It’s a Brand-New Year: The Top Three Trends on Deck for Nonprofit Organizations in 2020
Like other businesses, it’s important for nonprofits to stay informed regarding industry trends. As we move into the first quarter of 2020, we’ll look at the top three trends that are helping nonprofits drive their organization’s mission and revenue.
Simplifying the process of everyday giving
According to Giving USA, there was a substantial decline in small and medium-sized donor contributions in 2019, which has organizations increasing their reliance on large donors. Technology is addressing this issue and making it easier for individuals to give by integrating with third-party intermediaries. For example, using smart home devices (think “Google, make a donation”) and chatbots on social media pages allows organizations to meet donors where they are, empowering them with a more simplified and approachable way to give. Other trends include leveraging technology to increase and set up recurring giving options and one-click giving via text.
An increase in corporate partnerships
A recent study conducted by Cone Communications shows that 90% of consumers surveyed said they would switch brands if a company supported a cause they believe in, and 67% of employees prefer working for corporations that demonstrate social responsibility. The fact is, corporate partnerships are an important step for all nonprofits, providing benefits to both the company and the organization. In 2020, we’ll see more nonprofit organizations developing strategic partnerships with corporations to increase their reach and support, promote talent development, meet specific goals and objectives, and provide value-added capabilities with companies that align with the organization’s core values and vision. In turn, commercial businesses will be looking to form strategic partnerships with nonprofits that make sense for their brand.
Greater focus on influencer marketing
According to Nonprofit Hub, 87% of consumers surveyed said they are inspired by an influencer when considering a purchase or donation, 49% will depend solely on influencer recommendations, and 40% most likely will make a purchase after seeing it on Facebook, Twitter, YouTube or Instagram. As a type of amplified word of mouth, influencer marketing has become the fastest-growing channel available and is having a big impact on nonprofits. Simply put, when respected people speak well of an organization — its people, mission, services and impact on the community — their followers take notice and want to share that information with their networks.
The start of a new year is a great time for nonprofit organizations to reevaluate their goals and objectives for the future. Staying updated on current trends can provide insight into key strategies for ensuring long-term sustainability.
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