Our objectives drive our individual giving fundraising activities. Are they changing in light of macro changes?
In this blog, we explore key findings from the Woods Valldata 2024 Individual Giving Survey and insights shared during Woods Valldata’s The Lowdown webinar. Including first hand accounts by leading fundraisers: Alice Herzog (IRC), Nesha Kandiah (RNIB), and Jenni Roberts (RNLI). These trends highlight how the sector is adapting to new challenges and opportunities.
Individual giving fundraising provides vital income for UK charities to support their services and their beneficiaries. In fact, donations and legacies represent 31% of charitable income according to the Charity Commission for England and Wales. According to BlackBaud, individual giving ranks 3rd most important income stream after legacies and grants for large charities.
For fundraisers, this is one of the most rewarding and challenging areas to work in. With an ever-changing economic and social landscape we need to constantly review and assess our objectives so that we can meet the needs of our charity mission.
Here are 5 key objectives for individual giving fundraisers in light of research conducted by Woods Valldata.
1. The current priorities in individual giving fundraising
The Woods Valldata Individual Giving 2024 survey data reveals a shift in the main objectives of individual giving fundraising. While supporter retention dominated in 2023, 2024 has seen a rise in income growth and supporter acquisition as top priorities. This change reflects the pressing need for many charities to expand their donor base and increase revenue to meet growing demands for services.
Retention remains significant, with 50% of survey respondents citing it as a key goal, but its relative prominence has decreased compared to the previous two years. This indicates that while retention strategies still underpin long-term success, many charities are prioritising short-term income growth through such as cash and emergency appeals to sustain operations now.
2. Breaking down siloes and integrating different channels
A notable trend is the increasing focus on integrating fundraising approaches across channels and breaking down internal silos. These objectives, closely tied to income growth and acquisition, highlight the importance of collaboration within charities. As Jenni Roberts from RNLI shared, cross-departmental initiatives can drive donor engagement by aligning legacy programs, retail operations, and other touchpoints with individual giving strategies.
By fostering collaboration internally, and externally with suppliers, charities can create seamless donor journeys that enhance both acquisition and retention efforts, ultimately contributing to greater income stability.
3. Digital growth and innovation as enablers
Charities are also focusing their efforts around developing digital tools and innovative approaches in individual giving fundraising. According to the survey, the relative importance of these objectives across the years remain steady, and were seen by the webinar panel and attendees alike as essential in supporting acquisition and retention efforts.
For instance, Nesha Kandiah from RNIB emphasised the potential of digital lotteries and gaming to attract high-quality donors with strong lifetime value. Similarly, charities like IRC are leveraging digital channels to diversify their acquisition efforts and reach new audiences.
Innovation allows organisations to take advantage of the latest technologies and techniques, whether that’s integrating AI into data selections for a more personalised approach, reflecting on donor motivations to tailor offerings and make them more relevant or, creating products that resonate with a different audience demographic.
It’s clear that digital and digital innovation are high in priority for many charities. But we should not divert all our attentions to the new. Direct Mail, according to a poll of 77 people in the webinar, continues to deliver a significant proportion of individual giving fundraising income (68% for cash appeals, 30% for regular giving) and therefore should enjoy the right level of attention in our fundraising strategies to continue to deliver good results each year from its key audiences.
4. Retention's role (despite a shifting focus)
Although the survey data suggests the spotlight for individual giving fundraising objectives is on income growth and acquisition, retention remains a cornerstone of successful individual giving programmes.
Smaller and regional charities, in particular, benefit from loyal donor bases that may require only a little stewardship to stay engaged. For larger charities, retention efforts often involve inspiring repeat giving through meaningful engagement strategies.
Jenni Roberts highlighted RNLI’s balance between income growth and supporter care. By treating existing donors well and fostering loyalty, RNLI ensures long-term income stability whilst also driving new acquisition efforts.
5. Get support where and when it's needed
The evolving objectives of individual giving fundraising underscore the need for flexibility and innovation in the charity sector. Whether focusing on acquisition, retention, or integration, charities must adapt their strategies to meet changing demands. Watch The Lowdown webinar 2024 in full on demand or find out more about where Woods Valldata can support you today.
At Woods Valldata we’re your partners in possibility. Whatever you want when you outsource your cross-channel fundraising programmes – insight, strategy and innovation driving growth, or reliable processes and continuous improvements delivering faster and more accurate banking, thanking and fulfilment – we make your supporters feel appreciated and elevate your ability to achieve more.
Contact us today to explore how we can help your charity achieve its individual giving fundraising objectives, from driving acquisition efficiencies to innovating with prize-led fundraising.
