Relationships Over Everything
When I speak with executive directors and development officers, the most common challenge is finding new donors. Finding new donors to support an organization is not easy, and most organizations who participate in digital fundraising will see an influx of new donors annually with very low retention. When a DO says they need new donors, the question I ask is, “Do you need new donors, or are you trying to raise more money?” because new donors may not necessarily solve your immediate dilemma.
Unless you have adequately screened your current database, are sure that your donors are giving at their highest potential, or you have been executing on a major gifts strategy for a few years with no results, possibly acquiring new donors if not where you should begin. And let’s be honest, acquiring new donors is expensive and time-consuming. Wouldn’t it be easier to start with the folks who are already loyal givers? I believe in deepening relationships with your current donor base first. Discover the donors that have the potential to give more, make personal asks, and bring them along as ambassadors to help acquire new donors if that is what you really want, need, and can manage.
Honestly, who can really properly steward 200 individuals? A major gifts officer usually spends most of their time on the top 20% of their portfolio. Those individuals are engaged, interested, generous, and have a good relationship with the organization. So, if you chose to hire a firm to assist with new donor acquisition or employ some new marketing strategies, you also need a relationship development strategy that will be intentional about how to build rapport and support. Otherwise, you’ve wasted time and money and possibly lost internal support and trust in your decision making.
In any given year I contribute to about five organizations that I never give to again. But there are organizations that I give to annually, guess why? I have relationships, connections, and I feel they are making the difference I want to see in the world. Remember this how donors behave and think.
Fundraising is not a solo sport, its a team sport. It should be done in collaboration with everyone connected to the organization. Invite your board, staff, and volunteers to assist with your organization’s current relationships and supporters. And as a practice, we should always be tapping into our board, staff, and volunteers to make connections to new donors or funders. These existing connections are key to raising more money.
Many years ago I began adopting a minimalist life. I am about four years into the process and I have come a long way. There were a lot of things in my life that were crowding up space and time from the things that mattered most to me like being with the people I loved, hiking, being creative, and travel. What if we applied those principles to our work? What could we accomplish if we focused on meaningful relationships that yielded meaningful gifts over time? Rather than metrics that do not account for the quality of those relationships and the long-lasting impact of the time spent on getting to know individuals and connecting them to the mission.
So for those who find themselves in a place where they need to acquire new donors, of course, use all the resources available to you, i.e., board, volunteers, prospect researchers, marketing firms. But make sure you have a plan and the resources-both financial and staff to support developing meaningful relationships.
Want to improve your donor relationships? Download my guide “Bringing Greater Heart and Soul to Fundraising: Building Authentic Donor Relationships.”