First in a Series
You can get lucky with lust, but you get married and stay married with trust.
You’re probably thinking, “What does that have to do with marketing or fundraising?”
You see, many think philanthropy is about getting that one-time donation, whether it be $10 or $10,000 — or, as some call it, getting lucky. But getting lucky is not a long-term solution for any nonprofit. Or, should I say, for anything.
Because It’s Not a Commitment
So let’s examine philanthropy from a different perspective. Instead of looking for ways to land an annual gift, let’s look at ways to establish a lifelong relationship — trust — with donors (whether it be one-on-one or through marketing). Though annual gifts provide income; the latter (trust) provides both income and equity. And what’s equity? It’s endowment. Isn’t that what planned giving is all about?
You can even call it a marriage.
Don’t Raise Money. Raise Friends.
It’s about friendraising… (a term which I recall was coined at Penn in 1996)
In philanthropy, rather than getting donors to raise cash, it is smarter to raise cash to get long-term donors. Sounds like a tongue-twister, but it’s not. The first provides income to your nonprofit, but the second provides income and equity (again, think endowment).
The majority of fundraisers possess a daily income mentality — like 95% of the population. There’s nothing wrong with that. But the very few who get the equity (endowment) part, do exceptionally well for their organization — and for their careers. Like my clients.
Be honest with your donors. Establish a relationship with them and earn their trust. Once you earn their trust, you’ll earn far more than just annual gifts. It’s rewarding in many ways.
Think Income + Equity. Even in your personal life.
It’s just common sense.