There are more and more “innovative solutions” that are being offered to help nonprofits streamline their fundraising practices. Still, many top nonprofit leaders remain skeptical…
How do I know if they will work for our organization? How do I know if they will really make an impact and deliver results?
While many variables can influence the effectiveness of an innovation, there are some key questions you can ask to assess if a solution is a good fit for your nonprofit and if it will assist you in achieving your fundraising goals.
3 Questions You Should Ask When Considering an Innovative Solution
Here’s a framework nonprofit leaders can use to evaluate innovative ideas and opportunities:
- Is it applicable? Take data for example. There are many companies that provide information about donors. But when you have no way to act on that information, how beneficial is it really? The key is contextualized information that provides actionable insights your team can immediately act upon.
- Is it accessible? Data and technology solutions should never get in the way of your fundraising efforts. They shouldn’t make things more complex or difficult, they should make your efforts simpler and more convenient. Will the innovation make reaching donors easier for your organization?
- Is it affordable? There will always be a cost for any solution, but can you justify the investment based on the impact it will have? For example, if a solution to automate your emails will lead to a 10% increase in donor retention. The key factors to consider are upfront and long-term costs versus the return you will experience as a result of the technology.
Finding the Right Solutions Starts by Asking the Right Questions
The technology solutions that were once reserved for Wall Street are making their way to Main Street. You must be willing to embrace them.
Don’t let skepticism keep you from employing new innovations. By applying the questions above to new technology, you can get a better idea if the solution will contribute to your overall strategic goals, aid your team in maximizing efficiency, and deliver your nonprofit a positive return on investment.
At Pursuant, we believe we have an obligation to make new technology applicable, accessible and affordable to every organization, including small- and medium-size organizations.