{"id":27342,"date":"2021-09-21T11:56:02","date_gmt":"2021-09-21T15:56:02","guid":{"rendered":"https:\/\/www.qgiv.com\/blog\/?p=27342"},"modified":"2021-09-21T11:56:04","modified_gmt":"2021-09-21T15:56:04","slug":"major-donor-cultivation-best-practices","status":"publish","type":"post","link":"https:\/\/www.qgiv.com\/blog\/major-donor-cultivation-best-practices\/","title":{"rendered":"Major Donor Cultivation Best Practices"},"content":{"rendered":"\n<p>Your major donors are going to become more important to your nonprofit&nbsp;<a href=\"https:\/\/www.thenonprofittimes.com\/foundations\/big-donors-need-bigger-commitment-from-nonprofits\/\" target=\"_blank\" rel=\"noreferrer noopener\">as the number of small-gift donors declines<\/a>. That\u2019s why knowing how to cultivate your major donors is imperative to the financial well-being of your nonprofit. Are you in need of a major donor cultivation strategy? Read on for our major donor cultivation best practices for helpful tips you need to successfully steward these important donors.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What is major donor cultivation?<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.qgiv.com\/blog\/cultivate-major-donors\/\" target=\"_blank\" rel=\"noreferrer noopener\">Major donor cultivation<\/a>&nbsp;is a strategy you implement to identify, steward, and solicit your potential and current major donors. This ensures&nbsp;your nonprofit can continue to receive major gifts donations. These donations are crucial for funding your nonprofit\u2019s work. Major donors can also be instrumental in funding your capital campaigns, overhead expenses, and other costs of achieving your mission.&nbsp;<\/p>\n\n\n\n<p>Clearly, your major donors are important! Stewarding them should be important as well. In the next sections we\u2019ll learn how to identify, steward, and solicit donations from major gifts donors.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How to identify major donors<\/h2>\n\n\n\n<p>Identifying major donors often requires research.&nbsp;You&nbsp;should have a wealth of knowledge about&nbsp;<a href=\"https:\/\/www.qgiv.com\/blog\/identifying-major-donors-6-clues-in-your-database\/\" target=\"_blank\" rel=\"noreferrer noopener\">existing donors<\/a>&nbsp;in your database, which&nbsp;means you&nbsp;can&nbsp;use it to&nbsp;find major donors&nbsp;and&nbsp;set up&nbsp;meetings with&nbsp;major gift prospects outside of your donor database.&nbsp;<\/p>\n\n\n\n<p>Look at your database for major gifts donors first.&nbsp;Keep an eye out&nbsp;for indicators such as:&nbsp;<\/p>\n\n\n\n<ul><li>Previous major gifts&nbsp;<\/li><li>Larger recurring donations&nbsp;<\/li><li>Donors who own businesses or are affiliated with bigger businesses&nbsp;<\/li><li>Real estate holdings&nbsp;<\/li><\/ul>\n\n\n\n<p>The first item on the list seems obvious, but it\u2019s easy to forget or overlook past supporters, especially if there wasn\u2019t a major gifts program before. One of the easiest ways to find major gift donors is to look at your previous major gifts and find out who gave them and why.&nbsp;If it\u2019s been awhile, reintroduce yourself and rekindle that existing relationship. We\u2019ll touch on that more in the major donor stewardship section.&nbsp;<\/p>\n\n\n\n<p>While shy of a major gift, recurring donors who make larger gifts indicate they\u2019ve got the capacity to make a major gift. While it\u2019s perfectly acceptable to leave recurring donors alone to continue supporting you in this way, if you need larger gifts and need to increase your pool of potential major gift donors these donors would be great to get to know. Verify they truly have the capacity to give a major gift, though. You can use a&nbsp;wealth screening service&nbsp;to look for clues that they\u2019re appropriate to ask.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What is a wealth screening service?<\/h3>\n\n\n\n<p><a href=\"https:\/\/www.qgiv.com\/blog\/resources\/prospect-research-finding-hidden-gems-in-your-own-database\/\" target=\"_blank\" rel=\"noreferrer noopener\">Wealth screening services<\/a>&nbsp;are powerful tools in a major gift officer\u2019s toolkit. You can search for donors and determine if they have any key indicators of wealth. These services usually estimate net worth based on careers and held assets. Additionally, you can determine other wealth factors like business ownership, real estate holdings,&nbsp;giving history to other organizations,&nbsp;and more.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Run all your potential major gift donors through a wealth screening tool to determine if they\u2019re the right candidates to ask for major gifts. Many are geared exclusively to nonprofits and can even suggest a gift size range to ask for. If that range qualifies as a major gift at your nonprofit, they\u2019re a viable candidate&nbsp;for a major gift ask.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Best practices for stewarding your major donors<\/h2>\n\n\n\n<p>Like other donors,&nbsp;<a href=\"https:\/\/www.qgiv.com\/blog\/resources\/invest-in-your-investors-top-tips-for-building-a-major-gift-program\/\" target=\"_blank\" rel=\"noreferrer noopener\">major donors<\/a>&nbsp;require&nbsp;more careful&nbsp;stewardship&nbsp;than&nbsp;one-time or recurring donors.&nbsp;&nbsp;To prevent losing your major donors and potential major donors, it helps to have a donor stewardship plan in place that\u2019s specific to major donors.&nbsp;<\/p>\n\n\n\n<p>An experienced major gifts officer is really helpful for forming an effective stewardship plan. Why? A major gifts officer should know how to convince prospective major gift donors to give a larger gift and should have an idea of the time it takes. The process can\u2019t be rushed. If you want a major donor to give, you have to make sure their needs are met first.