Charity fundraising risks have been left behind in the shift to online activities. But drawing inspiration from the COVID-19 pandemic and new payment technologies can open the door.
Whether you are ready or not, change will come, but being ready means you can seize the opportunity. The past year has significantly accelerated the pace of digital transformation-of course, personal contacts have moved online, contactless payments are slowly replacing cash, but the pandemic has not pushed the world faster and further as anyone expected . This poses specific challenges for the non-profit sector—and with it comes some exciting possibilities.
Take the news home
Charity event And the streets Fundraising The two traditional sources of income have been significantly reduced due to the pandemic.However, the lock has unlocked some inspiring creative thinking, such as 2.6 Challenge, Where sports and fundraising agencies ask the public to present their own private challenges to fill the void left by the London Marathon. The brilliance of such personal fundraising activities is that they are personal.
Think about Captain Tom Moore improve By walking in his garden, more than 32 million euros (44 million US dollars)! This shows quite notably how individual efforts can drive greater participation than a marathon team: when supporters can see the motivation behind each challenge, they will be inspired. All this has to do with storytelling and authenticity. In order to stand out among the many issues vying for public attention and to restore the way to give positive emotions, it is important to emphasize the “why”-keep it individual and keep it relevant.
However, although important moments like this attract people’s imagination and attract a large number of impulsive donations, charities need repeated donations and peer-to-peer fundraising to ensure their financial health. It is vital that the organization transforms one-time donors into active supporters committed to sharing its information.
Due to the power of storytelling, online fundraising is particularly effective in this task. according to Research, 57% of people who watch the fundraising video will continue to donate, but think about how much they can do. A charity or activist website can be a place for helpers and helpers to share their experiences, motivations, and behavioral influences. How does personal online behavior translate into greater changes? How do online social tools build communities? How can we mobilize people who no longer believe that established groups do the right thing after donations are completed, or the acceptance agenda should only be set by the largest donors?
The need for transparency and accountability in all aspects of life is increasing. The same goes for social undertakings: young people want to know that they make a difference. Show them a record of effective actions and responsible management, and they will promote it for you. Explain what resources are needed and how and how they will be used. Groups that use easy-to-access and understand social networks and common tools will most likely win the trust and loyalty of generations of adults now.
Embedded payment opens new doors
Let’s talk about the specific details of payment. The actual process of donating online can be a major obstacle. Donors usually need to fill out a detailed form, provide their name and several contact details, even before entering the payment details. As more and more people believe that their personal details are stored in a database, people’s generosity and desire to truly participate may deteriorate.
Blockchain technology can greatly simplify this step. If a charity website implements a micropayment layer that allows donors to donate any amount by clicking a button-no need to fill out a form, no need to give up personal data-don’t you want this to release goodwill, let alone donate? This is a real possibility. Once this technology is widely accepted, it will not only simplify online donations, but also pave the way for exciting new fundraising methods.
Remember the ice bucket challenge?Donations from the social media phenomenon arrive 115 million US dollars, enabling the beneficiary ALS Association to nearly double its funding for research on the disease. During the blockade, the challenges of TikTok and Instagram spread like wildfire, although few people have anything to do with the cause. Imagine what you might achieve if you could design a viral social media challenge, harness this energy, connect it to meaningful actions, and embed the donation mechanism directly into the created post. If viewers are asked to donate a few cents to watch the video, and to donate a few more cents to upload their own videos, then viral marketing activities can achieve more than just spread awareness.
Trivia game Freerice has improve The United Nations World Food Program is about 1.4 million US dollars (via advertising)-it works because part of the player’s motivation is the appeal of simple games and the feeling of doing good. Donations are made easy through an embedded, decentralized micropayment system, which can be combined to provide funds for any active, transparent, and effective effort. One can even imagine a free information market that will push funds to the most valuable cause.
What can you offer?
Fundraisers need to use some keen marketing thinking to expand their income base. It is necessary to request donations in multiple ways on multiple platforms. But apply the baking sales principle: What can you give in order to get?
Any non-profit organization may have expertise. If it can use it to create online courses or e-books, or provide expert lectures, it will be a valuable product.Online donors usually give Therefore, fundraisers need to work harder to train them and provide different donation channels. Online or mixed events are another option. Compared with traditional fundraising events (which are susceptible to weather and other unpredictable factors), they are less risky and have a wider impact. Embedded payments can provide this additional value in a frictionless manner without compromising data protection or investing any overhead in payment processing contracts.
Aiming at the next generation
Remember, the most important thing is that young donors may participate in online content and services—and young donors can provide lifelong support. Therefore, fundraising activities need to pay attention to the online behavior of young people.We know that Gen Z is very active online, especially on mobile devices, and Turn off Through outdated websites. Social media is an important part of their lives, so online community building is crucial. And they rarely use cash.
As cash payments have become scarce, change donations have become like dinosaurs, and it can be said that it leaves more than just financial gaps. Throwing a few coins in the charity tank next to the cash register or the familiar “take a penny and leave a penny” plate in some parts of the United States creates a sense of unity. Can micropayments provide a way to regain the social and economic benefits brought by the anonymous circulation of small currencies? Can they help attract young people at a level that suits them and open the door to increasing levels of support in the future?
The leap of remote networks in 2020 can be combined with emerging payment technologies to bring the possibility of change for charities. We can now see that online participation is far from a bad substitute for face-to-face activities, it can be very powerful in itself. The new digital payment may prove to be an equally huge boost to cash. Now that the fundraising event is over, the lessons learned can be applied and new models can be built for the future.
The views, thoughts, and opinions expressed here are only those of the author, and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Stephanie Sue Economist, policy analyst and co-founder of the blockchain security company Geeq. Throughout her career, she has been applying technology in her professional disciplines. In 2001, she was the first person to use machine learning on social science data at the National Supercomputing Application Center. Recently, she served as a senior lecturer at Vanderbilt University, researching the use of distributed network processes in healthcare and patient safety. Stephanie graduated from Princeton University and Rochester University.