising and direct marketing remain in the top ten, Cymba emphasises the importance of digital fundraising techniques.
“When you consider that 67 per cent of people check their phone within five minutes of starting their day and 85 per cent prefer messaging than a phone call or email, it’s no wonder that the digital world represents so much opportunity for charities,” says the report.
Below, we look at three of those ten fundraising tools and how charities can use them to stay ahead of the curve in 2024.
WhatsApp is a perenially popular messaging app, used by more than two billion people all over the world. Cymba’s report points to its use as a customer service channel and its ability to send updates and marketing messages, with a conversion rate that far surpasses more traditional channels such as email or SMS. Its broadcast feature also allows charities to share messages to multiple contacts without sharing the information of anyone else receiving the messaging, complying with privact while supporting personalisation efforts.
Cymba also emphasises the app’s capacity to aid storytelling, through sending images, videos, and audio messages. “Storytelling is an incredibly powerful tool for fundraising, and WhatsApp enables charities to incorporate all the components required to tell good stories,” the report adds.
Rich Messaging Services (RCS) have been designed to replace the Short Message Service (SMS) and enhance charity messaging capabilities by allowing them to include images, videos, and interactive buttons.
“Examples of RCS being used for fundraising might include showcasing success stories, providing pictorial – and even filmic – updates on a charity’s activities, or even sending even invitations that includes the ability for the recipient to RSVP or even donate directly from the message,” Cymba asserts.
As a messaging function, it is versatile. Unlike WhatsApp, RCS does not require an internet connection to work, instead working across various devices and operating systems without the need to download a specific app. As Cymba notes, “RCS can support chatbots, calls and live chats, and can boost message response rates dramatically by letting users respond with a single tap.”
Charities can also use RCS to send information carousels, such as those seen on social media containing digestible information about a cause or movement. Up to ten images can be included in one message, which, as Cymba points out, “is an economical way in which to convey a lot of information in little time.”
Artificial Intelligence (AI) has been the most talked about technological advancement of the last 12 months, with tools like DALL-E and ChatGPT making the headlines. But how can it support charities in their fundraising?
The answer, currently, lies in chatbots. As Cymba points out, AI chatbots are not particularly new, but their round-the-clock availability and ability to provide immediate answers mean that they can be a useful tool for charities looking to reach more supporters and raise awareness of their mission.
However, according to the report, the biggest advantage of AI chatbots lies in automated donor outreach and donation processing. “Using chatbots to send personalised messages to prospective donors – or simply updating them on key campaigns, events and successes – frees up more time for fundraising teams to invest in other areas of fundraising,” says the report. “Likewise, if supporters can donate via chatbots then this frees up an enormous amount of time that fundraising teams can invest elsewhere.”
To find out more about AI chatbots and the fundraising tools of the future, click below to download the “Fundraising in 2024 and beyond” report from Cymba.
Our courses aim, in just three hours, to enhance soft skills and hard skills, boost your knowledge of finance and artificial intelligence, and supercharge your digital capabilities. Check out some of the incredible options by clicking here.