Innovation, innovation, innovation. It’s the drumbeat echoing through boardrooms, conference keynotes, and strategic plans everywhere. Innovate or fall behind. Innovate or become irrelevant. But when nonprofits (and their agencies) are told—yet again—to “be more innovative,” a fair question often goes unasked: What does that actually mean? And how can it be accomplished?
Innovative Fundraising for Nonprofits
At Concord Direct, our perspective on innovation is simple: It should never be about change for the sake of change.
We don’t reinvent the wheel just to grab attention or appear cutting-edge. Instead, we build a strategic plan for our nonprofit clients that allows us to constantly evaluate and re-evaluate what’s working and what’s not, along with where, how, and for whom.
Don’t get us wrong. There’s a time and a place for throwing caution to the wind and going for the big, out-there ideas. But it’s risky, and the payoff isn’t always there. Taking a more methodical, measured approach ensures that we’re innovating with purpose—grounding our decisions in strategy, data, and a deep understanding of donor behavior.
Innovation in fundraising isn’t about being flashy or trendy; it’s about being effective. It’s about knowing when to challenge the status quo and when to rely on proven tactics. Of course, innovation is challenging to incorporate when teams are focused on planning, executing, measuring, and optimizing existing campaigns—but it’s vital for progress.
The Key to Smart Innovation?
Dedicating time annually (at least!) to brainstorm the big, game-changing ideas. Our collaborative brainstorming process helps guard against a business-as-usual mindset, which often leads to an endless cycle of incremental testing that fails to move the needle on key performance metrics.
Our process is free from the constraints of plans already in place, maximizing the innovative thinking of our entire team, as well as clients when they opt to contribute. Some of these ideas might be riskier or outside the box, but we believe in pushing boundaries strategically and this becomes a safe place to consider them!
Feedback is critical, as we conclude the process by prioritizing ideas, allocating budgets, and translating them into future strategies. By engaging clients throughout our process, we ensure that our ideas align with their mission, voice, and comfort level before moving forward with plans and budgets that balance risk (and cost) with reward.
Powerful innovation grows out of this work, with processes and time to consider budget, resources, test strategies, channels, and other implications. We generate ideas to fuel our progress, from brand-new concepts and offers to opportunities for greater integration and new channels. With this intentional approach to innovation, we’ve developed some truly successful ideas and efforts—some have even led to longtime tentpole moments, unbeatable controls, and completely new approaches. Happy innovating!
Want to learn more about our approach to innovative fundraising? Contact us today!