Fundraising tools to get you through the winter
December 2020
With big events being postponed and the rule of six looking set to stay, organisations may be panicking about getting through the winter and meeting their income targets for the year. Here are our tips for making use of that time and boosting your fundraising in the process.
Use this time to get your data protection processes up to date for major gift fundraising
At this stage, you’re well aware that a small number of donors give the biggest gifts, yet we’re still seeing organisations who baulk in the face of major gift fundraising because they don’t know where to start. We recommend starting with your processes. The best way to show your donors respect is by respecting their data. Do this by deciding how you will use their data while having the least impact on them, define your grounds for data processing and take steps to mitigate risks. Fully describe your plans in your privacy notice and let your supporters know about any changes, giving them the option to opt-out of any processing you plan to do.
Lay the major gift groundwork by carrying out a wealth screening or some prospect research
Once your data protection processes are in place, decide if and who you are going to wealth screen. You should only screen supporters who have been informed of data processing and who have had a chance to opt-out. These might include donors (past and present), members, volunteers, campaigners, alumni, and current or past parents. Once you get your wealth screening results back, categorise the supporters by those who need further research and those that you can immediately allocate for action. Assess people using your organisational knowledge (eg. giving history etc) and objective data you’ve gained (wealth etc). Make sure all internal stakeholders are aware of the results – There is something for most teams including major donors, high and mid-value, corporate, trusts, legacies. Arrange meetings with your individual teams to understand where this might fit within their priorities and to map any potential overlap.
If your major gift strategy has been flagging or you’re not making the progress you thought you would with your existing prospect pipeline, you might be chasing false leads. Undertaking some prospect research will help you get the most out of your existing database, and identify new people with the capacity and affinity to give a major gift to your organisation. We’re yet to meet an organisation that hasn’t secured a gift after putting some prospect research to good use.
With over 25 years’ experience working with the not-for-profit sector, our team provides research, wealth screening, consultancy, regulatory compliance and training support to charities of all sizes, making fundraising more effective and successful. We'll help you learn more about the people who support your cause, give you a detailed insight into your best prospects and identify new ones, whether they be wealthy individuals, grant-makers or institutional funders.
In the coming months, we’ll be running free webinars on data protection and major gifts, due diligence and gift acceptance, and getting your fundraising back on track during a crisis. To be the first to know about our free online training join our mailing list and follow us on social media.
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