In my last post, I covered how to get meetings with hard-to-reach donors. It takes good timing, triangulation, and tenacity.
But what about high-net-worth prospective donors? Those big fish that you know will want to fund your work if only you can get to them.
If major donors are hard to reach, donor prospects are even more so. They don’t yet know you and may not know your organization.
Here are some tips to secure that first meeting:
- Determine alignment. Just because they are rich, doesn’t mean they have any interest in giving to your organization.
- Define a way in. Share your rationale for alignment with a board member, existing donor, or colleague for help in making an introduction.
- Work with gatekeepers. In a short, respectful communication, ask if they can help you get your message to the donor prospect.
- Map out your strategy and execute follow ups. Remember it takes time and consistent moves.
- Personalize your pitch. Reference their known philanthropy, and highlight why your work will interest the prospect.
- Keep your invite modest, but focused. Ask for 20-30 minutes of their time.
- Make it compelling. Focus on what sets you apart as an organization.
- Make it easy to connect. Be willing to meet at the time and place the prospect wants.
- Know when to walk away. On your list are there “white whales”- individuals you are pursuing with very little chance of success? Ahab died chasing his whale. Discern if it is best to allocate your work to more likely ‘big fish.’
It’s a long game. Remember, new major donors often take 18-24 months of cultivation and lots of tenacious follow up before we can ask for a gift. But making contact is the first step.
For more on clear messaging check out this Nonprofit Partner.
Cheering you on!
