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Hey Everyone,
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Guy
The Power of The Peer
He who persuades and compels others to give shall have a reward greater than that of the giver himself.
(Isaiah 32:17)
Bible references aside, there is nothing more powerful than one peer soliciting another peer in fundraising.
I participated in an ask the other day, with a well known community philanthropist. Participating with me, was a key volunteer associated with my campaign … a well respected and valued member of the community. A major donor. A captain of industry. But more importantly, he was a ‘peer’ of the prospective donors we were visiting.
The magic of having a peer with me was beneficial to the ask: (1) it allowed my volunteer to share his story and reasons for why he supports the organization; (2) it provided an opportunity for him to brag about my organization; and (3) most importantly, it presented him a chance to invite the prospective donor to ‘join him’ in supporting my organization.
Using a peer to assist me in making the ask was a very powerful tool, and increased my chances for a successful “yes”. It also gave my donor volunteer a chance to articulate and verbalize to another person, the reasons why he believes in my cause … a great way to reinforce the reason he supported my organization in the first place, and a reminder to him about why my case deserves continued support.
I have found that recruiting volunteers as peer solicitors requires careful attention however. Once a volunteer has committed to work with your organization, it’s imperative that you fully educate him/her about your organization/institution and about the fundraising projects you are asking them to help you with.
After you have prepared the volunteer for service, it is time for you to visit with the volunteer about the various ways they can help. The volunteer can play an invaluable role in introducing you to prospective donors or they can further a relationship that you already have with someone. This can be done through a small event that they might host, securing and accompanying you on an appointment to see the prospective donor, or by writing a letter of introduction for you. Volunteer peers can open doors that you could never gain access to.
Volunteer peers can play a significant role in soliciting major gifts. If the volunteer is willing to participate in the solicitation, their role should be fully discussed. A briefing memorandum with a script should be given to each person who will be present at the solicitation call, and a rehearsal ahead of time is often very helpful. Don’t minimize attention to this detail. This is the time that is most helpful for the volunteer peer to be able to say that they have chosen to give to the campaign. There is nothing like peer-to-peer solicitation!
So, was I successful .. well, yes I was. We secured a major gift, and I like to think that the lion’s share of the credit goes to my volunteer peer and the magic that occurred in the peer-to-peer dialogue.
It’s About the Money, stupid!
Some people don’t like me stating the obvious …. “it’s about the money, stupid” … but the sooner the reality of what it is to be a fundraising professional sinks in, the better.
At the end of the day, the most important criteria being used to measure the effectiveness of a fundraising professional is her/his ability to raise money. Period.
It’s not the number and quality of relationships nurtured. It’s not the quality of the materials being produced for communicating with our prospective donors. It’s not the ability to ‘schmooze’ and ‘work a room. It’s the amount of money raised for the organization.
Keeping focused on the key objective of raising money, and not letting our attention wander, allows us to develop strength in the areas of ‘how’ to reach our goal … like the best ways to nurture relationships; the best way to design quality support materials; and the best way to work a room. All important skills to master … but nothing, nothing, NOTHING is more important that the ultimate goal of raising money.
If you are ever unsure of the primacy of this objective, and need reminding … just ask your Board and/or your CEO about their point of view. They’ll tell it to you straight. The equation is really quite simple … your organization’s ability to delivery services is DIRECTLY CORRELATED to your organization’s ability to raise money. The more money you raise, the more services you can deliver and the better you are able to service your organization’s mission.
Be a good fundraising professional. Hone your best practice. Master the necessary skills. Use ethical decision making at all times. But never forget, the most important thing at the end of the day, is how much money you have raised for your organization.
Donor-Centered Relationships … so what’s the fuss?
It’s hard to argue with the basic premise that donor-centered relationships are the key to raising major gifts for our organizations. Those involved in major gift fundraising know this to be true, and is a cornerstone for any effective major gift program.
In fact, it could be said that those who practice major gift fundraising without appreciating the importance of donor-centered relationships are poor stewards of philanthropy.
I agree.
But I would also suggest that the reverse is even more true. Those who talk about donor-centered relationships without mastering the techniques of major gift fundraising (including effective ‘Moves Management’ and effective solicitation techniques, do a disservice to themselves as fundraising professionals, their organizations, and philanthropy overall.
Strong Economic Headwinds
There’s no question … the world’s having a challenging time economically. These challenges affect not only day-to-day living, but also our ability as fundraising professionals to present opportunities, and raise money.
I view the challenging times as a strong headwind … forcefully pushing against us. It slows us down, and makes us work harder. But I caution against slowing down your fundraising efforts. Now is NOT the time to be pulling back on the throttle … what we need is more throttle, and more lift.
