How to effectively raise funds

Fundraising can be quite rewarding if done properly. First, you need to know your prospect. Knowing your prospect is crucial to getting them to like you and open up their wallets. A good way to get to know your prospect is by asking them open ended questions using phrases like how are you familiar with our organization or what do you think about our organization. In fundraising, this is called "BONDING". Once you've bonded with the prospect, It is time to let your prospect know why your organization needs their help. This is your "CASE FOR SUPPORT". Be prepared with 3 good cases for support. 1 for the full ask, 1 for the 1/2 ask, and 1 very compelling case for participation. If you LISTENED effectively during your bonding session, you should be able to pick a case that answers the question, "What's in it for me!". If the prospects like you and understand what's in it for them, they are more likely to give their support. After you've bonded, and given the case for support, make "THE FULL ASK". Once the full ask is made, be quiet and listen for their response. If you are lucky, the prospect is a donor and ready to pledge with this phone call. This is the ideal situation, but not always the case. Bringing non-donors on board is a little more challenging. Here is how to successfully bring a non-donor on board: Bond with the Prospect and make them like you. Give compelling case as to why they should support your organization. Ask them if there is a reason why they are not interested in donating. LISTENING to their response is crucial. Once you know why they are not donating, you'll know how to overcome their objections. If the reasons are financial, let them know others are in the same boat (the BANDWAGON AFFECT), give additional case for support, and tailor the amount to their needs by reducing it 50% (everyone likes a 1/2 price sale). If the prospect is still not comfortable with the amount, it's time to make your final pitch. Bring out your most compelling case for support and stress the importance of community involvement. Let them know their support helps with getting grants for the organization. Once you've brought them on board, thank them sincerely making sure you CONFIRM the expectations at least 3 times before ending the call. Make sure to let them know an official thank you will follow by mail. Make sure to verify the Prospects information so the mailer gets to the correct address. Some people, no matter how compelling the case, won't donate. Make sure you leave them with a good feeling regarding your organization so they'll be more likely to donate the next time you contact them. Happy fundraising. You'll get there one donor at a time.

Instructions

Difficulty: Challenging

1. Introduction:
   Ask for the prospect appropriately by using first name/first and last name/salutation and last name (Do not use middle initial.)
2. Bonding/Engaging:
   Hold conversation with the prospect by asking open-ended question(s).
   (Be sure to follow up on answers to the prospect' s questions)
3. Case:
   Once you've bonded, and connected with the prospect, follow up with case for support. Discuss the case knowledge ably and accurately. Don't make things up just to sound good. Make sure to provide benefits of the case points to the community and/or individual. The case should answer the question, "What's in it for me?".
4. Ask:
   Present the FULL ASK to the prospect. State the quarterly amount (if applicable), #of years (if applicable), and Total amount being requested. If the Prospect says no to the full, be empathetic using the bandwagon effect, and reduce the amount by 50% (half)after providing additional case for support.
   Be sure to provide benefits of case points to the community or individual before stating the half amount. If the prospect says no to the half ask, discuss grants and benefits of participation before asking for the participation gift. Let the prospect know his gift, no matter how nominal, can make a difference. Keep processing costs in mind when stating the participation gift being requested. Don't offend the prospect by declining ANY amount volunteered.
5. Confirmation:
   Once you've turned your prospect into a donor, it's time to seal the deal with good confirmations. Thank him for his gift, stating the exact amount and terms (Confirmation #1). Confirm the mailing address the thank you letter for his gift of $$$(total amount indicated on thank you letter) will go to (Confirmation #2). Ask him what credit card he would like his gift of $$$ to be charged to (Confirmation #3 ). Once the gift has been confirmed 3 times, verify the time line of the pledge obligations so the expectations are clear. Make sure to leave your Prospect with a good feeling about pledging so he doesn't suffer buyers remorse after hanging up the phone.

Tips & Warnings

• Call quality and rapport building is a must in effective fundraising. Make sure you utilize effective listening techniques. Remain conversational throughout the call. Speak clearly and concisely. Never use slang or internal "jargon". Be enthusiastic. Make sure you are knowledgeable about your organization and it's case for support. Be sure to answer all the Prospects questions to the best of your ability. Don't forget to make appropriate notes in case their is a communication problem down the road.
• Make sure you have the appropriate licensing and certifications before doing any fundraising.