subject: Donor Cultivation: Four Steps To Turning Experiences Into Relationships [print this page] They came. They participated and they partied. They even listened. And they put some cash in your coffers, enabling you to take one more step toward achieving your strategic goals.
But then they left. And you have to wonder, when will you see them again? Will it be another year?
Stop wondering. Donor cultivation after the event is every bit as important to your organization as the event itself. No matter how grand and successful your big effort, fundraising is about developing relationshipsthe more loyal, consistent and long-term the better. Think customer loyalty, rather than the annual sale and you get the idea. Its a cornerstone of every successful commercial and consumer brand in the marketplaceand its not achieved through follow-up thank you notes and mark-your-calendar reminders.
We have outlined four critical steps to a successful post-event donor cultivation strategy. Heres an overview:
Step 1: Identify top fundraisers and donorsDevelop profiles that address basic, but critical question: Who are they? Why did they participate? Did they have a team? Where are they from? How long have they been involved with your cause? What has their fundraising/donation activity looked like from year to year? This is the data collection phase where you should get to intimately know those who turned out to be your most favored guests.
Step 2: Evaluate gift portfoliosHow did someone who made your Step 1 list get there? What kind of gifts do you see in their portfolio? Do they tend to give a large number of small gifts, or vice versa? When do they tend to give and how much? Are their fundraising activities/donations clustered around specific dates? This is the analysis phase that will allow you to begin to make your information actionable.
Step 3: Turn information in insightNow its time to determine outreach opportunity areas based on participant and donor information and evaluation. Develop and prioritize a plan based on criteria ranging form the strength of their connection to your cause, fundraising history, significant dates and habits, and other items that will allow you to enhance your relationship. Consider running WealthEngine on high givers to get an even clearer picture of significant opportunities.
Step 4: Turn insight into actionOnce you develop your approach, implement it (and make sure to treat your best fundraisers like major donors). Be sure to use a high-touch communication style: Call your guests, thank them, take them out to lunch or coffee. Find out what motivates them at a personal level and talk about the future. And dont be afraid to get visionary with them. They care about your cause. Give them motivation to get more involved and help you connect the dots that will allow you to attain your strategic objectives.
Does your organization have a post-event approach? What works and doesnt work in your efforts to turn experiences into relationships? Please share your thoughts, below.
