Nonprofit Revenue: How Affnetz™ Can Help Bring In More Dollars
Maintaining, and hopefully, increasing Nonprofit revenue ranks among the top concerns of not-for-profit organizations.
Nonprofit revenue comes from several sources:
- Membership dues and fees
- Investment returns
- Sales of goods or services
Here are some factors to consider in the effort to increase revenues in the areas of donations, events and sponsorships.
Two strategies for increasing Nonprofit revenue from donations are to expand the donor base and increase the average giving amount per donor.
Adding donors, like for-profit customer acquisition efforts, involves:
- Raising awareness,
- Clearly communicating the organization’s value proposition
- Making a convincing case that the organization can deliver on the value proposition.
In the case of nonprofits, the value proposition is the mission. Potential donors receive the message and make the donation (buying) decision in the same way a consumer decides to buy a product or service. If potential donors clearly understand the organization’s mission, believe in it, and in the ability of the organization to fulfill the mission, they will be motivated to give. Nonprofit revenue increases as a result.
Increasing the average giving amount focuses attention on existing donors. Keeping donors engaged via ongoing communication becomes a top priority for the organization. The communications should remind donors that:
- The mission continues to be relevant
- The Nonprofit is successfully fulfilling the mission
- The Donor’s contributions are appreciated
The greater the engagement of Donors, the more likely requests to increase average giving amounts will be accepted.
In the effort to increase donations, two other Stakeholder groups merit consideration.
Volunteers and the Board of Directors represent some of the Nonprofit’s strongest advocates. Not only do these Stakeholders tend to donate at above average levels, they also have the motivation and means to expand the Donor base through their own networks. Peer-to-Peer fundraising is an example of how organizations can tap into the energy and enthusiasm of these dedicated supporters to boost Nonprofit revenue.
Nonprofit revenue also flows from events. Whether the event’s purpose is educational, social, or purely to raise money, the goal is to bring in dollars more than are spent to stage the event.
To be successful (i.e. – make money), events need to be carefully planned and executed.
- Realistic event scope – The scope of the event will determine how much money can be raised. However, the scope must be matched to the resources of the organization. Planning an event that can not be produced efficiently will probably not raise the target amount of money because of high costs.
- Cultivate Sponsors – Sponsors not only boost Nonprofit revenue by underwriting event costs, but they also lend credibility. A strong Sponsor brand adds value to the event in the minds of potential attendees. Cultivating positive Sponsor relationships can yield long-term revenue benefits both from events and overall sponsorship for the organization.
- Aggressively promote the event – Getting the message out to members and those outside the organization is crucial in achieving attendance goals. Recruit exciting Stakeholders to reach out to their networks.
- Efficient Execution – Event attendees must have a quality experience to motivate them to attend future events, encourage others to attend events and generally convey a positive image of the organization to the community.
- Comprehensive follow-up – Gathering feedback from attendees provides input for future events. Increasing event quality over time builds the organization’s brand which results in even greater revenue-generating opportunities.
Nonprofit Revenue: Harnessing Affnetz™ to Increase Organizational Income
How can Affnetz™ help Nonprofits solve problems in generating revenue? By using the various modules of its fully integrated platform, Affnetz supports and improves the execution of the organization’s revenue-generating processes and increase Nonprofit revenue.
- Fundraising Campaign Management – Effective fundraising demands attention to all the details. Campaign Management Software from Affnetz™ provides you with the tools to design, launch and manage your campaigns with ease.
- Peer-to-Peer Fundraising – Donors and volunteers are often the biggest cheerleaders of your Nonprofit. Peer-to-Peer fundraising campaigns not only generate revenue but further increases the loyalty of these dedicated stakeholders.
- Donor Management – Affnetz™ Donor Management Software provides detailed information about donors that allows the organization to fine-tune its fundraising approach to maximize revenue today and into the future.
- Volunteer Management – Affnetz™ Volunteer Management provides the means to coordinate volunteer efforts and consistently communicate to them, thereby deepen their level of engagement.
- Board of Directors Management – Affnetz™ Board of Directors Management Software contains an array of features that combine to streamline operations to support excellent board management.
- Event Management Software – Affnetz™ Event Management Software features a comprehensive event console that allows you to easily create and manage multiple events via online and mobile responsive pages.
- Feedback and Surveys – Feedback from Stakeholders supports better decision making by Nonprofits as they strive to achieve their missions. Affnetz™ Feedback Software covers all the bases for executing this essential function.
- Sponsor Management – Sponsor management software from Affnetz™ provides a dynamic workflow and interactive collaboration tool to support Sponsor relationships. Sponsors can quickly assess positive ROI from working with your organization.
- Administrative Foundation – Affnetz™ features a built-in integration with Intuit QuickBooks® that eliminates time-consuming manual procedures to accomplish simple transactions. Your team becomes more productive and they can focus attention on more important tasks that will increase Nonprofit revenue.
To learn more check out the @Affnetz website at https://affnetz.com/ or feel free to connect with us at [email protected]
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