Having trouble getting your nonprofit board to open doors to their friend’s? You’re not alone. This article explores reasons why boards withhold info & offers tips for navigating the situation.
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This guide reveals 5 major gifts fundraising best practices to cultivate major gifts & skyrocket your goals.
If you don’t do anything else in your year-end campaign, you must do this; visit your major donors & invite them to invest in your cause.
One of the biggest challenges for major gift fundraisers is in the area of prospect management. When you have a whole list of projects in your portfolio, how do you prioritize your assigned prospects? That’s where the concept of a Backburner List comes in handy.
It’s a matter of organizing your portfolio.
How do you sift through many names to find the right people who want to get more involved?
With over 100-150 donors to manage, how can you organize yourself so that you are focusing on the right prospects at the right time?
How can you make sure you are spending your time at its highest and best use?
Each day, major gift fundraisers are forced to make choices. Which donors will you choose to spend time with and which donors can you safely ignore? You only have so much time to go around, and you have too many donors for the amount of time available.
The trick is to ensure you spend your time with the right people. Your time is just about the only thing you can control (you certainly can’t control donors!), so you want to be super smart about your own time management.
And yet, you don’t want to overlook a prospect simply due to lack of time and/or the prospect isn’t responding or available.
It’s easy to fall into the trap of only seeing your “favorite” people – the easy prospects who are always game for a call or visit. But this may not be the best strategy.
What Can Go Wrong?
A lot. While you are chatting up your most available prospects, you might overlook that more elusive donor. You know them – the ones who are hard to get a meeting with, the ones who take weeks to call you back, the ones with whom no one at your organization has a relationship.
But that prospect may just be worth your time. They have the capacity and a solid giving history to your organization. They do have potential, and you don’t want to forget about them. What is a major gift fundraiser to do?
Your Top Secret Strategy.
Every day, you must evaluate your list of prospects and decide who you will focus on. Which donors need to be priorities, and which ones can simmer in the background?
Then you need an organizing scheme that allows you to segment your portfolio. Create your top ten and then your next group, etc.
What Should You Do with Elusive Prospects? Create a Backburner List.
Your Backburner List includes prospects who are not a priority right now. For example, they may not be ready to discuss a gift – yet. These donors are simply “simmering” on the back burner while you focus on the prospects who are warm or hot.
Who Goes on the Backburner List?
- People you don’t want to forget about – they are promising, but their timing is off. They’ll need attention later, but not now.
- People who may merit a closer look. One day you will be able to have more discovery conversations with them, so you can find out how interested they really are.
- People who may have given recently and who (of course) need continued touches and attention.
Why Have a Backburner List:
1. Lowers Stress.
Trying to pay concentrated attention to a large number of donors is simply impossible. You are spread too thin. You will end up feeling stressed because you’re not “covering” your portfolio of donors well enough.
2. Organizes Your Prospects.
The Backburner List allows you to organize your prospects. Everyone needs a workable prospect management system that guides you to set your priorities.
3. Bless and Release.
How wonderful! You can even bless and release prospects who are not responsive, who are rude or unpleasant, or are simply not interested in a closer relationship. You can put some of them on the Backburner so you don’t forget them later.
4. Makes You More Productive.
Yes! Let’s make everyone on the team more productive. You have a system that helps you focus on the right prospects. You’re not spreading yourself too thin. Instead, you’re concentrating on where you see the highest gift potential for right now.
Remember, it’s all a judgment game. We are not saying, “ignore half of your portfolio.” Instead, we recommend a system that lets you sift through everyone on your list so you can set priorities efficiently.
Bottom Line: Create a Backburner List and you’ll save time by focusing on the right donors. And, you’ll raise more money.
Even more, you’ll also lower your stress level, and sleep better at night!
As always, it is a pleasure to share our weekly news and insights with you.
If your organization is planning a capital campaign or launching a major gifts program – we can help. We’re with our clients every step of the way, inspiring their teams and board, building confidence, driving action and measuring success. Send an email to coaching@gailperry.com if you’d like to schedule a strategy or consulting call with us.
