What is A Fundraising Strategy?

Today we’re talking about grant fundraising and what a fundraising strategy is.  It is important to lay out a fundraising strategy before applying for a grant, so you have a clear vision and goals.   


A fundraising strategy is a systematic approach set out by a charity, CIC or not for profit to secure financial support from individuals, companies, trusts and foundations. It can be a combination of all these funding streams, or just focus on one or two key areas. Overall, the strategy is there to help generate the required revenue to help sustain the day-to-day operations, continue project delivery and implement new ideas.  When fundraising it is important to focus on the right avenues for the organisation and its goals to avoid wasting time and resources.   


Key Components of a Fundraising Strategy: 

  • Goals and Objectives – When starting a fundraising strategy, one of the first tasks is to clearly outline goals and objectives that you are aiming to achieve.  These goals often include funding for a certain project or initiative or raising a specific amount of funds.    


  • Target Audience – Understand your beneficiaries and how their needs fit with the individual, company and grant-giving trust. 


  • Methods and Tactics – There are many methods of fundraising to keep in mind when planning a strategy such as events (both online and in person), online campaigns, corporate partnerships, and grant writing.  Once the main goals of the strategy have been identified, it is important to see which methods would be most effective and successful for you.   


  • Timeline and Calendar – Planning is key, and this includes a timeline that outlines when the funds are needed by and how they are going to be achieved.  This way it is easier to plan the activities needed to generate the funds, and co-ordinate deadlines if grant writing is being used.   


  • Budget and Resources – Developing a budget is a crucial step when outlining a fundraising strategy.  Within the budget it should include everything from marketing and promotions, staffing, resources and equipment, volunteers, catering and event logistics.   


  • Communication and Marketing – Effective communication and marketing strategies are essential for promoting fundraising initiatives.  This involves crafting compelling messages, maintaining consistent outreach to convey your organisation’s mission and impact. 


  • Relationship Building – Building relationships is key when fundraising, because without it it’s more difficult to be successful.  Networking, personalised communication, and cultivating long-term relationships with your supporters is critical in any fundraising activity.   


  • Evaluation and Adaptation – Regular monitoring and evaluation of fundraising activities needs to be undertaken in order to assess performance and track progress.  This will help to realign if things don’t quite go to plan and identify any areas or improvement.  It is important to make sure that the goals ae achievable.   


Final Thoughts  

It is essential to create well-developed fundraising strategy to effectively raise funds and work towards achieving your organisation’s overall mission.  By focusing on setting clear goals, building quality relationships, budgeting, and evaluating regularly this will help to establish a strategy that supports the organisation and its sustainability long-term.   

If you require any further information on grant writing, or have any questions of creating a fundraising strategy, please get in touch with us.   

Pure Awards is an expert business award writing, grant writing and content creation agency with over 10 years’ experience.  For more details about our services and who we are, visit our website.