The FBook

Archive for the ‘Fundraising’ Category

The Golden Rule of Fundraising

In change management, Fundraising, nonprofit organizations on March 22, 2014 at 1:32 pm

Image

When you don’t see the value in your donor prospects, they don’t see the value in you.

I’ve come to realize that nonprofits have what companies spend millions on– a pool of qualified prospects that represent customers who are interested in their product. Businesses, large and small, have entire teams of people devoted to the “sales” side of their business equation. They have entire departments focused completely on generating and then cultivating those new prospects. They do this because they know how valuable these leads are. They are worth their weight in gold, literally. In fact, many companies actually calculate the value of a lead, figuring how it translates into essential revenue.

And yet, few NPO’s I’ve come to work with have acquired a strategy related to this pool of prospects and how to move them to a “sale”. Do you know the financial value of a lead for your organization?

It doesn’t matter if your NPO is in healthcare, academics, social services or the arts. Every month you generate new major donor prospect leads that lay unnoticed. And these unnoticed leads, that are not being cultivated, are leading to revenue loss for your NPO.

Your lead generating system includes obvious things like events, but consider new clients and volunteers, people who signed up for your newsletters and RSS feeds, and people who inquire about your services and programs. But collecting these is a just a waste of time, if you don’t have a plan that you act upon.

There are four things ways you can capture prospects that are new to your organization. Let’s call them them our “First in the Door” prospects. These people have expressed an interest in you. It might not be as obvious as a lead saying “Hey, I like what you do, put me on your radar screen for a donation.”  It probably is more common that they have attended an event, as a guest or a participant, had been present at a workshop or lecture, read your blog or newsletter, or maybe requested information on your program for a friend. I can think of a recent personal example of this.  In January, my 80 year old father came to live with us and I contacted a not for profit senior housing and assistance group to learn more about their organization. While they sent it right away, no one from the group has since reached out or shared other information on their organization with me, even though we had chatted about the challenges of being a not for profit and their upcoming building campaign! I could be a terrific prospect for a donation, but I get the impression that they don’t value me as one. So, I’ll move focus my attention on another charity.

To help you with those First in the Door prospects, here are four really solid things you should be doing to get them the information they require to build rapport:

1) Email response with material. For every new person that is entered into your database- client, guest, or vendor- you should have an email mechanism thanking them for their involvement with your group (appropriately) and delivering to them literature on your organizations message. Remember stories sell, don’t push them away with statistics, but tell them a story that brings them closer. This material could be in the form of an ebook, a slide deck, or a video.

2) Blog. I can’t say this enough, blogging is a simple, inexpensive way to stay in front of your prospect pool and current donors. 250 words takes under ten minutes to prepare but represents days of retention with your supporters.  You already know they are interested, keep them engaged with a regular flow of blog posts about your work. Again, stories, stories, stories. Include a call to action or a response mechanism for further information. Send your First in the Door prospect this blog, link in a follow up email to the one above. Ask them to sign up for future posts.

3) Lectures and informational sessions.  I recently received a beautifully prepared pamphlet on upcoming arts and music lectures that interested my husband and me.  The series was to be held twice monthly and had some interesting speakers, including local historians speaking on New England music, an old folksinger of local fame, and a representative talking about a local non- profit art museum. This series did not come from an arts organization, but from a senior housing facility, a different one I had called upon.  Brilliant! I’m going to attend some of these programs, and I am excited about learning more about this innovative group that markets themselves so well.  My point is, they kept me engaged by attracting me to a program that they knew I, as their audience, would be interested. They could have easily invited me to a lecture on issues of caring for an aging parent, and I would have attended. But they diversified and offered me a value added opportunity as well.  I like them already. Your informational sessions can and should be about your services, but also about those things your audience likes. Do your research, know your prospects and clients.

4) Social media. It’s not for fundraising. I can’t stress enough how ineffective Facebook and other social media strategies are in actually raising a dollar. However they are invaluable when it comes to performing in the way they were intended—building your tribe of supporters and deepening your relationships.  Instagram pictures of your team, your clients (with permission of course just as you would do for your newsletter), and your daily activities. Instagram is informal, no need to save it for big activities. Tweet out information on upcoming activities, current successes, and research that relates to your work. Create Pinterest boards relevant to your work. Talk daily with your prospect pool on Facebook. Create a discussion group on LinkedIn. Invite your First in the Door prospects to all of this.

Right about now you’re saying “Oy!!  I don’t have time for all of this!!”  You won’t have any time, at all, if you don’t do this, because these people whom you are currently ignoring will not be your donors in the coming months. And without donors,  you’ll have no programs to offer. Ignoring your pipeline of prospects is putting your organization on ice, ignoring your financial future, and telling those people who have already said they are interested in you, that you don’t value them. They will leave, you can count on it.

Take a look at your organization today, create a strategy for cultivating those First in the Door prospects and decide who will be responsible for carrying out this prospect generating process. Many companies (and nonprofits) envy you for the pool you are building, show them you value your prospects as much as they do.

It’s Not What You Tell Your Donors, It’s How You Say It

In change management, consulting, Fundraising, nonprofit organizations on February 5, 2014 at 10:52 pm

Image.

I’ve seen my share of “donor death” due to the academic delivery of every specific detail relating to an organization’s mission.  It’s not pretty. First the eyes glaze over and the face slackens, the brow slightly furrows, then the fingers fret with each other as the donor begins to avert his eyes. This is quickly followed by phone checking, paper rustling, and long loving glances at wristwatches.  When this happens, there is no question that the end is near.

