Fundraising may sound like a simple event with small activities meant to entice people to contribute to something you believe in. In reality, fundraising can be anything but simple. Any professional fundraiser will tell you how detailed and intricate the entire process is. For a fundraiser to be successful, you must have your own strategic plan.
A strategic plan is a comprehensive study of your fundraising goals and how to achieve them. Professional fundraisers say that an unplanned fundraiser is not as effective or as sustainable as a planned fundraiser, since a plan has already covered the ups and downs, theoretically. Therefore, if calamity strikes them, they are better prepared to withstand it and weather it to be efficient (Perry, 2007).
A strategic fundraising plan would incorporate four main points
1. Goal: The amount the organization is striving to raise in the identified year
2. Assignment: The organization’s mission statement and how the funds go in accordance with the statement
3. Method: How the money will be raised
4. Chronology: Time-bound objectives and methods to measure effectiveness (Sargeant & Jay, 2010).
Here are some tips for fundraising strategic planners:
make a strong case
A fundraiser always has a purpose. Ensure a strong specific case statement for people. This would describe the organization, the purpose of the campaign, and how the fundraising plan aligns with the organization’s mission. The fundraising plan should have actions that drive the campaign to achieve specific goals from a large group of investors or money sources (Sargeant & Shang, 2010).
Choose the right team
A reasonable fundraising team is important. Bring together experienced nonprofit workers who are knowledgeable about the procedures. The team will be responsible for research, prospecting, sending invitations, etc. (Burnett, 2007).
Have a realistic goal
Know that fundraising is not an easy job; it is laborious and takes time. Keep expectations realistic so that motivation is not lost. Goals need to be long-term and focused as there are a multitude of nonprofits fighting for similar grants (Burnett, 2007).
Know the target audience
Most large institutional foundations tend to be single donors. This is mainly because they want to have a bigger impact and want to help more people. Therefore, individual donors should be celebrated and received with similar enthusiasm. Second-time donations should stand out, as they show the effectiveness of your organization. Search for potential donors and learn about your fan base. Focus on places where funding is most likely (Sargeant & Jay, 2004).
be creative
Going to donors and just asking for checks is the old way. Be creative. Think of ways to negotiate the deal and keep it to your advantage. Asking the donor to give small amounts in a distributed manner is a good way. However, making a deal that reaches a certain benchmark would be the key to the release of funds by the donor. This builds trust and would be more beneficial for fundraising (Perry, 2007).
Being prepared for whatever you want to do is one of the key positions for guaranteed success. The ups and downs must always be taken into account to ensure that the path to success is not blocked. Yes, unexpected things happen and plans fail, but statistics show that a planned fundraiser captures a larger market and has greater sustainability than unplanned fundraisers. Plus, employees across the organization understand the goals, keeping them motivated and organized for greater benefits. It takes time and probably even double the time of the task to make a plan. However, in the end, the results will be worth it (Sargeant & Jay, 2010).
References
Burnett, J. (2007). Nonprofit Marketing Best Practices. Hoboken, NJ: Wiley.
Perry, G. (2007). Fundraising in progress. Hoboken, NJ: Wiley.
Sgt, A. & Jay, E. (2004). Fostering donor loyalty. San Francisco: Jossey-Bass.
Sgt, A. & Jay, E. (2010). Fundraising management. London: Routledge.
Sergeant, A. & Shang, J. (2010). Fundraising principles and practices. San Francisco: Jossey-Bass.