It’s only natural for you to talk about “your ministry,” “your calling,” “your vision.” But as you build a team of people who are praying and giving you want to engage them as partners. It’s far better in your wording to talk about “our ministry.” That well defines what God has called you to do, and how God is using partners to team up to make your ministry happen.
Working with your prospect list is one of the keys to your success in raising funds. Here are 3 actions you need to take:
1. Record Your List
The best way to record your names is to set up a data base using one of many donor software programs. Here are several to recommend but every day new ones become available.
2. Catalog Your Contacts
As you catalogue your contacts each person will fall into one of the following categories:
3. Prioritize Your Contacts
Note: The New and Expanded Version of People Raising being released April 1, 2012 will have an entire chapter (Chapter 10) outlining the critical steps you need to take in working your prospect list.
I was in a situation where I needed to get some advice from a professional. As I made contact with them they invited me to an event that they were conducting. My schedule was such that I could not attend the event, but I did not stop there. I made contact with the person and set up an individual meeting between the two of us. I had their individual attention and it gave me the opportunity to direct my questions and get their response. The value of meeting people one on one as opposed to a group is much more effective.
One day I was in my office with a staff member when I placed a call to a young man and my phone conversation was very brief. He asked if I could call him back. The very next day that staff member asked if I ever got a return call. My response was “no he didn’t get back to me, looks like I’ve got to continue to be persistent and follow up”. The staff member responded and said, “Well I guess the same thing that has happened to me has happened to Bill Dillon.” This explains that there simply is no magic formula, it all goes down to follow up, follow up, follow up with plenty of persistence and prayer!
In the People Raising strategy I encourage people to take their list and prioritize the list by high, medium and low. The high priority people are obviously going to get more time and attention because those are the people that can give substantial gifts to get you to your assignment far faster. That is a strategy that can reduce the time and fear it takes to raise funds. The issue is not valuing your prospects or donors. All those that are brought across your paths are valuable to you as they give.
In reviewing my donor list I identified a donor who had not given their annual gift. I had a chance to meet with them and there was a strong indication that they would be able to give at a far greater level. Reviewing that meeting in my mind, I thought it would be wise to postpone my request for funds and wait just a little later when I could encourage them to give at a far greater level. It is at times like this that patience pays off in the long run.
The more time you spend with your prospects or donors in person or by phone the more you’ll learn about them. It sounds like common sense, but I’m amazed how we are not proactive in doing this very same thing. Let me give you a perfect example. I was with a donor that indicated that they knew some people who were very blessed with funds but they did not offer their names. I took the occasion to stay in contact with this donor and on one of my phone calls sure enough that conversation came back up again but this time a name was given and their capacity to help was talked about and their willingness to connect that person to me. None of this would have happen if I had not been proactive in investing the time.
As you meet with donors and prospects, there are 3 signals you should be looking for.
1. Verbal Signals
For example:
2. Financial Signals
For example:
3. Body Language
For example:
It is vitally important in fund raising that we look for these signals and then act upon them. As that prospect or donor responds with these and other signals we need in full confidence then to challenge and ask them at the appropriate time to play a financial part in our ministry. Failing to act upon these signals is nothing more than passing up a lost opportunity. Ask with confidence, and remember you are giving people an opportunity to invest in the Lord’s work.
I’m one of these guys that have fallen in love with email, but I have had to learn from my own kids that in today’s world for many people the preferred method is texting. Bottom line, if you can’t get a hold of people by email or phone, why not try texting?
You have made the ask and your prospect has agreed to support you and your ministry. Your job is not complete. There are 3 more steps you need to take following the ask.
1. Get an agreed-upon start date.
It is easy to get so excited about the gift that you forget the details. You need to get an agreed-upon start date. Taking a gift right then and there is ideal but for some they would like to make the gift at a future date. No problem; you just need to know what that date is. Failing to get that date simply means you are operating in the dark and it complicates your life as you have to call and get that nailed down. Now is the time to nail it down.
2. Put it in writing.
To make sure everyone is on the same page I put what has been agreed in writing. My letter thanks them for the visit and recites exactly what was agreed to, i.e. “Thanks for your willingness to support me at $200 a month beginning May 1st.” This not only documents their intent but they now have a piece of paper they can file to serve as a reminder.
3. Thank them for the gift.
When their gift does come in, by all means thank them for their gift. Everyone wants to be appreciated and your job is not merely to get the gift but keep the donor. Saying thank you will pave the way for future gifts as God provides.
These 3 simple, and you might say “common sense” things ought to be business as usual as you continue to give God’s people an opportunity to invest back in his work.