Skyrocket Your Fundraising: The Five-Step Foolproof Method For Any Ask

 

An NYSAE Educational Program
Monday, October 21, 2019
Vanderbilt Suites, NYC

By Susan Fields

“The win is the act of making the Ask. Let go
of the outcome and it will find you.”
Laura Fredricks, JD
CEO and Founder of THE ASK

 

Membership associations are facing the increased challenge of raising non-dues revenue to keep their organizations afloat. For this reason, the art and science of soliciting sponsorships, foundation grants, and contributions from individual donors has become an essential skill for executives of these organizations. In reviewing the concepts below, keep in mind that the greatest predictor of success is the quality of our communications in asking others to collaborate with us in creating positive outcomes. What you are about to learn will apply to every part of your life as asking is something that we do every day with almost everyone we encounter.

THE FIVE-STEP FOOLPROOF METHOD FOR ANY ASK

1.  Know exactly what you want. We all know what we are asking for, but without dates, times, and numbers, our requests will have limited power and clarity. You are far more likely to get a raise in salary if you state that you need an increase of $5,000 beginning on the first day of the next fiscal year. When raising money for a $1 million scholarship endowment, tell the potential donor that you need $100,000 by January 1 to kick off a campaign to attract nine additional gifts by the end of June. Keep in mind that all asks are made up of two sentences and a question: 1) Explain what you need. 2) Describe how they can help. 3) Ask what they can do. This allows for a seamless ask with you talking 25% and the prospect talking 75%.

2.    Prepare the conversation. Write fifteen responses you think you will receive as a result of your ask. This strategy prepares for resistance from the prospect as well as positive outcomes. Examples of questions a potential sponsor might ask include: Why did you select us? Why do you need the money by August 15th? How will the contributions be used? Don’t forget to include positive reponses that you have aleady received or suspect you might hear such as: I need to think about this? I would like to discuss with my management. Yes, I can do this!  Can I pay this with a pledge? I would like to see your organization’s budget. Just because you haven’t gotten a full-out yes doesn’t mean your efforts have failed. You can learn a great deal about a contributor by the questions they ask and formulate a winning response. When a prospect indicates they need to speak to someone else or require more information, they are in the ballpark and ready to hit you a home run.

3.  Deliver with confidence. It takes only seven seconds to make a first impression. Most people believe that their choice of words has the greatest impact in a face-to-face meeting, when it is their posture, demeanor, eye contact, handshake, and smile that deems them competent and trustworthy. It’s a good idea to practice in advance by recording your voice to determine its tone—not too loud or too soft. Because the goal is to move the prospect to action, the absolute best way to ask is in a one-on-one meeting. Sitting across the table in a relaxed and calm environment increases your chances of getting a positive response by seventy-five percent. Emailing, texting, phone conversations, or video chat will never compete with the face-to-face ask in getting what you want for your organization. 

4.   Clarify what you think you heard. If you have made the ask and the propect says, “I will have to think about it,” do not despair! You are already 75% to a YES. In order to avoid guessing what they are thinking, do not hesitate to ask the magic question: “Thank you for your time in considering this opportunity. Would you be willing to share what you are thinking about? We are here to help.” This is about the power of questions as well as the tone of your voice. If you are patient and remain silent, the prospect will respond. Possibly the person you are asking does not have the power to make the decision or they wanted their colleagues to be present during the ask. They may tell you that the funds will not be available until a later date. Once you have learned the reason for their hesitation, you will be on the way to responding to their concerns and scoring a win.

5.   Do not leave the meeting until you have a date to followup.  After you have brought the prospecdt to a place where she is about to make a commitment, make certain to set a specific date and time when you will make contact to close the deal. Vague plans such as “I will call you in two weeks” or “Let’s meet sometime in January to discuss this further” are open-ended and can result in “kicking the can down the road” for weeks or even longer. Be specific—“How about I call you at 9:00am next Monday” or “Lets set a date for lunch after the New Year. Is January 5th good for you?” Doing this will not only increase the number of your gifts, but also speed up the time that it takes you to raise them.