Through the implementation and analysis of hundreds of capital fundraising campaigns, my company has identified several fundamental principles that are keys for success. We believe adherence to the seven enunciated principles below will be critical to producing optimal campaign results.
1. Strong leadership is vital
Perhaps the greatest determinant to success in any campaign is the quality of its leadership. It’s essential that the area’s top business and community leaders play active roles in the campaign and make exemplary financial commitments early in the campaign process. Leadership by example is the most effective kind. The influence of strong leaders and the example of pacesetting lead pledges can then be leveraged throughout the prospect base. When people of stature make strong commitments and provide enthusiastic leadership, others follow.
2. Leadership recruitment must be done strategically
Leadership recruitment should be done in person by the campaign director, accompanied by appropriate volunteers. Since making an exemplary pledge should be a prerequisite for serving in a campaign leadership position, you should solicit and recruit the leader simultaneously. Therefore, you shouldn’t formally recruit leaders until after you’ve developed appropriate presentation and solicitation materials, and completed prospect evaluations to determine appropriate ask amounts. Recruitment should be done in a strategic order with great care to place the right people in the right positions at the right investment levels.
3. In-person solicitation is most effective
Visit prospects in person, present them a strong, personalized rationale for support, and ask them to consider substantial commitments. The campaign director should attend every solicitation meeting unless strategic considerations dictate otherwise. Volunteer leaders should accompany the campaign director on major solicitations, as determined by consensus during campaign leadership team meetings. Telephone, mail or electronic solicitations should only be utilized at the end of the campaign, if necessary, to broaden the base and invite the rest of the community to participate.
4. Ask prospects for the right amount
Major capital campaigns do not succeed by taking up a collection or generically inviting prospects to chip in whatever they can. Prospects should be targeted and solicited for specific amounts determined through a deliberative process, taking into account relative financial capacity, interest and benefit, and ensuring a semblance of proportionality among prospective investors. Seek to raise sights high and challenge prospects to step up significantly. By suggesting specific and well-considered investment amounts to each prospect, and supporting each ask with personalized rationale, you can guide prospects to participate at levels necessary to ensure overall success.
5. Top pledges have disproportionate impact on campaign success
Experience indicates that about half of the money raised will come from the top 10 or so investments. Therefore, take great care to maximize these top-level commitments. In order to do so, there should be:
- a strong and persuasive case statement,
- pertinent background research,
- a customized return-on-investment analysis,
- a personalized written investment proposal,
- an appropriate evaluation amount,
- extensive strategic deliberation among campaign leaders,
- advance cultivation efforts,
- a sound solicitation plan,
- the right volunteer influence and involvement, and
- a professional solicitation.
Take the time and make the effort to secure the best possible high-end commitments. The greatest upside and downside potential to any campaign is typically realized through the results of the largest solicitations.
6. Carefully build a strong foundation
There is often the temptation to rush out of the gate, pick the low-hanging fruit, cut corners and accelerate the timeline. Resist this temptation. Since the key elements of a successful campaign — strong program and case, appropriate evaluations, the right leadership team, exemplary lead investments — are developed in the first half of the campaign (the quiet phase), make sure to do this carefully, methodically, strategically and with a focus on exceptional quality. Speed and quantity are not the appropriate operative dynamics until the second half of the campaign (the public phase), when the base is being broadened and the individual stakes are much smaller. It is perfectly normal for the early months of a campaign to have a slow and deliberate feel to them, and the later months to seem fast-paced and hard-charging. This is prudent and by design.
7. Get to the finish line one step at a time
Successful campaigns are implemented step by step in accordance with sound fundraising principles. The process is tried and true, and the sequencing of activities has a powerful internal logic. Each step positively or negatively impacts subsequent steps. Each step can either be done more quickly than anticipated or take longer than anticipated, depending on numerous, often external variables. While you should work collaboratively to complete each step as quickly as possible, you invite substandard and perhaps disastrous results if you jump ahead of yourself by attempting subsequent steps prematurely. The best way to advance progress at any given time is to focus on successfully completing the immediate task at hand so you can legitimately move to the next step.
Mark Bergethon is a principal with Convergent Nonprofit Solutions.
- Categories:
- Capital Campaigns
As a founding principal of Convergent Nonprofit Solutions, Mark focuses on empowering nonprofits to accomplish more for the communities and constituencies they serve by dramatically increasing their financial resources. He is a leading national expert in funding nonprofit organizations and community initiatives through large fundraising campaigns.
Mark has managed and consulted on fundraising campaigns for a broad array of nonprofits, including schools, community colleges, museums, hospitals, women’s and children’s services, workforce development organizations, associations, arts and culture organizations, Boy Scouts councils, historic theaters, human service organizations, community foundations, YMCAs, animal shelters, hospices, social service nonprofits, community centers, chambers of commerce, and economic development corporations.