Congratulations, you’ve secured a meeting with a potential major donor. The hardest part is over, but there’s still a lot of ground to cover. If you’re new to prospect visits, consider the following:
Do some prep work
You’ve already done some research about your potential benefactor but it doesn’t hurt to do a little more. Prior to the meeting, you should have a solid understanding of what your prospect most cares about, said nonprofit consulting firm Big Duck. Is he or she affiliated with other charitable organizations similar to yours? How well does your prospective supporter know the work you do? You want to click with your donor. The more you know, the easier it will be.
Once you know a bit about your donor prospect, you can plan a strategy. Study any notes in your donation management database and choose some concrete objectives before you head into the meeting, suggested Fundraising Success Magazine. Try to find out whether your prospect is likely to be driven by emotionally powerful stories of your organization’s success, or whether he or she is more apt to respond to concrete numbers. If you don’t know, be prepared to unfold either strategy during your face-to-face meeting.
Knowing your prospect’s giving history and net worth can help you figure out how much you should ask for. If this data is nowhere to be found, consider this an initial meeting to get to know the person. You can wait to make the ask until you’ve had two or three in-person conversations.
Don’t overlook the importance of knowing a thing or two about your prospect’s hobbies and interests outside of philanthropy. These tidbits can help you build a more organic conversation during your visit, said career consulting firm The Muse. The best way to find this information without being obtrusive is to browse public social media pages. More than anything, you need to know why this person is most suited to helping your nonprofit achieve its current goals.
Be engaging
Avoid boring your donor. You can’t drum up excitement for your cause if the other person is unable to digest what you’re saying. Listening matters more than anything. Aim to do less than half of the talking. Remember the point of the visit: To know your donor better and to find out whether your interests align before asking for support. Focus on asking interesting questions in response to what the donor voluntarily tells you. If you have the opportunity, draw parallels between your mission and your prospect’s interests and passions. But don’t force the conversation! If you’re actively listening, you can easily navigate your responses.
If this is the first time meeting your potential donor, think about how you’ll break the ice. If he or she already has a connection to someone you know, such as a board member, you can use the mutual connection as a springboard for introductions. If you breed some familiarity at the outset, you’ll set the other person at ease.
Be informative
Make sure to send your donor home with some information about your organization. This can be a copy of your case statement, for example. Make sure to clearly display your website’s address on all printed materials. This gives your prospect a chance to touch base on anything not covered during your visit. It also allows him or her the time to think about a potential donation, free of pressure.
Follow up
You can use your business management software to record a summary of your meeting. Make sure to send a thank-you email within 24 hours of your meeting. Personalize your gratitude, making specific references to your conversation. Invite your prospect for a second meeting. If the timing for a donation is premature, focus on fostering a deeper relationship so you can build future possibilities.
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