7 Cold Calling Methods That Work Best For Fundraising
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Discover the cold calling methods that bring in more donations for your nonprofit fundraising endeavor.
The strategies for cold calling that are successful for sales or service-oriented businesses are not often the same ones that are successful for fundraising efforts for nonprofit organizations. In point of fact, there are a few essential distinctions between the two scenarios. When you make the majority of your calls to raise money, for instance, you’re not selling a product or a service, but rather a concept.
People who contribute to your fundraising won’t get anything in return that can be physically held. They are not going to get a membership to a fitness club, any financial guidance, or life insurance. Instead, when consumers provide you with their credit card information, they are buying into a promise that you have made. They have the impression that your charitable organization will use the money to feed children who are going without food, provide medical services to those who do not have insurance, or provide veterinary treatment for animals that have been abandoned.
There are a variety of novel ways that may be used in fundraising, some of which have the potential to be even more successful than the more conventional cold calling strategies.
7 Cold calling methods that will bring in bigger donations
- Remember that these calls are not entirely cold. If you are phoning them, there is a strong probability that they are already on your mailing list, have given to your organization in the past, or have attended an event that you have organized in the past. Even if a call for fundraising can be considered a “cold call” in the sense that you haven’t spoken to the person before, they still have at least some interest in the organization that you work for.
- Differentiate your prospects. In particular, when it comes to fundraising, the techniques you use for cold calling need to be able to discern between former contributors and those who have not yet contributed.
- Call previous donors first. In the realm of commerce, your most lucrative clients are often those with whom you have previously established business relationships. This is also true for monetary donations and other forms of fundraising. Your organization is most likely to maintain financial support from its former contributors. Yes, you should contact everyone on your list; but, you should make every effort to start from the position from where you have the highest possibility of being successful.
- Write and use a script. I’m sorry if this seems like a drag, but there are a few pieces of information that really must be included: Having a script will assist you in remembering that information. It is of the utmost assistance if you have a volunteer organization that is making calls on your behalf. This does not imply that the members of your team need to read in a monotonous and robotic manner throughout every call. In point of fact, you want the calls to have some personality. It’s OK to strike up a conversation as long as the person you’re chatting with is interested in what you have to say. This is how you cultivate connections with people. It is essential to have a copy of the script on hand at all times in order to provide a road map to anybody who may want it.
- Be clear about your mission, goals, and prior successes. People like hearing a good tale, which is why one of the most effective strategies for fundraising through cold calling is to include a compelling narrative in your presentation. You might even want to include this in your script. Bring your company’s mission to life by providing specifics about the achievements and successes it has achieved in the real world.
- Be ready for rejections. Rejection is a component of making cold calls that no one enjoys, yet it’s unavoidable. However, if you are engaged in fundraising, you are in possession of a hidden weapon: you have the ability to modify the request. Without a doubt, it would be fantastic if the donor closed each conversation by presenting a really significant donation offer. Don’t give up simply because the large present you were hoping for didn’t come through. Work backwards from the request you made at the beginning of the call if it turns out that the call was successful and that all indications point to a favorable conclusion. If you don’t get approved for a gift of $200, how about $100 instead? Still too much to handle? Perhaps $50 will do? Or maybe an annual sustaining membership that costs $15 per month (which, over the course of time, amounts to nearly as much as your original request of $200).
- Call to say thank you. One of the most effective approaches for fundraising over the phone does not include making cold calls or fundraising calls at all. To put it simply, you do not want your sole encounter with donors to be the phone conversation in which you beg for financial support. You should make it a point to contact each and every one of your prior supporters at least once every year, preferably a few months following a successful fundraising event. Keep things simple. “Hey there, this is Devin from organization XYZ writing to let you know how much we value and appreciate your contribution. You’ve helped us reach our __ target. ” A phone call to personally express gratitude to donors is one of the best ways to ensure that future fundraising efforts are fruitful.
Regardless of the result of any conversation, you should always make it a point to express gratitude to the other party for their time and attention. You never know when a call in the future may result in anything, therefore you always want to make the greatest possible impression you can.