Why are Fundraising Events Important?
Fundraising events play a major role in supporting and sustaining not for profit organisations. Without these, the important work done by such organisations would cease to exist.
Fundraisers ensure a successful strategy. They also help to meet a wide range of targets that can mean the difference between a nonprofit thriving, or declining.
While their value is undeniable, a lot of work goes into organising such events. This can often put people off, causing the likes of charities to scramble for donations and struggle to fulfil their quota.
In this blog, we uncover why fundraising events are highly effective in meeting the needs of nonprofit organisations.
Fundraising Events: Why They’re Important
Not for profit organisation rely heavily on donations to stay sustainable and to ensure their organisation can continue to have a positive impact on their members and local community. Fundraising is vital to support ongoing growth and help organisations to move forward.
But, event fundraising is vital for many other reasons - not just the bottom line. While this is a top priority, there are several other benefits that come from fundraising events, including:
Throughout the year, it can be difficult for not for profits to find and acquire new donors. By holding an exclusive event, this allows not for profits to appeal to new audiences and engage existing supporters. With the right promotion, not for profits can create a buzz about their event, and also their cause.
Many not for profits take to social media to spread the word about their event. Luckily, there are lots of platforms to spark interest among different age groups. For example: you could cross-promote by posting a video on Facebook, Instagram, TikTok, Twitter and YouTube. By maximising the potential of these free resources, you can attract as many people as possible.
One of the top traditional marketing methods is the power of word of mouth. People’s opinions are seen as valuable sources of information. What’s more, is that this strategy is easy to implement. It could be through encouraging volunteers to tell their friends and family about the event, share posts on social media, or even do door-to-door visits around the community.
But it doesn’t stop at getting RSVPs. The event itself provides the perfect opportunity to give an in-depth insight into their mission and motivations. By using this dedicated time and space to let people know what you are about, what you have achieved so far and what you envision for the future - this can cement long-lasting impressions.
As not for profits require constant funding, one of the best ways to increase donations is by running an event.
Events are highly versatile. You can choose to arrange a big fundraising event that is suitable for the whole family - or targets a specific demographic of supporters that you want to engage. For example: you could set up a family sports day.
No matter what you choose, emphasis should be placed on making the event interesting enough to encourage donations. Take time to research your target audience. Ask yourself: what will intrigue them? What do they want to spend their money on? Usually, people love experiences, products and services that are familiar to them. If you can include all three of these at your event, then you can maximise your chances of more donations.
One great example would be a challenge that offers a unique experience for the participants. One of the most common charity event ideas is running a marathon. Think about the person doing the run - and then think about their supporters who are likely to come and watch. From here, you can sell merchandise and food that will meet the needs of all kinds of people attending your event.
But most importantly, you should always start with ticket sales to build funds ahead of the big day. Once you know what sort of idea you want to focus on, prepare your event programme, promote accordingly and make your calls-to-action easily accessible. Social media can be extremely helpful for this, as it offers ‘Donate’ buttons for certain pages. You can also simply include a link to your website’s donation page within your posts.
Fundraising events offer a great opportunity to create content that can be used for pre, during and post-event launch.
This content can be anything - from images to videos of the event - or both. Usually, people use professional photography and videography to promote their event post-launch. This acts as a great second wave of engagement about a week or two afterwards. Especially if you tag certain attendees and they reshare.
During the event, you can utilise social media’s handy features such as Instagram and Facebook Stories. These can provide an in-the-moment behind-the-scenes insight of the event. By doing this, you are keeping your channels active and at-home audience informed of what is happening. This engagement can also meet the goal of raising awareness and boosting donations, too.
Content is important to nonprofits because when events are over, they must think of new ways to raise funds. Content taken on the day of an event can be repurposed in many ways. For example: you can create new post ideas - from ‘Throwback Thursday’ to gratitude posts. You can also use them for polls to ask people what they enjoyed most about the event, or what they would like to see at the next one.
What’s more, is that fundraising events can make a great staple for your donor’s calendars. If you choose to host a yearly event, then this can be a great way to build momentum over time. It can also act as a great excuse to stay in touch with your supporters and give them updates as and when you have them.
Overall, fundraising events are essential for nonprofits as they tick so many boxes when it comes to strategy, support and success. It is important to note that with any activity, it is vital to plan thoroughly, execute well and continue the momentum post-event.
At S3 Solutions, we can provide our clients with comprehensive advice to not for profit organisations when it comes to advice around fundraising. Our consultants have significant experience in working with a wide range of not for profit groups, and we are available to help today. Get in touch with the team for more information.