The Big Bet
Over the past year, I have heard a common complaint from a few of our nonprofit clients, “We see more fundraising dollars come in from offline efforts, so why should we continue to spend time in social media if they aren’t yielding any dollars?”
While I understand this type of knee-jerk reaction when an organization doesn’t immediately see results from their non-traditional efforts, I have to emphasize the value of online marketing and the investment in social media and here are four, research supported reasons why:
The world is moving online.
While offline fundraising still drives the majority of fundraising dollars, online fundraising is growing and has shown to be a valuable complement to traditional fundraising methods. According to a study referenced on Social Media Today, online fundraising grew 34.5% in 2010 and continues to be the best way to acquire new (and younger) donors.
Invest time in online channels, now. You will increase brand awareness, cultivate new donors and be prepared to raise some serious moolah through online fundraising down the road, as this channel continues to grow.
An integrated approach is more effective
The key to raising more money is to figure out how to utilize offline and online channels together.
While more dollars come in through offline channels right now, there are a few facts you should consider:
- the median age for an online donor is 24-55
- 32% of online donors earn $100K+ vs 18% of offline donors
- the median gift of first time online donors is almost double that of offline donors
This is pretty compelling data that supports the importance of engaging supporters online.
Additionally, the more times your message is viewed, the higher the likelihood that your audience will take action. To do this effectively, an integrated approach is suggested.
Social media engagement begets huge consumer loyalty.
A recent study, done by Constant Contact found that 56% of consumers said they are more likely to recommend a brand to a friend after “Liking” that brand on Facebook. This rule extends to nonprofits, as well.
Social media offers your organization the ability to increase brand loyalty, create a brand “persona” and conduct meaningful interactions with your audience that foster a deeper relationship between your organization and it’s supporters.
Innovation inspires.
Social media and online marketing efforts aren’t just for fundraising. Online marketing strategies allow your organization to illustrate its value through creativity and innovation.
They also offer an opportunity for you to engage with your supporters. No other media channel offers your organization a tool to facilitate conversations with people interested in your cause. Take advantage—pose questions, take polls, respond to questions, give praise, crowdsource content, hold contests, run sweepstakes and engage with other brands.
So what now?
Take the chance, lay your bet down and incorporate social media and online marketing efforts into your current marketing and fundraising strategies. You will see a return.
Those who are willing to bet big in online win. Ten years ago no one wanted to invest in fundraising through email because it was unproven. Now email marketing and fundraising is a required strategy.
While your competitors are still weighing the decision, you can be building your audience and by the time they’ve realized the value, you will already have a base built that will allow your organization to make a bigger impact and increase awareness in the future.
What’s keeping your organization from investing in online?