3 fundraising challenges you can solve with AI
It's no secret that fundraising is one of the biggest challenges in the social sector. In fact, 69% of organizations in Latin America consider access to funding one of their most significant barriers.*
Technology, as in most cases, is key to making the process easier. Organizations that use digital tools in their fundraising strategies report a 1.4x improvement.*
Here are some of the main challenges social organizations face in 2024 and how you can use technology to solve them.
1. Achieving Long-Term Sustainability
This is the financial foundation of all your organization’s operations and resources, providing security to expand and maintain your project. However, many organizations struggle to achieve long-term financial stability.
- Diversify your income sources: The Charity CFO recommends variety. Balance between individual donors and project grants. Check out this Opportunity Database we created for you here.
- Refine a unique model for your organization: Some organizations rely solely on individual donors, others on international grants, or a combination of both. Experiment to find what works for your organization and double down on successful efforts.
- Choose the right grant to apply for: Understanding what to say in your application can be tricky. You can streamline the process with GrantBot, an AI assistant that helps you write applications in minutes.
2. Retaining Your Donors
Finding people who believe in your project is hard, but retaining them and ensuring they stick with you through ups and downs can be even more challenging.
- Involve your donors: Make them feel part of your initiative. Create videos summarizing the experiences of the communities you impact or invite them to a video call during your events. Test different approaches to show donors the change they’re helping to create. If you need feedback on your communications, Perplexity is a great tool for providing feedback or ratings on your narratives.
- We have a full blog with a step-by-step guide from leaders in our community. Check it out here.
3. Doing More with Less
We know that social organizations often have limited staff. That’s why using digital tools is essential to optimize resources and maximize impact.
- Design your strategy with AI: Using ChatGPT can save you up to 25 hours when designing a fundraising strategy and drafting your proposal.
- Write narratives in minutes: GrantBot can support you from scratch, helping you write and give feedback on your applications.
- Train yourself and your team: Take advantage of the thousands of courses, workshops, and trainings available to boost your online fundraising efforts. That way, you can make the most of everything technology offers.
If you want to learn how to use digital tools in this and other processes, join the waitlist for our Propel Fellowship here.
Technology is an incredible tool for scaling our operations in countless ways. These are just a few ideas, but use your creativity to grow your project.
*Source: Digital Profile of the LatAm Social Sector 2024.
Written by Alexandra Guerra.
