Mastering the Essentials: 13 Fundraising Fundamentals for Nonprofits in the New Year
It’s 2024. How did that happen?
Last month, I reviewed what we did together in 2023. We talked about how you have to look back to look forward.
Now (hopefully) you’ve had a moment to look back at your revenue numbers for 2023.
You have hopefully exceeded your goals.
You have hopefully brought in more donors.
You have hopefully increased your retention numbers.
You hopefully already have a plan for what to do with all these donors that recently just gave to your organization.
No?
Or maybe some of those questions can be answered in the affirmative while others are still unknown?
Well, no worries, I got you. Here is where to start.
Go back to basics.
If you were receiving my emails or following me on LinkedIn this past summer, you would have seen I reviewed the fundamentals of fundraising. So let’s start there and give you a refresh so you can have your most successful fundraising year yet!
1) 🏋️ Fundraising is about building relationships.
Now is the time to call your donors. Ask how their holiday was. Did they go away anywhere? See their family? What are they excited for in 2024? What are their thoughts on how your nonprofit is doing?
Be honest and authentic when you speak to them. Really listen to what they say and be yourself. This is the best way to build that rapport.
2) 💞 Follow up with your donors.
Since you just tried calling your donors, chances are you may have received a voicemail or two (or 100). Try again. Leave a message.
Try another channel to contact them – text them, connect with them on social media, or send a handwritten note.
3) 🔎 Look at who you already know.
Maybe you’re thinking to yourself, we didn’t really grow our major gifts numbers OR we’re soon to start a big new capital campaign and I have no idea how we’ll get there.
Go back to who you know. Consider who used to give, consider who consistently gives at a mid-donor level, consider who your most connected donors might be able to introduce you to.
4) ❓Your message needs to start with the why. Not the how or what.
Do you know Simon Sinek, the world-renowned thinker, ethnographer, and optimist? He is most known for his theory around the Golden Circle, which talks about What, How & Why.
At this point of the year, you must continue talking to donors about giving (it isn’t just a Q4 task!). So start with the why.
Why do you need the funding? Why does it matter? Tell that story to your donors all-year long.
5) 🛑 You have to ask your donors for donations with a question, then wait for the answer.
People tell me all the time, I don’t know what to actually say when asking a prospective donor for a gift.
Here is what you do: you ask them for a gift as a question (i.e. will you, would you, etc.) and then you stop talking to listen for their answer.
Now’s a great time to practice with your staff on how to better solicit your donors (if you need help with them, I offer custom trainings. Let me know if you want to talk about this).
6) 📝 Make a plan. Work your plan.
If you’ve worked with me before, you’ve heard me say this time and again. You can’t just create an elaborate plan to achieve your results. You actually have to go out and do it.
So let’s set aside some time to figure out how you will reach your financial goals this year, and implement to actually do it.
7) 👩🔬 Test. Test. Test.
While you cannot know the future, you can try something and see how it works. Then review the feedback, the metrics, the results and make plans for the future.
It’s the beginning of the year so let’s figure out what you want to test to learn what works with your donors.
8) 💸 Ask for non-cash gifts.
Take a look at the dollars that came in this past year. How many of your donors gave at the same level? How many have been giving at the same levels for YEARS?
Talk to your donors about non-cash assets – like stock gifts, donor advised funds, and Qualified Charitable Distributions from their IRAS. These types of gifts will likely lead to bigger amounts.
9) 📈 You can’t do everything. Start with one thing and build from there.
This is a long comprehensive list of fundamentals and my guess is, you’re already busy. You know your fundraising is essential to your organization’s success.
So where to begin with all these new ideas? You start with your strengths. And take it from there.
10) 🍕Segment your donors and personalize your outreach.
I just wrote, you can’t do everything. You can begin though with segmenting your donors into different categories and personalizing based on some commonality.
That might be giving level or way they gave or first-time donor vs long-time donor.
11) 🤝 Working with your board is essential for success. And it’s the staff’s job to make it easy for the board.
Let’s make 2024 the year of properly working with your nonprofit board of directors.
To do this, make your requests easy to complete – send reminders and templates and share what other board members are doing.
Curious to learn more about this? I have more to say coming out in March 2024.
12) 🤹 Fundraising is a skill that can be learned.
Remember when you first started to drive? At first, you might have been nervous, and weren’t too sure how hard to press the pedals. Perhaps you had someone to teach you. And you practiced.
Fundraising is another skill, just like driving. At first, you might be nervous about what to say or how to say it. But have you ever had a professional train, guide or coach you through it? (Hi! I can be that person for you).
13) ⏭️ Donors give based on what’s next, not on what happened.
When you steward a donor, you tell them about the impact of their gift. You tell them about how their gift mattered. And that builds trust in your organization that is actually making a difference.
But now, as we launch this new year, chances are, you want them to give again. So they have to know what you intend to do next. So tell them!
Ok ready to go with 2024? Need some help to strategize and implement?