Yes, there are many more major gifts fundraising mistakes to discuss! The activity of engaging with a potential donor, face to face, or person to person, can create fear and anxiety in many people. At best, it can feel terribly awkward. On the other hand, if you are really interested in the donor as a person and want to know more about them, the encounter can be enjoyable and highly productive. We shared four top fundraising mistakes last week here, and this post shares three more common blunders we see every day.
Major Gift Fundraising Mistake #5: Talking Too Much!
Too many nonprofit leaders blather away at their donors, thinking they need to “sell” the donor on a big idea or opportunity. Yes, you do want to share your ideas, but don’t forget that your donor has a lot to say too, and also wants to share THEIR ideas with you. They don’t want to be talked “at.” Instead, your donor wants to be heard. Imagine that! And it’s your responsibility in a donor visit, to hold the space, so to speak, for the donor to share that’s in their head and in their heart. If you do all the talking in a donor visit, you accomplish nothing. In fact, if you are talking more than 50% of the time, you are shooting yourself in the foot! My motto has always been: “When in doubt, shut up.” If you are not sure what to say, I can promise you that your donor will fill the silence and say something. And you really want to know what is on your donor’s mind!
Mistake #6: Not Upgrading Donors
How do you upgrade a donor to give at a higher level? So many fundraisers are stuck and don’t know how to bring this up without feeling awkward or pushy. In fact, fundraisers are often so nervous about asking for a higher gift amount, that they often leave money on the table. But the reality is that your donor may be absolutely willing to give more – but you don’t know how to bring it up! It’s easy. First, be sure to ask for permission to bring up the topic of a gift. All you have to do is ask your donor if they’d like to do more. Or if they’ve ever considered doing something more. Your donor will surprise you! You can say, “If I may, can I ask you if you ever thought about doing something more?” You just may be surprised!
Mistake #7: Missing the most important prospects.
Fundraising leaders tell us that their teams are often confused and lack focus. MGO’s don’t understand how to find the right donors. They fritter away their time on the wrong people. When that happens, no one raises money! Many MGO’s have up to 150 prospects in their portfolio. How do you manage all these people? How do you set priorities? It can be a confusing morass. We believe in the Top 10, Next 20, Next 30 approach. You can be successful if you organize and prioritize your donors in this simple format. Your Top 10 donors get the most attention. Your Next 20 donors are in line next. And, your Next 30 donors can fill in when you can’t see the other top ones. This structure has worked for many of our clients and we strongly recommend it to you.
Bottom Line: Avoid These Major Gifts Fundraising Mistakes!
Don’t feel alone! We’ve made these blunders before ourselves. Let these videos guide you and your team to major gifts fundraising success!
Major gifts fundraising mistakes are everywhere! Dealing with major donors can be so challenging – and the entire effort is subtle, full of nuance. You’re trying to make friends with someone who expresses interest in your cause, but what to do? How to do it? What to say, and when? What not to say? And then, how do you coach C-suite executives on appropriate behavior with donors? They are the ones who tend to “talk at” the donor rather than allow the donor to do the talking. Each of these videos outlines a key mistake that happens all too often.
So today, we’re laughing at some frequent major gifts fundraising mistakes that we often make.
Don’t forget – in our Major Gifts Intensive coaching and training program, we are teaching everyone the correct way to work with major donors. Your visits will have clear objectives and you end up with a happy donor making a huge investment. And you won’t waste time in endless cultivation. This year’s Major Gifts Intensive registration closes out next week on Feb 15th, so if you are interested, let us know asap!
Major Gift Fundraising Mistake #1: Rushing the Ask
Asking before a donor is ready to be asked is rushing the ask. Remember that major gifts fundraising is not transactional! It’s all about how the donor “feels” about your work – are they committed, are they enthusiastic? When you make it all about a quick, ask when the donor is unprepared, you will put off your donor and you’ll get a NO!
Mistake #2: Making it All About Money
Remember that your donor supports your cause because they’re passionate about your mission, and dedicated to making the world a better place. When you talk only about money and not about the donor’s commitment, you’ll leave your donor cold. You might get a gift but it’s only a token. Not what the donor could really do.
Mistake #3: Confusing Suspects and Prospects
If you’re going to be successful you have to sort your portfolio into suspects and prospects. Suspects are people who are not yet qualified – which means you don’t know if they have the passion and the capacity to make a major gift. Prospects are those lovely people who are qualified. To be successful, spend your time with well-qualified prospects.
