126. Back to the Basics: Major Gifts - Jonathan McCoy, CFRE and Becky Endicott, CFRE
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Overview
We kicked off our new Friday series Back to Basics last week focusing on Annual Giving...but naturally we added a We Are For Good arc on how build upon the basics. This week we're diving in the science AND art of major giving ❤️ We'll talk strategy, structures, examples and infuse that We Are For Good arc into this conversation too. Tune in Friday for Basic to Basics: Major Gifts.
“Most importantly, follow your gut. Building authentic relationships with major gifts prospects is a long game. Be an incredible listener, connector, and observer.”
Episode Transcript
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Episode Overview
Back to the basics: Major Gifts - where do you start? (1:50)
Get to know your mission: dive in deep (2:30)
Becky’s experience as a major gifts officer (5:30)
Get to know people at a deeper level - what are the connective parts of their stories? (9:10)
Defining major gifts (11:00)
The art of fundraising goals (12:30)
Drivers of major gifts: influence, affluence, and traction (20:00)
5 key steps of major gifts development (21:00)
What are the indicators for major gifts potential? (24:00)
Major gifts pro tips (26:00)
FREEBIE: 23 Questions to Ask on Donor Qualification Visits (Bloomerang)
Powerful quotes
“Every single one of us have something in common - we all spent our first day in a nonprofit.” -Becky
“You have to become a student of your mission. Understand your mission, values, and strategic plan. Don’t just check the box, dive in and peel back the layers to understand the what and why behind it all.” -Jon
“Understand people’s why. How have they been impacted by the organization? What role does philanthropy play to make miracles happen?” -Becky
“When we are building relationships, you are trying to build relationships with the donor and the organization.” -Jon
“Major gift officers, this is not about you. It is not about your relationship, goals, or metrics. It is about the donor and becoming a bridge between them and your organization.” -Becky
“90% of our revenue is going to come from 10% of our donors. That underscores why a major gifts program is deeply necessary to be a launching pad for your organization.” -Becky
“The cultivation effort has to be a team sport. Define the roles and responsibilities to ensure everyone is speaking with one voice and pouring into the overall strategy.” -Becky
“Most importantly, follow your gut. Building authentic relationships with major gifts prospects is a long game. Be an incredible listener, connector, and observer.” -Jon
“Time to get organized, make a plan, and make some asks. You can do it.” -Jon
“This is all about you showing up to be your authentic self, casting a massive vision, and seeking value alignment.” -Becky
Key Goals of Major Gifts
1. Align this process based on your shared values.
This could be the values of the individual, corporation or foundation. It is about developing relationships based on those values and how you can mutually benefit each other.
2. It’s not enough to just cast vision, show a path to get there.
You have the plan, you need the partners to get there. It is more than just the dream. There are values as to why people give, but there are also motivations to why people are giving. These conversations have to be all encompassing.
3. Be a human being. Be real.
We are giving you permission to go in and have a super authentic conversation. Meet a human being as another human being. Get to know their heart, motivations, and why. Get to know about them and care about the things they are saying.
4. Diversify the type of stewardship you do in these relationships.
You’re stewarding along the entire journey. Your mission is bright, and there are many dynamic and engaging ways to share impact. There are lots of people to engage that could create an extra level of connectivity with your donor.
5. Weaving connections is a total growth mindset hack.
Leveraging any connection you have to your mission is a very smart thing. If you can employ any level of your network, it will be game changing. A peer-to-peer solicitation can elevate your storyline.
Drivers of major gifts
1. Influence
2. Affluence
3. Traction
5 Key Steps of Major Gifts Development
1. Identification
2. Qualification
3. Cultivation
4. Solicitation
5. Stewardship
Major Gifts Pro Tips
Have specific plans for your top donors.
Communicating impact is the single most powerful and important tactic you can employ with major gifts donors.
Don’t think so narrow in your approach with major gifts. When you realize all the places that fundraising is happening in your organization, you can find opportunities to thread major gift opportunities.
You can still orchestrate a solid major gift ask virtually.
Go back to your data.
Conduct a wealth screen* (move cautiously through this tip)
Major Gifts Podcast Playlist!
FREE Workshop! Write less and engage more, today!
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