Jun 1, 2015
Your nonprofit's goal in hosting a fundraising event is to raise money, but how much you collect will be a truer evaluation of its success. To boost the amount of finances garnered, your charity needs a powerful fundraising strategy. Here are three elements to incorporate into your contribution plan:
1. Form a sponsorship committee
According to Fired Up Fundraising blogger Gail Perry, sponsorship is the No. 1 factor in making more money at a fundraising event. A lot of the effort should go into this portion of planning since it has such a substantial impact on the final donation amount.
Forming a committee will ensure that your nonprofit has members dedicated specifically to this part of the overall strategy. To sell prospects on the event, the sponsor team should tap into what big donors and businesses like. They want to be associated with a good cause and have their brand marketed to a wide audience. Allow them to advertise on your event invitations or signage, and make sure the attendees know who your sponsors are. Just as you would persuade typical donors to make a contribution to your charity, the committee must do the same with these benefactor to score those large-scale donations.
Perry advises setting sponsorship goals, allocating the prospects between the members of the committee and make the necessary calls to close the deal. This process must begin well ahead of the fundraising event date to secure those essential sponsors.
2. Set a strict budget
To maximize the impact of donations, set a budget and stick to it. Of course, you have to spend money to get it, but strictly adhering to an amount will help ensure that your nonprofit doesn't put more finances into the charity function that it will get out of it. The budget should outline every single aspect of the event, from the invitations to the thank you notes. It should also take into account your fundraising goal, making sure that the budget does not exceed the amount expected from donations.
3. Engage donors
Tailoring your fundraising event to your contributors will allow you to better engage them in your cause. However, you need to determine who your target audience is. First, decide who will be invited. Is the event open to the general public, or are you sending out the invitation to specific guests? Once you know who is on the invite list, make the charity function relevant to them. For example, if you are inviting past donors, show them how their contributions have made a difference.
Additionally, make the fundraising goal public knowledge. By revealing a specific number, the attendees can better understand what role they play in helping your cause. To allow them to make a contribution through multiple channels, accept donations online and at the event.
Holding a fundraising event can be a great way to garner donations for your nonprofit. Implement these strategies to make the most of your charity function.