I often read Maria Popova’s newsletter The Marginalian, and recently happened upon a piece on Marianne Moore on the Three Elements of Persuasive Writing. Moore, a Pulitzer Prize and National Bo Award winner, had set down her views on writing in a series of essays. Being a connoisseur of the art of creating persuasive fundraising…
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Shifting politics are creating economic uncertainty for all, and it’s especially scary for U.S. nonprofits who, on average, receive about a third of their total funding from Federal grants. This means nonprofits today need to shift emphasis (and budget) toward individual donor engagement strategies. Giving USA reports 74% of all giving (lifetime + bequests) came from individuals last year.
Major individual donors are, by far, the largest slice of today’s philanthropy pie.
If I had to tell you what you need to do to succeed with major gift fundraising in one sentence it would be this:
Identify major donor prospects… qualify them so you know they want to build a deeper relationship with you… cultivate them… visit with them… listen to them… reflect back to them what you heard… ask them for something specific that resonates with their passions… steward their gift and communicate in an ongoing way to make them feel like the hero they are!
Whew – that was a mouthful!
But don’t worry. It’s definitely not rocket science. A shorter way to say this is:
Meet with donors. Listen to donors. Ask donors. Thank donors.
See — it’s simple!
It’s just good old hard work. Satisfying and rewarding work. And it’s a type of work anyone can learn to do.
Over my 40 years in fundraising, 30 of them working in the trenches as a director of development for organizations with budgets ranging from $1 – $40 million, I have asked for a lot of major gifts. I know what works, and what doesn’t work. Today I want to give you:
(1) some of my best pro tips and words of wisdom, and also
(2) answers to some of the questions folks frequently ask me .
I hope this information will help you tweak your mindset and invigorate your systems so you can be more successful fundraising in the coming year!
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A few years ago I enrolled in an intensive coaching course. It wasn’t designed just for aspiring professional coaches, but for anyone who wanted to bring a more thoughtful, empowering approach to everyday conversations.
What struck me most was how directly these lessons apply to fundraising — especially donor conversations.
At the heart of this approach are two qualities every fundraiser needs.
When you’re genuinely curious about another person you ask questions to draw them out.
And questions to help them get to the place they want to go; not where you think they should go.
Because what’s right for you is not always right for someone else. They’ll tell you what’s right – with you acting as their guide – but only if you’re interested enough to ask.
It happens some questions are better than others if you want to get to the core of the matter at hand. We’ll get to those in a moment.
There’s a better way to have dynamic, effective conversations than jumping in prematurely with your own opinion.
I’ve always known this, but it turns out there’s more to it than adopting the old adage: “You have two ears and one mouth; use them in that proportion.”
Because it’s how you approach the listening that matters.
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As explored in my recent article, small to mid-sized organizations are uniquely capable of creating a sense of community, even family. This is what people yearn for. And it gives you a secret advantage when it comes to nurturing the relationships essential to developing and sustaining a strong mid-level and major gifts program. You’re never…
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If you’re a small to medium-sized organization or movement, especially if you’re local, you’ve got a secret unfair advantage over your larger compatriots in the social benefit sector. Perhaps you’ve never loed at it this way. Perhaps you fret about not being able to compete with the behemoths. Perhaps you’ve been waiting to hire a…
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Every nonprofit should have a major gifts program.
That’s where the lion’s share of the money is.
It’s a rare organization that has a mailing list large enough to raise a million dollars from a million different $1 donors. But most nonprofits do have major donor prospects hiding in plain sight.
It’s up to you to find them; then move them along a cultivation path that prepares them – and you – to make an ask that results in a win/win values-based exchange.
Let’s review 7 secrets that will guarantee your major gifts program is a success, whatever your size.
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Not as much as you might think.
Yet people tell me all the time how much they’re afraid to ask wealthy people for major gifts. If you share those fears, it’s time for a little “clairification:”
Contrary to what your gut may be telling you, NOT asking is not making would-be donors feel good. Quite the opposite, in fact.
In this article, I’ll let you in on:
>> Three major donor truths. I’ll cover why (1) you must stop short-changing your would-be major donors by not offering them opportunities to be the change they want to see in the world, and (2) you must stop robbing would-be major donors of chances to create social benefit and feel good about themselves.
>> The magical role of a true philanthropy facilitator. I’ll show you how to encourage people — who truly want to give — to act on their passions.
>> The power of emphasizing transformation. The real purpose of monetary donations is not the amount someone can give but the outcome it can create.
>> The connection between philanthropy and self-actualization. You may have heard some folks say philanthropists give out of “enlightened self-interest,” but it’s more than that. Most people give because, on a deep psychological level, it makes them feel they’ve found a reason why they were put on this earth.
>> Six major donor triggers. We’ll explore how you can make donors feel so good they’ll want to say “yes” — and passionately — to your solicitation.
BOTTOM LINE: When you don’t make donors feel good, they’ll go elsewhere.
So, first let’s review what may motivate wealthy people to give.
F. Scott Fitzgerald is famously supposed to have told Ernest Hemingway “the rich are different than you and I.” “Yes, Scott,” Hemingway supposedly retorted. “They have more money.”
It’s good to remember major donors are, first and foremost, just people.
They may have more money, yet many of them actually don’t even feel “wealthy” (just as many so-called seniors don’t feel “old.”) In fact, a survey of 4,000 investors by UBS found 70% of people with investible assets of $1 million or more do NOT consider themselves “wealthy.”
What most donors have in common (no matter their net worth) is
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You have two ears and one mouth. Use them in that proportion.
Ever hear that?
It’s the secret to building authentic, lasting relationships. Full stop.
Whether you’re dating, parenting, teaching, attending a conference or hosting a dinner party, the ability to be fully present – in listening mode – will impact so many things. For good or ill.
Donor loyalty and love are earned, and it begins with YOU listening.
If I had to boil down Penelope Burk’s two decades of groundbreaking research in donor-centered fundraising into one thing donors want, it would be this: SHOW ME YOU KNOW ME. There are lots of ways to do this, but we sometimes miss out on the most obvious one.
Your job – as fundraiser, nonprofit professional and philanthropy coach – is to help your donors see the way to greatness. Think of this as part and parcel of your job as a philanthropy facilitator. In donor coaching mode, you need to listen so you can find “coaching moments” – opportunities to motivate donors to engage with, and act on, their passions in a way that brings them meaning and joy.
“Coaching is a worldview that is driven by the intention to be of service to others.”
— Dianna Andersen, Cyliant
Your job is to guide folks over the river, through the woods, up the mountain and
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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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