Donor Interest and Strategies (Part 2)

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Major and Principal Gifts

Universidade da Califórnia, Davis

Curso 3 de 4 no Fundraising and Development Programa de cursos integrados

This course will provide a comprehensive view of major and principal gift development work for students who seek to build upon their experiences gained in the introductory session. Participants will gain an understanding of the philosophy and strategies implemented in major gift development including prospect identification, how to initially engage a potential major gift donor, the process of cultivation and moves management, effective proposal writing, making a successful ask and on-going donor stewardship. Students will practice fundamental major gift development skills by developing their own prospect strategy, producing essential documents to support the process, and engaging in role playing activity to simulate interaction with prospects and donors.

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Prospect Cultivation, Strategy Development and Getting the First Appointment

In this module, you will be able to start the cultivation process and open the door with a prospective donor. You will be able to identify the objectives of an initial visit. You will be able to reflect on the donor's interests and building donor involvement.

Introduction to Prospect Cultivation, Strategy Development and Getting the First Appointment0:42

Opening the Door with Pre-Call Contacts (Part 1)9:31

Opening the Door with Pre-Call Contacts (Part 2)7:20

Objectives of an Initial Visit (Part 1)8:49

Objectives of an Initial Visit (Part 2)6:56

Donor Interest and Strategies (Part 1)5:40

Donor Interest and Strategies (Part 2)8:15

Ministrado por

Jason Wohlman
Associate Vice Chancellor for University Development

Transcrição

[MUSIC]

As you move forward in developing personal relationships with principal and

major gift prospects through documented cultivation plans, it is important to

remember the following, these relationships are highly individualized.

Specific strategies and gift plans are designed for each prospect.

Institutional partners are nearly always involved in the relationship.

And the outcome of gift plans seldom follows the original design.

You do need to expect to update, provise and revise your strategies over time.

I often referred to documented donor strategies as being written in wet sand.

They are in no way random or temporary, but

a strong tide change could see them be altered.

Moving personal relationships forward with donor prospects through design and

execution of gift plans require that you consider the following.

Gift plans must be straightforward, flexible, and action-oriented.

Each step of the plan must have a specific purpose.

Each step has an actionable outcome that is documented and

has the potential to cause strategies to be adjusted.

Institutional partners are and should be included in the appropriate steps.

Institutional partners need to know what their roles are and approve them, and

include with each step the appropriate collateral materials, when needed.

As I mentioned, sometimes our best laid plans do not work out as we intended.

Circumstances change and adjustments need to be made in our cultivation efforts.

When you are facing this challenge, remember, when your gift plan is wrong,

do not continue to press it, and make sure the volunteer does not.

When changing directions, know more about the prospect's interest before adding

other partners to a prospect meeting, such as the program director,

unless you have suggested it to the prospects and they agree.

When adding partners, it is important to keep the other partners completely

informed as the discussions move forward.

When developing cultivation plans for

a principal gift prospect, those capable of truly transformational gifts for

your organization, the rules of engagement do change somewhat.

The primary differences when engaging principal gift prospects are,

you have a singular focus on the gift idea or

unique opportunity that you are moving the prospective donor toward.

With major gift development,

conversations regarding gift opportunities may be broader in scope.

The prospect's gift is essential for a priority to advance.

The contribution that is being considered is truly transformational.

This prospect is one of, if not the only, person in your institutional

portfolio who can make the gift and truly understand the importance.

This prospect is an institutional insider with deep roots and

a long history, but not always.

The highest level of institutional leadership is involved,

a greater level of financial complexity is definitely involved.

The prospect usually will not respond to peer pressure to make this

particular gift.

And the prospect is engaged at the high-end principal gift level with

other institutions.

Communication strategies and

challenges are unique when working with a principal gift prospect.

Coordinating the calendars of the prospect and

the institutional leader involves patience, perseverance, and

especially flexibility on the part of the institutional leader.

Ask yourself, how do you position and maintain this particular meeting as

a priority with the leader and his or her scheduling office?

Understand that arranging follow up meetings to continue this discussion or

present a formal proposal can take months.

What will you be doing in the mean time to keep the prospect focused on the project?

When developing the formal proposal, tailor it to the style of the donor and

the culture of your organization.

Does this particular donor like to see his name in writing multiple times?

Does the donor have a favorite typeface like the one used at his or her company?

Does the institution have a special image that can be subtly inserted on each page?

Additional challenges when it comes to principal gift communications and

strategies are that the period to reach closure on a gift can be long.

Is the donor in a pledge payment schedule with another institution or

in conversations about another principal gift?

So, are you in line, in effect?

The supporting team might not be included in direct discussions with the prospect.

How do you communicate with the prospect when you cannot talk with him or her?

The institutional leadership becomes discouraged by the time lag in reaching

closure, or begins to believe the gift is no longer possible.

So how do you keep the project alive for your leadership?

The gift plan is designed by the lead gift officer and

approved by the institutional leadership..

This is probably a gift plan with a single focus.

The plan might have very few steps,

although an overall much longer time period.

And the plan could have very few partners that meet with the donor, yet many

partners involved in the various steps of the plan, including the stewardship steps.

Cultivation plans must be documented so

that they are transparent to others in your organization.

Writing them down also requires forethought and strategic thinking.

Items that should be included in your cultivation strategy include

your ultimate solicitation objectives.

This section should include ideas about a mega gift that is either outright or

deferred, as well as major leadership expectations.

Be specific and optimistic about an ultimate gift amount.

Outline your 12-month objectives, include objectives with amounts for the annual

gift, as well as other volunteer roles you would like the prospect to assume.

Include any relationship centered goals, such as involving a spouse or children.

Document the most relevant background points.

What facts are most relevant to and supportive of your objectives?

They can include financials as well as biographical realities such as,

the prospect has no heirs.

What are your immediate next steps and their dates?

What are you going to do next?

Who is going to execute the action and when?

Be specific.

A planned face-to-face encounter with the prospect by a professional or

a volunteer should be included, as should any touching base you might

need to do with the prospect's associates or former solicitors.

Finally, other comments.

Is there something important that doesn't fit anywhere else?

Perhaps the prospect is coming to an event next week or

has just been honored by another organization.

Once your detailed cultivation plan has been established, this is where

an effective prospect management system will be crucial to your success.

You need to keep all of the participants in this plan on the same page.

A final thought on cultivation strategies,

sometimes people can view this process as being calculated.

The truth is, is that is, but

that does not make the relationship any less genuine.

Your plan should be thoughtful, planned, and

deliberate if it is going to be successful.

Ultimately, however, it is important for

development professionals not to forget their role as these relationships build.

While it is most likely that some of your best prospects may

become personal friends as a result of your cultivation efforts,

it is important that you do not forget your mission as a development officer.

It is possible to become too close, or

too attached to a prospect, that you are no longer able to solicit a gift.

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