In this lesson, you will learn how to make the ask and handle objections and negotiation.
At the end of this lesson,
you will be able to discover a simple phrase to use to ask for a major gift,
identify the essential components of making a good ask,
practice three closing techniques that are effective in soliciting a major donor,
recall the five steps to handling objections well,
explain what you will do to wrap up the solicitation phase of your program,
and review successes and errors to improve your experience.
Let's get started with this lesson.
The age old lesson of fundraising at any level,
is that asking for the gift is the most important.
The biggest mistake in major gifts fundraising is failing to ask for the gift.
After you've dealt with the prospects questions and concerns,
it's time to ask for your gift.
When you believe you know what to ask for,
in what amount and in what form,
either cash or assets or some combination,
you know who should ask and you sense the time is right, make your ask.
Even if everything's not perfect, ask.
If you wait for everything to be perfect,
you may never get around to making your ask.
Timing is important.
So measure your timing as best you can but always make your ask.
It is important that the ask be a positive experience,
for the asker and the prospect and is made in person,
when you're cultivating a major gift.
Be sincere, direct, and specific.
One of the most important reasons someone makes a gift,
is that someone asks them.
Knowing that what could hold you back?
Perhaps fear.
How many times have you heard it doesn't hurt to ask?
The worst thing that can happen is they say no.
Well, it's intimidating to ask others to part with their hard earned cash.
There are four common fears when asking for major gifts.
They are, the fear of rejection,
embarrassment, failure, and mandatory reciprocity.
Fear of rejection is natural.
Most people don't handle rejection well.
People who fear rejection believe that it does hurt to ask.
Competition for meeting and assigning quota in a campaign is intense.
No one wants to be embarrassed at a fundraising meeting by
turning in a report that has yielded poor results.
Especially, in front of their peers.
No one wants to fail.
Properly soliciting major gifts,
takes a serious time commitment,
so failing to produce results can be discouraging.
And finally, the fear of mandatory reciprocity comes into play,
when you know the person you are soliciting will probably
ask you for a similar gift to their favorite charity.
You solicit a gift for the Boy Scouts and the prospect says yes.
Then a few months later,
they ask you to give to the Girl Scouts.
Some think, if I could find the right words,
then I would be successful in calling on major gift donors.
Some ways of presenting a gift opportunity are better than others.
Carefully choosing your phrases,
can reduce the discomfort level for everyone.
However, words should not occupy center stage.
You should not focus on the verbiage,
while neglecting the non spoken but essential elements of gift solicitation.
Building relationships, establishing mutual trust,
seeking answers and solving problems,
take precedence over any magic words.
However, finding exact words to say when making
a major gift solicitation can build confidence.
The most effective technique I've seen,
is to rehearse the solicitation wording.
Most people find a version of the following works well for them.
"We would like to ask you to consider a gift of,
insert a specific dollar amount here,
to, insert a project or fund or your nonprofit's name here."
That's it. I've seen these simple words used to raise millions and millions of dollars.
However, a sincere request from a person of integrity,
can overcome the most awkward wording.
A good ask, is an actual question,
inviting a person or company to take
a specific concrete step on behalf of your organization.
Let's break that down.
First, it has to be an actual question.
It starts with words like,
will you or would you be willing.
When you talk but don't actually ask a yes or no question,
it's not an ask.
Saying things like, I hope at some point you will consider,
or I'd really like it if you would,
is not an effective way to make a fundraising ask.
An ask invites a person to take a concrete step.
It need not be writing a cheque.
It could be to come to an event or pass out flyers,
but it needs to be a concrete step.
Asking someone to think about your role within our charity, is not sufficient.
Lastly, an ask should be specific.
Ask for a specific amount or attendance at
a specific event or volunteer hours for a specific project.
Asking, would you contribute 500 dollars to our school,
is considerably more effective than asking,
would you make a contribution to our school?
Likewise asking, will you come to an event some time?
Is not nearly as effective as asking,
will you come to the chili cook off on January 21st?
People are much more likely to respond at a higher level,
when they're asked for a specific amount or to take a specific action.
Once donors believe that your cause truly matters,
giving almost becomes an afterthought.
Of course, they'll give. The only question becomes,
how much to ask for?
It is common practice to ask for a larger gift than is expected.
Generally, about twice the size reasonable to be hoped for.
This gives you a stronger negotiation position and usually helps get the gift needed.
If you have done your prospect cultivation properly,
your prospect should not be surprised you asked for a donation.
Name a gift level you think might be appropriate.
Explain exactly how the gift will be used to support your institution.
If you feel it is appropriate,
touch upon how the gift will be recognized.
Next let's move to closing and follow up.