Mistake #4: Messing up the Discovery Process
Discovery is your friend. The Discovery Process happens when you ask your prospective donor questions to find out if they are really interested, have wealth capacity, and are available to be cultivated. You ask questions like, “Would you like to know more? Or, would you like to get more involved? The donor will tell you whether they are interested – or not. And you’ll “discover” whether the person is really a prospect or not.
Bottom Line: Avoid These Major Gifts Fundraising Mistakes!
Don’t feel alone! I’ve certainly made plenty of bloopers. And, I just wish I knew way back when I was a front-line fundraiser, all the things I know now. We’ve all bungled important meetings with key donors. We’ve all missed cues or rushed the Ask or talked too much. It happens every day with key donors all over the world, unfortunately. You can find three more of our top fundraising blunders here. Let these videos guide you and your team to major gifts fundraising success!
Have you ever tried to reconnect with major donors who have lost touch with your organization and your team? Here’s a quick video we posted to Linkedin yesterday, where we discussed success stories from the Major Gifts Intensive. Our guests where sharing stories of how they put their new skills from the Intensive to use. And one of Alexandra Lippert’s colleagues was able to reconnect with a major donor who had drifted away. Now, this particular donor is so engaged that they are actually discussing a million-dollar gift! Can you imagine, bringing a former major donor back to the fold – and then having them ready to discuss a seven-figure gift? This is a success in my book!
I want to personally thank these wonderful fundraising pros who joined me Wednesday on Linkedin: Craig Nason, Development and Communications Director of the Laboratory to Combat Human Trafficking, and Alexandra Lippert, Director of Development for Major Gifts at the University of Waterloo, Canada. Hope you enjoy watching our conversation! The story of Alex’s colleague who was able to bring a donor back to the fold is at the end of this 12 minute video. To share a sneak peak about the video, here are some of the overall skills, key takeaways and successes they achieved in last year’s Major Gift Intensive:
- Permission-based fundraising to open the door to key donor conversations.
- Rigorous prospect management – to determine your top 10 and next 20 prospects, and focus your time and energy at the top.
- Talking less and listening more to your donors, to delve into your donor’s true interests.
- Building a true major gift plan – step by step to build a program with focus and strategy unique to each organization.
- The art of growing a relationship with a donor.
Reconnect Major Donors Who Have Drifted Away
Many organizations have major donors who once were enthusiastic and on board – yet now have disengaged and are not involved at all. We see this happening all the time. For example, you may have five, six, and even seven figure major donors who once were enthusiastic supporters – but they’ve disappeared. Here’s another example: what happened with your former capital campaign donors – particularly the ones who funded your last building campaign? Are you still in touch with them? Where did they go? What about those former loyal board members who gave so much to support your work? It may have been years ago that you connected with them, but their emotional ties may still be strong.
Trying to Reconnect Major Donors
Just about every organization has supporters who were once quite passionate but now have lost touch. In the success story above, our client at Waterloo University had lost contact with a certain former major donor.
Here’s the Process We Recommend to Reconnect Major Donors Who Have Drifted Away
Step One: Try a “Get in touch” phone or zoom call.
If you have a donor who has not been engaged for a while, consider a “get in touch again” approach. Just think, your donor might actually welcome your phone call or email. Especially if they’ve been involved in past years, they might really like to know the latest news. They might like to meet any new leaders who may have joined the team. Or, they might welcome a personal update about an area they used to fund.
Step Two: Try a “Thank You” phone or zoom call.
Many former donors appreciate a “thank you for all you have done for our organization” phone or zoom call. In fact, if you think about it, they probably deserve a thank you call, however, belated. It’s the least you and your team could do – to reach out to people who’ve been so very supportive in the past and acknowledge everything they’ve done. Thank you’s are always in good taste and appropriate. It’s a feel-good moment for both you and your long-lost donor when you reach out (even if it’s been years) to say thank you again.
Step Three: Ask them why they supported your organization – what was it about your work that appealed to them the most?
