Whether you are running capital campaign or a nonprofit organization, one thing is obvious in 2011: the donation stream has slowed. Due largely to the soft economy, your goals now seem harder to reach. People simply have less to donate and are busier than ever. How can you ensure the funding of your cause in these difficult times? Simple — be more effective in communicating with your donors! Cord Cooper at Investors.com wrote a great article that I’d like to share that will help you through this journey at such a tough time:
• Map it. Scope the key people in donor firms, says “The End of Fundraising” author Jason Saul. “Once you’ve identified the decision makers, determine their priorities and personal agenda,” he said. “What are they looking to accomplish within the organization or within their career?”
Some key people have two agendas — the firm’s reputation and their own. Giving to your nonprofit could improve both. Find out how. “Locate your (donor’s) points of greatest need or desire and connect those to your work,” he said.
• Leap. What hurdles do you face in getting a donation? “More common obstacles include timing, budgets, personalities involved and political considerations,” he said.
In addition are common excuses like these, Saul said: “I’ve never heard of your organization.” “There are lots of people already doing that kind of work.” “That doesn’t fit our funding guidelines.”
Knowing the roadblocks can help you steer around them. Counter objections before they’re raised.
• Delve. If you face unexpected hurdles during interviews, ask the donor “what’s missing or not resonating,” he said. If the answers don’t lead to a connection, note the obstacles and schedule another meeting. Then come armed with convincing arguments.
• Point. If the donor isn’t familiar with your firm, “find a way to lower the risk” of giving, Saul said. Outlining past gifts to similar nonprofits “will help relieve that concern.” The key: Stress why the donor should give to you.
• Build it. When seeking donations, present a “case for support,” which is “a philanthropic justification for funding” a cause, Saul noted. In your case for support, state your vision and mission, history, budget and the problem you’re trying to solve, says the Association of Fundraising Professionals.
Also include your track record (in solving problems or reaching goals) and the benefits to the donor. Make the report short and to the point. Limit it to 10 PowerPoint slides or three to five pages.
• Segment. Grouping donors by giving level helps you eye big spenders. It can also help move midscale givers to the top tier. You know what you’re dealing with and can target more effectively, says attorney Ilona Bray, author of “Effective Fundraising for Nonprofits.”
• Value ‘em. Every dollar counts. A large group of small givers can easily outpace larger donors, notes Burke Keegan, author of “Fundraising for Nonprofits.” Track regular donors who give smaller amounts.
