Fundraising is Just a Common-Sense Act

Ever notice that people who are fearless about virtually everything else they need to face in life are terrified of asking for a gift for a favorite cause?

It doesn’t need to be that way. Most of the fear stems from not knowing what’s involved in fundraising. Too often asking for a gift is associated with super-human powers to persuade and convince others to do something they’re reluctant to do. That assumption is way off the mark.

Professionals and volunteers alike can and should take comfort in the truth that most of fundraising is based on common sense. There is substantive research to guide us and most of the best practices are hardly revelations.

Here are seven lessons from the common sense school of fundraising:

Lesson No. 1: If you want someone to love your non-profit or organization, show that you love them first. That starts with learning everything you can about them. What’s important to them? Which causes have they committed time and money to? The fundraising process typically starts with a “discovery visit” during which we learn about donor motivations. From there, we can develop a strategy to link their values and beliefs to the mission of the organization we’re going to ask them to support.

Lesson No. 2: The more quality contact we have with donor prospects, the more money we’re going to raise. This means intentional interactions, not randomly bumping into people at a banquet or other large events. In fundraising, the essential ingredient for success is cultivation — forging a personal and emotional bond with the donor prospect. Keep in mind that getting people’s time, especially those who give larger gifts, isn’t easy and requires tact and plenty of persistence.

Lesson No. 3: Our chances of getting the gift go way up when we ask. It’s astounding how much the solicitation is put off waiting for the so-called perfect moment and circumstances. There is never a perfect time. After a relationship has been developed and the prospect has been satisfactorily introduced to our organization and project, don’t delay. Countless gifts are forfeited because organizations waited too long and death, divorce, financial setbacks, relocation and other factors closed the door of opportunity.

Lesson No. 4: The most successful solicitations are made face-to-face, especially so for larger gifts. Fundraising expert Jerold Panas likes the analogy that you don’t get milk from a cow by sending it a letter. Foundation Center research on this topic is compelling:

• When asked face-to-face, 70 percent will give at a rate of 50 percent the amount requested.
• When asked during a phone call, 25 percent will give at a rate of 25 percent the amount requested.
• When asked by mail, about 2 percent will give gifts of $10 to $25.

Lesson No. 5: Ask for a specific amount. We live in a world of price tags. Philanthropy is no different.

Make an educated guess on the amount based on what we know about the prospect’s giving capacity, interest in our cause, and gifts to others. Reference points are also constructive such as the gifts of peers.

Lesson No. 6: It starts with a phone call. Whether it’s for a $100 or a $1 million gift, the crucial first step is for a staff or board member picking up the phone and scheduling an initial appointment.

Admittedly, a little trepidation about making that ice-breaking phone call is natural. Try this idea: Keep a favorite photo close-by of those who benefit from your nonprofit to strengthen your resolve and remind you of the stakes involved.

Lesson No. 7: No one ever died or was injured from being turned down. Not everyone is going to give, or give at the amount requested. There’s no shame in being turned down. It’s not personal. We’re asking them to advance the missions of our organizations. By telling our story and making the ask, we’ve done our job.

Lesson No. 8: Resources are available to be tapped. Even in a volatile economy, American philanthropy has remained a vast $300 billion a year enterprise. Others are asking and getting gifts every day. You can too.

Lesson No. 9: Donors aren’t choosing between the good and the bad, but the good and the good. The key to making your cause stand out is by forging a personal and emotional bond with the donor. Connect with both the head and heart. Share facts and figures, and compelling stories as well.

Lesson No. 10: Emphasize the first three letters in fundraising — F-U-N. If you don’t enjoy asking for the gift, it’s very likely the donor won’t enjoy being asked. Remember by asking for their help, you’re enabling the donor to become a better person and improve the world.

Original Source: http://www.bizjournals.com/sanantonio/print-edition/2013/01/25/fundraising-is-just-a-common-sense-act.html?page=all