At the Steier Group, we define a capital campaign as an extraordinary fundraising initiative that requires giving beyond a donor’s annual support. Capital campaigns require large gift requests, requests that can sometimes elicit a collective gulp on both sides of the table. However, there are ways to lay the groundwork for a big ask that make it a rewarding experience for all.
Well before a capital campaign begins, it’s important for organizations to find ways to engage non-donors and encourage regular donors to increase their giving. Consistent donors and those whose giving has steadily increased are demonstrating their loyalty to the organization with their support. When identifying prospective major donors to a capital campaign, we look for engaged and loyal community members like these.
Generally, 80% (or more) of funds raised in capital campaigns will come from 20% (or less) of donors. We help our clients identify the donors who have the most fundraising potential and will strategize ways to prepare them for a large gift request.
Here are five ways to prepare yourself and donors for the big ask:
Get to know the donor
How well do you know your donors? Do your research. What drives them to support your organization? Are there aspects of your mission that are particularly appealing to them? What are their philanthropic priorities beyond your organization? What is their capacity to give?
Ask the donor to be a part of the process
There’s an adage in fundraising – “Ask for money, you’ll get advice. Ask for advice, you’ll get money.” By engaging donors early in the campaign planning process, they will feel more invested in its outcome. Ask potential donors for input on your proposed plans. Tapping into their expertise will make the project better in the long run and inspire their support.
Invite the donor for a site visit
Seeing is believing. Doing a capital campaign to renovate a building? Be sure to offer tours of your facility. Are your campaign goals focused on enhancing the mission? Give your donors an opportunity to see the mission in action and meet the people impacted by their generosity.
Steward the relationship
The best fundraisers develop genuine connections with their donors. They get to know their families, their life’s challenges and successes. They do this by regularly engaging with them on a personal level and finding ways to connect with them that do not involve an ask. Reach out on their birthday, be sure they’re the first to know about exciting developments at your organization and keep them apprised of your plans. Be creative – stewardship puts the fun in fundraising.
Customize the request
Your due diligence will help you tailor a gift request for each of your top donors. Explain the impact of their gift based on their philanthropic priorities. If appropriate, suggest a naming opportunity. This culmination of your efforts will put you and the donor at ease, and make the request feel like a natural progression of the relationship.
By doing your homework, building a meaningful relationship with your donors, and regularly connecting them to your mission, you can inspire meaningful support from your donors.
If you have any questions about making a big ask of donors or how the Steier Group prepares our partners for these conversations, please contact me.
