Blackbaud Institute's latest report, "The Resilient Nonprofit," sheds light on how forward-thinking charities are leveraging technology to gain a competitive edge, where the early adoption of technology has emerged as a critical differentiator for success. Here are some key takeaways and strategies nonprofits can learn from these insights.
Tech Adoption = Fundraising Success
Nonprofits that are early adopters of new technology are not just staying afloat—they're leading the charge. These nonprofits are:
- 10% more likely to exceed revenue targets compared to their peers.
- 11% more likely to report higher total revenue.
- 24% more successful with major donors.
The data is clear: embracing technology can significantly enhance fundraising outcomes. Early adopters are reaping the benefits of increased efficiency, broader reach, and enhanced donor engagement.
Maximising Website Potential
Despite the proliferation of digital channels, the website remains a powerhouse for nonprofit fundraising. While only 85% of nonprofits use their website as a fundraising stream, it tops all direct response revenue streams, outpacing direct mail, email, social media, and more. However, a critical disconnect exists:
- 51% of nonprofits expect website revenue to increase in the next 12 months.
- Yet, only 29% plan to invest more in their website.
This gap highlights a significant opportunity for nonprofits to align their expectations with strategic investments. Without dedicating the necessary resources to enhance and optimise their websites, nonprofits may struggle to achieve the revenue growth they anticipate.
Strategic Takeaways for Charities
To begin harnessing technology and digital fundraising, nonprofits should consider the following strategies:
- Embrace Technology: Innovators and early adopters consistently outperform their peers. Explore and implement new tech solutions to stay ahead of the curve, whether adopting a new fundraising suite, utilising KPI analytics tools for data-driven decisions, or using fundraising plugins for your current website.
- Invest in Your Website: With the majority of revenue expected to come from online sources, ensure your website is optimised for fundraising. This means having seamless donation processes, diversifying donation streams, and built-in stewardship. Equip your site with the right tools to engage donors and drive conversions.
- Plan Strategically: Anticipate future trends and align your investments with expected growth areas. This includes technology and website enhancements, ensuring staff are empowered to use these tools effectively, and continuously measuring and analysing performance to make data-driven decisions.
Driving Greater Impact
Charities that make data-driven decisions based on insights like those from Blackbaud Institute's report are poised to drive greater impact and achieve their fundraising goals. By embracing technology, investing strategically, and staying adaptable, nonprofits can build resilience and thrive in an increasingly digital world.
Read the full report here: The Resilient Nonprofit - Blackbaud Institute
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