It’s been a long year. By now, most of the restrictions have been lifted, many of us are back at work, and the public is out and living life as normal (as possible) again. But the pandemic had a serious impact on many charities. In fact, one in five charities has considered downsizing due to the effects of COVID-19.
It’s now crucial for many charities to find as many ways to generate income for their cause as possible, so they can come back stronger than ever. Here are three simple ways you can boost your charity’s income.
Set up an online shop
There’s no denying the pandemic profoundly affected each of our lives. And one area the pandemic may have permanently affected is how we shop. Online shopping boomed in 2020, with 45.4 million people in the UK making online purchases. It was even forecasted that UK consumers would spend 34.7% more online in 2020 compared to 2019.
With these trends, it’s highly unlikely we’ll revert back to shopping in-store at past rates anytime soon. Many big charities, such as Children in Need, Shelter, and the British Red Cross, have taken to eBay to sell their products. This way, they can access new audiences and generate more income for their cause.
These are bigger, national charities, so you might think it isn’t viable for a smaller, local charity. But that’s not the case. You can still set up a quick ecommerce site or simply use eBay. Then you can even integrate it with your current system, meaning it’ll accurately reflect your stock.
Pop-up shops and events
Pop-up shops and events are a great way to boost your charity’s income. And since the pandemic prohibited social gatherings, we’re more eager for them than ever. People want to get out and about, and what better way to generate income for your cause than to go directly to your audience?
But why not take it further? Car boot sales are huge in the UK. So much so, that, on average, Brits spend £1.5 billion on them each year. Sending out staff to car boot sales can increase donations. For example, if a seller is leaving but still has some goods left over, your staff can ask if they’d like to donate the items and then sign them up for Gift Aid.
Strengthen brand loyalty
By creating strong, long-lasting relationships with both your donors and customers, it’s possible to turn the occasional donor or shopper into a regular. As well as this, acquiring a new customer can cost five times more than retaining an existing customer. And by increasing customer retention by as little as 5%, your charity could increase its profits between 25-95%.
One of the easiest and cheapest ways to do this is through social media. Or you could add a short message to your emails. One experiment by the Behavioural Insights Team showed that adding a message at the bottom of an email increased the number of donors from 6.1% to 38.8%.
As trends continue to change, it’s important to keep up to ensure you’re generating as much income as possible for your cause. But we understand that this can be difficult. That’s why at the Charity Retail Association Conference on the 9th and 10th of September, we’ll be launching CHARiot Web – our cloud-based EPoS system that makes increasing your charity’s income simple.
Curious to see what else CHARiot Web can do for your charity? Come by our stand at the CRA conference in September. Or you can get in touch with us today on 01204 706 000.