This is the question that starts to reengage them. Asking them for their Donor Story can be like opening a treasure box. Your long-lost donor probably has deep feelings about your organization’s work. Likewise, they have a strong personal connection to your mission. This is heart-centered work – when you ask the donor to share how they feel about the mission. Ask them what resonated with them about your organization’s impact. Remember, when a donor’s deeply held personal values are really tied in with your organization’s work in the world, they will talk and talk about it. We advise our clients to simply let them talk! You open up a whole new world when your donor shares their personal thoughts and feelings. Here’s when they often start saying, “How can I help?”
Step Four: Ask them if they’d like the next step – a personal update on what’s happening now.
- Would they like to get involved again?
- Would they like to meet the new leadership?
- See the new initiatives or programs that are being launched?
- Would they like a personal tour?
This is when they become re-engaged. Remember, you are using permission – you are asking them if they’d like this or that. Using permission allows the donor to feel like they are in charge – they never feel pushed or like they are getting a pitch.
Step Five: Invite them to get involved. But use permission.
Consider using these questions: “Have you ever thought about getting more involved?” “Would you like to know how you can help?” “Would you like to know more about your favorite program and its current challenges?” When your formerly disconnected donor says “YES!” then you can literally move to a Gift Conversation.
Bottom Line: Reconnect Major Donors Who’ve Drifted Away
This approach may sound simple. But it’s deliberate, strategic, and utterly donor-centered. You focus on the donor, showing appreciation, listening, and sharing impact. This is how you rekindle a fire in your donor’s heart – and then the magic door to a wonderful gift opens. You end up with new resources to fund your mission, a happy donor, and a renewed relationship with a passionate supporter.
Are you and your team ready for a prosperous and productive year? And, most importantly, are you all planning for wonderfully generous major gifts to flow into your organization?
We think this year will be an interesting year for major gifts fundraising. With the uncertain economy, we’ve even heard that some fundraising pros are not sure about meeting their fundraising goals this year.
That means you need to organize and focus carefully to be successful. You need to be systematic to make the most of your valuable time and energy – while raising the money your institution needs.
There may be roadblocks keeping you and your team from reaching your true major gift potential. These success principles will guide you through any economy, to profitable success – for you, your organization, and your mission.
Here are the top three major gifts it \\success principles that we teach. You need these elements working together in order to be successful in raising major gifts in good times and also in volatile times:
There’s no way around it. There are specific steps you can take to move quickly, find the right high-net-worth donors who really care, have direct conversations with them, and then close gifts.
1. Closing major gifts takes know-how and training.
It can be done, and it’s done every day.
However, many fundraisers tell us that they are unsure exactly how to approach donors. Even more, they feel awkward having conversations with prospects. Many say they feel lost when they try to identify the right prospects to focus on. Worst of all, they feel alone and overwhelmed.
Your team can learn all the analytical and soft skills they need to be successful major gift fundraisers. They don’t have to guess their way along.
We can teach them advanced conversation and discovery skills to help them feel comfortable with donors. Every fundraising professional needs to learn how to hold a conversation that lights the fire in a donor prospect and moves them to a gift.
Your team can learn how to listen for a donor’s personal values, passions and interests. And how to take the next steps to move a donor closer to a gift. And we gently push them out the door to go visit their prospects. :)
Your team also needs to understand data analysis. How do you keep up with and sort through all the information they learn about their donors? Most of all, they need to know how to put it to use to predict major gift outcomes.
We believe strongly that working smarter, not harder, helps busy fundraisers raise more money. Knowing how to put your data to work for your leads to success.
2. Successful major gift fundraising takes a team.
The smartest professionals don’t try to go it alone. Silos in major gifts fundraising never work well. It’s essential to have other people involved in helping in the major gift effort.
The team members don’t need to be out there soliciting, but they DO have to help identify prospects and help think through strategies to reach and nurture donor relationships. We find that you can be much more creative in coming up with ideas to cultivate donors when you are brainstorming with a team.
In smaller organizations with limited development resources, the ED or CEO often steps in to help lead the fundraising effort, often aided by a staff member and/or a board volunteer.
You would not believe the successes we have seen with this type of smaller team. Two of our million-dollar gifts came in in the Major Gifts Intensive when the ED called on one of their top donors. The Executive Director knew the questions to ask – and, because of our coaching, they knew how to create the setting for the donor to offer a 7-figure gift. No kidding.
