The ultimate guide to unveil the myths of fundraising.
Fundraising is a method that organizations use to acquire support for their operations and projects. It is one of the main sources of revenue for nonprofit organizations and the most lucrative, but with many common misconceptions that just won’t go away.
Some of the misconceptions have become so ingrained and deep-rooted that they risk discouraging even experienced fundraisers from their goals.
Perhaps you’ve heard some of these myths. Ready to expose them? Here we go.
Myth #1: Fundraising is all about getting cash
While money is the most obvious form of support. Support can also come in the form of people donating time or manufactured goods or food or space or a host of other things that furthers the work of an NGO.
When it comes to money, some donors are willing to give money with no special conditions or requirements attached to it, other donors want to restrict their money so a fundraiser should know precisely the conditions and follow them as there can be legal consequences for not doing so and certainly the possibility for alienating the sponsors.
Myth #2: Statistics are the only things that matter to a donor
Facts and statistics are not the only things that interest the donors. It’s the stories that engage donors and capture their attention. They like to hear success stories about beneficiaries overcoming hardships and difficult circumstances even more. It will help them understand why giving money to a cause is vital.
Myth #3: Raising money is all about knowing rich people
Raising money is about finding supporters to spread the word. A fundraiser must remember that any person who’s willing to support a cause has a family and friends who are potential donors. Eventually the circle will grow and it will get wider and wider until it leads to the wealthy donors.
Myth #4: It’s hard to Get Sponsorship
Searching for sponsors might seem frightening and daunting. But it’s not necessarily difficult to raise money.
In advance of the event, seeking help from family, friends and colleagues might be beneficial along with getting the entire community and local companies involved. Clubs and other organizations could also sponsor events or post about it on social media which will boost and increase chances to finding wealthy donors.
Setting up a Facebook or Twitter page and getting the local media involved helps spread the cause even further.
Myth #5: There is no need for donors’ feedback
Keeping in touch with the donors is critical to the organization success. A conversation with a donor is a chance to find out as much about them. They are the ones that keep the NGOSs going, without them there would be no support and no mission or objectives to complete. So, making the donors comfortable and connected personally to the work along with listening to their stories and knowing their interests is extremely important and the secret recipe to successfully retaining them .
Sending out surveys via email, talking to donors directly during meetings or at events, conducting polls, are additional ways to ask donors for feedback.
Myth #6: Great fundraisers work mostly alone in achieving success
In fundraising, there’s too much work to be done that one can’t do alone. There’s the planning, strategizing and identifying prospect, making contacts, searching for donors, creating pages on social media , keeping the website up to date… It takes team effort to constantly enlarge the circle of donors and keep them updated.
Myth #7: The Internet has changed the rules to do fundraising
No one can deny that the internet has changed some rules, but many things have not changed at all when it comes to fundraising even online. While the internet gives the fundraiser an international presence and helps maintain important relationships with donors without having to travel or mounting a major fundraising campaign, donors still need to be convinced that the work is important and worthy of support.
Things like planning and strategizing, identifying prospects, courting donors, keeping the website up to date, collecting stories, and acknowledging gifts still matter, even when the fundraising is online.
While fundraising is a lengthy and an extensive process, it doesn’t necessarily mean that it’s difficult. Few tips along with team work and patience are the guarantee to a successful and triumphant campaign.