We never really stop talking about this, do we? Well, here is your special Halloween edition of tips on where to find those generous major donors, how to get them, and how to keep them. It’s a process that will BOOst your nonprofit fundraising results when done well.
Where are they?
Look inside your house first. You know it all comes down to relationships, so focus there.
1. Look in your database (and if you don’t have a fancy CRM, don’t panic; pull up your excel sheets, and other files and review the information) and analyze what you see. Who are the most consistent donors, the larger donors, the sponsors of events, regular volunteers, the alumni who have stayed connected, etc. What patterns can you find that would indicate an interest or capacity for giving a major gift?
2. Ask your current major donors to introduce you to their friends who may want to know more about the organization. Notice, I didn’t say friends who want to donate. You aren’t there yet; you are just identifying prospects so don’t jump the gun. It’s not SCARY; these folks are your investors and will likely be happy to help.
3. Sit with your most influential board members, volunteers, and colleagues and ask them the same question. If you get stuck on knowing who to ask for help with this, then…..
4. Use technology to close the gaps. When you aren’t sure which of the people you know may have influential networks, look at their connections on LinkedIn, check out their Facebook friends and Twitter followers. If you feel they know some folks who qualify as major gift prospects, ask what they know about them, and ask for an introduction, if it feels right.
How do we earn the right to invite them to invest?
Cultivation is the key to success so plan to spend time here, focus on communication, and do it right.
1. Listen. Get to know them as individuals. While the masters at cultivation will have an outline of activities and moves for each prospect, I just want you to spend time with these prospects and listen. What interests them the most about the organization? What are their hobbies and interest unrelated to the organization? Are they likely to attend social gatherings? Just have normal conversations like you’re talking to your neighbor. Gauge their level of interest. The more genuine interest you show, the stronger the foundation you are building.
2. Consistently deliver information that will be of interest to them – mostly about the organization, but also about other things they care about.
* Send them the newsletter
* Invite them for a tour with the ED and a board member
* Ask for their advice on the next exciting project
* Share accomplishments
* Send them articles about their favorite sports team
* Invite them to a non-ask event hosted at a board member’s home
* Share with them several ways to get more involved (donating is always a choice, but not the first one)
* Ask them to write an article for the newsletter in their expertise area
They Invested!! How do we keep them?
Your fun part of the work has just begun! As an investor, they have the right to know what the return on that investment is, and more.
1. Impact reports are great, but only if they have photos or video of real beneficiaries of your services. Charts, data and numbers matter, but spruce them up. And if you aren’t blessed with robust technology, just take some photos with your phone and send a meaningful email with a story that tells of real impact.
2. Invite your major donors to VIP receptions, or behind the scenes tours, or a fancy recognition luncheon where they can rub elbows with other major donors. Feature them in your newsletter or on your website. They are a part of your inner circle and you can’t deliver on your mission without them. So express your appreciation generously. (by the way, find a donor to underwrite the cost and give them plenty of visibility)
3. Ask them to get more involved – volunteer on a task force, serve on the board, attend critical meetings with elected officials or the media, make introductions, host a salon, etc. Most donors won’t bite, but some will and there is no harm is asking.
Every organization is different and you will need to determine how you can best leverage the relationships of those closest to you. Regardless of how you define a major gift, or how a person gets introduced to your organization, it is easier to retain a major donor than to constantly have to replace them. The goal is to build stronger relationships that result in repeat giving, increased giving and further involvement as advocates for the organization. Be authentic and intentional, and you will receive some fabulous TREATS!
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