One Small Step for Fundraising: Best Practices Soliciting Major Donors with WealthEngine


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Slidedeck from the Idealist Consulting-WealthEngine webinar 4/30/14.

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One Small Step for Fundraising: Best Practices Soliciting Major Donors with WealthEngine

  1. 1. Soliciting Major Donors with WealthEngine April 30, 2014
  2. 2. Introductions Danielle St. Germain-Gordon Director of Development Guthrie Theatre Minneapolis, MN Sally Boucher Director of Research WealthEngine Bethesda, MD
  3. 3. WealthEngine Trusted By 20+ Years Experience 4,000+ Clients 120MM+ Households 10+ Terabytes 2,000+ Unique Attributes
  4. 4. Our Services Smart Solutions to Support Your Strategy & Budget Data Services Analytics Services Marketing Services Direct Mail Email Campaigns Digital Wealth Screening Lifestyle Appends Prospecting Custom Models Segmentation Analysis Circle of Friends
  5. 5. WealthEngine for SalesForce
  6. 6. Best Practices in Soliciting Major Donors Through the lens of the donor cycle: Identification Qualification Discovery Cultivation Solicitation Stewardship
  7. 7. Major Gift Thresholds 0 50 100 150 200 250 300 Average Minimum Major Gift Threshold Overall Average Minimum Major Gift size=$18,660
  8. 8. Identification Identification Qualification DiscoveryCultivation Solicitation Who are my major gift prospects? Where/how can I find more prospects?
  9. 9. Identification Best Practices Use a combination of methods to identify major gift prospects in your database Data mining Peer screening Data screening/wealth & lifestyle appends Find new prospects using all the tools at your disposal In the news Published donor lists Peer referrals Custom prospect lists
  10. 10. Qualification Identification Qualification DiscoveryCultivation Solicitation Does this prospect meet my minimum criteria for a major gift prospect?
  11. 11. Qualification Best Practices Find enough data to answer the question: “Is this a major gift prospect?” Capacity – can s/he make at least a gift of $X over 3-5 years? Affinity – Does s/he have some connection to our organization? Philanthropy – Has s/he indicated a philanthropic propensity by donating to our or other charitable organizations?
  12. 12. Discovery Identification Qualification Discovery Cultivation Solicitation Does this prospect have the interest to further engage with our organization?
  13. 13. Discovery Best Practices Ask for permission to speak with them: “Is this a good time?” Be open about who you are and what you do Ask open-ended questions Listen for cues of reluctance or interest If there is interest, make an appointment to visit face-to-face, or get permission to contact them at a later time If there is not interest, move on!
  14. 14. Cultivation Identification Qualification DiscoveryCultivation Solicitation How can I move this prospect closer to our organization? What are his/her specific interests and passions?
  15. 15. Cultivation Best Practices Identify organization touch points Learn the important “rights” Right time Right amount Right partners Right purpose
  16. 16. Solicitation Identification Qualification DiscoveryCultivation Solicitation Ask for a specific gift amount for a specific purpose
  17. 17. Solicitation Best Practices Make sure you have the decision makers present Prepare written/graphic materials as appropriate Ask for a specific amount for a specific purpose Don’t be first to speak after the ask Establish next steps
  18. 18. Comments or Questions? Additional Resources: Join WealthEngine Institute @ Annual Giving Workbook Individual Giving Workbook Best Practices for Advocacy and Community Organizations