Your outreach initiative loses major donor support. How do you pivot and secure new sources of funding?
When a significant donor steps back, it's crucial to reassess and expand your funding strategy. Here are some actionable steps:
- Network proactively. Attend industry events and connect with potential donors who align with your mission.
- Explore grants and foundations. Research organizations that offer funding for initiatives like yours.
- Leverage social media campaigns. Crowdfunding can engage a wider community and generate grassroots support.
How have you adapted your funding strategy in the face of change? Share your experience.
Your outreach initiative loses major donor support. How do you pivot and secure new sources of funding?
When a significant donor steps back, it's crucial to reassess and expand your funding strategy. Here are some actionable steps:
- Network proactively. Attend industry events and connect with potential donors who align with your mission.
- Explore grants and foundations. Research organizations that offer funding for initiatives like yours.
- Leverage social media campaigns. Crowdfunding can engage a wider community and generate grassroots support.
How have you adapted your funding strategy in the face of change? Share your experience.
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Some funders change their funding formula or priorities often or without notice, so be careful that you don’t pivot in ways that compromise your focus. Collaborate with your team to find any and all pockets of success, growth and improvement then update your marketing materials and messaging in ways that showcase those specific successes and areas of growth. Focus on highlighting and showcasing those things your organization has always and still does well as you pivot to secure new funding. You may be able to secure new sources of funding by examining, correcting and addressing potential reasons you lost funding. Do this type of review with the purpose of gaining more clarity around the goals and guidelines surrounding your mission.
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Our strategy has also been to diversify. We target multiple sources and try to balance what we call in academic circles, category 1,2 and 3 funding. We have also recently been dipping our toes in pool of philanthropic funding. Not only do these different funding sources align with the multifaceted nature of our work, a diversified approach ensures we do not become dependent on single source providers.
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After losing one of the primary sources of financial support, our fundraising tactics were expanded further we adopted many. These consisted of soliciting smaller donors through narrower campaigns, seeking grants that fit our objectives, and reinforcing corporate relations. We had also improved our communications to demonstrate our effectiveness and strengthen our ties with the donors.
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