If you are in a small organization, know that you will never be super successful in major gifts fundraising with only one dedicated person. You should never be alone in this effort.
In the Major Gifts Intensive, we ask for a full team of at least four people to register together. It’s best when a group of people from one organization takes the program together. That way, everyone learns the same systems, skills, vocabulary, and approaches – and can reinforce each other.
3. Successful major gift fundraising takes a solid system.
Raising money from major donors is not rocket science, but it takes a very carefully organized structure. As we’ve said many times, you will never be successful without a structure – you’ll be just shooting from the hip.
Systems are everything when it comes to identifying and managing prospects. You need a great rating system to measure your prospects’ potential. In addition, you can use Wealth Screening or even AI to determine who your most likely prospects are.
We’ve written about prospect management systems that are the basis for managing your pipeline, workflow, priorities, and who you plan to see when.
And remember, it’s your prospect management system that lets you and your team know what the potential cash flow looks like – and everyone is interested in that!
The Major Gifts Intensive will help you implement all these success principles.
We can help you with skills training, help you set up the systems that will work for you and your organization, and introduce major gifts success principles to your entire board and management team.
Our goal is to help you lay down the infrastructure, systems, and thinking inside your organization that will take hold permanently. We want your organization to enjoy major gift success not just this year but for many years to come.
Every organization can raise much more IF you seriously tackle major gift fundraising. We are here to help and support you. Check out the Major Gifts Intensive here, and send us a Letter of Interest if you’d like.
Registration closes on Feb.15th. Make sure you register soon, as space is limited and we are filling up fast.
We’ll hop on the phone with you and decide if this program is right for you and your team. It may not be for you. But then, it may be just the thing that will help you and your team catapult your organization to financial security!
Let’s make the upcoming year awesome and close many major gifts for you and your cause!
With the economic environment so murky these days, we usually ask these donors how they are feeling about giving in today’s economy.
What Will Trigger Mega Donors to Unlock Early Capital Campaign Gifts?
This is the question that many nonprofit leaders ask – over and over. For every capital campaign that we advise – this is often a huge question hanging in the air.
If you want to take a deep dive into this question, sign up to watch the replay of our open webinar, How to Jumpstart Your Capital Campaign and Achieve Early Success Today.
Do you know where the lead gifts for your next capital campaign will be coming from? That’s the first question that I often ask: How close are you to the 7 and 8-figure donors on your prospect list?
Why do we focus on these mega gifts and high-net-worth donors?
Because it’s the largest, early capital campaign gifts that are often the most important. These are the gifts that set the pace for other gifts that follow. They set a giving standard that can inspire other donors to step forward.
Even more, a very large gift from a well-known supporter helps to build confidence in an institution’s campaign. Another reason these lead gifts are important is that the gift can trigger interest from similar philanthropists, and even open doors to new donor relationships.
So, focusing on these early, lead gifts is one of the most important, most strategic activities of early campaign planning.
What does it really take to trigger early capital campaign gifts from high-net-worth donors?
There are several factors that come together to trigger an early, substantial capital campaign commitment. Among these, one of the most important causes is the magic ingredient of Influence.
What do we mean by Influence?
We want to know who can influence the donor. Who on our team or in our inside circle knows them?
Most importantly, who do we know or have access to, who CAN influence the donor?
What (or who) will incline and influence the donor to think kindly about our project – among all the other causes they like to support? What will help us rise to the top of the donor’s radar screen, so to speak?
We are trying to weave a web of influence to get the right people in the room at the right time. For example, if we can secure the support of one key influencer in a community, then that person can encourage several other people to support us.
Why is Influence so important?
It often boils down to a matter of trust. For example, does the donor trust the people running the organization?
Many gurus in the past (check out “Asking” by Jerry Panas) have found that mega-donors will not give unless they know, trust and even like the organization’s leaders.
That means that board members matter.
If you are planning a capital campaign, you want to build your board with people who have excellent networks in the philanthropic community.
In addition, you want them to be trusted by major donors in your community.
Best of all, if you have board members who are major donors themselves, they can help open doors to other philanthropists.
Laying out an Influence Strategy to unlock early capital campaign gifts.
It’s like assembling the pieces of the puzzle. Who needs to be involved, and when, in order to influence a very special lead donor?
