- Segment your donors by giving frequency.
- Further segment them by average gift size.
- Identify prospects who have given consistently for 3 years or more.
#1. Segment your donors by giving frequency.The first step in cleaning your donor database is to sort your donors out by giving frequency. The more frequently a volunteer or event attendee has given, the more likely they are to give major gifts in the future. Feel free to eliminate donors who haven’t given in over 2 years.
#2. Further segment donors by average gift size.Once you’ve narrowed your database down to your most frequent and involved contributors, you can start sorting by gift size. When you’re on the lookout for major gift donors, the greater the contribution, the better. Sort out smaller contributions, but don’t eliminate them from your database entirely.
#3. Identify prospects who have given for 3 years or longer.Major gift donors will be most likely to have given over a longer period of time. Organize your database accordingly. Look for donors who have given for at least 3 years, as these prospects will be the most probable major gift candidates. Again, you won’t want to eliminate those who’ve given for fewer than 3 years, but for the purposes of this exercise, you can push them aside. With a fresh, squeaky clean donor database, your organization will have a clearer idea of the prospects you’ll need to focus your efforts on. Takeaway: You can narrow your organization’s list of major gift prospects by narrowing your candidate pool in 3 easy steps. Speaking of databases, did you know that mobile giving provides nonprofits with easily exportable data? It’s true! With industry-leading mobile fundraising technology, your nonprofit has access to a bevy of donor information, such as:
- Phone number,
- Donation amount,
- Time of donation,
- Donation frequency,
- Donation type,
- And more!
- Learning more about your volunteers and donors.
- Targeting major gift donors through their preferred communication channels.
- Making donation processing easier, so donors can give however they’d like.
- Tracking donor interactions to sharpen your nonprofit’s strategy.
- Retaining contributors through expedient correspondence.
- Previous donations to your nonprofit.
- Donations to other nonprofits.
- Personal information, like volunteering habits.
- Nonprofit involvement, like board membership.
- Real estate ownership.
- Business affiliations.
- Political giving.
- SEC transactions (stock holdings and such).
There you have it: all 8 strategies for procuring major gifts from volunteers and event participants! From beginning to end, you read about:
- How organizing your database can get you started off on the right foot,
- How mobile giving technology can bring you all sorts of new data,
- How prospect research can help you sort that data,
- And finally, how you can use all of that info to cultivate and steward potential donors.
- Prospect Research Guide. Prospect research can help you learn more about your volunteers and donors to creative even better fundraising strategies. Learn what your organization needs to conduct prospect research.
- Online Giving Tools. No peer-to-peer campaign is complete without power online donation tools to make it easy and convenient for donors to give. In this article, get 11 top performing fundraising tools.
- Peer-to-Peer Fundraising Tips. For more ways to amp up your peer-to-peer campaign, check out these 3 expert tips.