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Consider why they support you or would start supporting you. Then, tailor the plan to their interests. Is there a particular fund they care about? Did they receive your services? Are they just philanthropic? There can be myriad reasons a donor would choose to make a major financial contribution to your nonprofit. Your donor stewardship plan should be adjusted as you learn more about their motivations.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Elements to add to your stewardship plan<\/h3>\n\n\n\n<p>There are a lot of ways to steward your donors. Consider incorporating these ideas in your donor stewardship plan:&nbsp;<\/p>\n\n\n\n<ul><li>Invite them to serve on a committee to show how much you value them&nbsp;<\/li><li>Get them more involved with volunteer opportunities&nbsp;<\/li><li>Bring them in for in-person visits and tours of your facilities&nbsp;<\/li><li>Honor them at events&nbsp;<\/li><li>Have beneficiaries write letters of thanks or record thank-you videos to major donors&nbsp;<\/li><li>Recognize them for things unrelated to gifts and giving (i.e. Sending a birthday card, congratulating them on a promotion, etc.)&nbsp;<\/li><li>Or invite them to a&nbsp;<a href=\"https:\/\/www.qgiv.com\/blog\/board-members-major-gifts-team-bffs\/\" target=\"_blank\" rel=\"noreferrer noopener\">board meeting<\/a>&nbsp;<\/li><\/ul>\n\n\n\n<p>In general, though, a donor stewardship plan should identify major donors, form a meaningful interpersonal relationship, educate them about your nonprofit, and then ask for a gift. After the gift, thanking major gifts donors and updating them before asking again is crucial.&nbsp;&nbsp;<\/p>\n\n\n\n<p>People give to people so forming a meaningful&nbsp;relationship&nbsp;is the most important step in the plan. Give yourself time to accomplish this and get to know your major donors. When they think of your organization, they\u2019ll think of you as a person, which makes it much harder to say no to requests for support.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Soliciting large gifts from your major donors<\/h2>\n\n\n\n<p>We talked a bit about asking for major gifts in the previous section, but how do you actually go about it? Asking for significant sums of money is not easy. Giving that large sum is even harder. It requires having faith that it\u2019s going to a worthy cause and will make a significant difference. That\u2019s why it\u2019s important to request a meeting with major donors. Meeting in person gives you the opportunity to create and deliver a presentation that inspires them to give.&nbsp;&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Come prepared with a presentation<\/h3>\n\n\n\n<p>During the presentation, outline how much you need, what it\u2019s for, and why you think it\u2019d be great for the donor to make this gift. When making the ask, be sure to start the conversation with casual conversation with your major donor. You don\u2019t want to dive into an ask for $10,000+ dollars without making a little small talk first.&nbsp;<\/p>\n\n\n\n<p>After the pleasantries are out of the way, let the donor know why you need funds. You can show them who the gift benefits and explain how. Be sure to let them know why your organization is the best solution to the problem. How does your approach differ&nbsp;from other efforts&nbsp;and&nbsp;what have been the results?&nbsp;Come with a mixture of both anecdotes and statistics to show that your approach is proven to be effective.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Be open to questions and rejections<\/h3>\n\n\n\n<p>When you\u2019ve wrapped up your presentation, open it up to questions and make your major gifts donor feel at ease about making the gift. If they need time to think about it after digesting the information, schedule a follow up to discuss it. Hopefully you&#8217;ll be lucky enough to secure a commitment&nbsp;then&nbsp;and there. If that&#8217;s the case, be sure to&nbsp;help&nbsp;them complete their gift and&nbsp;<a href=\"https:\/\/www.qgiv.com\/blog\/donor-thank-you-letters\/\" target=\"_blank\" rel=\"noreferrer noopener\">thank them for their support<\/a>&nbsp;before letting them know the next steps and what they can expect.&nbsp;<\/p>\n\n\n\n<p>If they decline to help, that\u2019s okay too. No just means not now, so continue stewarding them and building that relationship. Maybe they\u2019ll be ready by the next time you have a need they can help you fulfill.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Final thoughts<\/h2>\n\n\n\n<p>Your major donors are important for your mission. Make sure they have a great experience as a donor at your nonprofit. Approach them with your research done, with a plan in mind, and present your asks with a personalized meeting. Bear these three best practices in mind to ensure you get the best results from your major donor&nbsp;cultivation efforts.&nbsp;<\/p>\n\n\n\n<p>Qgiv&nbsp;makes it easy for major donors to make donations.&nbsp;<a href=\"https:\/\/www.qgiv.com\/donation-forms\" target=\"_blank\" rel=\"noreferrer noopener\">Request a demo<\/a>&nbsp;of our free, unlimited online donation forms.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Your major donors are going to become more important to your nonprofit&nbsp;as the number of small-gift donors declines. That\u2019s why knowing how to cultivate your major donors is imperative to the financial well-being of your nonprofit. Are you in need of a major donor cultivation strategy? Read on for our major donor cultivation best practices [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":27348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[271,275],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Major Donor Cultivation Best Practices - Fundraising Blog for Nonprofit, Educational, and Faith-Based Organizations<\/title>\n<meta name=\"description\" content=\"Your major donors give a lot because they care a lot. But how do you find and retain them? The answer is Major Donor Cultivation. 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