The Power of Purpose-Driven Events
Julianne Read
In the evolving, and uncertain landscape of nonprofit fundraising, purpose-driven events have emerged as key components of a successful strategy. Recent studies underscore their significance noting that 57% of nonprofits reported that event and online fundraising contributed to more than 21% of their annual operating revenue. And the format matters. Nonprofits who use a mix of in-person and hybrid events experienced the highest success rates with about 80% meeting or exceeding their fundraising goals.
Beyond financial outcomes though, events create community and belonging among donors, building an eco-system of people with shared values. Donors that connect through shared experiences (read as, “not buying items”😊), have significantly higher rates of lifetime giving and resilience during uncertain economic times.
Last week at the Northwest Events Show, we were in the fundraising fusion lab and there was a collective groan in the group when silent auctions were brought up. Donors are not in a space where transactional giving is as important as connecting to cause. The purchase and sale of items is declining, and when a nonprofit can articulate cause and mission in a clear, sensory, and experiential way, its success rate increases significantly. Stay tuned for next month’s newsletter where we’ll share the story of a client who took this strategy to heart and had incredible success!
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