Fundraising is a critical component of any non-profit organization, and major gift work is one of the most important aspects of fundraising. Major gift fundraising involves soliciting large donations from individuals or corporations to support a specific need or cause. This type of fundraising has seen a tremendous uptick in recent years, as more nonprofits are utilizing this approach to bring in larger donations from individual donors.
As a frontline fundraiser, it is essential to build relationships with these donors and to stay focused on meeting goals and funding essential programs. To do this, you must understand the trends shaping the fundraising landscape and adapt your fundraising strategies accordingly. Here are the top 4 trends in major gift fundraising to watch out for in 2023.
Keeping donors informed
According to studies, 75% of millennials will stop giving to an organization if they aren’t told the impact of their gifts. Keeping donors informed is one of the most important trends in major gift fundraising and is something you must keep at the forefront of your fundraising strategy in 2023.
With social media and digital content more prevalent than ever, there’s no excuse to keep your supporters in the dark. Fundraisers must be mindful of the importance of storytelling and use compelling narratives to engage potential donors and build meaningful relationships. Keeping abreast of these emerging trends can help your organization maximize its fundraising efforts and make a greater impact in the community.
Read more: The Most Powerful Words and Phrases to Use to Ignite Your Fundraising Campaign
Diversifying fundraising methods
The world of major gift fundraising is changing. Fundraisers recognize the need to move beyond traditional methods and embrace technology to reach a larger, more diverse donor base. Take advantage of upcoming trends such as crowdfunding campaigns, text-to-give initiatives, peer-to-peer fundraising platforms, and social media campaigns.
You should also explore donor loyalty programs and other strategies like recurring giving to foster relationships with major donors. Use an online software like MaxGiving to create a fundraiser page and accept recurring donations with ease.
One of the most significant trends in fundraising is the increased use of digital and mobile payments. Fundraising events, such as galas, are increasingly accepting payments through Google Pay or Apple Pay to make it easier for donors to contribute.
Another fundraising trend is the increasing use of matching gifts. Many large corporations offer their employees the opportunity to double or even triple their contributions to non-profit organizations. Fundraisers should ensure that they have the necessary processes and tools to take advantage of these matching gifts and leverage them as part of their overall fundraising strategy.
Fundraisers need to be up-to-date on current trends and be prepared to leverage digital and online technologies to engage donors in meaningful ways. These include virtual events, live streams, and hybrid events. Use these fundraising methods to reach a larger audience, diversify your outreach efforts, and create an engaging donor experience that will have a lasting impact.
Conduct prospect research
As fundraising goes digital, so too should the way in which fundraisers approach potential major gift prospects. Take the time to analyze your prospect’s networks, interests, and preferences by leveraging data analytics and social media tools. This will help you tailor your approach, understand what motivated the prospect to become involved, and build deeper relationships.
Fundraising trends show that the more effort you put into analyzing major gift prospects, the better your chances of success.
When it comes to analyzing major gifts, data-driven strategies can be extremely effective. Fundraisers should research any and all information related to their prospects, such as employment history, giving patterns, social media profiles, and personal interests. This will give you invaluable insights into how to approach the prospect and what motivates them to contribute.
In addition, leveraging technology to capture data is becoming more valuable in major gift fundraising. Fundraisers can use donor management systems, predictive analytics software and other digital tools to help identify potential prospects and build a better understanding of their needs and interests. Investing in data analytics technology can be an invaluable tool for fundraisers looking to maximize their major gift efforts.
One of the key trends in major gift fundraising is personalization and customization. Fundraisers must recognize that each donor has their own unique preferences, motivations, and circumstances. Fundraisers should tailor their pitch and strategy to the individual, rather than relying on a generic approach.
Personalization can take many forms, from providing personalized emails and thank-you notes to creating tailored giving options based on each donor’s specific interests. Fundraisers should also develop custom recognition programs for major donors, such as exclusive event invitations and special gifts or experiences.
Personalizing fundraising is also important in order to build a more intimate connection with your donors. You should prioritize getting to know your donors on a deeper level by engaging in conversations and building relationships that go beyond the financial contribution.
By personalizing major gift campaigns, fundraisers can create an emotional connection with their donors and ensure that the gift is seen as an investment in the organization’s mission. Fundraisers should take the time to understand each donor’s motivations and tailor their approach to create an impactful, positive relationship.
By staying up-to-date with the latest fundraising trends and taking advantage of digital tools, organizations can ensure success in their major gift fundraising efforts. With MaxGiving’s fundraising software, you can focus on making meaningful connections with major donors instead of stressing about the logistics. Contact us to find out how we can help.