Making the Ask The Whole Process

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Making the Ask The Whole Process

• WVDO Third Thursday Presentation
• Presenter,
• Jennifer Baumann, CFRE

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Overview of Session

• Welcome
• Inviting investment building a base of donor
  investors
• The development process the steps to effective
  moves management
• Questions and comments

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• Organizations are able to go beyond fundraising
  when they view solicitation as the opportunity to
  invite investment.
• -Kay Sprinkel Grace

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Defining Donor-Investor

• An investor, or a donor-investor, is an
  individual or organization whose financial
  commitment to a nonprofit is supported by a
  belief in their shared values and in the ability
  of the investor and the organization to mutually
  benefit each other and the community.
• Not a quick fix fund raising approach
• Long-term and renewable
• Donor-investors want the knowledge that their
  investment will have the intended results and
  make an impact on the organization and the
  community.

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Inviting Investment in your Organization

• Investment balances the organization and the
  potential donor as equal players in the
  transaction.
• The potential donor knows the organization and is
  familiar with not only its programs, but their
  results.
• The investor relationship is not measured by the
  size of the gift, but by the intensity of the
  connection between the donor and the
  organization.
• Investors require more time and energy from board
  and staff to identify, nurture, and sustain, but
  the long-term benefit is substantial.

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The Development ProcessIdentificationCultivati
onSolicitationStewardship
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Identification

• First step in the development process that helps
  you discover those who may become
  donor-investors.
• Not all donor prospects will become major
  contributors to your organization.
• Stronger the passion for your organization
  greater likelihood for investing in your
  organization.

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Likely Prospects

• Past donors
• Consecutive years
• Larger gifts
• Event and program attendees
• Volunteers
• Board members
• Family/friends/business colleagues of board
  members and volunteers
• Hospital grateful patients
• Education alumni, parents, students
• Other likely prospects?

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Questions to help you further identify donor
prospects

• Does the person have a history of philanthropic
  giving?
• Has the person participated in your organization
  or been impacted by your organization?
• Do the persons interests and passions fit with
  your organizations mission?
• Does the person have a close relationship with
  someone committed to your organizationsuch as a
  board member, volunteer?
• Does this person donate to organizations with
  similar missions?
• Has this persons business been impacted by your
  organization?

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Rating Donor Prospects

• The answers to these questions will help you rate
  the likelihood of this prospect becoming a
  donor-investor to your organization.
• The more questions you can answer yes, the higher
  the prospect rating. Start with those who have
  the highest rating.

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Involving Board Members in Identification

• Silent prospecting an opportunity for
  partnership with your board. Involves providing a
  list of prospects you are wishing to qualify such
  as past donors, parents, members, alumni, other
  constituencies to your board members for
  feedback.
• Also, its an opportunity to uncover
  relationships your board may have with these
  prospects as well as potential new prospects.
• If board member isnt willing to ask for a gift,
  find out how they would like to be involved, such
  as setting the appointment.

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Develop Initial Strategy

• Prioritize identified prospects into three tiers.
  
• Tier Oneclosest to your organization. Know a
  lot about you and a relationship has been built
  with them.
• Tier Twosome information is know about them,
  but a relationship has not been established.
• Tier Threelittle information is known about
  them, perhaps were identified as having capacity
  but not necessarily engaged in your organization.

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Cultivation

• Planning moves into action in this step of the
  development process.
• Building, maintaining, and managing relationships
  that foster confidence and inspire giving.
• Opportunity to introduce potential
  donor-investors to the mission and people of your
  organization.
• Time to uncover donor passions and identify the
  interest/value match for the donor.

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• The cultivation stage provides the opportunity
  to learn more about the donor and for them to
  learn more about your organization with the
  ultimate goal of matching their passions to
  organizational initiatives.
• Inform
• Engage
• Encourage the donor to share information
• Listen find the fit for them in your
  organization

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Ways to cultivate potentialdonor-investors

• Newsletter and other mailings feature donors in
  newsletter
• Event
• Small gathering at organization or board members
  house
• Personal tour or small group tours
• Emails
• Telephone visits just call to say thanks and
  update them
• Volunteer activity or ask to be part of an
  advisory or planning committee
• Lunch/dinner with key constituents in your
  organization ED, faculty, physician,
  researcher, students, program manager, etc.
• Personal note
• Face-to-face visit
• Also, called
  moves.

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Discussion

• What kinds of cultivation activities do you do
  now?
• What are some you can start implementing?
• How do you track the moves progress?
• How much of your time is spent in face-to-face
  visits?

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The face-to-face visit
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Techniques to get the visit

• Email
• Phone call
• Letter plus follow up phone or email
• Volunteer or board member introductions
• Combination of the above
• Which technique have you found to be the
  most effective?

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The letter to get the visit

• Outline of what the letter might look like
• Introduction of who you are (if the board member
  has the relationship invite him/her to write the
  letter)
• Thank them for a recent gift or for their past
  support
• Update them on your organization and/or the
  project in which they supported
• Invite a personal visit

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Example wording for the letter

• Introduction
• I write to you today to introduce myself to you
  as the new development officer at Lewis Clark
  College. A part of my role in the office of
  development is to serve as a liaison for the
  athletics program, including establishing
  stronger ties with our alumni and supporters.

