In every industry, including the nonprofit sector, organizations must constantly improve their methods to keep up with a rapidly changing world. Fundraising techniques that have worked in the past may not work nearly as well today. With that in mind, here are some possible signs that it is time to change your next fundraising event.
- There is no online component.
As we outlined in an earlier blog post, to hold any type of fundraiser without online resources in this day and age is simply not effective. Many donors and attendees will be turned off by an event that seems outdated and inefficient. A modern fundraising event has seamless integration between the digital and physical worlds.
- There is less interest than in previous years.
Oftentimes outdated events are held year after year because “it’s tradition” or because “that’s the way it has always been done.” Over time, perennial attendees will decide to stop attending the same event.
Another sign of lowered interest would be less event sponsorships than expected. If even your corporate sponsors no longer want to get involved, then the event may be in need of a replacement.
These are both signs of a tired, worn out fundraising event. If event attendance and sponsorships have dropped off in recent years, change the style of the event and make a large push to reclaim former attendees who have stopped coming.
- You aren’t turning a profit.
If your fundraising event isn’t actually making you much money (or the magin is too small to make a difference), then you have a serious problem. Take a look at the numbers on your event and try to figure out the problem. Are donors simply not giving? If so, make sure that your events are structured in a way that donors feel that they have to give. Is the event too expensive? Try to cut costs wherever you can, and check out our blog post on 5 Signs you are Throwing a Party Instead of a Fundraiser. Whatever the reasons are, a non-profitable fundraiser is an unsuccessful fundraiser. No pun intended.
At first it may be hard to let go of an event that has been around for many years, but once it is done you will find it to be oddly freeing. The time and resources that once went to that event can now be spent in much more productive ways, such as towards a newer, more successful event or other goals of your organization.