72. Six Steps to Creating A Successful Fundraising Plan in 2024
About this episode
Do you find yourself in the challenging position of overseeing a struggling fundraising plan? Are your efforts falling short, leaving you wondering how to breathe new life into your organization’s financial foundation? Fear not, my fellow changemaker, for I am here to guide you through a transformative journey that will reignite the flame of success in your fundraising endeavors. In the next few minutes, we’ll unravel the secrets to creating a highly effective and successful fundraising plan that yields significant results. Are you ready to turn the tide and pave the way for a brighter future for your cause? If so, read on, for you’re about to embark on a journey that will redefine your approach to fundraising and, ultimately, change lives.
Step 1: Assess Your Donor Data, Fundraising Performance & Trends
Embarking on a successful fundraising plan is akin to setting off on a voyage of discovery. But before you unfurl the sails, you must chart our course by assessing where you currently stand. Begin by delving into your donor data, dissecting year-over-year gross contributions, and examining donor retention trends. Yet, the adventure doesn’t end there; it’s about exploring the nuances that harbor the key to unlocking profound insights. Armed with this knowledge, you’ll not only make informed decisions but also set the stage for the success that lies ahead. This step is the compass that points you in the right direction, guiding your journey towards fundraising triumph.
Step 2: Determine What’s Working and Could be Enhanced or Scaled
As the path becomes clearer, it’s time to illuminate the successes that have been hidden in the shadows. Identify the stars of your fundraising campaigns, events, and initiatives—the ones that shine brightest. These triumphs hold the key to success criteria that can propel you not just for the coming year but for years to come. Think of it as discovering the secret sauce that supercharges your future endeavors. Building on these successes is the beacon that guides you to new heights, ensuring that your fundraising strategies evolve and thrive.
Step 3: Determine What’s Not Working and Could be Re-imagined or Retired and What’s Missing
Our journey isn’t solely about celebrating victories; it’s also about illuminating the areas that need attention. Identify the campaigns, events, and initiatives that might be falling short, akin to uncovering hidden treasures. The real detective work begins as you pinpoint the root causes of these challenges—fixable or farewell? It’s a delicate dance that may involve addressing emotionally attached board members and others reluctant to let go. Simultaneously, explore what might be missing from your strategy, filling the gaps to fine-tune your approach for even greater success.
Step 4: Strengthen Your Fundraising Foundation: Annual Fund, Major Gifts, and Planned Giving
Envision your fundraising strategy as a harmonious symphony, each component playing a vital role in the masterpiece of success. At its heart lies the integration of your annual fund, major gifts, and planned giving efforts. This orchestration ensures your donors gracefully progress through the pipeline, deepening their connection with your cause. This step is the magic where data-informed, human-centered strategies merge to create a fundraising symphony propelling your mission forward. It’s a dance where every supporter becomes an integral part of your cause, moving seamlessly through the stages of engagement.
Step 5: Invest in Innovation to Enhance Your Fundraising Results
In the ever-evolving landscape of technology, a plethora of tools awaits, from AI-informed behavioral modeling to the power of ChatGPT and beyond. However, understanding how to leverage these innovations to supercharge your fundraising can be daunting. Fear not, as in this step, you’ll delve into the exciting realm of innovation. Unravel the mysteries of what these tools are, how they work, and when to deploy them for maximum impact. Explore the risks and rewards, aligning them with your organization’s risk tolerance. Additionally, invest in the necessary staffing and professional development to empower your development team, equipping them with the skills to elevate your fundraising efforts.
Step 6: Create a Structure for Accountability, Performance Measurement & Reporting
Renowned management guru Peter Drucker emphasized a “spirit of performance,” embodying strong moral values, relentless pursuit of results, and service to the greater good. Step 6 is where you’ll delve into the nuts and bolts of high performance, sculpting an accountability structure with clear roles. Identify key performance indicators that go beyond raising contributions and craft a transparent plan for reporting—what, to whom, and how often. This step ensures everyone is on the same page, fostering transparency on the journey to success. Finally, lay the groundwork for celebrating both individual and team triumphs because success deserves a round of applause.
Following these six steps will equip you with the tools and insights needed to breathe new life into your organization’s financial future. From assessing your starting point to celebrating victories, each step is a crucial part of a holistic strategy. As you implement these strategies, remember that success is not just about meeting fundraising goals; it’s about creating a positive impact on the lives of those you serve.
I invite you to share your thoughts in the comments below. Let’s build a community of changemakers, supporting one another on the path to creating a better world through effective and impactful fundraising. Together, we can make a difference.
With boundless gratitude,
Tammy Zonker
ps – If you are serious about creating a custom, data-informed, human-centered annual fundraising plan that will help you raise more money, then you must check out my 6-week masterclass. Learn more about it here.
“Your fundraising plan is about sculpting a legacy that transcends dollars and cents, resonating in the lives touched by your mission.”
Tammy Zonker, Major Gift Expert & Keynote Speaker
Resources mentioned in this episode
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