The days of simply mailing out invoice reminders or placing envelopes on tables at charity fundraising events are long gone. In fact, if you tried that today, you’d find that 98 percent of the envelopes remain empty. So, how do you not only get people to donate but also, more importantly, inspire them to contribute significant sums of money? This requires a two-pronged strategy, but first, let’s acknowledge that fundraising has changed significantly in the past 18 months, and it is essential to stay current.
While many donors give out of a deep sense of gratitude and passion for a cause, finding fulfillment in the act of giving itself rather than seeking external recognition or acknowledgment for their contributions, one fundamental principle remains unchanged and is often overlooked in fundraising communication. It’s called WIIFM (or What’s In It For Me?), and it’s unlikely to change anytime soon.
To attract more sponsors and entice more people to donate, we first must understand that companies will donate or invest in exchange for promotional value, otherwise called advertising or public relations. It all comes down to one thing: attention. The more attention they receive, the more they are willing to donate or sponsor. Donors, including those who could make substantial contributions, have come to expect something in return for their donations. What do they want? To be noticed or have their few seconds in the spotlight.
Understanding the WIIFM principle is half the battle in uncovering the secret to attracting sponsors and enticing more people to donate. Here’s the other half: The ask.
Before explaining how our clients approach the ask, take a moment to remember the old way of soliciting donations. This involved sending out hundreds of mailers or making cold calls to a list of potential supporters. It often led to lengthy conversations about why you need their hard-earned money, leaving you feeling like a telemarketer. It is essential to recognize that your donors matter, and they should feel that they matter to you.
I recently encountered a situation in which a wealthy friend attended a local fundraiser. When I asked how much he donated to the cause, his response surprised me: “Nothing.” He explained that no one had asked him to donate, and after reviewing the offerings in the silent and live auctions, nothing appealed to him, so he didn’t bid on anything either.
The fact that no one had asked him to donate conveys a simple yet ironic message: He should have donated on his own without being asked. But in today’s world, everyone wants to be appreciated and thanked, to know they matter. When you place yourself above your donors—by expecting but not asking for a donation—it is a clear sign that you’re out of touch.
In this “What are you going to do for me?” era, both donors and sponsors need to see value in their donations. What does value mean? Simply put, it’s about what they get for their donation.
From decades of experience raising hundreds of millions of dollars for nonprofits, my colleagues and I have learned that it often comes down to simply asking for what you need. Is it an underwriter for a new building? Is it to make up the deficit for a grant you counted on but did not receive? We cannot just expect donations. We must be clear about the why: Why you and why now?
So, what should you do and how should you do it? First, consider hiring a professional. Whether it’s to train your board or build a capital campaign from scratch, their outside perspective can outline clear objectives, answer the whys, and offer tools and language that encapsulate your ask in a way that resonates with potential donors.
Understanding the mechanics of how, when, and who to ask, combined with a clear ask that meets the donor’s priorities, is crucial, and a professional can help in these areas.
A specific need, such as a capital raise, consistently outperforms a general ask. People like to fund a need, especially if they get credit for doing so. Accolades and a tax write-off? You’d be amazed at how incredibly successful it can be when you focus on a specific need that their donation is underwriting. We’ve raised as much as $1 million in one sitting using this approach—simply by asking.
The ask is an art because it must appeal to your donors without coming across as begging. No one likes to beg, and if you feel like you are, you haven’t been trained yet in the fine points of making a successful ask. There’s an important distinction between putting someone on the spot and knowing exactly what to say when you meet with them. Do not waste their time or yours.
