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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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.