The use of new technologies is something that every organization can benefit from, and companies that are willing to adopt the technology are more likely to outperform their competitors.
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It’s no secret that we live in a digital age – we’ve become addicted to technologies that have their advantages and disadvantages. For example, the Internet of Things technology (IoT). changed the game in the fight against the COVID-19 pandemic.
Many companies have undergone digital transformation to automate routine tasks, achieve higher levels of performance and positively impact their operations over the past few years. The use of new technologies is something that every organization can benefit from, and companies that are willing to adopt the technology are more likely to outperform their competitors.
If you hear about a technologically savvy organization, you may think that startups in Silicon Valley or new social networks such as TikTok are gaining in popularity. However, companies in a variety of industries can use the latest technology to fuel their corporate fundraising efforts.
The Pandemic coronavirus covid-19 has created many failures, deficits and problems for virtually all types of organizations. The pandemic has accelerated digital transformation for many businessesand the trend is likely to continue.
Large companies are investing heavily in the field of corporate social responsibility give to their communities, help those in need, and be more resilient in their most common business practices. How do they do it? How can corporations improve their fundraising initiatives?
There may be several answers to this question, but we know it technology has and will have a significant impact about how organizations approach fundraising.
Here are some of the latest and greatest technologies that can bolster your corporate fundraising efforts.
1. Donor management software helps build relationships
Corporations can use donor management software (DMS) in the same way they use customer relationship management (CRM) software. Many companies already use CRM software Sales departmentFreshworks, Zoho or HubSpot to easily manage customer relationships and analyze large amounts of data.
Organizations can also easily connect and build relationships with potential donors, achieve fundraising goals, and organize volunteer opportunities for corporate fundraising. Using a centrally available database with all the fundraising information makes processes more efficient and allows teams to collaborate better. Consider using DMS to build and maintain relationships with current and potential donors.
2. Automated marketing platforms increase efficiency
Nonprofits typically use automated marketing platforms to manage their marketing strategies, deploy companies, and reap the benefits. In addition, businesses in different industries can also use these solutions for different reasons – and fundraising is no exception.
Automation offers benefits such as increased efficiency and coverage of more potential donors in less time. A good automated marketing solution can also help companies save resources. Fundraising companies that use these platforms typically require fewer team members to complete tasks. For example, automatically scheduling social media posts to encourage donations can save a company time and money.
3. Mobile apps make giving easier
Financial apps like Venmo, Cash App and Zelle, make receiving donations much easier for organizations. Companies that create accounts in these programs can allow donors to easily send their contributions in seconds.
Think about how easy it has become to make payments with Apple Pay or PayPal for all kinds of products and services. Donors can freely use this technology without entering contact information or payment details, such as credit card numbers. On-demand donations can be made through any of these new digital platforms, so consider using them for a fundraising initiative.
4. Cloud infrastructure reduces costs
Companies can use the cloud infrastructure to better manage fundraising data. Companies use the cloud for many reasons – it is flexible and scalable, stimulates cooperation, prepares companies for disasters and helps in business continuity. Also, it is simple and cost effective.
Cloud infrastructure consists of hardware and softwaresuch as servers, storage, controls, and other services. Companies that use cloud technology will benefit from lower costs, more collaboration, and more access to confidential donor data.
5. Virtual reality establishes emotional connections
Virtual reality (VR) is becoming commonplace in many industries. Some nonprofits used virtual reality to host virtual events so donors could donate, especially during the COVID-19 pandemic, when a face-to-face meeting was impossible. Your corporation can unleash its creativity by using VR technology to build emotional connections with potential donors. Just a must observe participants after the event to increase your chances of success.
Compared to nonprofits, corporations trying to raise funds have an advantage because large companies have the resources to pay for a VR advance. With enough capital, companies can invest in virtual reality and use it to reach a wider audience of donors.
6. Use social media channels to attract donors
The story is at the heart of social media, and the description of your campaign’s fundraising mission for a nonprofit is essentially a story. Your business can use social media channels to share their fundraising initiatives by creating stellar content such as videos, images and other messages.
Make sure your marketing team understands which social networking platforms will be best for fundraising. Take a look at where most potential donors spend your time be it TikTok, Facebook, LinkedIn or Instagram.
Think about using technology to improve your fundraising efforts
Corporate fundraising is an effective way for companies to give back to charities. In addition to adopting new technologies, many companies are increasingly aware of the impact of their business and industry on the global economy, the environment and the communities in which they operate.
New technologies are always emerging, and for companies trying to improve their fundraising success, it’s important to use them. It will be interesting to see how large companies adopt fundraising technology and how nonprofits benefit from these donations.