The Ask — There is a Way to Ask, and then there is a RIGHT WAY to Ask
Perhaps the most critical part of a capital campaign is ‘‘the ask’’ing process, especially with major gifts. Each solicitation is an opportunity to close another great gift, but it is also possible to make some critical errors. We have all made the mistake of low-balling a potential prospect with an “ask” that was too easy and the donor said “Yes” immediately to the request. A much less common, but also possible, result is that people occasionally increase their gift because of their love or passion for a particular cause or project. Typically, though, if we ask for too little we will leave with a gift that is smaller than it could have been. Since no non-profit organization can afford that loss, each “ask” must be done the right way.
First and foremost, we must do the research on the prospect to determine what that person, corporation or foundation is capable of giving. You can gather this information through multiple sources that include friends, fellow fundraisers, Trustees, the Internet, newspapers, friends of the prospective donor along with other campaigns and sources. Always keep in mind that most of the support will come from individuals (86% as a national trend) with the remainder coming from foundations and corporations. So concentrate on individuals!
One of the most difficult preparation decisions before ‘‘the ask’’ is to determine the amount of the gift to be sought. This can run the gamut, especially when you are pursuing major gifts. Whatever you do, don’t be shy! Every solicitation is a mini-campaign unto itself, a once in a lifetime opportunity for that donor to make a difference with your organization.
Factors that can help in determining the amount of the request are the case and the total goal that has been set for the appeal or campaign. Analyze the case and compare it to what you know about the prospect. Emphasize those points that you believe will resonate the best with that individual. Determine specifically where they fit in the overall framework of your campaign goal. Make sure you are soliciting gifts that allow you to take the largest possible ‘bites’ out of that total objective.
Another critical component is the leverage that can impact a potential gift because of a well-prepared and trained solicitor seeking the gift. Solicitations should always be conducted by two or three people. Conduct ‘‘the ask’’ in an appropriate setting (the donors home turf) or at a location and time that suggests a more formal meeting—not a casual ‘drop by’ setting. The more formal the setting the more serious the request and the greater the potential for a much larger gift.
We must always ask for a specific gift in writing with a formal proposal, personalized to the greatest extent possible. It is also in your interest to prioritize your prospects, beginning with those people who are capable of making the largest gifts and are most likely to say “Yes.” Save those real long shots for later in the process when you can quote a great deal of progress and convince them to jump on the bandwagon. In most cases long-shots are just that—long-shots, so use your time wisely.
Scheduling an appointment can be difficult at times, therefore identify that person who could make the call to get that appointment. They should be upfront on the intent of the visit—to discuss this project and how the prospect can help—and ask for just 45 minutes. After the meeting is set, bring the material and solicitation letter with you with a specific amount that stretches the prospect’s capability.
Rehearse the visit with the team that will conduct the request. If you and a trustee are making the request, make sure that the person doing the actual “ask” is comfortable and well prepared. When two are involved with the call, the other partner can cover those points which could be helpful in the decision process. Be yourself and always be conscious of why you are meeting with this prospect. You are there to raise money—so stay focused on the purpose of the meeting.
When ‘‘the ask’’ has been made, make sure that you give the prospect time to consider your request. Ask him or her if they would consider this amount, or this specific leadership role. Some will say YES immediately, however many will seek time such as a week to two weeks to evaluate your request. That is why it is essential that your written request cover the issues and provide information that could help the prospect make a decision (hopefully a favorable one).
When you leave, thank them again for their time and consideration of this request. There should also be a follow-up letter sent within twenty-four hours thanking them and emphasizing the need for a timely decision. This will demonstrate the seriousness of ‘‘the ask’’ and the importance of the timing of their gift.
It is important to note that your first few gifts are the most important because they will set the stage for all giving levels. Aim high! Don’t be shy! You have nothing to lose as long as you have done your homework with a well prepared and carefully analyzed “ask.”
Go out and do it. Get that appointment! Make that ask! Get that gift! Make that “ask” the RIGHT WAY and you’ll reap the benefits!