major gift fundraising done easily (dsaia 2015)
TRANSCRIPT
Major Gift Fundraising Done EASILY
from the donor’s perspective
Your presenter »
@StevenShattuck
Steven Shattuck@StevenShattuckVP, Marketing -‐ BloomerangContributor to: Ragan, NTEN, Social Media Today, National Council of Nonprofits, Search Engine Journal, HubSpot, Content Marketing Institute, Nonprofit Hub, DonorSearch
Speaker:
Association of Fundraising Professionals, National Council of Nonprofits, ADRP, NCDC, NAMP, ANN, Nonprofit Network, SCANPO, 4GOOD
Volunteer:
Indiana State Museum (Board), CICOA (Communications Committee), Irvington Halloween Festival (Communications Director), Brackets for Good (Advisor)
stop sign image
@StevenShattuck
Do you have a MG strategy? »
• You bet: 41.13% • Not really: 58.87%
https://bloomerang.co/blog/data-‐the-‐2015-‐state-‐of-‐major-‐gift-‐fundraising
@StevenShattuck
The best major gift prospects »
• AT LEAST 2 years of giving • IDEALLY 5+ years • 12-‐18 moves to cultivate/solicit a major gift
Your best major gift prospects are donors you retain over time.
@StevenShattuck
Your retention strategy is your major gift strategy!
The 2014 results are in »
https://bloomerang.co/blog/infographic-‐2014-‐fundraising-‐effectiveness-‐project-‐survey-‐report
@StevenShattuck
Donor Attrition Over Five Years
# of Donors Attrition Rate
Donors Remaining After 1 Year
Donors Remaining After 2 Years
Donors Remaining After 3 Years
Donors Remaining After 4 Years
Donors Remaining After 5 Years
1,000 20% 800 640 512 410 328
1,000 40% 600 360 216 130 78
1,000 60% 400 160 64 26 10
Impact on your pipeline »
@StevenShattuck
Median rate
• 5% -‐ thought charity did not need them • 8% -‐ no info on how monies were used • 9% -‐ no memory of supporting • 13% -‐ never got thanked for donating • 16% -‐ death • 18% -‐ poor service or communication • 36% -‐ others more deserving • 54% -‐ could no longer afford
Why nonprofit donors leave »
https://www.linkedin.com/today/post/article/20140520191728-746287--infographic-why-donors-stop-their-support
@StevenShattuck
• 5% -‐ thought charity did not need them • 8% -‐ no info on how monies were used • 9% -‐ no memory of supporting • 13% -‐ never got thanked for donating • 16% -‐ death • 18% -‐ poor service or communication • 36% -‐ others more deserving • 54% -‐ could no longer afford
Why nonprofit donors leave »
https://www.linkedin.com/today/post/article/20140520191728-746287--infographic-why-donors-stop-their-support
@StevenShattuck
@StevenShattuck
https://bloomerang.co/blog/infographic-‐the-‐great-‐5-‐donor-‐communications-‐experiment
@StevenShattuck
https://bloomerang.co/blog/infographic-‐the-‐great-‐5-‐donor-‐communications-‐experiment
$5 experiment »• 48/50 email receipts • 17/50 snail mail letters • 3/50 hand written notes • 0/50 phone calls (19 asked for phone #s)
@StevenShattuck
First-‐time donors »• first-‐time donors who get a personal thank you within 48 hours are 4x more likely to give a second gift (Tom Ahern)
• a three-‐minute thank-‐you call will boost first-‐year retention by 30%. (Roger Craver / The Agitator)
• a thank-‐you call from a board member to a newly acquired donor within 24 hours of receiving the gifts will increase their next gift by 39%. (Penelope Burk)
http://www.nonprofithub.org/fundraising/excuses-‐need-‐call-‐every-‐new-‐donor
http://www.guidestar.org/rxa/news/articles/2010/how-‐to-‐increase-‐donations-‐by-‐39-‐percent.aspx
New donor retention is even worse »
https://bloomerang.co/blog/infographic-‐2014-‐fundraising-‐effectiveness-‐project-‐survey-‐report
@StevenShattuck
@StevenShattuck
The best major gift prospects »
• AT LEAST 2 years of giving • IDEALLY 5+ years • 12-‐18 moves to cultivate/solicit a major gift
You need a plan!
