10 Tips for Fundraising in the Face of COVID-19
The current pandemic will be known as one of the most significant world events and calls to action of our generation. As we process the impact to our health and our economy, life as we know it is changing on an hourly basis. Unfortunately, we cannot tell how this global crisis will ultimately impact the nonprofit sector.
While no guidebook exists on how to raise funds during a pandemic, our team spent the last week discussing strategy with our clients and gathering research and tips from some of the most acclaimed fundraising experts in the world about how to fundraise during times of crisis and recession.
As you navigate these uncertain times, consider these 10 tips:
1. Follow Your Duty of Care
First and foremost, follow your duty of care to your constituents – employees, beneficiaries, donors and yourself – making sure that your actions consider safety and health and do not put others at risk.
2. Postpone Your Events
If you have an event scheduled before August, consider postponing or cancelling it now so that you can maintain as much control as possible over the situation. It is better to postpone the event, if at all possible. Consider creating a virtual event that guests can enjoy at home. Many nonprofits are being creative about bringing their events directly to those who are homebound.
3. DO NOT Pause Fundraising
Whatever you do, DO NOT pause the fundraising activities or appeals that are in progress. Remember that the best way to ensure that your donors don’t give is to not ask. Go full steam ahead and you could possibly raise even more money during this time. As a matter of fact, we have already seen community and corporate funders and individual donors giving at greater levels to some of our clients.
4. Plan for Revenue Hits
Plan for immediate to mid-term revenue hits, especially if your organization is heavily reliant on fundraising events. Adjust your budget accordingly, but now is not the time to cut your fundraising budget. Don’t slash your budget out of fear of revenue being down before it actually goes down. You could unwittingly create an even more challenging long-term financial crisis that will be harder to climb out of.
5. DO NOT Cut Marketing or Fundraising Budgets
This is important enough to repeat. One of the biggest mistakes that a nonprofit can make during a financial crisis is to cut the marketing and fundraising budgets. This will have the greatest long-term impact on your organization, including services. If anything, consider using your reserves to increase your fundraising budget for a crisis appeal.
6. Develop a Crisis Appeal
Especially if you have a strong front-line mission, consider developing an appeal to seek urgent funding to meet your increased need. Determine your fundraising goal, develop your messaging and create a high-touch plan to reach out to donors. Consider ways you can reach donors in their homes. This is a good time to send postcard or letter appeals.
In crafting your appeal, be thoughtful about the language you use. Avoid using language like, “I know you are worried about COVID-19 right now, but please consider giving…” Also, avoid blaming language. Instead, focus on the urgency of your mission work. Talk about how the virus is impacting your mission, how you are responding and how their donation is needed now more than ever.
If your organization is at risk because of lost event revenue, be honest with your donors. “We rely on this event each year to be able to…” Ask your donors to consider supporting you by making an unrestricted gift you can use to meet your greatest needs.
7. Check On Your Donors
Now is the time to call your closest donors to see how COVID-19 may be impacting them. Give your donors personal updates on how the virus is impacting your mission work. Use this opportunity to develop even closer relationships with them. They care about you and you care about them. Lean into that during this crisis. Ask for their feedback and support as you navigate your response to COVID-19.
Make as many personal phone calls as you can. Consider sending two or three meaningful email updates per week. Post daily updates on social media. Invite donors to a webinar or town hall-style meeting to answer questions and share updates.
Corporate donors are the most fickle in times of economic crisis, especially toward event sponsorship. Be sure to call your corporate donors to touch base about how COVID-19 is impacting them. It’s best for you to know sooner rather than later if they are going to pull out of a sponsorship commitment.
8. Launch or Push a Current Monthly Giving Campaign
Ask your donors to consider giving a gift they can afford on a monthly basis. Incorporate a monthly giving appeal into your crisis giving campaign. Include a monthly giving appeal in your thank-you letter. This could be an especially good time to turn event donors into monthly donors to ensure that you never fall into the trap of being overly reliant on event revenue.
9. Ask Grant Funders to Reconsider Terms
Many funders have started reaching out to their grantees to ease grant restrictions, provide more funding or ask how they can provide other support. Reach out to your current grantors and ask for greater flexibility with how you may use their funds.
10. Stay Positive
We found this article from fundraising campaign expert Jerry Panas to be a helpful reminder that while there have been many economic crises over the past 40 years, including short-term downturns in giving to nonprofits from different funder types, giving overall has steadily risen over the long-term. There are actual advantages to raising funds in tough times. Your mission is compelling, and the need is urgent. Follow best practices, and use this time to your advantage to build even stronger donor relationships and focus on strategic fundraising for long-term success.
How can Wise Resource Development help?
We are available to help our clients with messaging about postponing events, developing crisis appeals and overall fundraising consultation and support. We will also post emergency funding opportunities on our website, as we become aware of them. If you are interested in learning more about our services, please use the calendar option on our website to schedule a free consultation.