I have to be honest. In my experience as a fundraiser, cultivating major donors was my least favorite part of the job.<\/p>\n
Am I asking too much? Too little? Is it the right time? Should I make the ask, or should our CEO or another board member come along for the meeting?<\/em><\/p>\n I questioned myself every step of the way.<\/p>\n But what I learned through years of being, for lack of a better word, uncomfortable, was that I was going about the process all wrong. That unease I felt was because our organization was stuck in the \u201cold ways\u201d of recruitment. We weren\u2019t factoring in how connected we all are in today\u2019s world.<\/p>\n At the time, I didn\u2019t consider that my major donor prospects already had the information they needed to take the metaphorical leap into major donor status. They knew about the organization. They connected with us through email and social media. Many of them knew people who received our services.<\/p>\n What they needed to seal the deal was a hook\u2014a concrete reason to give more.<\/p>\n Because our economy is so connected<\/a>, we need to go about major donor cultivation differently than in years past. Here are four best practices that you can use to increase the effectiveness of your major donor recruitment efforts.<\/p>\n The first step in major donor cultivation is understanding who is the right fit for the role, and who isn\u2019t.<\/p>\n Let\u2019s say you\u2019re on a major donor cultivation call, and you feel the need to start the conversation from ground zero by explaining your organization\u2019s mission and impact. That\u2019s a red flag indicating that this person isn\u2019t necessarily major donor material\u2014yet.<\/p>\n What qualifies a good major donor<\/a>? For starters, it\u2019s someone who is already giving to you. This shows that they believe in what you\u2019re doing and think it\u2019s worth their money. Another good major donor qualification is that they\u2019re willing to sit down and discuss going above and beyond their current gift level. Again, if they\u2019re giving you their time and attention, you mean something to them.<\/p>\n It\u2019s good to remember that most prospects know that when you call for a meeting, that it\u2019s likely about money. If it\u2019s on your radar, it may be on theirs as well.<\/p>\n Other ways to qualify a major donor include:<\/p>\n Whatever you do, don\u2019t assume that someone who gives to other organizations or who has the financial capacity is automatically going to throw you $10,000. Major donor cultivation requires a relationship built over time.<\/p>\n It\u2019s virtually impossible to create a stellar major giving program without the buy-in of key players, including:<\/p>\n If your major donor prospects notice a disconnect between what you\u2019re saying as a development professional, and what your organization is doing, then you\u2019re back at square one.<\/p>\n To increase buy-in from your staff, board, and nonprofit leadership, explain your plan. Map out how you plan to reach out to major donor prospects, how you expect to qualify individuals who may be good candidates\u00a0and your end goal. From there, suggest ways they can help. For example, you can set a standard for referrals and information sharing with the planned giving team.<\/p>\n Then, invite them to participate in the process, such as making a call to a prospect. Everyone on your organization\u2019s team plays a large role, so ask them to share their perspective with the prospective major donor.<\/p>\n At the end of the day, fundraising is everyone\u2019s responsibility. You may be doing to legwork, but it\u2019s your staff, board, and leadership team that fill in the missing pieces.<\/p>\n One great way to bring a mid-level donor to major donor status is to know what makes them tick and where their passions lie<\/a>. The best way to do this is through conversations, either over the phone or in-person, but you can also use targeted surveys and email if your donor prefers these communication methods.<\/p>\n When you\u2019re prospecting major donors, match their philanthropic interests with a program or impact you provide.<\/p>\n Consider an organization that assists survivors of domestic and sexual violence and assault. Let\u2019s say they have a mid-level donor with the capacity for major giving. This donor gives monthly gifts of $50, and the money goes into the general fund. But they learn through conversations that this donor is really passionate about children. The organization could create a specific initiative that this donor could fund, such as funding an expanded playroom for the Safe House or purchasing school supplies for these youngest survivors.