FAQs in magnifying glass

How to Supercharge Your Nonprofit Major Gift Fundraising Strategy: 10 FAQs

FAQs in magnifying glassIf I had to tell you what you need to do to succeed with major gift fundraising in one short paragraph it would be this:

Identify prospects. Qualify them so you know they want to build a deeper relationship with you. Cultivate them. Visit with them. Listen to them. Ask them for something specific that resonates with their passions. Steward their gift. Communicate the impact of their gift, more than once, to cement the relationship and make them feel like the hero they are.

It’s definitely not rocket science. It’s just not something most of us are taught.  Ultimately, success depends on doing the right things the right way. Once you know what is required, success comes from good old hard work. Satisfying and rewarding work. It’s a type of work anyone can learn to do. [If you want to learn, please sign up for the upcoming Certification Course for Major Gift Fundraisers that begins January 25th. It may be the most important investment you make all year. Just one major gift will more than cover the cost].

Over my 39 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 some of my best words of wisdom, and also answer some of the questions folks tend to ask me frequently.

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!

Nonprofit Major Gift Fundraising Strategy: 10 FAQs

1. What is the board’s role in major gift fundraising?

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roaring lion

7 Things Nonprofit Major Gifts Programs Need to Succeed

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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Are you reading your major donors right?

Are You Reading Your Major Donors Correctly?

Are you reading your major donors right?

What are you doing to get inside your donor’s head and ring their particular bells?

 

“The more that you know, the less they’ll say ‘No!’“

Such is the advice given by Jay Love, Founder of Bloomerang and a seasoned board member and major donor, some years ago at an online conference where we both presented major gifts master classes. His was on the topic of major gifts development from the donor’s perspective.

Do you think about your donor’s perspective before you ask for a major gift?

Here’s what I learned from Jay:

The more you know:

  • what floats your donor’s boat,,,
  • what other things compete for your donor’s attention (not just causes, but also career and family)…
  • how your donor prefers to communicate…
  • how your donor prefers to be wooed…
  • how your donor prefers to be recognized…

… the more likely you’ll get a “Yes.”

This advice is SO important I want to dig deeper into ways you can get inside your donor’s head and build the type of relationship that will be a win/win. When your donor gets what they want and need, you get what you want and need!

If you can’t show your major donor prospect you really know them, how can they trust you’ll be a good steward of their passionate philanthropic investment?

We all want to be known before we enter into a major engagement.

Which brings us to the crux of successful major donor development. Not surprisingly, it begins and ends with the same thing.

Can you guess what that might be?

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Street intersection signs

At the Intersection of Major and Planned Giving: Moving to Asset-Based Philanthropy

Most organizations, large or small, public or private, local or national, arrive at the intersection where major gifts and planned gifts cross, come into question, or even merge. Which road should they take? Should the major gift officer learn planned giving? Should the planned giving officer become a major gift officer? What business model will…

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Skyrocketing

10 Strategies to Skyrocket Major Gift Fundraising

Skyrocketing“Begin at the beginning and go on till you come to the end; then stop.” So wrote Lewis Carroll in Alice in Wonderland.

It’s the same with major donor fundraising, except you don’t ever really stop.  You just start up again. You do follow a prescribed path, however.  And here’s what it looks like:

  1. Before
  2. Ground Floor
  3. Explore
  4. Back Door
  5. Adore
  6. Mentor
  7. Ask For
  8. Implore
  9. Rapport
  10. Report

If you do this correctly, it becomes a transformational process for the donor. They want to stay connected and engaged and invested.  Which is why you don’t stop.  You follow up with “Some More.”

But first…

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Major Donor Conversations: Pitch vs. Promise

Claiire Axelrad heart signToday I want to talk about the heart of successful major gift fundraising.

It’s about reframing what you may think of as a “pitch” into what your donor would like to consider a “promise.”

The pitch is one way: You deliver a monologue about everything you know about your organization, how great it is, how pressing the need is, how you know this is what the donor cares about (maybe based on a computer print-out of the donor’s past history with your cause)… and then drop this bomb into your donor’s lap – often leaving them feeling like they didn’t get a chance to get a word in edgewise and/or they’ll be a ‘bad’ person if they don’t respond as you suggest.

The promise is two-way: Your donor promises to make a gift to accomplish something near and dear to their heart; you promise to put that gift to work effectively and report back to the donor on what their philanthropy accomplished.

The difference between these approaches is the difference between success and failure, especially over time.

For donors to give at their most passionate level, and to stick with you over time, they have to see and feel the promise. They have to believe and trust in you. They have to feel good about their giving.

If they give because they felt coerced or guilty by your perceived sales pitch, they aren’t likely to want to do this again. When you make giving transactional, you fail to build a relationship. Ultimately, these donors will evaporate.

Which brings us to the heart of effective major donor fundraising:

THE CONVERSATION

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'Wearing is Caring' Street art

Fool-Proof Nonprofit Crisis Fundraising Communications Templates for Every Audience

'Wearing is Caring' Street artDuring a crisis is no time to be passive. Build a list of audiences, prioritize contacts among those lists, and develop a step-by-step written PLAN to reach out. With updates, engagement opportunities, little gifts of content folks can use, and opportunities to contribute and make a demonstrable difference.

Sharing is caring too.  Do you have a plan in place to regularly share what you’re up to, and offer opportunities for donors to engage?  Are you communicating with donors as if they’re a part of your family or favorite group of friends? If not so much, what are you waiting for?

Establish templates with talking points in advance of your communications; then let the reaching out begin. First determine your purpose.

  • Do you want to say thank you?
  • Do you want to simply check in to see how your donor is doing, and whether they have any questions about your organization’s status and work right now?
  • Do you want to ask them to volunteer their time?
  • Do you want to ask for a philanthropic gift?
  • Do you want them to complete a survey?

Figure this out first, because the more you know where you’re going the more likely you are to get there! If you’re light on staff right now, ask your volunteers and influencers for help.

These communication templates can be used for phone (or other online) conversations and emails. Got that? Conversations! Merriam Webster describes a conversation as “oral exchange of sentiments, observations, opinions, or ideas.” In other words, you want to prompt two-way participation on some level. This is not about you delivering a monologue or formal dissertation. Think of your communication as you raising an issue for discussion. You want to pique your donor’s interest and ask open-ended questions that invite their engagement.

Start with your top priority donors who have the highest likelihood of making an additional gift to get you through this crisis. I suggest

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Sign StaySafeBeKind

Nonprofit Crisis Response Tip-a-Day-DO-Dah!

Sign StaySafeBeKindResist the temptation to throw your hands up in the air because you’re hearing people are giving less now. While it may be true(ish), it doesn’t apply to everyone. And it doesn’t need to apply to your nonprofit.

Also, the fact folks aren’t giving may not be for the reasons you assume. In fact, one of the biggest reasons this is true is because nonprofits are asking less.

If you don’t ask, you don’t get.

Recent research shows:

  • Giving is increasingly seen as good – as is fundraising. Even donors who have been hit economically are remaining remarkably generous.
  • Charities with little relevance to tackling Coronavirus will still receive support from donors that value them – as long as they ask for help (otherwise they’ll be perceived as not in need of funds).

It all boils down to a need to put together both short and long-term plans to connect meaningfully with your supporters right now, using the correct approach and tone. Towards that end, I’ve put together five ‘to-do’s – one for each day of the work week.  I suggest you put aside a little bit of time this coming week to consider how you might actualize each of these suggestions, if not in whole at least in part.

Ready for your five timely tips?

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