The digital fundraising landscape is undergoing a seismic shift. Gone are the days of slow-moving, siloed campaigns and one-size-fits-all approaches. ST’s new digital fundraising division, STella! is helping our not-for-profit clients embrace a digital-first mindset so they can grow their revenue faster.
Recent industry data proves it: digital-first organizations are outpacing the average nonprofit by 12.7%. What’s more, online donors are 48% more valuable and are more likely to give a second gift than offline donors.1 This shift to digital-first as the primary form of engagement with donors presents a unique growth opportunity; and with a balanced strategy, it can enhance the efficacy of your offline channels, too.
Here are five ways nonprofit fundraisers can accelerate their digital revenue right now.
1. Start with your digital funnel
In every donor fundraising journey, the higher the donor is in the acquisition funnel, the more expensive it is to convert them into leads. That’s why it’s so important for fundraisers to drive donors down the funnel (not up) with a focus on mastery of bottom-of-funnel conversion (into loyal, recurring supporters) before investing in significant lead generation. Google Analytics and attribution models are key tools in activating this strategy.
2. Optimize your analytics
Optimization is key to maximizing your “Return On Advertising Spend” (ROAS). Tools like Google Analytics are invaluable in understanding which channels are driving traffic and conversions. By analyzing this data, you can allocate resources more effectively, focusing on the channels that deliver the highest ROAS.
3. Think beyond email blasts
Email has long been a mainstay of fundraising efforts—and it will be for years to come. However, many nonprofits are bombarding their donor base with more and more email as a means to drive response. STella! recommends a more intentional approach to email, as well as a diversified communications strategy across multiple channels to balance how you connect with your donors over the long term.
4. Go mobile and social
Many of today’s younger donors are digital natives—and mobile-first. With permission, explore text message campaigns with engaging offers and surveys to connect with them directly on their devices. Social media platforms offer another novel way to accelerate your outreach to help propel more revenue toward your cause.
5. Supercharge your strategy with AI
Artificial intelligence (AI) is making its mark on fundraising. Tools like Performance Max leverage AI to create laser-focused ads across platforms and maximize return on investment. Responsible experimentation with these tools allows you to reach a wider donor audience with pinpoint accuracy while driving data-driven program development to the next level.
The digital revolution is here. It’s time to embrace it.
Philip King is the Managing Director of ST’s new Digital Fundraising Division, STella! With 25 years of digital experience, Philip has spent the last five years generating year-over-year revenue growth in digital fundraising for ST’s non-profit clients. His passion is helping great fundraisers get even better results and sharing his enthusiasm for exceptional digital fundraising. philipk@STellafundraising.com
1 Source: NextAfter, 2024 Benchmark Report
