Fix Your Fundraising: Laying the Foundation for Success
Fundraising can be a daunting task, but with proper planning, it transforms into a structured process with clear goals and strategies. This post explores how to lay the foundation for effective fundraising that captivates donors and maximizes results.
Understanding Fundraising Planning
A fundraising plan is a roadmap guiding your efforts throughout the year. It allows you to strategize, allocate resources efficiently, and measure success against concrete objectives. Similar to budgeting or personal finance, we have to get something down on paper to get buy-in from your team and higher-ups and to provide better communication.
Steps to Develop a Robust Fundraising Strategy
Set Clear Objectives: Begin by defining what you want to achieve. Are you raising funds for a specific project, general support, or an endowment? Set SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals. There’s a lot out there about SMART goals - One area that can be particularly terrible is trying to get it perfect the first time. Think about it like putting sand in the sandbox. The goal is to get started. We’ll refine it on the way.
Understand Your Audience: Who are your potential donors? Segment your audience and tailor your messaging to meet their interests and motivations. This increases engagement and the likelihood of donations. I’ve written extensively about creating personal avatars of who you’re trying to talk to in your primary and secondary audiences.
Create a Calendar: Plan your fundraising activities across the year. Include major campaigns, grant deadlines and community events. This helps maintain a steady flow of activities and keeps your team and donors engaged. Need a FREE resource? Check out this workshop with a downloadable Editorial Calendar.
Budget Accordingly: Determine the costs associated with each fundraising initiative. Include costs for marketing materials, events, and staff time. A detailed budget helps avoid unexpected expenses and ensures resources are used effectively. This is the tricky part - you can’t use your whole budget on staffing - you need money to power the things you’ll create. Different agencies are different - our track record is usually an 8-1 or a 10-1 ratio. (For every $1 you spend, you’ll get $8-$10 in return.)
Diversify Your Tactics: Don’t rely on just one method of fundraising. Combine grants, events, online campaigns, and major giving to maximize your reach and impact. Remember, a song has multiple notes, so we can listen multiple times. Your fundraising should be more than one note of GIVE US SOME CASH.
Tools for Planning and Tracking Progress
Use project management tools like Slack, Trello, Campfire, or Asana to keep track of tasks and deadlines.
Content Relationship Management (CRM) systems can manage donor information and communications, ensuring personalized engagement. Please get a CRM, please.
A well-thought-out fundraising plan is your best tool for achieving and surpassing your fundraising goals. It structures your efforts but also boosts donor confidence in your organization, showing that you are serious about making a difference. If you need help implementing this - give me a shout.
