What are the best practices for creating a sustainable and scalable fundraising plan?

2 Identify your target audience

The next step in creating a fundraising plan is to identify your target audience. Who are the people or entities that are most likely to support your cause and give you funds? What are their motivations, interests, preferences, and challenges? How can you reach them and engage them effectively? Your target audience may include individuals, foundations, corporations, government agencies, or other organizations. You should segment your target audience into different groups based on their characteristics and potential to give, and tailor your fundraising messages and strategies accordingly. For example, you may use different channels, formats, and tones for communicating with individual donors versus corporate sponsors.

3 Develop your fundraising strategies

The third step in creating a fundraising plan is to develop your fundraising strategies. How will you approach your target audience and solicit funds from them? What are the best methods and tools to use for each group? How will you diversify your fundraising sources and reduce your dependency on one or a few donors? Your fundraising strategies may include grant writing, direct mail, online giving, events, peer-to-peer fundraising, major gifts, planned giving, or other techniques. You should choose the strategies that match your goals, audience, capacity, and resources, and that have proven to be effective in your field or sector. For example, if you are seeking funds from foundations, you may need to write compelling proposals and reports that demonstrate your impact and credibility.

4 Plan your fundraising activities

The fourth step in creating a fundraising plan is to plan your fundraising activities. What are the specific actions and tasks that you need to perform to implement your fundraising strategies? When and how will you execute them? Who will be responsible for them? How much will they cost and how will you fund them? Your fundraising activities should be detailed, realistic, and feasible, and they should follow a clear timeline and budget. You should also assign roles and responsibilities to your staff, volunteers, board members, or other stakeholders who will be involved in your fundraising efforts. For example, if you are organizing an event, you may need to secure a venue, invite guests, promote the event, collect donations, and thank the attendees.

5 Monitor and evaluate your fundraising results

The fifth step in creating a fundraising plan is to monitor and evaluate your fundraising results. How will you track and measure your fundraising performance and outcomes? What are the indicators and metrics that you will use to assess your progress and impact? How will you collect, analyze, and report your data and feedback? How will you use your findings to improve your fundraising practices and plan for the future? Your monitoring and evaluation system should be consistent, reliable, and transparent, and it should provide you with actionable insights and recommendations. You should also share your results and learnings with your donors, partners, beneficiaries, and other stakeholders, and acknowledge their contributions and support. For example, if you are receiving a grant, you may need to submit regular reports and updates to the funder and showcase your achievements and challenges.

6 Review and update your fundraising plan

The sixth step in creating a fundraising plan is to review and update your fundraising plan. How often will you revisit and revise your fundraising plan? How will you adapt to changing circumstances and opportunities? How will you incorporate feedback and lessons learned from your previous fundraising activities? Your fundraising plan should be a living document that reflects your current situation and needs, as well as your long-term vision and goals. You should review and update your fundraising plan at least once a year, or more frequently if needed, and make adjustments and improvements as necessary. You should also celebrate your successes and recognize your efforts and achievements. For example, if you have reached or exceeded your fundraising goal, you may want to set a new or higher goal and explore new or additional fundraising strategies.