Universities and colleges cannot depend on government subsidies and their student tuition fees alone to fund their operations. These institutions constantly need to develop the quality of their education and research, to maintain some things and/or to expand, all of these require substantial amounts of money. So Deans and Vice Chancellors are faced with the task of diversifying their institution s source of funding to keep them running efficiently. Organize unique fundraising events have been proven to work, but it is not an easy task to do.
Some organizations that need donations from the public have adopted the use of new technologies to make things easier for people who want to donate. An example is Amazon, it uses data analytics and statistics to improve their customer experience. That is what the institutions should do if they want people to continue donating to them, they should reduce the donor s efforts. If they don t, other organizations that do that will become their competition.
Big data and data analysis now allow companies and institutions to make direct marketing. They can extract data about the possible donors and use algorithms and models to predict whether they are likely to donate to academic institutions or not. That way, they will target directly those who are likely to donate instead of wasting money trying to convince those who are unlikely to donate.
Marketing is now made easier with recent social media apps and forms of communication. The institution can use instant messaging apps like Messenger and WhatsApp to send instant messages to people who are likely to donate. And for the rest, social media platforms like Linkedin, Facebook and Twitter can be used to advertise the fundraising projects. YouTube also allows digital advertising and is used by millions and millions of people. So a lot of people may know about the fundraising projects on the internet.
People want to donate money when they want to and they want to decide for themselves how much they want to give away. If the fundraising projects doesn t give them that freedom, they some will withdraw from donating. So, the type of fundraising that tells people how much they should donate should be avoided.
People will support motives which they find useful to them, others or the world. University research is about finding solutions to real-world problems, not everyone knows that. If these institutions make a compelling case to the public about how they impact the world, then some may want to donate to support that.
Tertiary academic institutions have to be able to answer this question; why should I give you money while I can give it to hospices that take care of people living with disabilities, why should I be the one funding someone else s child education?. They should be able to make people understand that they too are also trying to come up with solutions to a problem like these.
Higher education institutions have to use a more intelligent and modern way of fundraising to reach the right people in the right way and to convince the public to support their cause.
Some organizations that need donations from the public have adopted the use of new technologies to make things easier for people who want to donate. An example is Amazon, it uses data analytics and statistics to improve their customer experience. That is what the institutions should do if they want people to continue donating to them, they should reduce the donor s efforts. If they don t, other organizations that do that will become their competition.
Big data and data analysis now allow companies and institutions to make direct marketing. They can extract data about the possible donors and use algorithms and models to predict whether they are likely to donate to academic institutions or not. That way, they will target directly those who are likely to donate instead of wasting money trying to convince those who are unlikely to donate.
Marketing is now made easier with recent social media apps and forms of communication. The institution can use instant messaging apps like Messenger and WhatsApp to send instant messages to people who are likely to donate. And for the rest, social media platforms like Linkedin, Facebook and Twitter can be used to advertise the fundraising projects. YouTube also allows digital advertising and is used by millions and millions of people. So a lot of people may know about the fundraising projects on the internet.
People want to donate money when they want to and they want to decide for themselves how much they want to give away. If the fundraising projects doesn t give them that freedom, they some will withdraw from donating. So, the type of fundraising that tells people how much they should donate should be avoided.
People will support motives which they find useful to them, others or the world. University research is about finding solutions to real-world problems, not everyone knows that. If these institutions make a compelling case to the public about how they impact the world, then some may want to donate to support that.
Tertiary academic institutions have to be able to answer this question; why should I give you money while I can give it to hospices that take care of people living with disabilities, why should I be the one funding someone else s child education?. They should be able to make people understand that they too are also trying to come up with solutions to a problem like these.
Higher education institutions have to use a more intelligent and modern way of fundraising to reach the right people in the right way and to convince the public to support their cause.
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