Post COVID Fundraising: Focus on Thriving Industries
Updated: Oct 12, 2020
The COVID pandemic has forced everyone to conduct business in more innovative ways. Fundraising in Higher Education is no exception. After months of a stagnant economy and uncertainties, it’s time to be proactive and do everything you can to get on the other side of this downturn as quickly and successfully as possible.
If you work in alumni engagement or donor prospecting, these next few months will be difficult. It’s important to refine your alumni outreach to target the right audience. Mistakenly reaching out to your alumni working in the industries that are hurting will be, at the very least, insensitive. Instead, focus on reaching out to alumni working in industries that are doing well during the pandemic and that are expected to continue to thrive.
Hardest Hit Industries
Generally speaking, the downturn in our economy has been particularly hard on those working in some very specific industries. Many companies have not survived this crisis at all. These sectors could take years to recover to pre-COVID levels.
The hospitality industry (Restaurants, Bars, and Hotels)
Arts and entertainment business such as movie theaters event planning
Brick and mortar retail industries
It’s a good idea to be mindful of the difficulties faced by these industries and be careful not to solicit your alumni working in these sectors for the time being.
On the other hand, the pandemic has opened up a world of new growth opportunities for other industries.
Pharmaceuticals - Pharmaceuticals are racing to the vaccine finish line which will push this industry to its highest levels yet
Cybersecurity - As we become more dependent on online tools for conducting business, cybersecurity will naturally be at the forefront of developing industries
Virtual Meeting Software - After months of imposed home office, it's likely that companies will be more flexible for remote working moving forward.
E-learning Resources - Students of all ages are now going online to learn. Whether they are students seeking a degree, learning a new skill set, or for sheer enjoyment, the e-learning industry will continue to enjoy healthy growth in the near future
Online Entertainment Industry - Companies in the Gaming and Movie Streaming services will continue to boom as people spend more time at home
Supermarkets and Liquor Stores
All of these industries are expected to recover quickly and continue to grow. Alumni working in these industries will understand that your needs have increased due to the downturn in the economy and will more likely be in a position to want to help you.
Let them know that now, more than ever, their community needs them. And you need them. They are the prospective donors that you’ll be the most likely to resonate with.
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