How to Raise Money Fast
Both individuals and organizations, especially NGOs, often need fundraising ideas. They need money but not many know how to raise money fast.
One has to wrap the funding request around a good and trustworthy story. A campaign that needs funding must be powerful and must have an impact on the audiences. Also, the fundraising organization has to be reliable and serious through its journey into the fundraising world.
When it comes on how to raise money fast for a cause, the fundraiser should avoid all those old ideas on how to attract donors. One must be unique and creative, by developing the perfect pitch, and deliver it in the best possible way in front of the potential donors. It can even be helpful if the fundraiser organizes fun and interesting events. The main target is to attract as many people as possible. This is, however, the first step. After that, people who are attending the event must become interested in the cause the fundraiser is fighting for.
Funding is the fuel that all NGOs need. And finding ways on how to raise money fast, for charity, kids, or other causes, can be a challenge. The real struggle is finding the necessary amount of money, at the right time, otherwise, the cause that the “fight” is carried for, could be lost.
Preparing for fundraising is almost as important as the process itself. When it comes on how to raise money fast, creating a solid foundation for raising funds will help an NGO to become more organized and have a better chance of getting future needed money.
The Basics on Fundraising
In order for the fundraiser to raise the right amount of money, they must learn and apply the rules of fundraising success. This way, the organization will develop, increase its level of trust and reliability.
However, the funds one receives, do not mean anything, unless they have a purpose and a clear cause to create more value for the NGO’s image while helping the world.
NGOs need fundraising strategies in order keep their activity moving forward. After all, the term “nonprofit” refers to a tax status, not a viable business model. Every organization must have funds in order to sustain its mission and serve its clients. NGOs, like any other company, must keep a well-organized system, having a detailed planning habit.
There are many opinions and recommendations when it comes to how to raise money fast. Some specialists say it is important to be creative and to learn the necessary skills, to persuade people. Others say one must show their target market that they are serious, and show those potential donors how they can support a specific cause.
Usually, when an organization does not have enough money to carry out its mission, the fault falls on the board’s shoulders. The fundraising activity should be a joint responsibility, for both the board and staff. Some people do not feel comfortable talking about fundraising, especially because of most people’s mentality. There are many individuals that think the money raised by NGOs do not go to their meant causes. Instead those money land in the organizer’s pockets. This is the average mindset of the population.
There are some basic methods on how to raise money fast:
- Annual campaigns.
- Special events. These are also called the organization’s “signature fundraiser”.
- Capital campaigns.
- Planned giving. This secures the organization’s future.
- Auctions, etc.
Every new year brings both challenges and opportunities into the world of fundraising. How to raise money fast it has been and it will always be an important issue for NGOs. If an organization wants and needs a significant amount of money, using social media as a sole marketing technique is not going to be enough.
Important Tips On How to Raise Money Fast
Know the Donors
Organizations Should Educate and Inform Their Donors
NGOs should put an effort into educating their donors because an educated supporter is a happy donor. Education also builds trust and assures the supporters that the money raising process is all transparent. Organizations should stay in touch with their donors, letting them know, step-by-step, all the levels of the fundraising process. Not only that, but supporters should also know how their money are being handled, and even the upcoming results of their contribution.
Help Donors Find Personal Fulfillment
Everyone needs to feel that they are contributing to something important, that they can make a real difference in the world. They can do that by supporting an NGO’s humanitarian cause. People are willing to help fighting for a cause when the fundraiser is coming up with a creative way to show the need for donations.
Talk the Same Language as that of the Donors
NGOs should bring their message down to earth, and talk in real-life terms. If an organization is not able to express its messages in a clear and concise way, people will not understand the purpose of fundraising and will not be willing to donate their money. One must put genuine passion and emotion in the messages that are communicated to potential donors.
Create the “Investment” Idea
NGOs should reinforce the idea to the donors that they are investing in a cause they care about and that they have the power in their hands to change something and make a difference in the world. This is a good tactic to eliminate the idea that fundraisers beg for money.
A Strong Relationship with Existing Investors
The fundraiser should maintain a strong relationship with its current donors. This is extremely important to the success that the organization will have. It is also valuable in attracting new donors. Business and organization success breeds support, along with other behaviors such as transparency, accountability, attention to detail, and analytical thinking.
This is not only boosting existing donors’ trust and support but also shortens the preparation time for new rounds of fundraising, enabling new supporters to better assess the results of the organization. How to save money fast will not represent a problem anymore. It somehow validates the good reputation and image of the organization.
No matter how experienced a company is, will need to have good, reliable lawyers. Hiring them well in advanced and using their expertise will enable the organization to assess ahead of time their knowledge, attention to detail, dedication, and work ethics.
Respecting The Donors
Most nonprofit organization say they care about their donors, but there is no proof that all of them really truly care. The organization’s marketing can say all the right words and tell donors how important they are, but unless they do something about it, donors will not believe them. Fundraisers should go beyond words and practically prove their donors that they are important in the NGO’s well-functioning.
