Fundaising in a COVID-19 World
It was the best of times, it was the worst of times, to fund raise that is.
Things are going great. The bull stock market keeps rising, unemployment is decreasing, the economy overall is humming along with no look of slowing down. Donors are increasing their support to your organization, and you’re seeing more and more donors use their IRA minimum distribution to support your cause because they tell you, “I don’t need it.”
That was yesterday. Today, COVID-19 has changed everything in the world of non-profit fundraising. I remember when the 2008 financial crisis took a toll for sure, and many organizations saw their annual support decrease and a great number of capital campaigns were either put on hold or canceled altogether. It was truly an unsettling time. However, I recall that our annual support increased in 2008-2009 because we didn’t back away from communicating our important mission and how it was impacting the community. Our donors responded with additional gifts and upgrades to their usual support. Major gifts increased as well.
But this crisis we are facing with COVID-19 is different. In 2008, I remember talking with donors who were worried about their retirement funds, their estate plans, and their overall financial well-being. But they weren’t worried about their health; and the possibility of becoming seriously ill, or even dying.
As I’m writing this, I am getting bombarded with messages on my iPhone of more and more people testing positive for the Coronavirus. It’s almost surreal, and to say it’s not scary, is a lie. It’s scary.
Fundraisers have a job to do, and despite what’s happening in the world at large, we need to produce income for our organizations. From principal and major gifts to annual support, our job is to generate revenue. But how do you do that when everyone is hunkering down at home, being bombarded by news reports of how bad this situation is around us. We’ve been told for years that besides the amount of money raised, the most important measurement metric is face to face communication. And yes, there is no substitute for a face to face visit with your major gift donor or prospect. It’s how lasting relationships are formed, which is not to say that meaningful and important interactions can’t take place over the phone, through a virtual meeting, or email. Personal handwritten notes are EXTREMELY meaningful and important.
Now is the time to trust your gut. It’s not the time to ask for face to face meetings. It’s the time to thank your donors, to thank them again, and to communicate often the impact of their investment in your mission. I’ve read several posts where others are suggesting you offer a Zoom or Skype with your donors, but is that necessary? Perhaps, but why not give them some breathing room right now…. take a pause…send some information their way, that handwritten note or a video, that further connects them to your mission. My gut tells me that once we are past this health crisis, your donors will be anxious for some face to face interaction and they will be grateful that you didn’t push a face to face meeting because you are being measured on how many you have each month.
Let’s all be Donor-Centric and take a step back for a moment, while continuing to further the relationship in a thoughtful and different way.