9 Tips on creating a Profitable Fundraising Event
Fundraising Event Ideas: What To Do First
1. Decide on your target audience. Once you’ve done that, the fundraising style(s), event type, theme, budget and venue options will fall into place. Having a structured overview, which doesn’t have to be huge or complicated, will keep you on track throughout the planning process.
2. Set up a mobile fundraising platform to collect and track the goal you are trying to raise with your event. Mobile fundraising allows you to easily make adjustments at any time to event keywords used to donate, live event thermometers and donation pages, which can be updated instantly from any desktop or mobile device.
3. Know your limitations. As you proceed through the planning of your fundraising event, be aware of what you will, and will not, realistically be able to do. Starting early gives you time to counterbalance shortcomings with creativity, do-it-yourself work and budgeting so your supporters have the best experience at your event.
Budget: How to Pay For Your Fundraising Event
4. Sponsors are invaluable. Reach out to local and big businesses to see if they would like to sponsor part, or all, of your event. When you pitch to potential sponsors, underestimate your event turnout so they will be pleasantly surprised when your event delivers a higher attendance.
5. Create an estimated financial plan and expense budget. Estimate the funding you expect to receive from sponsorships and ticket sales, as well as how much money you believe your event will raise from each fundraising approach (text to donate keyword, ticket sales, live auction, etc.) Then make a comprehensive list of all expenses you foresee incurring so you can highlight items towards which potential sponsors can contribute.
Partnering with brands and business sponsors saves your organization money and resources while providing them great exposure.
6. An impressive 81% of consumers switch to brands that support a good cause. Start soliciting “in-kind” donations from local businesses early on to allow time for approvals and contributions. Ask the event venue, local catering companies, restaurants or bakeries, and entertainers/artists to support your cause with the charitable donation of their time and services.
Remember to thank partners and sponsors in writing and display their information in printed and digital material before/during/after the event.
Getting People to Attend
7. Consider crowdfunding prior to your event. Set up a campaign and empower current supporters to become ambassadors for your organization. A ticket to the event could be an incentive to reach a minimum donation amount. Crowdfunding allows individuals to set up custom donation pages that are easily shared with friends, family, colleagues and social networks. Each crowdfunding individual raises an average of $568 versus an average traditional one-time gift of $139.
8. Determine what will make people want to attend your event and support your cause. What will attract them? Is it an expert speaker, or a celebrity honoree? Also, incorporate a transformational activity during the event that educates supporters about your mission, helps them to connect to your cause and clearly see the impact they can make through their generosity. By combining attraction and purpose you’ll be able to pull together a fun and memorable event to which your supporters will be happy to RSVP.
9. The early bird catches the worm. Offer incentives like discounted tickets or gift bags when people register early instead of waiting (and forgetting).