The Monopoly Mentality — Why It Will Kill Major Gifts
I often run into fundraisers who somehow get it in their heads that "their" donors only support "their" organizations. Now, I know if they were being honest and really thought about it, they would admit this is not true, but emotionally they act like their donors couldn't possibly support other causes.
This is a problem. I call it the monopoly mentality. No, not the game Monopoly, but the business paradigm that you're the only game in town and you have no competition.
Why is this a problem? Because it makes you lazy, and you take advantage of a donor's good will and passion for your cause.
Your mind-set should instead be, "There are thousands of organizations out there that would love to have my donor support their causes ... what am I going to do today to win the heart of my donor?"
If you have that mind-set, you will be awesome. And the donors on your caseload will feel like they are actually making a difference in the world through the work of your organization. This is the space you want to be in with every donor on your caseload.
So, how do you do this? Are you ready? Are you really ready? I hope so, because it demands a lot of passion, creativity and hard work on your part to pull it off.
- Find out everything you can about the donors on your caseload. Yes, every one of them. Find out where they live, shop, work, breathe. I'm not talking about stalking; I'm talking about empathy. What? Yes, you must empathize with your donors. Empathy really is about being able to walk in others' shoes and understand where they are coming from. It's about letting go of judgments and prejudices, and being open to who they are.
- Be proactive in communicating information. Major donors want to know what is happening at your organization before the general public. Always keep that in mind. If the president or executive director resigns, you get on the phone right away to discuss it. If an incredible discovery happens, your donors should know before the press does. You get what I'm talking about. There are horror stories out there where major donors are left out of the communication loop, and there have not been pretty results. Always be vigilant about this.
- Surprise your donors. Think about this from your own personal standpoint. I can almost bet you that the last great customer service story you had involves a situation in which you have been surprised by the service. For example, you go to your favorite restaurant and the chef comes out and makes you a special dish, on the house, "just because you are such a great customer." You think you're going back again and again? Of course you are. Same concept with your donors. Figure out what they are interested in, and provide them some inside information. Clip out an article they would enjoy, and mail it to them. No, not email. Actually cut it out and mail it to them. What an impression. Your donors are human; we all love to be surprised and taken care of.
OK, these are the three I'll leave you with today. Remember, everyone wants the donors on your caseload. What are you going to do to stand out?
If you like baseball, tennis, golf, Gregorian chant, jazz, rock, good wine and deep conversation, then you’ll like to hang out with Jeff.
If you are passionate about fundraising, Jeff will inspire you to be a true “broker of love” for your donors, helping you bring together a donor’s desire to change the world and the world’s greatest needs. Jeff believes that if nonprofits truly want to grow and obtain more net revenue for their mission, it will come through creating, building and successfully managing major-gift programs. The Connections blog will give you inspiration and practical advice to help you succeed. Jeff has more than 25 years of nonprofit fundraising experience and is senior partner of the Veritus Group.