Are you searching for ways to raise more money? How about reach new donors or activate old ones? Maybe you're trying to get more from existing donors?
Any way you slice it, fundraising is a necessity for most nonprofit organizations. Focusing your fundraising strategy on the right things and optimizing your efforts can produce significant returns. But how do you know what to focus on or where to optimize?
If you've been in the nonprofit industry for a while, you've likely heard that "direct mail is dead" or that offline fundraising is on the decline.
Why?
Because Internet usage continues to skyrocket. Data storage and hardware is cheap. Smartphones are in everyone's hands and social networking online has become an everyday activity for millions of people.
Simply put, the world is going online.
All these elements (and many others) lead one to believe that "going online" is a must. That online fundraising is the way for your organization to break through its fundraising ceiling and raise millions of dollars tomorrow.
But ...
Offline Fundraising is the Bread and Butter ...
90%+ of fundraising revenue comes from offline sources. Direct mail and other offline fundraising sources are still the most effective ways to raise money - by a long shot!
Online Fundraising is about Growth ...
You could argue that if offline fundraising accounts for such a large portion of fundraising revenue in the industry then you should place all your focus there. But that would be slightly short sighted. Online fundraising continues to grow by leaps and bounds. And has done so for a few years now.
It's grown 34.5% to $20+ billion in 2010. And it continues to be the best way to acquire new donors.
What the Data Tells Us ...
They key to raising more money is to figure out how to utilize offline and online channels together. When you do them both well you have an opportunity to increase overall giving per donor by up to 3X that of a single channel donor.
Key Facts:
- Offline channels account for 90+% of all fundraising revenue
- Online fundraising grew 34% and raised over $20 billion dollars in 2010
- The media 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 - $62 VS $32
- Online donors also donate more money over time than offline donors
- 32% of online donors switch to an offline channel in year two
Check out the multichannel fundraising infographic below to learn more about how online and offline giving go hand in hand.
View large version of Multichannel Fundraising Infographic
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Frank blogs about social media for nonprofits at Blackbaud. Make sure to say Hi on Twitter - @franswaa