And then we both said to one another: there is no silver bullet. Unfortunately, there is no immediate solution to the issue of stagnating annual fundraising. What there are, however, are tried and true methods of effective fundraising that when executed successfully, can lead to success over time:
Building the pipeline
Identifying new prospects to engage should be an ongoing effort. Even when you have a robust solicitation pipeline, identifying new prospects is important. Creating a list of people to qualify, and hopefully cultivate and solicit, always pays dividends down the line. Keep in mind that while this process may take time, it will ultimately feed into the solicitation pipeline which will bring in new dollars.
Continuous engagement and cultivation
Engaging and cultivating prospects primes them for solicitation. Rank prospects according to those who have the capacity to give the most, then prioritize engagement and cultivation accordingly.
Effective stewardship
Stewarding gifts effectively is critical. Thanking donors not only demonstrates your appreciation for their gift but creates the opportunity to further engage and demonstrate the impact of their gift. A donor who has been effectively stewarded can become a great advocate for the organization and can also be moved back into the donor life-cycle for solicitation. Effective stewardship keeps your pipeline fresh. Donors who are the most committed and engaged can also be asked to consider an additional gift in the same year.
Staying focused, motivated, and on the ball
Effective fundraising requires discipline and focus. Every day is a new opportunity to engage more people in your work. Maintaining a clear priority list of steps needed to executive solicitations helps to keep you focused and on task.
Remember, it’s a long game.