Picture this: You’re the Executive Director in a meeting with trustees and a development consultant, discussing the approach for major donor fundraising.
As expected, a board member says, “We don’t feel comfortable asking people for money."
The consultant responds by saying, "Neither do we.”
Engaging with donors isn’t about asking for money. It's about offering opportunities. In this article, we unpack ways to present opportunities to donors, not just a price tag. This focus removes the stress of asking for money for both the fundraiser and the donor.
Offer Opportunities
Consider a gym membership. They don’t just advertise the price of the membership. They don’t simply say, “Give us $100 a month.” Instead, they frame their offering as an opportunity. They sell a vision of a healthier you, a possibility to become stronger, and to be part of a community. It’s not about the transaction; it’s about the experience and the potential that comes with a membership. Similarly, when approaching major donors, we must focus on the opportunities we’re offering rather than the price tag.
Help the World Innovate
Think about how Product XYZ’s marketing initiatives invite you to be the most creative version of yourself by using their product. They emphasize how their tools can help you unleash your creativity, innovate, and design in ways you never thought possible. In the same vein, when engaging with major donors, you should highlight how their contributions can enable innovative growth within your unique nonprofit. Offer them the chance to support groundbreaking projects and initiatives that can transform communities and lives for the better.
Make a Mark on the World
An effective fundraiser offers donors the opportunity to leave their mark on the world. This is why major capital improvements often bear someone's name. Major donors not only want to invest in projects they are passionate about, but they may also want to leave a lasting legacy or pay tribute to someone special. By supporting your nonprofit, donors should have the chance to be remembered for their generosity and vision.
Fulfill Aspirations
A University’s marketing narratives may include the promise of fulfilling your greatest potential. They suggest that with a degree, you can achieve things you never imagined. When talking to major donors, we need to convey a similar message. Your organization has the ability to make the world better in a way that aligns with the donor’s greatest passions and goals. We aren’t just asking for money; we’re helping donor’s reach their highest aspirations, while fulfilling our organization's mission.
Creating Visual Aids
Ultimately, great salespeople do tell you the price, but only after painting a vivid picture of the value and possibilities their product offers. When meeting with major donors, it’s important to discuss the financial aspect after it’s been communicated what the end-result will look like. What will the new building look like and what will the impact of the new space be? What programs are being supported and what does a client success story look like? Emphasize the incredible impact support can make. It’s not about the cost; it’s about the opportunity to make a difference. If the vision aligns with their values, the discussion of costs becomes a natural part of the conversation.
Pro tip: Sometimes asking for a specific amount is not appropriate. It may be more suitable to help the donor understand the project’s budget and then provide various donation tiers with corresponding donor benefits. Regardless, many major donors want to be involved in the project, so asking for their feedback and insight is crucial to help them feel part of the story.
Meeting with Major Donors
Remember, meeting with major donors is about offering opportunities: opportunities to change the world, to create programs that make the world a better place, or to design places and spaces that bring happiness to communities. By shifting the focus from soliciting donations to presenting opportunities that can lead to significant change, nonprofits can engage major donors more meaningfully.
If you need help creating a major gift plan and engaging with major donors, reach out to the Mighty Penguin team today!
