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Planning a Fundraising Strategy? Here’s What to Think About

Before you start targeting donors, you need to have a concrete fundraising strategy to keep you focused on your call to action and monetary goals. If you’ve never put a fundraising strategy together before, then it can seem a bit of a daunting task. Here’s a handy little guide to break down the task and get you thinking about what you want to include in your fundraising strategy:

1) Why do you need the money?

This is the million-dollar question from which all other considerations stem! You need to be able to concisely communicate your cause in the most passionate and clear terms to get your donors to part with their cash. Think in big, utopian terms i.e. why does your charity exist in the first place, and then drill the figures down to more specific needs. For example, how much money is your charity looking for each year and for what purposes? What are your current project running costs? What ambitions do you have for new projects and services?

2) How are you going to get the money?

This is where you think about what groups of people and organisations you are going to target with your fundraising. You may already have an established base of supporters, in which case you take these into account. You can use a charity CRM to design a retention program for these existing donors. You may also wish to expand your fundraising activities to new areas. For instance, you may wish to initiate a corporate fundraising campaign that targets local businesses, or reach out to high net worth individuals in your area. Look at the different fundraising options available for you. If you’ve tried different approaches before, make a note of the returns that you’ve received, what has worked and what can be improved on.

3) What support is available?

A fundraising strategy isn’t simply about your projects and your donors. There are also plenty of third sector institutes, organisers, networking groups and knowledgeable individuals from which you can draw advice and knowledge. If you are lucky, you may have a board of trustees with a good understanding of your charity and fundraising in general. You can also scope out one of the many networking events organised by the Institute of Fundraising (IoF). Some organisations also seek the professional input of a fundraising consultancy at this stage, although this is by no means obligatory.

4) Get some feedback!

When you’ve done your research and are clear on your goals, sources of funding and the professional help you need, get busy writing your plan. Once it’s completed in draft form, get input from as many people as possible. Seek the opinion of colleagues, volunteers, loyal donors, supporters, suppliers and partner organisations. Take the opinion seriously, as the more angles you get on your fundraising strategy, the more flexible and ultimately the more successful it is likely to be.

A charity CRM software package is the best way to manage a solid fundraising strategy, and see it develop into concrete results for your organisation. Our SubscriberCRM offers a contact relationship management solution ideal for charities of all sizes. It allows you to manage every aspect of your fundraising strategy. Send an email to our customer service team to find out more, we will look forward to speaking with you.