Introduction
Internet connection is a staple in every household, and this statement couldn’t be more accurate as post-COVID-19 effects. Online and virtual platforms have become a craze that will impact every child’s life. While all classes are being conducted virtually, holding fundraising programs online is also becoming imperative. And the good news is that donors are in full support of it. In fact, 54% of donors show their preference for virtual fundraising rather than conventional ones.
Thus, 2020 saw 21% of these charitable institutions and educational organizations move towards collecting donations from family and friends through online fundraising software and platforms. These numbers increase to 32% due to online voting and ticketing tools. These platforms offer customized questions and an easy interface to work with.
Apart from this, you are provided an array of tools like online giveaways, auctions, virtual crowdfunding, ticketing and voting, peer-to-peer charities, and more. Let’s see how your school can stand to gain through online fundraising programs:
1. Cost-Friendly
Online platforms give non-profit institutions and schools a broader reach in an effective and budget-friendly way. Such efficiency incentivizes donations, where people can directly engage in crowdfunding by a click of a button. Traditional funding methods have become obsolete, and conventional techniques of reaching out to the public created negative results and inefficiency.
In-person solicitations and emails limit the scope of the demographic you can reach. Furthermore, you may have to consider administrative and project costs to set up school fundraising activities like obstacle course runs, marathons, T-shirt designing, food parties, live charity auctions, etc.
2. Transparency And Trusteeship
Another significant advantage for donors and educational institutions is the high-end transparency and informational access to the utilization of funds. Around 75% of the donors would like to know where the finance is being allocated and whether it is productive. Online fundraising ignites trust between the participants; this can also prove extremely useful for future donations.
Online donor hubs and virtual fundraising platforms efficiently collect donations from family and friends through donor and alumni engagement for building communities. They grow collections through virtual and hybrid events by providing tools to PTOs, schools, fraternities, clubs, and other non-profits. They also provide video and audio-based interactions, text widgets, easy-to-fill donation forms, and more to trigger excitement among participants.
3. Ease Of Access
Traditional fundraising activities suffer one significant limitation: the physical presence to donate. As mentioned, virtual donating platforms enable schools to have a wider reach of the demographic who would like to contribute to the growth and development of your esteemed organization if not for these barriers.
Think of it from their perspective; you will not have to wait in lines that see no end, write a bunch of information in the form, sign a check, and wait for the mail to reach the organization. Virtual fundraising platforms are not only straightforward to operate, but you can also easily create traffic on your website. Fundraising, in this manner, is efficient, speedy, reliable, and highly safe.
4. Enhanced Data Analytics Accessibility
Any form of business requires a high degree of information accessibility for purposes like creating financial reports, decision-making capabilities, and tracking incomes and expenses. By providing critical data about the volume of donations and how they are used for the benefit of society, online platforms have a significant advantage in delivering such information in an automated and timely manner. It significantly increases accessibility and smoothens the real-time tracking of funds.
To err is human nature, and manual bookkeeping can lead to unintentional mistakes that can put your organization’s reputation and creditworthiness at stake. The school management can effectively make foresight and allocations through crystal-clear data and statistics.
Conclusion
Online fundraising is done on a grand scale, not only by educational institutions but also by raising awareness of specific causes, inventions, and projects. Financing has never been more fun and exciting for the students and the donors, with a wide range of activities being conducted virtually. Funding is no more an unnerving and dreadful activity.
