With the not-for-profit sector currently in crisis mode, you’d be forgiven for letting your donors’ needs slip from the forefront of your mind. However, these are the supporters who are going to help your organisation survive the pandemic. Here’s what they need from you and how you can give it to them.
1. A well-researched request
Your donors are busy, and the last thing they need is an ask from your organisation that doesn’t match their interests or is pitched at the wrong level. The risk of making the wrong approach can be minimised with the help of good research. If you’re looking for new major donors to support your cause, we often recommend an organisation start with a wealth screening of their supporter database. This will not only identify who among your current supporters can become a major donor, but also which of your supporters are known philanthropists or business leaders. Undertaken in line with GDPR requirements, wealth screening is completely legal. It can transform your prospect pipeline and open the door to inspiring new major gift opportunities.
You may also need to undertake some more in-depth prospect research. This will help you understand more about a potential major donor’s affinity with your cause, their capacity to make a major gift and give insight into the best way to approach and cultivate them.
2. The knowledge that their data is safe with you
Respecting your donors means respecting their data. To make sure your organisation is carrying out best practice, undertake a Data Protection Impact Assessment (DPIA) on how you use personal data in your major gifts programme. A DPIA is an assessment of the ways your organisation uses personal data for specific activities. It should describe the purpose for which you collect the data and look at information flows e.g how data will be obtained, used and retained. It should also identify the privacy risks and evaluate solutions to those risks. Once the recommended actions are agreed upon, they should be incorporated into the overall project plan.
After you’ve undertaken a DPIA and updated your privacy policy, let your supporters know about changes and give them time to opt-out of any data processing.
3. Acknowledgement and impact
Although thanking donors is standard practice, the pressures of the global pandemic may mean that it falls by the wayside. Try to have a system in place for sending out donor acknowledgements. Streamlining the process means it will be less likely to be forgotten, or if it is, someone will spot it.
The work your cause does is what your donors are most interested in hearing about. Compile case studies told by the people you’ve helped and share these materials with your donors. Nothing makes your organisation more appealing to new prospects than seeing the impact their contribution can have.
If your organisation is ready for research-based major gift fundraising, get in touch with us by emailing info@prospectingforgold.co.uk or calling us on 01491 577311.