- There will be a demand for more services
The COVID-19 pandemic has led to many problems, most of which require nonprofits' services to surmount. Although we hope for the recovery of the economy later this year, many people will still need help to address various challenges that include food insecurity and poverty. According to a 2020 report by the United Nations, the pandemic pushed back 70 million to poverty in 2020. CDC, on its part, noted with concern that there is an increasing number of people who have various stress-related mental conditions due to the pandemic. With these statistics, nonprofits will need to find ways to respond to the rising and changing needs of the communities they serve.
- There will be a transition to digital events
Although in-person fundraising will continue to exist, the transition to digital events might have just started with the pandemic. Throughout the pandemic, digital events have proven to be the cheaper and effective alternative to in-person events. They allow nonprofits to surmount the geographical barriers and encourages engagement from donors who would not attend if they were in-person. Data generated from online meetings can also be used to get valuable insights into the donation activities and how the future can be planned.
- Technology will help nonprofits evolve
Nonprofits will take advantage of artificial intelligence, enhanced communication technologies and blockchain to find and reach suitable donors. For example, social media conversations and direct emails are used as the main methods of communication where nonprofits target their potential audience. However, with artificial intelligence, tools such as automation will make these platforms better by introducing personalized messages. These technologies and others like chatbots will reduce the effort involved in looking for new potential donors and increase conversion rates.
- Partnerships, joint ventures and mergers in the nonprofit sector will increase
Although partnerships, mergers, and joint ventures are mainly associated with for-profits, nonprofits sometimes use these strategies. With the increasing challenges, most of which demand a collaborative approach in terms of resources and expansion of operations, we will likely see this happening in the nonprofit sector in the coming months. Nonprofits will enter these kinds of ventures to build their capacity and take advantage of each other’s potential in addressing specific problems in the society. We will witness nonprofits having conversations with one another on making a lasting impact on society as challenges increase.
- Central management of data will be used to enhance transparency and efficiency
Data is a valuable component in planning, reporting and marketing for nonprofits. Sadly, many nonprofits have no strategy for managing massive volumes of data that comes from different sources. Since the pandemic began, data from these sources have been coming in thick and fast, often overwhelming nonprofits. To survive the changing landscape, nonprofits will need a data strategy that can use this data. One of the solutions to this challenge is creating centralized data management to enhance collaboration, audience segmentation, and better reporting and forecasting. This will significantly improve nonprofit management.
