The Latest in Virtual Fundraising Events + Conferences

Two months into the COVID-19 pandemic and it’s not all bad news. In the world of fundraising, the organizations that have continued to actively engage their donors and fundraise for their cause are seeing powerful results. Early research is coming out about the donor mindset during crisis, and data from early fundraising efforts show there’s actually a lot of good news.

Our work is always focused on events, specifically fundraising and program-based events, that bring people together and create a collective experience. For the past two months, we’ve been converting conferences, movie screenings, trainings, galas and luncheons into online events. And we’re happily surprised to see that virtual events are outperforming in-person events in almost every way!

Virtual events are:

Yielding increased and more diverse attendance
Creating access for attendees to participate from all around the world
Removing barriers to participation
Meeting and exceeding revenue goals
Cheaper to produce

There are some rules that we know about events that still ring true, even in a virtual world. But if you apply those rules, you’ll find success in going virtual.

Below, we’ve detailed the rules, data findings and tips for both virtual conferences and virtual fundraising events.

VIRTUAL CONFERENCES

In an educational setting, adults come together to learn at conferences expecting three things:

Connection – Conferences provide the opportunity for colleagues and peers to build connections for support and collaboration long after the conference is over.
Inspiration – Day-to-day, but especially now, remaining inspired about the work we do is critical to retention and continued motivation. Conferences are places to be inspired, to hear from the best and to be fueled to go back and continue your work.
Tools – The primary driver for attendance at a conference is securing implementable tools and key learnings that can be adopted in the workplace. Learning new skill sets and being able to apply them, not in theory but in practice, are critical to the success of a conference gathering.

These are all possible with virtual conferences.

Zoom Video Communications is one of the easiest tools to use for a virtual conference, as many people have already adopted Zoom for meetings and family gatherings. When partnered with a tool like Mentimeter or Whova, your Zoom presentations can become more interactive. If you have an inspiring keynote with good educational content delivered in short format, all you need to be successful in a virtual format is the connection. Utilize a platform that allows guests to easily engage with each other, have side chats and share their contact information. Conferences can be very successful in a virtual event space and the added benefit is that people don’t have the barrier of travel.

Currently in the virtual conference event space, we are seeing:

Sponsorships remain steady
Attendance has increased 10-20% when content is accessible
Satisfaction surveys are showing increased value and enjoyment
Attendees indicate that their reason for participation is to find shared resources and solutions for managing work, teams and innovation to get through the pandemic
Reduction in ticket sales because most content is being offered for less than half of the in-person price or free

Top tips and recommendations for virtual conference and training events:

Find ways to connect and interact directly with your guests—increased touch points create increased value
Allow guests in Zoom meetings to see each other and interact with each other
Ask all attendees to share their headshot, bio and full contact information on your event tool (like a virtual business card)
Use interactive tools to encourage connection and participation
Leave time for people to have side chats and discussions
Make your content accessible by reducing the price point or offering it for free
Be relevant and offer content that relates directly to the current and future implications of COVID-19
Shorten content to be 45 minutes or less per session

VIRTUAL FUNDRAISING EVENTS

Let’s talk about the core ideas that govern fundraising. There are three fundamental reasons why people give that inform every element we design into an event:

Donors want to feel like they are a part of something. Humans have a social need to be connected to each other and to be in community together. We are hard wired that way.
Donors want to make a difference. Stories of impact move people to give so they can be a part of the solution.
Donors want to be recognized. The opportunity to be seen as a supportive member of the community is a huge motivator for people.

Adopt all of these in a virtual fundraising event, and you will see that they can be just as impactful as your in-person gala.

A virtual event is your opportunity to still bring people together to share your stories, to ask for support and to recognize people for donating. It’s not about the theme or decorations anymore, it’s simply about great content. Share the story of how your organization is being impacted right now and how are you responding. Share the need and the struggle. Be vulnerable, direct and proud. Share what your staff is doing to continue delivering on your mission despite the challenges and ask for what you need.

Currently in virtual fundraising events, this is what we are seeing:

Sponsorships remain strong at 95% of prior expectation
Appeal giving is up both from major donors and from new donors
Organizations are averaging 11% of their giving from new donors
Attendance during the live broadcast is averaging about 90% of what was expected for the in-person event, but viewership after the live broadcast is bringing in 3x the size of the audience
Raffles are raising 87% of expected revenue
Auctions are selling at 85% of value
While the gross revenue is often matching or lower than budgeted, the net revenue on virtual fundraising events has exceeded goals 97% of the time
The cost of a virtual event is less than 10% of traditional gala budgets
Auctions get the most traction when they close and open mid-day on a weekday (when people are at their computers)
Private dinners, usable goods, wine and home services are all selling over 100% of their value
Local travel and gift certificates are selling at value
International travel, ticketed events and jewelry are all under performing and selling between 50-70% of value

Top tips for virtual galas and fundraising events:

Continue to engage your sponsors in direct conversations and be creative in your collaborations to showcase their support in this new model
Focus your virtual event on powerful and relevant storytelling
Broadcast your appeal fundraising so that you can build excitement and engagement with a donation thermometer, donor recognition and collaboration to meet goals
Use matching gift challenges to incentivize higher-level giving
Secure large gifts in advance as pre-committed pledges
Share your event after the live broadcast with a call-to-action for people to help close the gap
Share out your appeal story as a direct email appeal a few days or a week after the event
Open your online auction before your broadcast and close after your broadcast so that your virtual event can be used to promote your auction packages and raffle opportunities
Follow the rules in your state for raffle laws and liquor sales

As businesses in your community struggle to reopen, be thoughtful and considerate. This is a time where collaborative ideas can be a promotion for both your cause and your local supporters. Use your virtual events to leverage support for your mission and your community.

Watch the Greater Giving webinar we participated in to learn more about this data and how you can use it for your next virtual fundraising event.

If you need additional resources on virtual fundraising, click here.