It’s hard to believe the final quarter of the year is almost upon us. Busy fundraisers know that when you’re caught up in the day-to-day, even the best-laid plans can fall by the wayside. These five tips will help you realign your fundraising strategy and get it ready for the end of the year.
Use data to prioritise your prospects
Use data to rank your prospects and identify the donors most likely to give before the end of the year. We like to ask, “Are they hot or not?” Warm, hot and red hot prospects should take priority. These are prospects that, given the right treatment, you think they’ll give (warm), you have met, they’re interested, and they can make a significant gift (hot), and potential donors whose behaviour indicates a major gift is likely soon (red hot).
If you’ve prioritised your prospects and the pool of hot leads is dwindling, carry out some research to identify new warm prospects.
Identify lapsed donors
Another technique for growing your prospect pool before the end of the year is to identify lapsed donors sitting on your database. What was the reason they fell off your radar? It may just be a lapse in communication, and they’d be happy to engage with you again.
If their interests are still aligned with your cause, find ways to re-engage them. If not, carry out some prospect research to replace them.
Align your fundraising communications across your organisation
Audit your recent communications across your website, appeals, social media, newsletters and donor updates. Are they consistent in messaging and calls to action? Use the donor data you have to shape your messaging. Different prospects will care about different aspects of your work; make sure their interests are reflected in the communications they receive.
Develop a shared messaging framework with key themes, impact statements, and preferred language. Share it with everyone who communicates externally with donors and stakeholders.
Audit your donor database and fill in any gaps
Identify missing or incomplete data and cross-check against publicly available information from sources, like LinkedIn and Companies House, to fill in gaps. Make sure each donor has their giving history attached to their record and add any known indicators of wealth, such as new ventures, promotions or retirements.
As you work through your database, flag any high-priority prospects for follow-up – these might need more research, a stewardship touchpoint, or a cultivation meeting. While you’re there, double-check you have the correct protocols in place for carrying out further research on your prospects, ie that your privacy notice is clear and has been communicated to them. It’s best practice fundraising and can help you build strong donor relationships based on trust.
Review your table of gifts
Make sure your table of gifts still reflects your overall target. If your fundraising goal or prospect pool has changed, adjust it accordingly. Check each prospect’s assigned ask amount against your latest data on their giving history, capacity and current relationship with your organisation. Personalise your asks based on each prospect’s potential and engagement, rather than using a one-size-fits-all figure.
At Prospecting for Gold, we specialise in research, wealth screening, consultancy and regulatory compliance, making fundraising more effective and successful.
Successful major gift fundraising isn’t just about securing a donation. It’s about building relationships, understanding people’s motivations and aligning their interests with your cause.
Our wealth screening and data summary report is free when we screen 2,000 or more of your UK supporters. Ready to transform your major gift fundraising? Contact us today.