In From Objections to Opportunities: Winning Over Donors I covered some of the reasons donor hesitations and objections are normal, and nothing to be feared. Rather, they present an opportunity to get to know your donor prospect better and potentially forge an even stronger relationship. There is one secret I’ve found to work like magic in…
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In Avoid these Key Obstacles to Successful Major Gift Asks I covered how to ask like a pro. Today I want to begin a two-part series on how to deal with donor objections like a pro. Sometimes donors say “yes” right away. More often, they don’t. You may not get an outright “no” (in fact,…
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In Proven Strategies to Take Charge of Major Donor Asks we delved into the topic of major gift fundraising asks.Specifically, we covered (1) four elements of a successful visit and (2) four elements of a compelling offer. Feel free to refresh yourself before we move on.
Now I want you to truly think about the offer from the recipient’s perspective.
As insiders, we often don’t stop to think about the outsider perspective. It’s just human nature to become so absorbed in a topic it starts to seem obvious. To us.
When crafting your compelling fundraising offer however, it’s important to stop and consider how it may be received. As noted in Part 1:
When crafting and making a major gift fundraising ask, make sure you incorporate the following into your planning:
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Before asking, begin by assuring you and your donor are on the same page.
The major donor journey is generally a long one. It’s important to craft a blueprint for the process and take time, along the way, to assure the journey is sparking joy and bringing energy — for you and your prospective donor. If you’ve never asked for a major gift, it can seem scary. Even if you’ve asked in the past, the process can still seem daunting. This article is designed to help take the worry out of asking for a major gift. How? By putting it in context and framing it as an opportunity, not a burden.
As long as you’re providing value to the donor, you’re in a good place. Value can take many forms.
Lead with the value you provide and the benefit they’ll gain if they meet with you. The value you offer at any point in time depends on the donor and where you are in the process of wooing. Provided you’re generally (1) clear, (2) compelling, (3) courageous and (4) careful, you’ll surely succeed.
Let’s dig a little deeper into each of these important components.
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What must you keep top of mind to have meaningful conversations with donors who (you hope!) may contemplate a gift to your organization?
I’ve given you a hint within my question.
One word: meaningful.
For a conversation to be meaningful, you have to speak in a language that resonates with the other person.
And what is it that resonates more strongly than just about any other emotion?
LOVE.
To get folks to “YES,” you must learn the language of love and apply it to gift planning.
The word philanthropy literally means, from the Greek, the feeling of love (philos) towards humankind (anthropos).
It’s not just about HOW people give, but WHY.
What about your organization’s enacted values is your donor is most passionate about?
How can you, as a philanthropy facilitator, make it easy for the donor to meaningfully express their feelings and passions?
Passionate philanthropy is seldom a spur of the moment action.
No one just gets up one morning and decides to give away $10,000, $100,000 or $1 million.
Or let’s just stipulate it’s relatively rare.
Rather, would-be philanthropists consider how making a particular gift at a particular point in time may match their values and help them accomplish their objectives, personal and philanthropic.
Anyone who contemplates a major, or stretch, gift plans ahead.
For purposes of this gift planning article, let’s consider your audience to be prospective major (outright) and legacy (deferred) gift donors.
What’s holding you back? Culture? Fear?
How do you help people afraid of fundraising become comfortable in what should be a mission-aligned role for everyone associated with your nonprofit organization?
After all, everyone benefits from increased philanthropy. Not just development staff.
Increasingly, successful nonprofits are adopting cultures of philanthropy where everyone involved – administrative staff, program staff, board members, committee members, direct service volunteers and even beneficiaries – comes together as ambassadors, advocates and askers on behalf of furthering the organization’s mission, enacting its values and fulfilling its vision.
Facilitating philanthropy is not rocket science, yet folks unaccustomed to the relationship cultivation and solicitation required to land major donations are fearful because they believe they don’t know how to do it. Actually, they do. They just need some guidance, hand holding and support along the way. Reluctant fundraisers tend to think fundraising is just about money. It’s a lot more than that.
It’s the job of a nonprofit’s leadership to work with insiders (staff and volunteers) to help everyone feel both passionate about the cause and confident in the fundraising process.
Of all the barriers to be overcome; first and foremost is fundraising fear. This fear takes many forms, and is perhaps best expressed in some of the questions I frequently receive. So I’m endeavoring to answer these questions below. Hopefully this will help you address these challenges within your own organization so you, too, can transform folks from fearful and reluctant “fundraisers” to joyful and ready “philanthropy facilitators.” It simply takes a little elegant reframing.
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What makes an effective major donor solicitation?
I could just say (1) prepare, (2) prepare, (3) prepare, (4) prepare, (5) prepare, and (6) prepare.
Did I mention that you really need to prepare?
Preparation is the meta-message of Shark Tank’s “Mr. Wonderful,” Kevin O’Leary, to would-be entrepreneurs seeking to get spots – and funding – on the television show.
In “How to Present the Perfect Pitch: From the Shark Tank to the Boardroom” he offers 10 strategies to help you ace a fundraising presentation.
Whether you’re seeking venture capital or a philanthropic gift, many of the principles are the same.
I’ve selected six strategies I find perfectly aligned with what it takes to make a successful nonprofit ask. I’ve also suggested eight specific action tips. Take them to heart, and you’re sure to make your next in-person fundraising presentation a winner.
Oh, and there’s one more important thing, says O’Leary:
“The number-one rule is to make your pitch incredibly dynamic.”
Let’s do it!
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All you’ve got to do is ask!
Seriously. The number one reason people don’t make a major gift – or any gift for that matter – is no one asks them.
But I’m getting a bit ahead of myself.
Before you can ask, you have to know a few basics:
Let’s take these fundamentals one at a time.
Not everyone in your donor base is a major gift prospect.
Even if they were, you probably don’t have the bandwidth to cultivate and solicit all of them right now. It’s just common sense to prioritize those donors with whom you’re most likely to succeed. There’s no hard and fast rule as to how to pick this priority group.
I generally advise starting with
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Assuming people don’t want to be asked to make a philanthropic gift is one of the biggest misconceptions of what constitutes being donor-centered.
Or even kind, thoughtful and respectful.
Alas, when you spend all your time on cultivation, assuming folks don’t need a direct ask and will simply give spontaneously as a result of being passively asked, or even outright wooed, everyone loses.
Why?
FIRST: Donors want to be asked because they’re starved for the love that comes from voluntary giving and receiving.
Donors have love to give, but don’t always have an object towards which to direct their affection.
SECOND: Donors need to be asked because when they’re not, they don’t know how much you need their help.
Consequently, giving feels a bit like a crap shoot. Empty, not meaningful. Donors want you to honestly tell them when and how and how much to give, so investing their money fills them with confidence it will be appreciated and do the most good.
Don’t make donors guess whether you truly find them worthy of loving you.
One of my favorite songs is from the Jefferson Airplane:
When the truth is found to be lies
And all the joy within you dies
Don’t you want somebody to love
Don’t you need somebody to love
Wouldn’t you love somebody to love
You better find somebody to love
What are you, and all these people, doing with the gift of life?
Sure, everyone is busy, busy, busy.
But is all that busy-ness making folks happy?
Are people stopping to really think about what makes their lives meaningful?
Sometimes, yes.
Often, not so much.
You can help would-be donors stop and smell (and enjoy) the roses, so to speak.
Remember, behind all your work there are people. It’s your job to learn about them. One of your best tools is curiosity. One study published in Harvard Business Review, found curiosity builds trust and improves relationships in the workplace. It also builds trust between you and donors. Jon Simons, Executive V.P. of DBD Group, suggests curiosity is…
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