How Technology Increases Association Revenue

How Technology Increases Association Revenue

According to NetForum, increasing fundraising revenue for associations can be achieved through proven strategies and the right technology. Here are three effective methods:

Implement a Recurring Gifts Program:

Recurring donations, such as monthly contributions, significantly boost giving from members over time. Research indicates that monthly donors tend to give more than one-time donors. 

To facilitate this, associations should:

• Offer an option for recurring donations on their online forms.
• Provide choices for weekly, monthly, or annual donations.
• Utilize auto-pay options via credit card or ACH.
• Set up notifications for failed donations to take corrective actions.
• Allow donors to manage their recurring donations through an online portal.

Technology can support these functionalities, offering a seamless experience for donors to manage their profiles and payments.

Automate Donor Cultivation through Moves Management:

The moves management system involves strategically planning donor engagement to transition prospects to donors and existing donors to higher giving levels. 

This process requires:

• Identifying donor stages (prospective, one-time, recurring).
• Targeting communications based on the donor’s lifecycle stage.
• Automating these processes to save staff time and enhance strategic focus.

Technology facilitates these efforts by tracking, analyzing, and predicting donor movements and assigning tasks based on donor behavior.

Leverage Data for Fundraising Opportunities:

Effective fundraising necessitates understanding members as donors and utilizing insights for informed decision-making. 

Associations should:

• Maintain comprehensive donor profiles, including communications, touchpoints, and giving history.
• Measure member engagement to identify likely donors.
• Use technology to manage donor data, track campaigns, and measure engagement levels.
• Utilize features like suggested donation amounts based on historical patterns and robust reporting capabilities.

Advanced analytics within Association Management Systems can provide data visualizations, uncover trends, and empower data-driven decisions to enhance fundraising efforts.

By employing these strategies and leveraging a robust Association Management System, associations can significantly increase their fundraising revenue.