The meaningful conversations you need to have with prospects
Dear Diary,
Today’s post will focus on certain conversations that truly matter during the qualification and cultivation stage. This is content very specific to frontline fundraisers, and of great interest to prospect development professionals who strategically support fundraising efforts.
To focus on the conversations not being had with prospects, think about when you meet a prospect, the introductory call is routine – your aim is to either thank them for their previous gift, discuss motivations for their past gift, and/or introduce the organization and its work, etc.
What tends to be missing as you learn about the prospect is their personal understanding of philanthropy. It is important to dive into the connection, the meaning of philanthropy is the way a person sees and understands the act of giving (monetarily or through time and service), it is a strong indicator of who they are and who they want to be as donors. It also measures the extent to which they are willing to commit based on where or what they place value.
Also, the prospect may not have an understanding of philanthropy, which is critical to how you proceed in your engagement strategies. Ask, how do you perceive the future and impact of philanthropy?
Example: When billionaires sign The Giving Pledge, they typically write a letter telling of their philanthropic motivations to give away their wealth, so to illustrate their personal connection and understanding of their privilege and role in philanthropy.
But to make this connection during a conversation with your next prospect, that would really reel in the relationship.
How about giving space for conversations and reactions to social interests, which has been an opportunity that fundraisers have shied away from. It is an understandable hesitation, and a missed opportunity because it can gauge alignment when tactfully approached. It also matters when prospect researchers find social leanings shared online by a prospect, this is information that tends to lend itself to how the prospect gives.
Example: Recently, a lot of donors have been social impact givers, influenced by the need to make sure their money goes to the organizations that will change their community, and country. These are the donors who share how they feel on their social media accounts, tell friends and colleagues, and who ask the mission-driven questions when meeting with a fundraiser.
And, if this is what matters, do you know what a commitment means to your prospect? When the topic of making a pledge arises, the meaning of a lasting commitment could be discussed. To commit to an investment means different things and changes per person. But to talk about it with a prospect, is to acknowledge with them that you recognize what it would mean to make a lasting impact on a cause. It matters that you hear their stance on creating longevity. Ask, what does commitment look like to you?
Example: A prospect told a frontline fundraiser many times that he would not make a contribution until there was something tangible for him to experience. He wanted to be a volunteer first, and felt that this was his only path to a commitment. The fundraiser set him up as a mentor and allowed him to get a first-hand view of how constituents were benefiting from the program. When asked about commitment, the prospect made it clear that his role was rooted in an experience first, and then a multi-year pledge to advance what he had experienced.
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After reading through these meaningful conversation prompts, what do you think is missing or what would you add? Have you ever heard of or had conversations like this? Please share below.
Until next time, October 15th!