When a donor goes into this death spiral, the organization must work harder to keep the donor engaged and interested. Hard work requires more resources and additional resources are expensive. It is far more effective for organizations to understand the dynamics of donor engagement before the meeting.  Spending a minimum of upfront time, determining how to tell your organization’s story in an effective and engaging manner rather than reporting your organization’s destination will pay dividends.

Nonprofits as an industry, we are in love with our science. We love the academics and inner workings of our profession. It’s our passion for the science of what we do that drives us to perform. But frankly, for our donors, it’s the pedestrian, everyday results they can relate to that fires their engines.  I am reminded of a 1970s advertisement produced by Crispin and Porter, that illustrates this point (see above). Telling someone you need to get to a destination is uninteresting and even boring when you compare it to sharing with someone your need to connect with humanity, your family, your loved ones. Same message, but a very different emotion attached to that message.

Check your language. Review your letters, materials, your website. Are you alienating and potentially killing off your donors with your technical speak? Are you telling them where you need to be, rather than sharing with them what or who you want to become. They don’t need the details or the destination. They need the information that will spark their emotions, encourage engagement, and keep them excited about your cause.

The Secret of Fundraising Revealed

In Discussables, Fundraising, nonprofit organizations on January 27, 2014 at 10:49 pm

telling-a-secret

The one question I receive consistently in working with nonprofits is this “Sondra, what’s the secret to fundraising?” While my ego would like to answer with some profound, deep, complex revelation, it’s really much more simple than that. The secret to fundraising is in how we treat others. It’s about respect.

Turn your clock back to 1950, a time when respect, courtesy, grammar, and poise were paramount. Sensitivity, decorum, and grace were at one point held in high regard. It was a reflection of your character to be considerate, conscientious, forthright, and restrained.

Now take that picture, and apply it to your philanthropy.  How do you speak with you donors? With your board?  With your team? Do you hold true to your promises, your word? Ask yourself, are you showing true gratitude for the gifts your receive? How have you shown your gratitude? Have you called the company right after receiving the gift, do you ring them every month to tell them how your work is proceeding, are you happy to make time to visit them periodically, just because they went through the trouble and consideration of supporting you?  And it doesn’t need to be a company, how about a person? Think about the last gift you received. How did you respond? Did you open the envelope and send it to finance, to work out the details of posting and sending your form thank you letter? Our ancestors would have done more than that. They would have valued the generosity of that gift, put on their coat and hat (yes, they wore hats back then) and visited that donor. Even if the donor had no time for them, the action meant everything- the donor knew his gift was not only received but tremendously valued.

One of the barriers created by our technological age, is the deterioration of face time. The lethal combination of too much to do, too little time and the convenience of electronic interactions, has made us shallow and self absorbed. We focus on getting through the actions, ticking off the to do’s, but missing the point of the light of day. In our field, that light of day is spent 99% of the time in conversation with, appreciating, and showing our enormous respect for our donors.

Phone that donor. Respond to that email for your sponsor. Better yet, initiate that interaction before they have to – find a way to make them the center of your day, every day, and you will have discovered the secret of fundraising.

What is new is not always relevant. What is relevant is not always new.

In Discussables, Fundraising, Innovation, Marketing, Random, Research, Retail ideas on December 6, 2013 at 2:10 pm

crowdfunding_special-300x182

Crowd Funding PBS Special

PBS has been blogging about crowdfunding – the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet   – and their latest post engages nonprofits in thinking about the significant opportunity for financial success in crowdfunding.

From PBS’s post:

“The need for alternative fundraising methods clearly varies a lot across organizations. But even comfortable non-profits accept that crowdfunding has the potential to deliver a deep engagement between fundraisers and backers. And, as emergent civic crowdfunding models suggest, it has the potential to produce new alliances”

The post goes on to highlight success stories in the the crowdfunding sphere:

“In April, the Chicago Parks Foundation raised $62,113 for the expansion of the city’s Windy City Hoops basketball social program on IndieGoGo.”

” The Long Now Foundation is using this model for its Salon campaign, which has raised just over half of its $495,000 target. “

The post ends with this note of validation for many nonprofit’s marketing savvy and the opportunity to leverage that expertise for crowdfunding success. “Many non-profits are established experts in these areas. Many of them have stronger and more-established brands than even the best-known crowdfunding platforms. The quality and scale of crowdfunding campaigns would undoubtedly increase if they decided to apply their expertise to the field.”

While I appreciate what these types of articles do for innovative thinking, when they are sent out into the npo-sphere such as this, with no context to the implementation or integration of such a strategy into a broad range of tactics, it sends most charities desperate for money on a wild – and often disappointing- goose chase for their tens of thousands of dollars from ‘the web’. At best this is a distraction and a waste of resources which could go toward raising real money. At worst, it could be the straw that crumbles an already ailing organization.

In reality, what is new is not always relevant. What is relevant is not always new. Basing revenue development on scholarly data and best practices is essential to helping our nonprofits prosper.

WHAT DO YOU THINK?

One Third of Your Revenue Depends on the Next Six Weeks

In Fundraising on November 22, 2013 at 6:53 pm

holiday party mad men

Our friends at Network for Good have prepared this easy to digest guide to Year End Fundraising Essentials 2013 filled with things you can do right now to ensure you get your 30 percent.

If you need some assistance with a plan or executing your strategy, we can help.  A third of your years revenue could depend on the next 6 weeks.

Our programs and services offer professional guidance for all requirements and budgets. Wherever you find your challenges, we have the experience and talent to bring you to a more profitable outcome.

Contact us for a no obligation consultation about your organization

Download PDF of
Year End Fundraising Essentials 2013