The Main Focus Should Be On Current Supporters
The same rule that normal companies have applies to nonprofits, too. They should focus on their current donors while they also search for more potential supporters. To raise a donation from a new donor costs five times more than to obtain money from an existing one.
How to raise money fast? Simple. Organizations should keep a list with their current donors and should constantly update it. All contact details of the donors are important in order to develop and maintain a strong relationship with them. Letters, phone calls, newsletters, all these ways are good to create a good relation with the donors.
Fundraisers can even involve their supporters by hosting focus groups of their most involved donors.
Preparation Is Key
Preparation is important. Also asking questions is a key element in order for the fundraisers to not miss on opportunities.
Children as Part of the Target Market
Organizations should not ignore children. They have the power to influence their parents, hence, donors. Children have a way to convince grown-ups, which is good for nonprofits. NGOs should let children participate in a show or other event, and parents will turn out in waves to help the cause and support their children.
Asking for A Small Amount of Money
Nonprofits should have a few people from their staff text people from their database, asking them to donate a small amount of money, just a few dollars. This sum will be simply added to their phone bills. This is an example of a smaller campaign, which does not require a big planning budget or time consumption. It can be promoted online, through social media websites, or even by word of mouth.
Placing Events Around Holidays
NGOs should get people to donate a certain amount of money to their special events. They should target occasions such as birthdays and public holidays where it is easy to gather around many people. The key factor here is having many people, at the same time, in the same place.
Valentine’s Day and Christmas are two great occasions for fundraising events. For example, an organization could partner with a local mall to have people purchase certain types of products (Christmas gifts). A percentage of those products’ price would go to charity.
Association with a Celebrity
This is harder to accomplish if the organization is not a big resourceful one. However, associating with a celebrity, even if it is a local one, could help raising a lot of money. This way, the fundraiser mixes fun with the raising money issue.
Using The Power of Social Media
Many times, fundraisers ignore the power of crowdfunding. They might create a portal where people can give toward a certain cause and promote it via Facebook, Twitter, or Google Plus, for maximum impact.
The Fun Part of Giving Money
NGOs should make giving fun. They should develop a specific marketing strategy. Organizations, nowadays, have to do something different in order to get the attention of the donors. And nothing gets people attention more than having a little fun.
Below are some ideas that have worked with various organizations to increase their donations:
- Auctions. Organizations should gather people to bid on art, jewelry, cars, antiques, and more. People love going to auctions.
- Long-distance marathons. Fundraisers should make their raising money event more fun. A marathon makes an excellent public relations event.
- Pledge drives. Nonprofits could host a formal dinner at a fancy hotel, and make the case for their organizations. At a special event, people are more willing to sing up and support an organization.
Mistakes Made by Fundraisers
- Focusing on the money rather than its source. Fundraisings have two important elements: money and donors. Keeping a close and strong relationship with donors can make a huge difference in the way the organization is perceived.
- Not planning ahead. All companies, including nonprofits, live or die by their leaders’ decisions and strategies, so a good plan is important. Time and money are two valuable resources. So are people, and donors are a significant element of the fundraising market.
- Not being coachable and receptive to ideas. Few fundraisers come up with unique, original ideas on how to raise money fast. They should be opened to constructive opinions and feedback, instead. Organizations should either accept advice and implement it or provide a reasonable motive for rejecting it.
The Steps to A Successful Fundraising Event
- Purpose. First of all, fundraisers should decide which cause they are raising money for. Many charitable events have more than just one goal: publicity, networking, etc.
- Fundraising goal. Organizers should decide what amount of money they are planning on receiving, prior to the event. This amount of money should be calculated taking into consideration the expenses that will be deducted.
- Budget. Every fundraising event should have a clear detailed budget list of all expenses that will be required to hold the event. This budget should include staff, invitations, space rental, catering, entertainment, transportation, utilities, and everything else that will be required to make the event a success.
- Target audience. Organizers should establish whom they will invite to the event.
- Set-up. Fundraisers should plan the event well in advance. This includes all the details such as the place where it will be held, what food will be served, what dress code will be required, etc.
- Marketing. Just like a product or any other company, the event must be promoted to the target audience. The supporters must be convinced that the event is worthy of their time and money.
- Sales. Once the event has started there must be some kind of procedure to accept the donations, maybe in the form of the actual ticket sale. Organizers should also decide if there are more than one category of tickets: standard, V.I.P., etc.,).
To sum up, how to raise money fast has always been an issue for nonprofits. However, if they develop a good marketing and organizing strategy, this can take a turn for the better. The most important thing is to make their supporters part of the organization’s dreams. This creates strong meaning in the donors’ lives and lets them know they have a purpose when it comes to making the world a better place.