First in a series
As Covid-19 ravages the event industry, it is particularly playing havoc with nonprofit organizations’ fundraising goals. Many nonprofits count very heavily on fundraising galas and auctions in the spring to beef up their finances as they face a new fiscal year. Needless to say, then, that the stay-at-home orders in effect at most US states have had devasting effect on some of these organizations putting their very existence in jeopardy.
Faced with lockdowns, some organizations have started to reach beyond the proverbial box to save themselves from oblivion. The new buzz word these days is “virtual”—be it a company’s routine daily staff meeting to more ambitious undertakings such as fundraising events and auctions. It seems everyone has jumped on the virtual bandwagon. Virtual fundraisers offer numerous benefits to the host organization including sizable savings in room rental, catering, and related costs associated with traditional in-person events. It is no surprise, then, that virtual fundraising events of any kind are popping up everywhere. However, to be successful requires some initial legwork on the part of the nonprofit.
In these series, we will list the most popular online events and pros and cos of each. To start with, here is a list of more popular virtual events with highest probability of financial and branding success for the organizing nonprofit:
Virtual Galas
A fun online event is a virtual gala. Sure, it might not bring with it the same dinner plating and glamor of dressing up for a night out for the donors and their friends, but providing a way to bring the organization’s stakeholders together for a virtual gala can keep them engaged. The success of virtual galas depends largely on the organization’s board of directors and their commitment to the cause. At the gala, key stakeholders can play host to virtual tables to spread the word. Best yet, the nonprofit is not limited to the number of seats at a table for its fundraising needs!
Using peer-to-peer fundraising tools, the nonprofit can have its board members become table captains, and then rally their network to support the virtual gala. One of the better-known peer-to-peer tools is Salesforce with their elegant and mobile friendly forms which allow the organization to slash overhead with real-time donation forms [integrated with Salesforce]. In a nutshell, the success of virtual galas lies in how dynamic and exciting the host can make the event to maintain audience engagement throughout the event. If finances of the nonprofit allow, recruiting a celebrity to play host or make an appearance will add a great deal to the appeal and pizzazz of the event.
Online Auctions
Online auctions are already very common event at in-person fundraisers. This might be one of the most direct correlations between a traditional in-person event and an online event. If a nonprofit is looking to host an auction for its fundraising, there are many new software to quickly convert offline donor and supporter data to an online auction. This would give the organization the same benefit of allowing its stakeholders to support it by purchasing gifted items, delivering the same value.
Online Gaming Fundraisers
Online gaming tournaments are considered a safe bet when it comes to using them as a virtual fundraiser. This fundraising option works because it brings people together around a common interest and a common cause. It enables them to use their hobby to make a positive impact. While it’s known that online gamers can be very competitive, it is less known that online gaming tournaments are very successful in raising funds for supporting charities. Online gaming as a fundraising tool can be very versatile allowing the organization to structure something as simple or complex as it deems appropriate. The key to success in using online gaming is to find out which online game(s) people in the organization’s network would be excited to play for a great cause. It should be a multiplayer game with scores, and there should be some kind of time limit, so that the tournament doesn’t go on indefinitely.
There are many more virtual fundraising options. The key to success of any such event is following a few important steps to guarantee success:
1. Date & Time
The date and time must be carefully selected to ensure maximum participation regardless of what online fundraising option is being promoted. Equally important is the format. The more interactive a virtual event, the higher likelihood of success.
2. Event registration and donation page
Whether or not the nonprofits decides to have an entry fee or opts to run it as a peer-to-peer fundraiser, there is a need for a custom event registration page. The organization must also be able to accept online donations for the event. A custom online donation page is easy to create and excellent for participants to share with their friends and family.
3. Use an email and social media campaign to get the word out
The success of virtual events rests heavily on the outreach the organization initiates. A mass email must be sent to the organization’s entire community broadcasting the event and letting them know how they can participate/support. The same steps must be taken towards getting the word out on multiple social media platforms. Creating a social media event campaign allows for the broadcasts of the event beyond the organization’s established network. It allows supporters and donors to invite their friends and family thus contributing to the success of the event.
To plan your virtual fundraising event, let professionals at Your Great Event give you a hand in choosing and organizing a successful endeavor.