As somebody who runs a Non-Profit, you know how important continual fundraising is.Finding new campaign strategies, fundraising software, and engagement tactics to keep the money rolling in can be difficult — particularly during these topsy-turvy times.
Even if you’ve received donations, throughout the year, planning for the future is essential to the long-term health of your organization.
That’s where pledge fundraising fits into the mix.
In this article, we’ll clarify the differences between traditional donations and fundraising pledges. We’ll also provide you with actionable tips on how to get started on your own pledge fundraising campaign.
Pledge fundraising vs. traditional donations
While both donations and pledges consist in gifts provided by supporters, they differ with respect to the timelines in which your Non-Profit receive those donations.
Donations are given in the present and are accepted, immediately, across all stages of a fundraising campaign.
Pledges, on the other hand, are promised for the future.
Since what you’re asking of your donor base is different, in both cases, it’s important to articulate plans tailored to the timeframes in which you want to receive funds.
Our first tip is that you, and your organization, decide whether your mission is better suited to traditional donations or pledges…
Which should you choose?
Asking for pledge support tends to work best if your campaign revolves around goals that are, in any way, time sensitive.
Does your organization urgently require funds to stay afloat?
Will children in third-world countries starve if you don’t send relief funds today, tomorrow, and next year?
Does your Non-Profit provide disaster relief, in parts of the world that frequently encounter disasters, like war or famine?
Or is your organization connected to social or political causes, requiring immediate and continuous action?
If you answered “yes” to any of the above, pledge fundraising is the right choice for your Non-Profit.
Create a sense of urgency to compel your donors!
If you’re looking for pledges, you’ll need to build an emotionally compelling case to receive support from donors, either as a pledge or a direct donation.
This is particularly true for pledge fundraising campaigns, as you’re essentially collecting “promises” of gifts to be given in the future.
So, as noted, your campaign needs to incite urgency on the part of pledgers.
Beyond promoting a cause that necessitates urgent action, you’ll also want to build this sense of urgency into the timelines and conditions of your campaign.
Firstly, you could impose stringent deadlines for pledges — “pledge now, or forever hold your peace” is a great way of inciting action from donors.
Secondly, you could also create pledge conditions that motivate a strong sense of group effort. This may include a “pledge trigger,” indicating that pledges are only available once a certain quantity of funds have already been collected.
Thirdly, consider taking advantage of corporate giving programs through your donors’ employers. You’ll find that many donors, who work for large companies, have access to these sorts of giving programs. Conversely, if you’ve already attracted a corporate sponsor, meet with them to discuss a matching program for pledges. Every pledge you receive, during a specific timeframe, will be matched for twice the impact!
Remember, a successful pledge campaign is all about creating and maintaining urgency, momentum, and donor involvement!
And when it comes to donor management, you need the right tools…
Get your hands on the right fundraising software!
And, perhaps most importantly, you’ll want to get your hands on the right digital tools and fundraising software to facilitate your campaign. GiveLife365, for example, offers a smooth, intuitive user experience, with the flexibility to adapt to the specifics of your pledge campaign.
By adopting a robust fundraising software, you’ll be better poised to keep your data organized while tracking your pledge campaign’s progress, managing communications with pledges and potential donors, identifying new opportunities for pledges, and analyzing trends to guide your campaigns, as they unfold.
For more information on GiveLife365 — a cloud-based fundraising and donor management software powered by Microsoft Dynamics 365 — please click here.