In today’s world, innovation has completely transformed our lives in ways that were previously thought to be practically impossible. Besides innovation, how we do some things has also changed out of necessity, and in the end, we end up seeing the benefits of the new approach. For instance, in 2020 and 2021, when the novel Coronavirus pandemic wreaked havoc worldwide, Canadian casino goers who preferred in-person action had to embrace Canadian online casino platforms instead.
That brings us to today’s subject of discussion, the growth and development of fundraising platforms. These money-raising platforms have been around for over a decade now. And while that may seem like a long time, the fact is that they are still evolving. This is not surprising when you consider that, like any other service provision facility, they are built to adapt to technological and societal changes in a bid to remain relevant.
So, fundraising platforms are constantly looking for ways to make it easier for individuals, charitable organisations and private equity or venture capital firms looking to raise some cash for their projects. In today’s post, we’ll look into the latest trends that the said platforms have recently been using to make things happen faster and more efficiently.
Social Media
Social media became one of the most dependable ways to engage with potential donors during the pandemic season. Well-established accounts with a solid and committed fan base have managed to lobby their followers to donate to different causes. Social media strategies are usually tailored to the target audience, and they work effectively as user data is collected beforehand to inform personalised calls to action.
Of course, there is the challenge of consumer data rights. But thankfully, big data companies are constantly working on setting new privacy policies that would benefit all parties without compromising users’ rights. As such, social media may continue to be a productive way to raise funds.
Live Streams
Live streams have gained traction, especially during the pandemic, as they provide personalized experiences that encourage audiences to contribute to causes that they believe in. The most common platforms currently include Facebook Live, YouTube Live and OnZoom donations, which all allow event organizers and content creators to fundraise as they interact with their target audiences.
Interactive online fundraisers have proven effective as followers and attendees are more bound to respond to any calls to action mentioned in the event. Live streams may also be incorporated into hybrid events where potential donors have the option of attending an event in person or online while still feeling involved in the activity.
Subscription Giving
Online users have often found it convenient to opt for subscription-based goods and services as they save the trouble of having to initiate payments every time they are due. Fundraisers are jumping onto this trend by providing customized packages or unique content that appeals to users to sign up at a small monthly fee. Some of the best platforms of this kind for content creators include:
- Patreon
- Chargebee
- Pico
- Memberful
- Recurly
Through these subscription platforms, fans that are enthusiastic about promoting an artist consume the content with an assurance that the creator will benefit more in the long run. That’s because the content creator’s proceeds would be much less if their audiences were engaging with the material on other platforms such as YouTube.
QR Codes
QR codes have become a popular way of linking fundraisers to potential donors with little effort required, as donations can be made with just a few clicks. However, for this to be effective, they have to be strategically placed to draw the target audience’s attention and move them to action.
The codes can be used in marketing campaigns which may be on social media or through emails. Moreover, some platforms even include real-time support for interested parties to engage with the resource mobilisers directly. Better still, others have analytics to help campaigners better understand their donors.
Artificial Intelligence
As fundraising platforms get bigger, the amount of shared and collected data is also growing exponentially. This is where AI and machine learning come in, as they automate the processing of such data. Thus, fundraisers will get their audience metrics faster – which saves time so they can focus more on other aspects of the campaigns. In addition, just like in digital marketing, AI can increase conversion rates for online donors through personalised experiences based on their activities.
As technology continues to evolve and bring new ideas to propel humanity further into the future, practically all industries are experiencing unprecedented shifts. As a result, it is becoming apparent that there will be a point where donations will not be possible without the use of online platforms.
Accessing donors regardless of where they are in the world is one of the most significant benefits of digitising the donor world. The future is undoubtedly here, and there is much to be celebrated as we witness more emerging trends designed to hasten the distribution of resources where they may be needed.
