Meeting with Donors & Prospects July 18, 2017
Keturi Beatty •
Associate Vice President of Institutional Advancement, Texas A&M University Commerce
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Previously served as Senior Director of Development at the University of North Texas, College of Education, and various roles at the Hockaday School including Director of Stewardship, Major and Planned Giving, and the Director of Annual Giving
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A frequent instructor with CASE, CASE IV Board Member
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M.A. in Communication from the University of North Texas and a B.A. in Communications from the University of North Carolina at Wilmington Page 1
Agenda • Getting the visit • Preparing for the visit • Making the most of your visit • Following up after the visit
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GETTING THE VISIT
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Why face-to-face? “You won’t get milk from a cow by sending a letter. And you won’t get milk by calling on the phone. The only way to get milk from a cow is to sit by its side and milk it.” – Si Seymour, fundraising guru
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Why face-to-face?
“In the time of digital media, face-to-face communication is even more important.” – Jim Lewis, VP Texas Wesleyan
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Make time for face-to-face • Ruthlessly prioritize • Make it a habit – Assign certain days as visit days – Find time every day to make cold calls – Consistency is critical
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Identify who to call • Look in data for clues: intent & capacity – Consistent giving – Event attendance – Wealth ratings – Your school social media activity • “Let annual giving do its job and serve its purpose.” – Mandy Baker, UNCW, Development Officer, Leadership Alumni Giving – Start with consistent donors $250+ (more likely to eventually make $1k gift) Page 7
Be determined – get the visit • What’s most difficult is getting the gift • If you get the visit, you’re 85% of the way there to get the gift • Call it a visit (not an appointment)
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Secure the visit • Blend of letter, phone & email – Handwritten notecard – Formal letter – Jerold Panas’ examples in Asking – Follow up with phone call – Email • Use a peer when possible – remember, you are staff Page 9
The peer-to-peer approach • You:
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On the other hand, your peer… • Open the door • Who can they not say no to?
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When making the call • Practice your opening ahead of time • Smile • Try standing • Have your calendar handy – give a choice of dates • Keep small-talk brief – get to the point (the visit!) • Be upfront about the time you want to spend (and stick to that time – donors are busy people) Page 12
When asking for the visit • Be transparent & upfront • Who are you? State your role • Why do you want to meet them? – Thank them for generosity in person – Hear about inspiration behind their giving – Ask about their experience at ____ School
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Suggest a location • Make the prospect feel comfortable • Go to them, their turf: – Home – you can gain a lot of insight here • Pictures – who is important to them? Vacations? • What fills their home – what is important to them? Capacity? – Lunch or coffee/tea – Office
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After you schedule the visit • Send a thank you & confirm date and time • Call the next prospect – you’re on a roll!
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Get creative • Peers help open doors (and difficult to say no) • Listen to your volunteers • Use phonathon callers to identify people who may be great to visit
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PREPARING FOR THE VISIT
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POLL: Do you have monthly visit goals?
• Yes, more than 10 per month • Yes, 5-10 per month • Yes, fewer than 5 per month • No
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How to prepare for your visit • “Preparation is as important as execution.” – David Loyless, Paradigm Advancement Group • Understand: – The cause – The prospect
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Understand your cause • Authenticity • You must be fully-committed to the worthiness of the cause – Institution – Project – Value – Impact Page 20
Research your prospect: WHO • Who is this person? • What is it about this person that makes them the best donor at this time? • Who knows them and who can they NOT say no to? – Peers – Faculty – Leaders Page 21
Research your prospect: WHAT • What is their passion? Where have they given? – Your institutions – Other charities & causes • What have they given? How much? – Assess possible gift range – Major gift = 10-25x consistent annual giving (i.e., if they give $10k annually, present range of $100k-250k) • How often? What giving vehicles? – Annual, major gifts, planned gifts, stocks, annuities, etc. Page 22
Donor will be wondering… • How much? • What for? • How soon? • Why me? • Prepare answers for these questions!
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Have a game plan • Always go in with a plan • Know what you want going in • Always leave having asked for something: – Can I come back again? – Is there someone else I should see? – Would you be willing to serve as a volunteer? – Oh yeah, gifts too • Prepare for range of options Page 24
Plan your time spent – and stick to it • An asking visit – 45 minutes: – 5-10 minutes: Catching up – 10-15 minutes: The cause and why you think they’d be interested – At 25 minutes: Make the ask and then close – Last 5-10 minutes: Why this is a good fit for them, back and forth – At 45 minutes: Get out! (unless they ask you to stay…) Page 25
Before you meet, remember to… • Remind your prospect – send confirmation (email or note) • Practice & role-play • Prepare a leave-behind – Folder with information – Small gift – Business card – Thank you note from Dean Page 26
MAKING THE MOST OF YOUR VISIT Page 27
Arriving at the visit • Arrival time: – Home: On time – Office: 5-10 minutes early – Restaurant/coffee shop: 15 minutes early • What to wear: – School colors – A smile, make eye contact (with your phone away) – Mirror prospect & elevate
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Play the part • Mirror the prospect: – Dress – Pace – Volume – Posture – Get in sync
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Ensure the prospect feels appreciated • Start and end with thanks – “Thank you for your…”: • Generous support • Time • Advocacy • Make your prospect feel heard – Use their name – Make the prospect feel comfortable – Ask open-ended questions Page 30
Ask strategic questions • Ask open-ended questions about: – Them personally – Their relationship to your school – “Tell me about your experience at ____?” – Their passions & motivations – “Why did you choose ____?” – Why they give – “Why do you give back?” – What keeps them giving – “What is meaningful to you about _____?” • Probe: How so? Why? Tell me more about that… Page 31
Listen, listen, listen • Listen and align • Know when to speak and when to listen
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Shut your mouth and listen • Talk no more than 25% of the time • Nonverbal, active listening: – Nod your head – Lean forward – Maintain eye contact • Reflect back: – “What I’m hearing is…” – “It sounds like you’re…” Page 33
Adjust your mindset
Seek to understand, not to be understood
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Make the ask • After you listen • After you align • After you thank the prospect for all they have done for the institution/project/passion area thus far • “
, will you consider a gift of ______ for ________?” • Awkward silence… Don’t puncture silence too soon • Listen • Have a firm follow-up Page 35
But what if they say no? • Find out what doesn’t align. Are they saying no to: – Institution?
– Amount?
– Purpose?
– Timing?
• Have another ask: – Monthly?
– Meet again?
– Volunteer?
– Referral? Can they introduce to someone else? Page 36
FOLLOWING UP AFTER THE VISIT Page 37
POLL: Do you send handwritten notes to prospects after a visit?
• Yes • No • I don’t make visits
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After the visit • Handwritten thank you note – Idea: bring hand-addressed, stamped envelope and notecard in the car and write note as soon as you finish visit • Follow up as agreed in meeting • Contact report ASAP – Outline next steps – How can you move this prospect forward? Page 39
Remember to: • Listen • Listen • Listen • Use their name • Make the donor comfortable • Utilize and listen to peers & volunteers • Be pleasantly persistent • Follow up as you say you will • Celebrate the joy of giving – make the donor the hero Page 40
Pitfalls to avoid • Failing to probe • Poor listening • Making assumptions • Talking about the institution’s needs and not the donors • Skipping ahead to the ask • Skipping the ask all together • Making it about you • You are the liaison and simply make their philanthropy possible Page 41
Key Takeaways • Make time for your calls • Prepare for the visit • Listen, listen, and listen some more • Make the ask & shut your mouth • Follow up • Infuse process with spirit of gratitude
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