During a recent client visit I was talking to the VP for Advancement about major gift strategy and the importance of truly understanding donor motivations and values. She told me that when she meets with major donor prospects she tries to ask as many questions as she can, and in her words: “I try not to tell the story before I’ve heard it.” What a great phrase! So many times in an effort to come up with an effective cultivation strategy we make all kinds of assumptions and speculations about our donors. Does any of the below sound familiar?
“Our research shows that she gives to the local Boys and Girls Club. Children must be her biggest cause and we don’t work with children so she’s not a good prospect for us.”
“He’s the CEO of his own manufacturing company so he’ll probably want to work on the finance committee.”
“She created an endowed scholarship for her university. Scholarships aren’t our main priority but it seems like that is what she likes to do.”
The reality is that in each of this cases, based on the information provided, we know very little about our donors in terms of their values, giving preferences, and how they might wish to engage and give to our own institution. About ten years ago if you were able to look at my own giving history you’d see that I gave to quite a few organizations that helped people with disabilities. Is this my main philanthropic priority? Not really. Did I give to those cause because a friend asked me to and it was his philanthropic priority? Yes.
The only way to truly know what a donor’s priorities are, what their values are, and what their priorities are within your own institution is to ask the donor directly.
“I know that you are an ardent supporter of the Boys and Girls Club. Are children a philanthropic priority for you? What are your other priorities?”
“With your business background we’d love to have you involved with our finance committee but tell us, how do you best like to be engaged with the organizations you work with? What was your best volunteer experience and why?”
“What was your motivation in donating an endowed scholarship to your university?”
Asking strategic questions will give you the most accurate information from which to design an effective cultivation strategy. It will also result in a far more satisfying experience for your potential donor. Finally, asking strategic questions will also set a tone of open dialogue and information sharing.
If you find that you are speculating and filling in information that is based on anything other than what you’ve heard directly from the donor, stop, realize that you don’t truly know the answer to the question you are asking, and make a point of asking it the next time you meet with your potential donor. The results will be a far more interesting story than the one you’ve made up in your head.