The Evolution of Philanthropy
By Imad-Dean Kaddoura
Throughout Today’s Canadian charitable landscape, many charities are still living in the past and trying to raise funds the old way, as they have done back in the 1990s. However, the world of philanthropy and fundraising has evolved so much since then.
For a long time, many people defined philanthropy as “the giving of money to non-profit organizations.” However, this definition is quickly becoming obsolete. It is evolving towards a meaning that is more appropriate to today’s giving paradigm and less industry-driven: that philanthropy is “the action of transforming the social well-being of others through generosity.” (Source: Community Funded)
This new outlook on giving is gaining traction in the world of philanthropy. It is the manifestation of the social paradigm shifts that our modern societies are experiencing with the coming of age of younger generations of philanthropists.
Today’s philanthropists don’t want to be solicited by a centralized office whose primary job for the past 30+ years has been to convince people to donate money. Today’s philanthropists want to hear an inspiring story that’s relevant to their lives and in which they see an opportunity to create tangible impact.” (Source: Community Funded)
So how does a Canadian charity move into the 2020s with its fundraising?
To answer this vital question, we start with the following crucial finding:
“Online giving is growing at three times the rate of overall giving.”
(Source: The Giving Report 2020 by CanadaHelps)
Moving into the 2020s
The ultimate objective of all marketing efforts, strategies, and tactics is to drive a steady stream of traffic to the organization and convince people to support it. To the organization, this steady traffic stream mirrors the function of the bloodstream to the human body.
How do we generate steady streams of traffic in the 2020s? The answer is: by employing the most powerful methodology of fundraising that exists today.
What is Inbound Marketing?
| Watch this short video explanation through this LINK HERE! |
“Inbound marketing is a business methodology that attracts customers by creating valuable content and experiences tailored to them. While outbound marketing interrupts your audience with content they don’t always want, inbound marketing forms connections they are looking for and solves problems they already have.” (Source: HubSpot)
The most effective application model of Inbound Marketing today is the “Flywheel” model, which was developed by the global authority on marketing HubSpot.
The Flywheel Trio:
- Attract: attracting supporters and donors with valuable content and conversations that establish the organization as a trusted problem solver with whom they want to engage.
- Engage: presenting insights and solutions that align with their pain points and goals, so they are more likely to support the organization.
- Delight: providing help and support to empower the organization’s supporters to see the impact of their donations and cultivating a long and rewarding relationship with a top-notch stewardship program.
Philanthropy has highly evolved over time, and charities that wish to survive and achieve sustainability must evolve accordingly to avoid a bleak destiny.
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