This is the text of an email; I copied it and pasted into the post using a clipboard, then added a little formatting. From The NonProfit Times.
NPT INSTANT FUNDRAISING April 13, 2011
In This Issue:
- Tips For Winning Back Your Lapsed Donors
- Major Gifts…Be upfront during discovery calls
- Fundraising…Getting everyone into the pool
- Special Events …Hosting a successful fundraising party
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Tips For Winning Back Your Lapsed Donors
By Mary Bogucki
Winning back lapsed donors is critical to an organization’s growth. The long-term value of a recaptured donor is usually better than that of a new donor. In addition, the cost to recapture a lapsed donor is less than the cost to acquire a new donor.
Prior to lapsing, these individuals were committed donors and might have supported your organization for an extended period. Circumstances that caused a change in their behavior could no longer be an issue, and therefore, understanding why they lapsed will help you develop a strong program focused on recapturing their loyalty.
First things first: Be sure to invest your dollars wisely. The initial step in developing any win-back program is to define the goal. It is best to think in terms of recovering recapture costs within two years. This can be accomplished by:
* Identifying only the best candidates for recapture, such as multiple givers and consecutive year givers; and,
* Employing strong, varied techniques to draw a recommitment. Once the recapture audience and tactics are defined, you will be able to use the 20 percent to 25 percent of your budget saved by excluding ineffective audiences towards front-end opportunities to retain/renew more donors.
Major Gifts…
Be upfront during discovery calls
Cold calling was under the microscope at a session “Mastering the Art of Discovery Calls” during the recent Association of Fundraising Professionals International Conference in Chicago, Ill. Advising fundraisers about myths in telemarketing, Eli Jordfald, senior major gifts director at the University of North Carolina-Chapel Hill, Lineberger Comprehensive Cancer Center, advocated for a donor-centered approach in making discovery calls.
Whereas as some consider the goal of a discovery call is to get an appointment, Jordfald said that a discovery call should be to assess whether a visit is appropriate. Ideal targets for a discovery call should be past donors, first time donors, alumni, donor referrals or people from screened patient lists.
“This shift in focus takes a lot of the pressure off making the actual discovery call,” said Jordfald. “It totally shifts the perspective on how we approach this fundraising technique.”
Jordfald also said that when fundraisers believe that they should not reveal their job title in the first call, they should actually be doing the opposite. “The job of a fundraiser is to raise funds for your cause,” said Jordfald. “It is important to be upfront about what you do.”
In addition, where most people would say that patients would prefer not to discuss their illness or their medical treatment, Jordfald has found that most patients are eager to talk about their experiences.
Keeping these aspects in mind, the storyline fundraisers should follow includes an opening, questions to assess interest in your cause, questions to validate capacity and questions to determine what next steps need to take place.
Fundraising…Getting everyone into the pool
Fundraisers searching for new fundraising channels often turn to leadership and volunteers within their own organization. In a session called “How to Successfully Involve the Leadership and Volunteers with The Ask,” during the AFP International Conference in Chicago, Ill., Laura Fredericks, fundraising consultant, discussed the most effective way to communicate with these parties to persuade them and turn them into your own fundraisers.
The act of engagement is key in first allowing yourself to be trusted by your fellow cohorts. Frederick’s advises to simply sit down each person you intend on making a fundraiser and asking them what they currently do for the organization and what gifts they would be comfortable in asking for from potential donors. Acknowledging that this process could be time consuming, Fredericks said it is, “worth the effort” if it means these people feel more connected to fundraising.
Ideally though, fundraisers should take time out of a retreat or a standing board meeting in order for them to emphasize the important roles that leadership and volunteers can play in fundraising.
Fredericks said a key phrase to use is, “The financial success of the organization is directly tired to the commitment and involvement of the leadership and volunteers.”
With realizing that everyone is all in this together and by speaking to everyone, your colleagues can better understand what the top funding priorities are and how they can assist in achieving those goals.
Special Events …
Hosting a successful fundraising party
Dependent on 75 percent strategy and 25 percent execution, fundraising parties have moved from “old school” social networking to an in-vogue option in expanding your donor base by building collective human energy.
During a session of the recent Association of Fundraising Professionals (AFP) International Conference in Chicago, Ill, called “A Strategic Approach to Old-Fashioned Parties,” Jill Dotts, executive vice president of the Michael Feinstein Foundation, discussed the best practices when organizing your own fundraising party.
In planning your own fundraising party, said Dobbs, it is imperative to have strongly defined leadership. These people will be responsible for hosting the party, locating staff, volunteers and vendors, having a formidable impact on the efficiency of the party.
It is also important to almost “start at the end,” in verbalizing what you want to take away from the party. Is it that you want money or the organization’s message to be remembered? How about the memory of the event? All these need to be considered as well. A focused goal will yield a better result in the outcome you desire.
You also have to keep in mind that you are throwing a fundraiser and not a “friend-raiser.” At the end of the party, do not be afraid to approach people to ask them for money. Getting out of your comfort zone and your willingness to lead will be beneficial in getting what you want out of your fundraising party.
