Digital Transformation in Fundraising: Trends, Issues, and Solutions
Digital transformation is the key to sustainable fundraising in 2021. While the global pandemic has forced industry businesses to review their approaches in order to survive, embracing a greater digital vision is needed to really prosper.
What are some of the main challenges in fundraising right now? How can digital strategies and solutions address these issues? And finally, how can MintyMint assist you on this journey?
Proceed to find out!
Biggest challenges in fundraising
Among all the global and local issues in fundraising right now, these are most common:
- Insufficient individual donations
- Unmotivated partners
- Limited sources of funding
- Transparency and trust Issues
- Fintech regulations and data protection
- Donor retention
- Postponed digitization
How to make fundraising successful through digital means?
Incorporating tech solutions in your business strategy can help to achieve the following:
- Boost donations
- Track, manage, and retarget existing partners
- Find and inspire new partnerships
- Access additional sources of funding
- Ensure transparency and trust
- Automate workflows
- Meet fintech regulations
- Increase partner retention
Current fundraising trends
As for the key trends in fundraising right now, we are noticing an increased focus on:
- Mobile operations
- Donor-advised funds
- Virtual events
- Agile fundraising
- Younger target audiences
- Personalized outreach
What can MintyMint do for fundraising businesses?
Our team has developed a ton of fintech products, including a modern crowdfunding platform. So, how can a company like ours assist fundraising businesses out there?
In general, there are three ways we can be helpful.
Develop a digital strategy
We’re seeing cases where implementing some individual digital features boosts donations by 150% even outside of the niche. Imagine what a comprehensive digital strategy can do for crowdfunding platforms and charities.
Depending on your setup and degree of digitization, we can develop a comprehensive tech strategy to meet your most urgent goals and needs. Whether it’s a legacy software update, security loopholes fix, or back-office workflow automation – our experts will define the key pain points and outline a clear roadmap to resolve them.
Integrate digital solutions
As already mentioned, it’s possible to boost/benefit the fundraising activities even without a comprehensive strategy.
We can develop and integrate a wide range of solutions for your fundraising businesses. It can be a CRM system to manage your partners and donors, a set of security measures to protect your data, a mobile app to engage users on the go, or a new website to present your services. It can also be a universal cloud app incorporating all of the above if that’s what you’re looking for.
Provide dedicated experts
Last but not least, we can provide you with dedicated tech experts or entire teams to fulfill tasks and cover responsibilities.
Outsourcing gives you access to great talent without distracting on hiring and managing additional staff. This way you can support your core team and focus on essential business objectives like marketing or strategy development. Meanwhile, we guarantee A-grade IT professionals and the quality of the work they do.
What’s there for modern fundraising tomorrow?
Although fundraising businesses have traditionally abstained from fundamental digital transformation, the situation has changed. Charities and crowdfunding platforms adopt all sorts of digital solutions to their great benefit.
This tendency is only picking up speed in 2021. So, if your fundraising business struggles to endure the increasing market competition, it makes a lot of sense to seize the opportunity and hop on the digitization gravy train.
Need help with digitization? Don’t hesitate to reach out!
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