Proven Strategies and Best Practices for Nonprofits to Increase Fundraising Event Revenue
Our recent survey showed that there are a variety of effective methods to generate event revenue for your cause, including sponsorship, ticket sales, live and silent auctions, raffles, fund-a-need, text-to-donate, and peer-to-peer fundraising. Here are some tips on how to optimize each method and maximize your fundraising efforts.
Harness the Power of Sponsorship
Sponsorship is a popular method for raising funds, with 97% of respondents using this method in our survey. To make the most out of sponsorship, start by identifying potential sponsors early on in the planning process. Consider offering tiered sponsorship packages that offer different levels of benefits to appeal to a range of budgets. Clearly outline the benefits of sponsorship, such as increased brand recognition and visibility, and ensure that sponsors receive recognition throughout the event.
Make the Most of Ticket Sales
Ticket sales are a tried-and-true method for generating revenue, with 88% of respondents using this method. To maximize your ticket sales, set a clear price and promote your event through various channels such as social media, email marketing, and local press. Offer early-bird discounts or group discounts to incentivize people to purchase tickets early and bring their friends.
Master the Art of the Bid with A Live Auction
Live auctions are a classic method of fundraising, with 73% of respondents using this approach. To optimize your live auction revenue, secure high-value items that are likely to attract bids. Offer a mix of experiences and tangible items, and consider hiring a professional auctioneer to keep the energy high and ensure that bids keep coming in.
Craft a Winning Silent Auction Strategy
Silent auctions are a popular fundraising method, with 85% of respondents using this approach. To maximize revenue, source a variety of items at different price points and group thematically. Display items attractively to encourage bidding, and consider using mobile bidding technology to make it easy for guests to place bids and monitor the progress of the auction.
Generate Excitement with Raffles
Raffles are a fun and easy way to raise funds, with 66% of respondents using this method. To optimize revenue, source desirable prizes that are likely to appeal to a broad audience, and sell raffle tickets at the event.
Fund-A-Need: Craft a Compelling Case for Support
Fund-a-need is a unique and effective fundraising method, with 69% of respondents using this approach. To maximize revenue, set a clear fundraising goal and communicate it to your guests. Use storytelling to illustrate the impact of donations, and offer a range of donation levels to appeal to a broad audience. Consider using mobile bidding technology to make it easy for guests to donate.
Drive Engagement with Text-to-Donate
Text-to-donate is a newer method of fundraising, with 17% of respondents using this approach. To optimize revenue, promote the option to donate via text message through social media and email marketing. Make it easy for guests to donate by providing clear instructions and a dedicated phone number or short code.
Execute Successful Peer-to-Peer Fundraising
Peer-to-peer fundraising is a powerful method for engaging supporters and generating funds, with 26% of respondents using this approach. To maximize revenue, encourage your supporters to create fundraising pages and share them with their networks. Provide tools and resources to make it easy for supporters to get involved and track their progress.
Embracing the Potential of Fundraising Event Revenue
In conclusion, there are many effective ways to raise revenue at a fundraising event, and the key is to use a variety of methods to appeal to a broad audience. With the right strategies in place, you can raise significant funds for your cause and make a real impact in your community.