Segmenting & Cultivation = Stewardship
@StevenShattuck
Acknowledgement segmenting »
@StevenShattuck
Above average gift amount
At or below average gift amount
Acknowledgement segmenting »
@StevenShattuck
http://www.tripointfundraising.com/how-‐are-‐you-‐treating-‐your-‐donors-‐time-‐to-‐find-‐out
http://ignitedfundraising.com/resources/sample-‐timeline-‐donor-‐retention
Sample cultivation plan »
Free pdf at www.tripointfundraising.com
@StevenShattuck
Retention alone isn’t enough.
What keeps a donor committed?
@StevenShattuck
@StevenShattuck
• Survey of 250 nonprofits • Asked to rate 32 drivers by importance to them
• Here are the top 7…
Key drivers of donor commitment »
@StevenShattuck
Key drivers of donor commitment »1. Donor perceives your organization to be effective in trying to achieve its mission. 2. Donor knows what to expect from your organization with each interaction. 3. Donor receives timely a thank you. 4. Donor receives opportunities to make his or her views known. 5. Donor is given the feeling that he or she is part of an important cause. 6. Donor feels his or her involvement is appreciated. 7. Donor receives information showing who is being helped.
@StevenShattuck
Horse before the cart »
• Get obsessed with retention • Fast, personalized and heart-‐felt acknowledgement • Create and implement donor segments • Draft long-‐term stewardship plans
NOW we can start thinking about major gifts.
@StevenShattuck
E AS IL Y
Major Gift Success »
@StevenShattuck
EngagementAsksSystemIntelligenceLegacyYou
Major Gift Success »
@StevenShattuck
EngagementAS IL Y
Major Gift Success »
@StevenShattuck
norman rockwell family image
• Family life • Hobbies • Career • Education • Aspirations • Passions • Why they give/volunteer!
Know the donor »
@StevenShattuck
• Get to know them on a personal level • Find and involve those they have relationships with • Make all interactions fun (delight them!) • Make sure they know multiple people in the org • Provide them with (relevant) volunteer opportunities • Use their talents wisely • Are they personally connected to the mission?
Become part of the family »
@StevenShattuck
Volunteers / Board Members »
http://www.fidelitycharitable.org/docs/Volunteerism-‐Charitable-‐Giving-‐2009-‐Executive-‐Summary.pdf
http://newsroom.bankofamerica.com/sites/bankofamerica.newshq.businesswire.com/files/press_kit/additional/2014_US_Trust_Study_of_High_Net_Worth_Philanthropy_-‐_Executive_Summary.pdf
Donors give twice as much, annually, when they volunteer with the organization. On average, the giving rises from $39,000 per year to $78,000. And the most common volunteer activity is serving on the board.
Volunteers are 10x more likely to donate to your charity than non-‐volunteers.
@StevenShattuck
Measuring engagement » • Recency of giving + -‐ • Cash vs. EFT vs. CC + -‐ • # of years giving + • Upgrade / Downgrade + -‐ • Lapsed -‐ • Event attendance + • Opens email + • Click links in emails + • Pattern of giving + -‐ • Responded to survey +
• Has stated communication preferences +
• Has inbound interactions +
• Has soft credits + • Volunteerism + • Has complained + -‐ • Monthly donor + • Unsubscribes from email -‐
@StevenShattuck
Complaints are okay, if… »
@StevenShattuck
Source: Target Analytics, 2009 DonorCentrics US Recurring Giving Benchmarking Analysis
EngagementAsksS IL Y
Major Gift Success »
@StevenShattuck
Donor communications »
“Successful appeals are quite simple. At heart, they are love letters to donors and prospects, woven through with clear cries for help.”
-‐Tom Ahern, Bloomerang Donor Communications Head Coach
@StevenShattuck
Beginning of mail
End of mail
Elapsed time: 1-‐3 seconds
@StevenShattuck
You’re trying for “mental nods.”
Tom’s Secret to Success »
@StevenShattuck
Keep the donor at the center.
Tom’s Secret to Success »
@StevenShattuck
@StevenShattuck
Don’t bore them.
Tom’s Secret to Success »
@StevenShattuck
Get them into a fight.
Tom’s Secret to Success »
@StevenShattuck
Remember your S.M.I.T.
Tom’s Secret to Success »
@StevenShattuck
“Focus on the S.M.I.T. (single most important thing) you want to tell someone, right now.