Here’s a case in point: For some of our capital campaigns around the country, we’ve been able to secure the help (and endorsement) of a former state governor.
The plan to get in front of the governor was laborious and exacting. We had to have the right person call the former governor and ask them to make a key phone call. The retired governor understood how important influence can be to secure an important supporter.
An Influence Strategy is a step-by-step process.
Our clients often have many calls with other people before they ever approach a lead donor.
These were advice visits and calls, brainstorming the appropriate process – who, what, when and where? In what order? Who calls whom first?
Working through Board members.
Often, we will have advice visits with key board members, bringing them a specially curated short prospect list for review and discussion.
What I mean by a curated list, is that we select about 5-10 specific prospects whom we think the board member can help with.
So the short prospect list is customized specifically for each board member, usually with the names of donors who may be in the board member’s sphere of influence.
Bottom line: Unlock Early Capital Campaign Gifts
It takes a lot of strategy to close early capital campaign gifts. An Influence Strategy can help secure the support of your mega leadership donors.
As always, it is a pleasure to share our weekly insights with you as we cover important fundraising strategies. If your organization is planning a capital campaign or expanding your major gifts program – we can help. Send an email to coaching@gailperry.com if you’d like to schedule a free strategy call with us.
Are you familiar with that feeling of endless cultivation with a donor? Let me tell you a story:
Over the past nine months, fundraiser Kim Washington has been diligently cultivating her #1 donor, Olive Robinson.
Kim has zoom coffees with Olive. They have lunch. Even more, Kim makes sure Olive has regular email and phone contact and keeps her informed all the time.
In the back of Kim’s mind, she keeps wondering. “Is Olive ready for a gift conversation? Have we warmed her up enough for an ask? It feels like I’m stuck in endless cultivation.”
Bad News – The Donor Slips Away
One morning over coffee, Kim scrolls through her phone reading the local news. . . and mulling about her next contact with Olive.
“Oh no!” Kim is aghast.
There, in the news, is a gift announcement from another nonprofit where Olive has just made a $2 million gift, in memory of her husband.
Alas. There goes Kim’s hoped-for major gift. Her donor slipped away. How could it be that Olive, who was so interested in Kim’s organization, would surprise everyone with a gift to that other organization?
Why Does Your #1 Prospect Suddenly Disappoint You?
Here is why this happens fairly often in the world of philanthropy. It’s because the fundraiser gets stuck in “cultivation” and does not bring up the topic of a gift.
In reality, most donors do not fit into a clear stage in the donor journey. You can’t pigeonhole them.
We fundraisers limit ourselves by how we define these stages.
Some donors may be willing and eager to make a major gift now, but fundraisers miss the signals, because they are defining the donor in a box.
Here’s how to move the donor from an endless round of feel-good conversations over into a discussion about their potential support.
Escape Endless Cultivation – Move from Discovery to a Gift Conversation in 15 Minutes
At Gail Perry Group, we are coaching our clients in a new approach with donors – one that helps to identify those who want to help with a gift right now.
And let me just say that our clients are seeing remarkable results with this approach. Donors are coming forward early in the donor journey and wanting to make a gift right now.
We have found that we can literally move a donor from a series of discovery questions – right into a gift conversation.
Here’s an example of a typical conversation flow:
Question One: “I’d love to know more about how you came to be a donor.“
When you are able to get your donor to share their Donor Story, you can really open the floodgates. You’ll find your donor probably has a deeply personal reason for supporting your work – something that resonates with their personal values of what is important in life.
This is a powerful question to ask. Your job as a fundraiser is to sit tight, and perhaps say, “Tell me more.”
Question Two: “I know you’ve been supporting our work for a long time. May I ask, what kind of impact do you feel that you are making through your giving?”
By asking the donor to describe their feelings, you are helping the donor literally talk themselves into the idea of giving more.
Even more, your donor will tell you what you need to know at this stage.
Question Three: “I can see that you are deeply committed to this work. May I ask, have you ever thought about doing something even bigger?”
With this question, you politely move directly into a Gift Conversation.
Now, you are using permission to place the issue squarely on the table with the donor. And remember – they are engaged, active, excited, and sharing more and more!
