Here comes my occasional “Do’s vs. Don’ts” feature, where I with you something arriving in my box that seems a good ‘teaching opportunity.’ Today we’re going to review an on renewal appeal strategy. It arrived as an e. There’s (1) a subject , (2) a preview pane, (3) the e itself, and (4) what…
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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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BOO!
Halloween is creeping up on us, so I’ve got some really scary stuff for you!
Don’t get too spooked. There are also a few treats.
In fact, you’ll get eight delicious goodies — in the form of “to-do’s.”
But first… the bad news.
No bones about it, you’re frightening folks away if you’re committing any of these 8 boo-boo’s!
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If you’re coming at fundraising from the perspective of “no pain, no gain,” I’d like to suggest you reframe your approach.
Especially when it comes to asking individuals, one-to-one, for passionate gifts.
As long as you hate it, you’re never going to be effective.
In fact, if anyone in your organization feels this way, you’re shooting yourself in the foot.
Why?
Because… (I really hate to break this to you)…
Donors can tell.
When donors can sense you’d rather be doing anything else than asking them for a gift, guess what happens? They follow your lead! In other words, they feel like they’d rather be doing anything else than making a gift.
Uh, oh. How can you change this equation?
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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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If you want gifts, you must give them Giving is not always its own reward. Sometimes you have to help it along if you want to truly show donors they matter. Some years ago I happened upon an article by Scott Monty, offering some Father’s Day advice. It included a brilliant idea for a gift…
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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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Use of Donor Advised Funds (DAFs) as a way for individuals to make charitable contributions continues to rise and grants from DAFs are becoming a growing source of income for charities of all shapes and sizes. An ever-broader group of donors are embracing them to approach philanthropy in the thoughtful, strategic way once reserved only…
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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 75% 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.
If you want to learn, please sign up for an upcoming cohort of the Certification Course for Major Gift Fundraisers. [NOTE: If you sign up within one month before it begins, you’ll get a nice discount.] It may be the most important investment you make all year. Just one major gift will more than cover the cost].
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 words of wisdom, and also
(2) answers to some of the questions folks frequently ask me .
I hope these tips 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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