Ideally focused on a story about an individual.” -‐-‐ Jonathon Grapsas
Personalize! »
• Use their name • Use the pronoun “you” • Include geography
• (“as a resident of…”) • Include an audience attribute
• (“as a parent of… you know…”) • Handwritten touches, or all handwritten
@StevenShattuck
Acknowledgements »
• It’s not about you, it’s about the donor • Share stories, not success • Prove that it was worthy of their support • Tell how money was spent • Make the donor the hero of the story • Multiple modes of communication (phone, in-‐person)
@StevenShattuck
EngagementAsksSystemIL Y
Major Gift Success »
@StevenShattuck
team image
All interactions must be recorded and accessible to everyone.
Everyone using the database!
@StevenShattuck
EngagementAsks SystemIntelligenceL Y
Major Gift Success »
@StevenShattuck
@StevenShattuck
Prospect research / wealth screening »
Seattle’s Lakeside Upper School counts … Bill Gates among its alumni. Rumor has it a fundraiser for the high school called Gates, who asked: “How much is everyone else giving?” About $75 he was told. “So put me down for $75,” said Gates.
-‐-‐ Forbes, Jan 22, 1996, p. 16
@StevenShattuck
Prospect research / wealth screening »
5 best indicators »
@StevenShattuck
5 best indicators »
1. Previous Giving To Your Nonprofit
https://bloomerang.co/blog/5-‐indicators-‐for-‐identifying-‐the-‐best-‐potential-‐donors
@StevenShattuck
5 best indicators »
1. Previous Giving To Your Nonprofit 2. Giving to Other Nonprofits
https://bloomerang.co/blog/5-‐indicators-‐for-‐identifying-‐the-‐best-‐potential-‐donors
@StevenShattuck
5 best indicators »
1. Previous Giving To Your Nonprofit 2. Giving to Other Nonprofits 3. Participation as a Foundation Trustee
https://bloomerang.co/blog/5-‐indicators-‐for-‐identifying-‐the-‐best-‐potential-‐donors
@StevenShattuck
5 best indicators »
1. Previous Giving To Your Nonprofit 2. Giving to Other Nonprofits 3. Participation as a Foundation Trustee 4. Federal Political Giving
https://bloomerang.co/blog/5-‐indicators-‐for-‐identifying-‐the-‐best-‐potential-‐donors
@StevenShattuck
5 best indicators »
1. Previous Giving To Your Nonprofit 2. Giving to Other Nonprofits 3. Participation as a Foundation Trustee 4. Federal Political Giving 5. Real Estate Ownership
https://bloomerang.co/blog/5-‐indicators-‐for-‐identifying-‐the-‐best-‐potential-‐donors
@StevenShattuck
hugging image
EngagementAsks SystemIntelligenceLegacyY
Major Gift Success »
@StevenShattuck
legacy image
Everyone wants to leave a legacy »
• Base it on a project opportunity • Never undesignated!
@StevenShattuck
EngagementAsksSystemIntelligenceLegacyYou
Major Gift Success »
@StevenShattuck
Success depends on you » Create KPIs and stick to them!
KPI Feb March Goal
Phone Calls87 123 100
Emails175 123 150
In-‐Person11 8 10
Asks21 20 25
@StevenShattuck
Remember »
• Retention comes first • Go secret-‐shopping • Get to know the donor on a personal level • Get a donor to 5 years of giving • Be ruthless about recording moves / interactions • Use prospect research / wealth screening strategically • Avoid undesignated asks • Have fun!
@StevenShattuck
Now you’re ready to ask!
@StevenShattuck
9 Common Errors »
• You don’t ask for the gift. • You don’t ask for enough money. • You do not listen and instead talk too much. • You don’t ask questions. • You talk about the organization and its approach rather than about benefits to the donor.
http://www.asaecenter.org/Resources/whitepaperdetail.cfm?ItemNumber=32284
“Who ever speaks first, loses.”
@StevenShattuck
9 Common Errors »
• You are not flexible in what they ask for and have no alternatives ready to offer the prospect.
• You do not properly train your solicitors. • You do not know the prospect before solicitation. • You are too fearful of receiving a no.
http://www.asaecenter.org/Resources/whitepaperdetail.cfm?ItemNumber=32284
"If you want money, ask for advice. If you want advice, ask for money.”
@StevenShattuck
Free educational resources »
@StevenShattuck
https://bloomerang.co/retention
Free educational resources »
@StevenShattuck
https://bloomerang.co/resources
•Daily blog post •Weekly webinar •Downloadables •Nonprofit Wrap-‐Up •Bloomerang TV
Major gift survey »
@StevenShattuck
https://bloomerang.co/blog/data-‐the-‐2015-‐state-‐of-‐major-‐gift-‐fundraising/