I’m not a wide-eyed optimist I do recognize that it is a difficult marketplace to be raising money, but I do know that there is no better time to raise money, than when you need it. So focus on honing your case-for-support and keeping current supporters close.
Mallabone’s Fundraising Law
I believe it’s a truism in life, that the people give their love, their time, and most importantly, their money … to things in their life that they are closest to.
This is a true throughout the world, in every culture; in every race; in every nationality. In most cases, this translates into people leaving their money to their family, their school, their church and temple, … those things in their life that they are closest to.
If you accept this simple truth, then our job as fundraisers becomes very simple. Bring people close to us.
In every act and deed, in every action and communication, stay focused on that simple rule, and you won’t go wrong. For it is in the act of bringing people close to our organizations that positions prospective donors to make the decision to make a gift to your organization.
By the way … the reverse is equally true. If you don’t keep people close to you … don’t be surprised if they stop giving.
Mmmmmmm … bringing people close to you … dare we call that cultivation. 🙂
Five Moons in Alignment
Success in preparing for solicitation of a major gift prospect is dependent on seeking answers to five key questions.
Five variables which need special focus and attention. Each of these questions can be considered a ‘moon’ that you trying to get into alignment, as you prepare for making your solicitation presentation. As fundraisers, we are trying to seek clarification around each of these questions, seeking as solid as answer as possible so that we can maximize the chances of success when we present our ask.
So, what are these moons …
MOON #1: The Project. We need to be clear about what the desired project is that we are going to present to the donor prospect. Have you identified his/her interests and passions? Have you clearly researched and articulated the ‘case’ which you plan to present?
MOON #2: The Amount. How much are you going to ask for? Presenting a specific number is important for the prospective donor to react to. Have you sufficiently researched the appropriate giving threshold? Is is large enough to be a ‘stretch gift’, yet realistic enough or the prospect to say “yes” to?
MOON #3: The Timing. Just when ‘is’ the best time to present an ask? Has there been a change in the prospects life? Has he/she had a significant life-changing event? A retirement? Sale of a business? Have you given thought to when your ask would be best received?
MOON #4: The Ask Team. So who will be on your ask team? Identifying the best team (or person) to make the solicitation is important to maximizing the potential for success. Who has influence over the prospect? Do you need a ‘subject matter expert’ when making your ask? Who will actually deliver the ask?
MOON #5: Who will be Asked. While the answer to this question may seem obvious … after all, isn’t the prospective donor the person being asked? But maybe you should be asking yourself if others should be in attendance? Should the spouse be in the room? Maybe not. If this is a corporate ask, should the ask be presented locally, regionally, nationally?
Sometimes it is difficult to get complete answers to all five questions. As hard as you might try through effective cultivation and research, you might not be able to get all five ‘moons’ into full alignment before an ask is ready to be made. In this situation, knowing whether you should proceed to the ask with the information you have, or holding off and trying find more complete answers, is truly where ‘fundraising art’ meets ‘fundraising science’. Experience will be your best guide in this situation, but for now, work hard to get solid answers to the five ‘moons’, and maximize your chances for success.
Opportunity Offerer
It might sound odd, but the reality is I have never really considered myself a Fundraiser. That sounds too much like ‘taking something’ from someone, rather than giving. I like the mental picture of being an Opportunity Offerer. It’s a picture I keep in my mind always when I’m presenting someone with an opportunity to invest in the cause I’m raising money for. I like the fact that I’m ‘giving’ something to someone when I come to make the case for a philanthropic investment. I’m giving people a chance to make a significant difference in the lives of those who will be affected by the donation made. Pretty powerful stuff when you stop and think about.
“Opportunity Offerer” …. mmmmm, I like the sound of that, and more importantly, I like how it feels when I wear that philosophy on the outside of life.
Great Quotations on Opportunity:
“You’ll always miss 100% of the shots you don’t take.” Wayne Gretzky
“Next to knowing when to seize an opportunity, the most important thing in life is to know when to forego an advantage.” Benjamin Disraeli
“There are always opportunities through which businessmen can profit handsomely if they will only recognize and seize them.” Paul Getty
“Problems are only opportunities in work clothes.” Henry J. Kaiser
“I always tried to turn every disaster into an opportunity.” John D. Rockefeller
“The people who get on in this world are the people who get up and look for the circumstances they want, and, if they can’t find them, make them.” George Bernard Shaw
“Welcome every problem as an opportunity. Each moment is the great challenge, the best thing that ever happened to you . The more difficult the problem, the greater the challenge in working it out.” Grace Speare