Your donor just may say, “Wow, I never thought about that. And yes, I might actually like to make a bigger impact. Let’s talk about it!”
Bottom Line: Don’t Get Stuck in Endless Cultivation
Here is the hard truth – don’t let yourself get stuck in endless chit-chat with your donor.
Instead, ask them why they give. Ask them how much they care. Ask if they’d like to get more engaged and make an even bigger impact.
As always, it is a pleasure to share our weekly insights with you as we cover important fundraising strategies.
If your organization is planning a capital campaign or launching a major gifts program – we can help. Send an email to coaching@gailperry.com if you’d like to schedule a free strategy call with us.
Has your team thought about getting set up for accepting cryptocurrency gifts? Have you wondered if it is really worth the bother?
We weren’t sure, either. All this cryptocurrency talk was too speculative for us.
That is, until we chatted with Ariel Rogers, the Executive Director of Friends of Bonobos, and a former member of our Major Gift Intensive cohort. (In case you have not heard of bonobos, they are a type of ape, and are our closest genetic relatives.)
What we found out.
Ariel and her team raise money and awareness to help save endangered bonobos in Africa. After one of her donors suggested they take cryptocurrency gifts and offered to help and donate, she decided to do some research.
Ariel found The Giving Block (we wrote about them three weeks ago), an organization that helps nonprofits accept cryptocurrency donations. After asking her donor for advice, and including them in the decision, Ariel’s team made the leap. They registered with The Giving Block, got set up to accept cryptocurrency gifts and immediately that same donor donated $10,000.
$90,000 in less than two weeks.
Not only did her donor promptly come through with a $10k gift, but an NFT community also gave them $77k shortly after they registered with The Giving Block. Plus, even more money flowed in.
A major gift from an NFT Community.
Apparently, there is a crypto group that focuses on apes. These enthusiasts hang out together on social media, mostly twitter and instagram, sharing their interest in all types of apes. As part of their activities, they decided to make some gifts to charities – and Friends of Bonobos made their list.
Using social media to connect to donors.
Ariel and her team constantly focus on building awareness on social networks. For this reason, they make twitter, instagram and facebook a priority, and have built a social reach from 10k to over 120k followers in only two years.
So this is how this major donor crypto group found out about Friends of Bonobos.
Ariel’s team is out there every day on social – sharing stories of their mission, their impact and the cute, but endangered Bonobos. They are chatting with other enthusiasts and building relationships with potential donors.
Why social reach is so important.
Get this from a fundraising standpoint: At Friends of Bonobos, their team sees social initiatives as a way to identify new friends for their cause. In other words, social serves as the first step in the fundraising funnel.
For this reason, the building of awareness is a serious business. Social media covers the functions of what traditional marketing used to do, and it works.
From social followers to becoming donors.
It’s clear that you can transition your social followers into donors. In the case of Friends of Bonobos – all social followers are invited to share their email and sign up for the newsletter.
Once followers start receiving the newsletter, they may become more and more interested and invested in the cause. And as you might expect, interest and investment often lead to donations.
And chances are, some of these highly active followers might be crypto investors.
Connecting with crypto donors via social media.
When we interviewed Pat Duffy, co-founder of The Giving Block, last June, he described a general profile of people who are most vigorously investing (and donating) in cryptocurrency:
These investors are usually under 40 years old, 84% are male, they are highly financially literate and they are very active on social networks.
So, it makes perfect sense that you need a strong social media presence if you want to position yourself in front of wealthy young crypto donors. They are clearly out there, and the cryptocurrency market is only growing.
Bottom Line: Research cryptocurrency gifts – one nonprofit says it is definitely worth it.
As Ariel said – she did her research, she had a little help, and she took the leap for her organization. And it paid off – $90k and counting.
Want to start accepting crypto donations? Gail Perry Group highly recommends The Giving Block. Find out more here.
We are always looking for ways to help nonprofits succeed in their fundraising efforts. Make sure you do your due diligence before saying “no” to accepting crypto donations. It might just be worth it.
As always, it is a pleasure to share our weekly news and insights with you as we cover new fundraising trends.
If your organization is planning a capital campaign or launching a major gifts program – we can help. Send an email to coaching@gailperry.com if you’d like to schedule a free strategy call with us.
