Assessing fintech as a new element of your fundraising strategy
If you’re reading this, I’ll wager you’re someone who is eager to explore new ways to implement digital tools into your fundraising arsenal. You’re ready to incorporate a digital-first fundraising strategy, think differently, act creatively - even experiment - for a chance to amplify your impact on your donor pool and your organization's bottom line.
Perhaps like other nonprofits, you’re facing barriers to making digital improvements. While cost and training are common factors for organizations, staying up to date with rapidly evolving digital technologies in the space can also feel daunting.
As someone who believes that nonprofits fundraisers need to adopt fintech, I also recognize that awareness of this innovative space is essential to helping more nonprofits modernize their approach. With that in mind, here are three tips to help you get off on the right foot:
Know the Basics
Maybe this goes without saying, but taking the time to understand this powerful new approach and how it can revolutionize your fundraising is essential. If you’re new to the idea of fintech and just starting to dip your toe into these waters, start by understanding the impact fintech can have on nonprofit fundraising. Once ready, you can start to think through the myriad ways the technology can help you reimagine your fundraising.
Recognize Opportunities for Innovation
With a stronger foundation of knowledge about this technology, you can start to recognize strategy opportunities for it to impact your fundraising team and your initiatives.
At its core, the flexible nature of fintech can create ample opportunities as you engage your various levels of donors. Perhaps you see its impact on sustained giving amongst your annual fund donors, making it simple for them to quickly and securely increase their annual donations without coming out of pocket upfront. Maybe it’s a viable solution for re-engaging lapsed donors or expanding the potential of your major donor pool too. Realistically, it could have a place in your overall strategy, impacting your fundraising as a whole at every turn!
In addition to being easier on your donors, fintech also has the power to elevate your fundraisers. The technology can help to create operations efficiencies for your team and organization, removing barriers to the process of securing financial gifts.
Such improvements speak to the underlying strength of implementing such a tool into your playbook - ultimately, it’s meant to empower your team. Technology should serve to complement the work of your fundraisers, not replace them. And fintech is certainly no different. As you look to incorporate it into your strategic efforts, it helps to reflect on how it can fundamentally improve the efforts of your team and the overall ROI of your fundraising initiatives.
Ready to transform the way your donors give? Learn how Givzey is creating a smarter, easier and more flexible way to donate.