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Why you need to focus on the most qualified donors
Focus. Because… the world is quickly becoming one that has fewer donors giving more. According to The Institute for Policy Studies (after they crunched the data from Giving USA Foundation’s annual philanthropic survey from 2003 – 2013), itemized charitable donations over 10 years have increased:
- 104% from households with earnings of at least $10 million per year
- 57% from people making $500,000 or more (the top 1%)
- 40% from low-six-figure earners (households earning at least $100,000 per year)
and itemized charitable donations over 10 years have decreased:
- 34% from people earning less than $100,000 per year
Focus. Because… your supporters want you to raise money efficiently. Most don’t want to be lectured about the fact that overhead is “necessary”. Sure, they’ll nod their heads in agreement. But, instead, they’d rather hear and see you making smart, productive, businesslike decisions.
Focus. Because… by aiming your attention at the best opportunities for major or legacy gifts, you can double, triple or quadruple your revenue relatively quickly and at low cost. Seriously!
Focus. Because… the most successful fundraisers know all of the above. They don’t just identify prospects with wealth screening. They don’t just depend on analyzing their data (recency, frequency and dollar totals of giving). They don’t just focus on capacity. They don’t even care if a prospect gave to a similar organization. No, they focus their efforts by qualifying their donors before spending time (which is just as valuable as money) with supporters who cannot and will never be interested in making a tremendous impact and have no ability to introduce you to those who can.
Focus. Because… the smart fundraisers qualify their leads. They cultivate them properly. They build deeper relationships with fewer people. They manage smaller caseloads more intently. They provide massive amounts of value for the people that matter most. They listen carefully to identify their passions, desires, wants, needs and interests. They customize solutions that satisfy their passions, desires, wants, and needs. Then they match offers (giving opportunities) with their individual interests.
Focus. Because… this is a business! Sure, relationships are important. In fact, they are essential. But relationships with people who will never seek to make a tremendous impact in one form or another is just foolish and you owe it to the rest of your supporters to move on.
Focus. I beg you, please… focus!
Related Posts:
>>End of Year Is Here: Where to Focus Your Attention Right Now
>>Why failing to focus on major and planned gifts can be so dangerous
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Feeling like your job is getting harder because donor expectations have changed and competition for the charitable dollar is growing?
Finding that the old orthodoxies and conventions espoused by so-called experts in online echo-chambers and at conferences don’t work anymore?
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