<\/p>\n Learn about the passions of your mid-level donors, and create a custom product for them to stand behind.<\/p>\n Prospecting takes a lot of time, which is why every second counts. To stay organized and on-task, send prospects on a set path, aka \u201cmoves management.\u201d<\/p>\n To begin, create a major donor prospect list, keep it updated, and do a thorough clean up and reevaluation at least twice a year. Don\u2019t just reference this document once in a while; live and breathe it.<\/p>\n Reference your list as you network with business leaders, mid-level donors, and long-time volunteers. As you note people who may be good prospects, put their names on the list. Then, mark off the boxes as you move them through each level of engagement.<\/p>\n Your major donor cultivation path<\/a> may look something like this:<\/p>\n 1: Qualify Donor<\/strong>– Ensure they meet prospect criteria<\/p>\n 2: Research Donor Interests<\/strong>– Research past and current philanthropic affinities, check donor notes in your CRM for any suggestions on passions.<\/p>\n 3: Direct Mail Outreach<\/strong>– Acknowledge your donor\u2019s history with your organization, and tell them you\u2019ll be following up to schedule a meeting<\/p>\n 4: Phone Call\/Email-<\/strong> Schedule the meeting and confirm the donor\u2019s interests<\/p>\n 5: Send Targeted Marketing Materials- <\/strong>Use the donor\u2019s preferred communication methods to send heartwarming stories of impact and any other inspirational donor materials.<\/p>\n 6: In-Person Meeting- <\/strong>Meet at the donor\u2019s preferred time and location, such as over coffee, at your office, or in their home. Talk about key clients and community impact.<\/p>\n 7: Ask-<\/strong>Present major donor with an offer to support a specific program or initiative, either during step 6 or at a later date.<\/p>\n 8: Thank-\u00a0<\/strong>Thank your new major donor<\/a>.<\/p>\n 9: Follow-up Meeting- <\/strong>A month or so after your major donor gives, follow up on their experience. Ask if there are any other ways they\u2019d like to get involved and give them the name and contact information of a point person in your organization who they can reach.<\/p>\n When it comes to major donor cultivation, every touchpoint matters. Be smart and deliberate, inquisitive and bold. After you\u2019ve put in the effort and learned all you can about what your prospect may want to support, shoot for the stars.<\/p>\n If you liked this post, check out the following CauseVox resources:<\/p>\n I have to be honest. In my experience as a fundraiser, cultivating major donors was my least favorite part of the job. Am I asking too much? Too little? Is it the right time? Should I make the ask, or should our CEO or another board member come along for the meeting? I questioned myself […]<\/p>\n","protected":false},"author":5,"featured_media":51437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[34],"tags":[],"class_list":["post-11041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-article"],"acf":[],"featured_image_src":"https:\/\/www.causevox.com\/wp-content\/uploads\/2024\/05\/rawpixel-674079-unsplash-600x400.jpg","featured_image_src_square":"https:\/\/www.causevox.com\/wp-content\/uploads\/2024\/05\/rawpixel-674079-unsplash-600x600.jpg","author_info":{"display_name":"Candace Cody","author_link":"https:\/\/www.causevox.com\/author\/candace\/"},"_links":{"self":[{"href":"https:\/\/www.causevox.com\/wp-json\/wp\/v2\/posts\/11041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.causevox.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.causevox.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.causevox.com\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.causevox.com\/wp-json\/wp\/v2\/comments?post=11041"}],"version-history":[{"count":0,"href":"https:\/\/www.causevox.com\/wp-json\/wp\/v2\/posts\/11041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.causevox.com\/wp-json\/wp\/v2\/media\/51437"}],"wp:attachment":[{"href":"https:\/\/www.causevox.com\/wp-json\/wp\/v2\/media?parent=11041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.causevox.com\/wp-json\/wp\/v2\/categories?post=11041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.causevox.com\/wp-json\/wp\/v2\/tags?post=11041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}1. Ask: Are They The Right Fit?<\/h2>\n
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2. Create Organization-Wide Buy-In<\/h2>\n
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3. Learn Their Philanthropic Passions<\/h2>\n
4. Follow A Path<\/h2>\n
Final Tips<\/h2>\n
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