Thursday, September 10, 2009

Deciding On A Fundraising Strategy That Works

By Carmen Martinella

Fundraising activities are just like any other business. You have to target your campaign successfully, or you'll never reach your financial goals. And, just like in any other business, if you handle the campaign poorly, you can end up spending a lot more money than you make. That is way it is critically important that your use the best fundraising strategies to get the most return on your investment.

Fundraisings strategies should be set up to support your overall goals and any budgetary constraints. You should always know what your resources are and work within them. If you can manage that, your campaign will lead to eventual success.

In theory, you should already know who your target audience is. For example, if you are raising funds for a high school trip, you can simply go to family and friends. But if you do work for a charitable organization in order to feed hundreds of homeless people, you are going to have to set up a campaign that aims a little higher.

But fundraising strategies are about more than picking your audience. You must decide on activities that will appeal to your audience, yet remain appropriate and related to the task at hand. Fancy dinners, for example, will certainly appeal to financially secure individuals, but if it is a cause they disagree with, they won't have any reason to show up.

You can develop your strategies by asking a few simple questions. First, how will I create awareness of the need? Many people who are in a situation to help with your fundraising simply aren't aware of the need or, if they are, who is trying to do something about it. You have to do what you can to get the word out.

Next, ask yourself how you can start to implement the strategies. Many fundraising endeavors die an early death because people spend too much time talking about it and not enough time putting it into effect. Decide immediately how you will recruit and manage volunteers and how you will use your resources to achieve your financial goals.

You should also reward your contributors and volunteers in a way they will appreciate. This should be a major part of any fundraising strategies because no matter what you are raising money for - from helping the homeless to sending the band on a trip - you may find that everyone really wants to know what is really in it for them.

Advanced fundraising strategies don't have to be scary if you target them correctly. Get to know your audience and present them with activities they can relate to. Do this, and your efforts will quickly be rewarded.

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