Looking Ahead to 2023
2022 is quickly coming to a close, and as we think back over the past 12 months, oh what a year it has been.
As we experienced a slow return to ‘normal’ – or rather something more ‘normal’ than the past two years prior, we also faced continued disruptors industry-wide. Everything from delivery times … to inflationary expenses … to a return to in-person events, 2022 continued to keep us on our toes.
But as proved time and time again throughout the pandemic, fundraisers are a powerful breed, mastering the Art of The Pivot with each passing week. So, as we look to 2023, what’s next?
There has been much discussion of whether we are headed to an economic recession in early 2023, and while much remains uncertain, all signs point to (at a minimum) some period of an economic contraction. We wrote about this in our previous posts about the impacts of an economic downturn and limiting exposure to inflationary costs.
But wait, there’s more.
As an agency partnering with nonprofits to accomplish significant fundraising goals, our responsibilities during turbulent economic times are even greater.
All the general strategies and tactics discussed previously still hold true, but there is more our team needs to do to properly support our nonprofit partners. For that reason, as we fly into through the finish line of 2022 and start afresh in 2023, our team pledges the following in the coming year:
Real-time data and analysis: As we prevail during challenging times, we trust data and statistics to guide our way. Because 2021 (and perhaps 2022 as well) may be outliers, we must go back in time to level set the baseline. Using recent inflated numbers may be too aggressive and create a false narrative which will be difficult to repeat during ‘normal’ times, let alone a period of contraction.
Ongoing risk assessment: During rocky waters, it is critical to balance the need to continually innovate with the inflationary world we are managing through. Before moving forward with a new strategy and/or test, we commit to running a risk analysis to determine the percentage lift required to offset additional investment. This type of analysis will help us be better stewards of our partner’s bottom lines.
Judicious resource allocation: Along the same lines as the above, in times like these, it is important to carefully consider the value of new tests/channels to determine if the ‘juice is worth the squeeze’. Tactics like asking string or carrier color tests may be easier to implement, but the value they offer may be limited and simply add complexity which won’t translate into long-term positive program change.
Communication and service: Proactive communication will always serve us well, especially during times of uncertainty. We pledge to continually prioritize proactive communication and treat our partners’ challenges like our own.
Be a light: While the next few months may include a few additional obstacles, we continue to be inspired by our partners and colleagues industrywide. Especially with the strong Giving Tuesday results as our tailwind, we choose to enter 2023 with extreme optimism. We know that whatever the economy throws our way, together we will prevail.
The nonprofit fundraising industry has always been comprised of dedicated professionals who are able to accomplish the unimaginable, and we are sure that 2023 will be no different! So with that, happy holidays and let’s get rocking!
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