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Example wording for the letter

• I understand you have been a long-time
  contributor to the Pioneer athletics program. We
  greatly appreciate you investing in the future of
  our student-athletes, and knowing of your
  interest I want to share with you some of our
  recent accomplishments

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Example wording for the letter

• Bullet points or paragraph with some updates
• Closing
• These are only a few of the highlights of
  what is going on with Lewis Clark athletics. I
  would be delighted to have the opportunity to
  update you more on our progress, to learn about
  your perceptions of Lewis Clark, and to share
  and exchange ideas that will be beneficial in
  optimizing our athletics program.
• I would be delighted if you could meet with me
  at your convenience and will contact you in the
  coming weeks to follow up on your availability.
  In the meantime, please dont hesitate to contact
  me at 503-768-7909 or baumann_at_lclark.edu.

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The telephone conversation to get the visit

• Friendly introduction/opener
• Build rapport
• State your purpose
• General interest and/or compelling reason why
  they should see you
• Confirm date and time

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Plan the Call First

• Identify your objectives why do you want to see
  them
• Prepare for the call. Review prospect profile
  for
• Giving history
• how much and where have they directed their
  gifts
• Relationships to organization
• Did they attend an event or program
  recently? Do they know a board member?
• Interests employment, academic, etc.

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• Sample Phone Conversation
• One that isnt so easy!
• DO My name is Jennifer Baumann and Im new in
  the development office at Lewis Clark. I hope
  you received the letter that I mailed to you
  recently.
• Donor Yes, I received it. Thank you.
• DO As a new development officer at LC, I would
  love the opportunity to hear about your
  experiences and perceptions of the college and
  also spend some time updating you on your alma
  mater. Do you have some time in the next couple
  of weeks?
• Donor Thank you, but you dont need to visit
  with me. I keep updated through the newsletter.
• DO Wonderful, then, you must have read about our
  new athletic director, Clark. He has been here a
  year now and is very excited about reinvigorating
  athletics at Lewis Clark. I know he would enjoy
  the opportunity to visit with you too. Both the
  president and Clark are very passionate about
  reengaging alumni and establishing stronger ties
  with donors like you. Would you be interested in
  coming to campus to meet Clark?
• Donor I would enjoy hearing from Clark. Let me
  look at my calendar to see when Im available.

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• Not every conversation will be easy.
• Use plausible excuses to learn more about your
  prospect. We will be traveling. We have family
  here then. I volunteer that day. Ask
  questions.
• Trust your intuition.
• Not every one will want to visit.
• Spend your time on those who want to see you.

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You have a face-to-face visit!

• Now what?

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You have an opportunity to build relationships.

• Opening
• Chit chat, focus on their relationship with the
  organization, keep to the purpose of the visit
  and be brief.
• Thank them for their support.
• Involvement
• Ask open ended questions around their values and
  engagement, allow them to talk about themselves
  and their love of their community and their
  interest related to your programs.
• Goal is to uncover their passions and align their
  passions with a specific project/program.
• What are some questions you would ask?
• Ask the Magic question!

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What would you like accomplish with your gift
that would be meaningful to you?
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You have an opportunity to build relationships.

• Updates
• FBQ (features, benefits, questions) about your
  programs, services and impact on the community
  and how your work resonates with the donors
  values
• Close
• Ask for a specific amount, be silent after the
  close, confirm how the gift will be made or what
  follow up is needed if the person needs to think
  about their gift

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How many visits until you ask?

• It depends on how engaged they are with your
  organization and your mission.
• Not uncommon for 3-4 visits or even more to
  result in an ask. Other times they are ready to
  give right away.
• Listen to what they have to say. Listen for key
  indicators they are ready to make a significant
  contribution.
• The visit should feel comfortable and not
  rehearsed. Let them talk. The more they talk
  about what interests them about your organization
  the more you learn about what might be the best
  fit for them. Uncovering passions!
• If it doesnt feel right or you get a sense they
  dont feel ready, dont ask at this visit. Trust
  your intuition.
• If an ask doesnt happen, encourage them to come
  to your organization to see first-hand your
  mission. Keep them engaged and involved. The
  greater the intensity of the connection, the
  greater the likelihood of a larger gift.

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Prospect Ratio is 41

• If you ask four people for money

• Two will say no
• One will give you less
• One will give you what you ask for

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Ladder of Effectiveness

• Strategy Response rate
• Personal Face-to-face 50
• Personal Phone call 25
• Personal letter 10-15
• Phone-a-thon 5
• Direct mail 1
• Special events varies

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Stewardship The Key to Continued Relationships
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The Goal of Good Stewardship is to Maintain the
Relationship

• Stewardship the ongoing relationship with a
  donor based on mutual respect for both the source
  and impact of the gift (Beyond Fundraising,
  Grace, 1997 Second Edition, 2005)
• A key ingredient in effective stewardship is the
  ability to communicate progress towards vision.
• Donor-investors are invested in your
  organization. They want to know how their gift is
  making an impact on your organization. Keep them
  updated.
• Maintain stewardship with long time and generous
  donors, even when their giving is lapsed.
• Dont worry about over thanking them.

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Stewardship Activities

• Involve board members hand written notes from
  board
• Thank-a-thons
• Thank you notes, telephone calls, visits to
  update them
• Tours and opportunities for them to see the
  mission in action
• Newsletters and other written updates
• Donor walls, plaques and public recognition
• Donor recognition events
• Opportunities to meet those they are impacting
  scholarship recipient, etc.
• Does this sound familiar?

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The Development CycleIdentificationCultivation
SolicitationStewardship
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References

• Advancement Resources, LLC
• www.advancementresources.org
• Grace, Kay Sprinkel. Beyond Fundraising New
  Strategies for Nonprofit Inovation and
  Investment. New York Wiley, 2005.

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Questions and CommentsThank you!