3 Fundraising predictions for 2022
What’s in store for the fundraising community this year? IFC Founder and Chair, John Baguley makes his predictions…
- Non-fungible Token Art Auctions
Before we get in to the fundraising prediction, let’s clarify what a non-fungible token actually is. Non-fungible tokens (NFTs) are pieces of digital content linked to the blockchain. This is the digital database underpinning cryptocurrencies, such as bitcoin and ethereum. Non-fungible tokens can digitally represent any asset, including online-only assets like digital artwork and real assets such as real estate.
The prediction
NFTs will become part of the fundraising mix with charities accepting crypto-currencies to pay for them. This could be in the form of bids at NFT auctions, with NFTs that have been donated to them.
Right now the modern art market is booming with digital artists like Beeple commanding prices in the millions. Beeple’s auction of ‘Ocean Front’ raised $6 million for the Open Earth Foundation.
Certainly, the concept may be hard to fathom, but you can find a clear explanation on charitydigital.org. We predict that NFTs will soon feature in many fundraising strategies. Are you ready to give it a go?
2. Trustworthiness
Trust and reliability will be major factors in raising significant sums from very wealthy donors. As Covid keeps major donors away from charities and projects, those touch-points that confirm to donors the bona fides of charities, will be replaced by the personal relationship between the potential donor and major-donor fundraisers.
As important, will be the trust between the major-donor fundraisers and the charities they represent: will that charity actually undertake the impact assessment it promised and will they let the fundraisers know as early as possible if things are going wrong at project level or elsewhere.
3. Assessment of online fundraising
Research into and assessment of returns from social media marketing will be crucial to charities’ expansion plans in 2022. Last year charities found that they could attract new supporters in much the same golden-age way that direct mail attracted new supporters years back. However, like direct mail, the percentage returns will lessen and the blunt messaging instruments will need increasing refinements in tone, ask and appropriateness to platform.
That just won’t work without fast detailed analysis of comprehensive tests – remember the obvious: you can usually only test for one thing at a time.
May your fundraising efforts in 2022 be filled with success!
