Battle Inflation with Incentive Giving Fundraising. Start with a TapKat Sweepstakes!

With inflation running at its highest levels since 1981, many individual American donors are feeling the impact: from the gas pump to the grocery store to interest rates on home loans, the world is looking a lot more expensive to everyday Americans than it was a year ago. 

The June Survey for Consumer Expectations, a monthly survey of U.S. households by the New York Federal Reserve Bank which gauges consumers’ outlook on the economy, determined that consumers’ inflation expectations over the next year hit record highs this past month — meaning that families across the country are buckling down and preparing for a tough economy. 

So what does that mean for your nonprofit? 

To a nonprofit, those “consumers” equate to “individual donors.” It means that your donor base is most likely tightening their purse strings — but every economic downturn also presents opportunity, and with some creativity and strategic thinking, your organization can not only survive, but thrive during difficult economic periods. 

Here’s how… 

Adopt an ‘Incentive Giving’ Fundraising Model

Now that people are feeling the impact of inflation more immediately, they need more incentive to open their wallet, even for incredible causes that they deeply believe in. The “give for the sake of giving” model may not be as effective now that a carton of eggs costs $7.

Instead, adopt an ‘incentive giving’ model for fundraising. 

If you listen to public radio, you’ve likely seen this model before: “Give $15 and you’ll receive our custom tote bag!” Usually the fundraiser gives away branded mugs, beer steins, key chains, and other tchotchke-like items as an incentive for donors to contribute. 

Here at TapKat, we’re all for the incentive giving model… and we like to kick it up a notch! What if, rather than a tote bag, the donor’s incentive to give is the chance to win a life-changing prize? Something like… the vacation of a lifetime, or a hot new motorcycle, a stunning piece of jewelry, or even solid gold? 

The fun is in finding a prize that captures the imagination and sweeps donors away in the fun of picturing themselves as the big winner.

A TapKat sweepstakes is a super-charged incentive giving model for fundraising that really excites and activates donors. The fantasy of winning something that they would otherwise never have a shot at obtaining or experiencing is tantalizing, and the fact that they’re also donating to a good cause is a huge bonus: for them, it feels like a big win. 

This fundraising model is a powerful way to engage your base and bring new people into your sphere. Plus — it’s really fun!

TapKat Sweepstakes Prizes are Exciting and Offer an Escape

Many studies have been done demonstrating that when the economy gets tough, lotto ticket sales increase. It is well-documented that people start looking for inexpensive forms of entertainment, escapism, and the chance to win — and sweepstakes provide all three of those incentives, plus they raise money for a good cause! 

In fact, during the 2020 pandemic lockdowns while many businesses struggled, nonprofits running TapKat sweepstakes saw huge upticks in donations. Donors love the chance to win something that they wouldn’t be very likely to purchase for themselves, and they want to support charities.

Because sweepstakes are so compelling for donors, it is common for individuals to enter TapKat sweepstakes multiple times throughout the duration of the sweepstakes. Every time they receive an email from the nonprofit, they’re reminded of the amazing prize that’s at stake and toss in another $50 or so (the average TapKat sweepstakes donation is about $57) to increase their chances of winning. 

We provide our nonprofit customers tools like flash contests and promo codes to help make the most out of this tendency on the part of donors to donate more than once. Our goal is to give nonprofits everything they need to raise impactful funds, while helping donors feel great about their contributions. 

There is No Upfront Cost to Run a TapKat Sweepstakes 

With prizes on consignment, and a “minimum raise” rule for every sweepstakes, there is no risk for your nonprofit to run a TapKat sweepstakes. 

The process of running a TapKat sweepstakes is intentionally fiscally cautious to give your nonprofit everything it needs to hit your fundraiser out of the park. There are no upfront costs to use our platform, and no hidden fees. Once donations start rolling in, TapKat’s modest fees and the payment processor’s fees are deducted — and the balance is deposited directly to your nonprofit’s bank account. 

Because you’re running a sweepstakes (and not a raffle), there are no government restrictions on how or when you can use the funds, or how much money you can raise. 

Sweepstakes truly offer a structure for significant incentive giving fundraising that can make a huge difference for your nonprofit. 

Raise More Money with TapKat Sweepstakes

Inflation is a tricky adversary for nonprofits, but fortunately, there are very real and effective ways to confront the challenge. Sweepstakes enable organizations like yours to incentivize donors to continue giving in a way that feels good for everyone, and has the potential to keep your nonprofit going strong through good times and tough times. 

Ready to get started with a TapKat sweepstakes today? Click here to start building your sweepstakes site.