The Future Of Online Platforms And Emerging Trends
The charity sector has changed dramatically in recent years. Fundraising technology has played a big part in the changing landscape of charitable giving as nonprofits become less reliant on face-to-face engagement and embrace online fundraising. Let’s explore some of the emerging trends in online fundraising and how they could affect nonprofits in the future.
1. New Ways Of Giving
Charitable giving is no longer strictly cash-only. Innovation in online fundraising has seen more donors donating stock and currency to nonprofits. Around $300m is donated in cryptocurrency each year, which is likely to increase as more nonprofits sign up to receive crypto donations.
Younger generations are also more likely to embrace these forms of charitable giving, seeing as nearly 60% of millennials own cryptocurrency or stock.
2. The Hybrid Approach
During the pandemic, when in-person events weren’t possible, many charities were forced to rely on online fundraising. Innovation in video chat technology like Zoom and Teams, made virtual events possible for nonprofits who had never considered them previously, but had no choice during the pandemic.
With virtual events now considered the norm in most areas of life, it’s likely that charities will continue to operate a hybrid approach to fundraising, combining online virtual events and activities with face-to-face ones, thereby getting the best of both worlds.
3. Harnessing Technology
Competition among nonprofits is fierce, and organizations need to be creative about how they stay ahead. Advances in fundraising technology has seen nonprofits, who often lack staff and resources, employing technology in the form of artificial intelligence, social media and online fundraising platforms to be heard above the noise of a crowded market.
4. The Role Of SMS communications
One emerging trend in fundraising that might surprise you is that texting continues to be a vital component of nonprofits’ digital fundraising future. The average text message open rate is 99%, while the average email open rate for nonprofits is just 27%, so it’s no wonder that more nonprofits are putting more effort into texting.
Furthermore, two-thirds of the world’s population have a mobile phone, and some 200 million people got their first mobile device in 2017. With an audience of potentially billions of donors, texting will likely remain a key tool in charitable giving.
5. Investing In Online Fundraising Platforms
We’ve seen more charities investing in online fundraising platforms, which is helping them reach global audiences. Features like crowdfunding and donation management are helping to give nonprofits the edge, and this trend in online fundraising platforms is likely to continue.
Advances in fundraising technology, changes in the way charities engage with donors and new methods of charitable giving are emerging trends in fundraising that are likely to continue in the years to come. Nonprofits have demonstrated their ability to flex and adapt to changes in the sector and the wider world, so there’s no doubt that charities will continue to move into a digital fundraising future ready to face any new challenges head-on.