Blog

Relationship Building with Major Donors

Is it really true that the rich are getting richer? Well, if you look at the most recent Rich List, you’ll see that the flow of money continues to be in favour of the few. But with new fundraising regulations that threaten to place the retention and recruitment of donors in jeopardy, how possible is it to attract the support of that elusive 5%? The good news is that building quality relationships with major donors is definitely within your reach.

A CRM Platform can go a long way to helping you manage your donor relationships and securing the large donations your charity needs. However, the success of your efforts will depend on the factors below.

Be Realistic

Likely the most valuable piece of advice that we can give is to be realistic about your goals to build your major donor relationships. Accomplishing this goal successfully will take time. How much time? Anywhere from one and a half to two years in some cases, and that’s just the time it will take to get initial results. After that, it will take commitment, resolve, perseverance and investment to get the high-level donations and legacies you’re after.

Strength in Small Numbers

It is true that you’ll need to build momentum to catch those big fish. However, you don’t need a large number of potential donors; you just need the right ones. Basically, your ideal candidates will be those who are interested in your cause, and who have the fiscal potential to show their interest through a significant donation. Your organisation will need to be able to put those potential donors directly in touch with a representative they can communicate with.

Have the Right Support

Your organisation must have the right individuals in place who know how to get donations from major donors. Getting those individuals will depend on your organisation’s ability to not only attract, but retain them. At the end of the day, even the best intentions can result in the opposite of your goal if the right brand of people power isn’t there to back it up.

Once these elements are in place, you can begin work on those factors which will increase the probability of donation from major supporters.

Identify the right Individuals

This is where your CRM comes in. Consult the list of donors stored in your CRM and choose prospective donors according to certain criteria. To identify these prospects, look at how long they’ve been a donor, how involved they’ve been in working for your charity, and how financially capable they are of making a significant monetary contribution to your cause.

By reviewing donor data and analysing your reports, you’ll hopefully be able to identify up to 50 individuals who meet the above criteria. Once you’ve obtained your list, it’s time to strategise in terms of how you can deepen your existing relationships.

Ensure that it all adds up

Your donors must be confident that their large donation is going to make a difference. To achieve this, you will need to prove that you are the kind of organisation that will ensure this gets done. Just telling them won’t be enough; you will also need to ensure that your research, figures and story are all consistent. Your donors will want to know exactly how much you need to raise. With these kinds of certainties in place, prospective donors will have far fewer reasons to overlook your request.

Personalise your Messages

To reach each of the individuals you identified earlier, your campaign will need to be highly segmented. Each member in that list of up to 50 individuals will need to receive a personal message from your charity, as well as have their own fundraising program. Here too a CRM can offer unlimited assistance as it makes the management of this kind of complex campaign virtually effortless.

Although it will take time to get the donors you want, there is no doubt that you will be rewarded with both a significant donation and much value in terms of the quality and long-lasting relationships you will build.