Successful Solicitation: Prepare and Follow-Up
In the fundraising profession, we are constantly learning from each other. In fact, sometimes we learn as much from projects that do not exceed our expectations as those that do. When meeting with clients and potential clients, I often point out that fundraising is not rocket science. Anyone can ask a prospect for money. What defines a successful solicitation is knowing that you got the best gift possible. That depends on your level of preparation before the request, and the quality of the follow-up that occurs after the meeting. Read on to learn how to ensure that your organization has the most successful solicitations possible.
Preparing for a Major Solicitation
Treat every major solicitation like a mini-campaign unto itself. Develop your strategy using as much preparation as possible. Preparation has two main components: anecdotal conversations about the prospect’s capability and inclination; and, a formal prep meeting where the solicitation team rehearses the meeting.
Anecdotal Conversations
The anecdotal conversations begin with a feasibility study. Every interviewee has an opportunity to suggest individuals with leadership ability to help run the campaign, as well as rate those prospects for their potential financial capability. Hearing the same name over and over indicates a person whom other leaders hold in high regard. In addition to these objective ratings, the conversations yield a great deal of subjective information about the prospect and their connection to the organization.
The Prep Meeting
A prep meeting is a critical component of any major solicitation. It is an opportunity for the solicitation team to rehearse the meeting and anticipate any problems or questions. A prep outline should be developed. It should include all the pertinent details of the meeting: location, date, time, etc. Each person’s role should be clearly defined, including who will make the actual ask. The amount of the solicitation, as well as any leadership role the person is being asked to assume, should be decided ahead of time. Possible responses should be anticipated and any necessary rebuttal developed. If helpful, some role-playing should be conducted to make everyone comfortable with the plan.
A prep meeting is dedicated time to decide how the solicitation should unfold. This gives all of the participants confidence in the outcome of the request.
Effective Follow-Up After the Solicitation
Often, the best possible response to a major solicitation is for the prospect to take some time and consider it. Those few days are a critical window to continue the work begun during the request. There may be a lot of people capable of influencing the potential donor, including friends or peers they know and respect. Those few days of consideration by the prospect are the time to bring those peers into play.
Before following up, have the prospect receive a few calls from friends, encouraging them to give a positive response. This is especially effective when the prospect has been asked to take a leadership position in the campaign. Potential leaders are concerned that they will need to stand alone during the early days of a campaign. Receiving those messages of support will reassure them that they will have a strong support system.
Summary
Basic fundraising—asking for money—is easy. Superior fundraising—creating the best possible result on each solicitation—is extremely difficult. It is crucial to adequately prepare your solicitation team and use additional influences during the follow-up period. Employing those elements for your organization will help to ensure a more successful solicitation.
CDS has been a leader in nonprofit fundraising for the past three decades. Contact us for more intensive help with your major gift fundraising, strategic planning, or preparing for a capital campaign.