New Technologies Can Accelerate Giving
Hyper-Philanthropy™ is all about the acceleration of giving through joy, and one way to accelerate giving is by using new technologies like Augmented Reality (AR) and Virtual Reality (VR). There’ve been recent articles touching upon these topics in Non Profit Pro and the Stanford Social Innovation Review, among other thought leading publications. How does using AR/VR accelerate giving? We have three rationales for why your nonprofit organization may want to start thinking about adopting these technologies:
- Donor Retention: We all know that it’s significantly cheaper to retain a donor than to find a new one, and yet donor retention rates hover between 40-45% year after year. One way we’ve seen our clients increase their donor retention rates is by providing their donors with an immersive experience that lives into DEI ideals. For example, one of our clients that serves the visually impaired sent donors a kit for making smores, along with a blindfold. Then, over zoom, they had everyone attempt to make smores. It was a thought-provoking shared activity that actively built empathy for the service population and centered them. These types of immersive, empathy-driven activities are even more interactive when employing AR/VR technologies.
- Donor Recruitment: One time-honored way of recruiting new donors is The Event. Oftentimes, these luncheons, banquets and auctions cost a lot of money with no promise an organization will recoup what it spent to host the event in the first place. Furthermore, these events often fail to center their client population, instead focusing on the perceived desires of their biggest donors. Using AR/VR technologies, though, an art museum could bring their gallery to a donor’s living room virtually or a school for disadvantaged youth could bring their daily obstacles to a donor’s kitchen. This type of experience lends itself to building empathy with your donors, and we know that one of the top reasons people give to charities is out of a sense of altruism strengthened through empathy.
- Board Engagement: If your Board isn’t as engaged as you think they could be, building empathy with them through the type of immersive experiences provided by AR/VR technologies could be a game changer. From ensuring 100% Board giving for a capital campaign to enhancing the size of those gifts, it’s important your Board is in lock step with your organization’s mission and vision. Interactivity is a guaranteed way to get them there faster.
For all the talk of a “generosity crisis,” Giving Tuesday last year recorded a 15% increase in donations over the previous year. Donors are hungry to support nonprofit organizations that can express their shared values. Contact us today to learn how you can reach them by becoming Hyper about Philanthropy.