The success of nonprofit organizations relies on effective business plans and timely solutions. Nonprofits’ inability to earn the same way as for-profit institutions pressures stakeholders to find better ways to make money.
Many nonprofits resort to fundraising activities to generate income. In 2021, donations gathered from fundraising activities increased by 4.1%. This growth has been happening for six years in a row now.
Next to nonprofit training, stakeholders should focus on practical money-making activities. The success of fundraising in the last years makes it more reasonable to try fundraising activities whenever possible.
Fundraising events involve many risks, but when handled proficiently, the rewards can be significantly high. Is your nonprofit organization up to the test?
The following paragraphs look into the best practices of creating fundraising event tickets and selling them online.
How to create fundraising event tickets
Fundraising ideas are limitless! For nonprofit, hosting events is one of the great ways to get financial support. You can attract more donors and sponsors by organizing concerts, exhibits, fairs, and galas.
A crucial part of hosting events is creating fundraising event tickets. Besides generating revenue to offset fundraising event costs, fundraising event tickets also get buyers psychologically committed to attending your fundraising events.
Here are five steps to make event ticketing less complicated:
Step 1: Pick an event ticketing software
Creating fundraising event tickets is less challenging than it sounds. Contrary to what others think, it does not require extensive knowledge and skills in technology. You can download and use event ticketing software. In choosing an event ticketing platform, factor in its ticketing features, reputation, pricing, and integration.
If you don’t know where to start, you can explore the Microsoft Office Suite. The software offers a wide range of event ticketing templates under Microsoft Word or Microsoft Publisher and is easy to use. You only need to choose from the available designs and fill in the information you want to display.
Step 2: Provide the fundraising event details
Your fundraising event tickets should contain specific fundraising event details, such as time, place, and theme. Apart from these, you can provide instructions on how to get to the venue. It is extra helpful for attendees not familiar with the location. You can include the contact information of event organizers too. It allows attendees to get quickly in touch for urgent queries.
A 2017 PSU Research Review article shows that corporate social responsibility has significant positive effects on consumers’ purchasing decisions. You can highlight your corporate social responsibility by inserting a slogan or quote reflecting your fundraising cause.
Step 3: Play with colors
Scientists conclude that sight is the most important sense. People can communicate about vision easier than sounds, textures, tastes, and smells. Hence, the design of your fundraising event tickets matter.
The subconscious drives more than 95% of consumers’ decision-making. Colors are a powerful influencer in consumer purchasing behavior as they establish consumers’ first impression. Warm colors are appropriate for fundraising events with causes that focus on compassion, while cool colors are suited for fundraising events with environmental causes.
Step 4: Select the most suitable font design
Besides colors, you should also consider the font design. Readable fonts, like Helvetica, is a safe bet. If you want to be more adventurous, you can go for difficult-to-read fonts. A recent study suggests that difficult-to-read fonts, like Bradley, are better at communicating value. They force consumers to spend more time reading and processing the information, inducing greater recall and better value perception.
Step 5: Calculate the fundraising event ticket prices
Setting your fundraising event ticket prices is similar to creating a budget for your business. You can’t succeed in either without crunching the numbers. Thus, you need to consider the return on investment of your fundraising events in calculating your fundraising event ticket prices.
The goal of hosting fundraising events is to raise money for your nonprofit organization. Your fundraising event ticket prices should more than cover the expenses of your fundraising events. It would be best to consider variable costs in your event ticketing, such as food and beverages, staffing, advertising, and production. Next, you should identify the profit margin to add to your overall cost. Finally, get an estimate of how many guests you expect will attend.
How to sell fundraising event tickets online
Selling fundraising tickets online is faster, easier, and more convenient. Enhance the benefits of this setup by trying the following tips:
Tip 1: Use multi-channel marketing
Skill Success’ online business courses will teach you that digital selling is about being flexible. Never settle for one strategy when using multiple of them could create more promising results.
In fundraising ticket events, multi-channel marketing can work tremendously well. Nonprofits can increase fundraising ticket sales because nonprofits will sell to several digital platforms at once.
Multi-channel marketing is also ideal for fundraising because donors may come from different parts of the world. The internet will facilitate the participation of distant parties.
Since it is possible to sell tickets anytime, anywhere, nonprofits should connect to more channels.
Tip 2: Hold contests or giveaways
Another dynamic way to sell tickets is through digital marketing. Besides a nonprofit’s website, there are more platforms to advertise an upcoming fundraising event. For example, nonprofit organizations can make regular announcements on social media pages, group forums, and blogs.
Many event hosts make digital marketing more relevant and exciting by setting up contests and giveaways. These activities can promote NPO initiatives and fundraising activities.
The more excited people become, the higher response an NPO would receive. Prepare eye-catching prices to motivate the audience to participate.
You do not hold contests and giveaways all the time. Find the perfect timing.
Tip 3: Offer early bid discount
Implementing discounts will lower your potential sales and revenue, but this tactic will eventually contribute to more significant successes later. In selling nonprofit organization tickets, put discounted prices whenever needed.
Discounts create a psychological effect on the minds of buyers. The shift in perspective caused by the lowered prices entices buyers to purchase.
It is also possible to incentivize early buyers to sell tickets more dynamically. This tactic encourages buyers to purchase early because of the discount.
From the nonprofit’s perspective, having early sales will help nonprofits sell tickets within a shorter period.
Step 4: Select the most suitable font design
Besides colors, you should also consider the font design. Readable fonts, like Helvetica, is a safe bet. If you want to be more adventurous, you can go for difficult-to-read fonts. A recent study suggests that difficult-to-read fonts, like Bradley, are better at communicating value. They force consumers to spend more time reading and processing the information, inducing greater recall and better value perception.
Step 5: Calculate the fundraising event ticket prices
Setting your fundraising event ticket prices is similar to creating a budget for your business. You can’t succeed in either without crunching the numbers. Thus, you need to consider the return on investment of your fundraising events in calculating your fundraising event ticket prices.
The goal of hosting fundraising events is to raise money for your nonprofit organization. Your fundraising event ticket prices should more than cover the expenses of your fundraising events. It would be best to consider variable costs in your event ticketing, such as food and beverages, staffing, advertising, and production. Next, you should identify the profit margin to add to your overall cost. Finally, get an estimate of how many guests you expect will attend.
Final thoughts
Creating fundraising events and selling tickets is crucial to nonprofits. Aside from being a stable source of income, it also helps spread awareness of an entity’s cause and advocacies.
Protecting your finances is an integral part of maintaining nonprofits. But more than being financially stable, stakeholders should also worry about the overall condition of the nonprofit.
Skill Success is a regularly updated library of general education. It contains a variety of subjects, even nonprofit courses.
Your success in managing nonprofits relies on how ready you are in dire situations. So pick up the necessary skills and advance past the challenges.
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