Raising Funding through Award-Driven Fundraising Campaigns

By: Tetiana Hanchar Tetiana Hanchar
Date: Nov 03, 2017
Comment: 0
Category: Awards Marketing

Raising money is often identified with risks and apprehension. Will I be able to raise the necessary amount of money? How do I convince people to make an investment? Is it only about money? These are only some of the questions that torture event planners when they are about to become money-makers for the client. By setting up award-driven fundraising campaigns, you get a win-win situation: create engaging experiences for attendees and reap monetary benefits for the client’s organization.

What does an award-driven fundraising campaign mean?

Award-driven fundraising campaigns define events that focus on collecting money through rewarding activities. Raising money is typically used to support businesses or organizations through voluntary contributions and donations.

To set up a successful fundraising campaign, asking people to donate isn’t enough. But if you have something to offer in exchange, the odds can spin in your favor. Award campaigns help create useful experiences for participants and attendees in return for voluntary contributions. If you can make the occasion work for both sides, you won’t end up losing.

The importance of raising funding

You can find a thousand of reasons for raising funding. For businesses, such campaigns may be the only way to keep from floundering under the burden of debts. Associations and NGOs need funding to accomplish projects and launch programs. Charity organizations collect money through fundraising to support the needs of individuals and communities.

The world economy is marked with a deficit, which means not everyone can get financial support from public or private organizations. Fundraising is the only way to maintain the existence of associations and originate new projects.

How to launch award-driven fundraising campaigns

To raise cash through award events, you need to develop a strategic plan that aligns the needs of the client with the profits for campaign participants. Here’s a step-by-step guide to launch an awarding campaign that makes money:

Establish 2 layered goals. When you start an award-driven fundraising campaign, you have to think in terms of two essential goals: raising funds and rewarding participants. To develop a working campaign, these two aims have to go hand in hand throughout the event. Setting the desired amount of money that your event plan should generate is crucial, but don’t forget about the experiences of attendees. They are the main money-donors here!

Create a relevant award objective. “Relevant” is the main idea here. Award-driven campaigns have to fall in line with the aims of their fundraising. Let’s say, you aim to raise money for the launch of software that can be used for clinical purposes. In this case, it is a great idea to invite medical professionals and encourage them to submit a “Clinic development project” in the frames of your award campaign.

Set a smart budget. To collect investments, you have to be the first one to invest. Set up a clever budget for your event with some extra expenses included, but make sure that it does not exceed donations. As an example of smart budgeting, you can charge fees for participation in your award campaign to maximize the profits.

Present a mission. While the event set-up is crucial, there is nothing more important than presenting the mission of a fundraising event to the audience. Since this is an award campaign, you’ll have to announce the aims at the launch early enough to prepare the audience. Mention all key values and aims that you follow in the promotional materials and follow up by emphasizing them at the event.

State all conditions for participation. Depending on the type of the award campaign, people will need to understand the concept of participation. Whether it’s a startup pitch, industry awards, or a creative contest, be clear to state the conditions for entering the awards event.

Say thank you. It’s unbelievable how much value a simple “thank you” has when it comes to fundraising. Even if you’re not fully satisfied with the outcomes, say thank you to those who give you their support. Who knows, you might need these people sometimes down the road.

The ways to improve fundraising campaigns

To boost your results, make the best use of the following tips in your fundraising adventure:

Be an aggressive marketer. Fundraising campaign promotion has to reach as many people as possible to generate effective results. Market your event aggressively and don’t forget to highlight the award part. This will definitely drum up some interest.

Leverage the power of digital. Promote on social media and popular online marketplaces to spread the word about your campaign. You can also set up an online contest and announce the winners’ names at the in-house event.
Automate contest set-up. Through the use of an efficient automated software for awards management, you gain high marks for your campaign and reduce the workload.

If you’re ready to experience the intricacies of money-making through award campaigns, get started with Judgify for free.