This is the fourth in our series on fundraising management. Last time we talked about Three Major Duties of Great Fundraising Management. This time we’ll discuss the must have management tools for your teams fundraising success.
SEVEN STRATEGIES TO PINPOINT HIGH-QUALITY DONORS
Though virtually all donors are valuable and vital to your organization, high-quality donors are those supporters who can make an extra impact on your cause. They are most likely to be “ideal” donors not only in the size of the gifts they make, but in terms of the degree of engagement, their match to your organizational values, and their sheer desire to be involved that they demonstrate to you.
Fundraisers, has the holiday season got you down? Have you gone to too many fundraising parties and special events? Are you wearing yourself out managing your own nonprofit's last-minute fundraising? Does "holiday cheer" start to sound like "holiday torture" around now? If that's the case, you're suffering from EFS - Extreme Fundraising Stress. This malady occurs most frequently at the end of the year, when you and every other fundraising professional and nonprofit executive are driving the bulk of their annual appeals and special events. If EFS is getting you down, it's time to use the Bristol Strategy Group SMART Tips for a stress-free and productive holiday season:
If you want to get fundraising right and not backwards, then the first step toward doing so is to get the Five Components of Successful Fundraising clear in your mind. Do this stuff before you start planning your next gala or sending out a bunch of (unqualified) grant applications.
Quick, boys and girls!! What's the least understood function in the nonprofit world? One, two, three - it's fundraising! Dan Pallotta calls it "the black sheep of the fundraising sector." Nonprofits brag about how little they spend on it. Executive directors complain about it (or at least their lack of results). And boards of directors make demands and expect miracles from the fundraising department, always with the best of intentions, but not necessarily with awareness of costs or other constraints.
There's often a lot of talk about metrics in the fundraising world. Yet, why is it that I work with so many nonprofit professionals who don't get metrics, don't use 'em much, choose metrics that are weak at guiding performance, or seem to fear using metrics at all? Maybe people think that the use of metrics will slow down their development efforts, or make it harder for the team to perform. When metrics actually give power to the team - at least if you define them right! Repeat after me: the right fundraising metrics lead to the right fundraising results.
When you're fundraising, are you in charge or is your prospect? It might surprise you to know that lots of people who raise money (or are supposed to, anyway) are crippled by "Ask Reluctance." And one reason is that they let their prospective funders be in charge of the process.
I just had a great conversation with two people who, like me, have been thinking about the Art-vs.-Science debate that's been going on in fundraising circles for a while now. One is Linda Lysakowski, a multi-published fundraising author and expert in the field. The other is Cathy Williams, who's chairing the Fundraising Effectiveness Project for AFP (the Association of Fundraising Professionals). It was really reassuring to hear from these experts that there is a growing awareness of the need for science in the fundraising field, and a growing hunger for "scientific" resources that help nonprofits achieve great results through fundraising.