Major Donor Solicitation Principles: ACE your Fundraising Pitch!
The number one major donor solicitation rule is prepare … that’s also the second, third, fourth, and fifth rule.
However, there are some key principles underlying that rule - principles that will take your preparation a long way towards acing your donor solicitation meetings. Following them will engage your donor prospect in becoming both a financial supporter and a voice for your organization among their peers and within the community.
Keep it simple.
Ask your no-doubt-busy donor-prospect for just a half hour of their time, which most people can accommodate. Then follow the first principle: keep your pitch simple. Doing so recognizes the half-hour time constraint as well as the limited attention spans of most people. Introduce your organization and its project in plain language within two sentences. Allow the give and take of the conversation that follows to bring out important details– that’s far more engaging than becoming a proverbial talking head.
Be a storyteller.
As you explain the details of your project and its impact, make it a story. Human beings are wired to listen to stories. They bring your project to life, as people pay more attention to them than they do to a dry, fact-filled narrative. Have two protagonists: your project’s beneficiaries and your donor. Beneficiaries, who you describe as vividly as possible, encounter trials and travails. The donor has the opportunity to step in as the hero who helps the beneficiary overcome their troubles.
There is another character in the story, and that’s you. Intersperse details about why you’re involved and, as you do, authentically share your passion for your organizational mission and the project. Passion is truly contagious and it helps you get over any trepidation you may have about asking for money.
Bring the best partner.
Identify your natural solicitation partner for the donor, the person – staff, board member, or other volunteer – your prospect will most respect or relate to. This could be someone the prospect will have the hardest time saying no to: someone the donor perceives as important, authoritative, credible, and in the best position to assure them that their gift will be used as intended. Or it could be a person with whom the donor has the best pre-existing relationship – perhaps the director of development, or major gifts officer, or a donor volunteer. Keep your solicitation team small so you don’t overwhelm the prospect. And make sure to decide in advance who will make the ask and, of course, the amount of the ask.
Be knowledgeable.
When presenting your organization and project, make sure you have your facts straight and that details are up-to-date. Be prepared to define what you need and why you need it, and always be transparent. As you clearly articulate the value proposition (the reasons to support your nonprofit/your project’s benefits to the community) and connect it to the vital role their gift will play – major donors want to know their gift is crucial to your success. Bring information and compelling visuals to reference during your meeting, but don’t weigh the donor down with statistics and pie charts.
Try to anticipate answers to questions they may ask and, if you don’t know something, tell the prospect that you’ll find out and get back to them.
Craft answers to key questions in advance:
How much will the total project cost?
How many will it help?
Specifically, how will the donor’s gift be allocated?
Who will be responsible for the project’s outcomes?
What will happen if you don’t raise enough?
How do you know this will be successful?
Being able to answer their questions reassures them that they’re making a smart investment.
Don’t go in cold.
Remember that you’re not the only one who needs to be prepared – the prospect does, too, so make sure they know exactly why you’re meeting. Set the right tone by choosing a suitable place and time, and bringing appropriate materials.
But before you even set the meeting, you must first cultivate, cultivate, cultivate, and do it with attention and intention. Bring the donor along at an appropriate pace by developing a year-long individual stewardship agenda with multiple interactions and fun included.
Engage each prospect multiple times and in multiple ways that are not about financial giving:
events
tours
group get-togethers
one-to-one visits
phone calls
check-in emails
greetings
newsletter articles
social media
impact reports
and lots and lots of thank-yous
Ultimately, you’re going to be asking for a large favor, and they are more likely to invest in you if you’ve invested in them - it’s about reciprocity, and it makes all the difference. When they do give, your stewardship and appreciation will ensure that the donor will feel good about their philanthropic investment, not just as the point of commitment but into the future, providing the basis for long-term financial support. And they’ll serve as an ambassador to theirs peers, who may t join them as donors to your organization.
Use “connecting” language.
Be positive, happy, present and solutions-oriented, rather than stressing difficulties. Use words that are the appropriate tense and degree of formality. Don’t apologize, beg, exclude, or assume what the donor may or may not be able to do. Do ask questions about what they think as you go along -- make it a conversation that brings you together in finding common ground. Frame the discussion as an investment in positive societal impact.
Get ready to fulfill.
Always follow through on any commitments made to the donor. Have systems in place to track donor activity, report out to your organization leadership, and further engage the donor. Make sure your database and staff training enable this follow-through. Be ready to acknowledge their gift promptly and personally and to report back on the impact of their philanthropy. Multiple staff and volunteers may become involved stewarding donors, and each interaction must become part of your institutional memory. Donors don’t like it when something they’ve said is forgotten; they want you to know them.
Think about your stewardship plan in advance. Track donor preferences and engagement points in your database so you ensure the best, most personal stewardship experience possible. If you notice that engagement is diminishing, put in place new stewardship “touches” to remedy the situation.
Things to track include:
events attended
volunteer activities
email/blog opens
communication preferences
social media advocacy
website visits
inbound interactions (the donor calls, stops by, sends email, writes you a letter)
soft credits – matching employer; foundation; donor-advised fund (an indication that they’ll be a donor for many years; folks don’t set them up unless they intend to use them)
Meeting Outline
Now that you have these principles as the context for developing your pitch, here’s a short outline to adapt for the donor meeting conversation that becomes the ask:
Gratitude
Thank you for talking with us today!
Value Proposition
Why we are here today
The Need
What the organization needs most
The Solution
What the donor can do to help (soft ask)
The Anchor
Supporting data or information
The Call to Action
Specific ask to the donor
Following the major donor solicitation principles outlined above will help you ace your donor visit. But, more importantly, they will be critical to ensuring your ability to develop the lasting relationships that are key to building a sustainable, ever-increasing funding base for your organization. Get ready to ace it!