What to look for when prospecting for donors

I was recently asked by someone if, “complete strangers are more generous than close friends?" She asked because she is continually surprised by who donates and who does not.

My short and simple answer was “no.”

My longer answer was that when prospecting for potential donors one traditionally looks for three factors: linkage, interest and ability. The stronger each of these qualities, the more likely your prospect is to make a gift.

Linkage means the closeness of the relationship between you and the potential donor. It is the most critical factor in determining whether someone will be inclined to a good cause. In surveys, the number one reason people give for donating is that someone they knew asked. The fact is, people are more like to give to an individual representing a good cause, rather than a good cause all on its own.

Interest means just that, is the prospect interested in your good cause? How do they spend their time and money, what is their family history, and most importantly, what are their values? At its core, fundraising is simply offering donors an opportunity to act on their values. When you ask somebody to make a donation, you are helping him or her become the hero of their life story by making a difference in the world.

Last -- and of surprisingly least importance -- is ability or how rich someone is. The wealthy may have more money to give away, but statistical speaking lower- and middle-income people give a higher percentage of their wealth than those with higher-incomes.

One other important factor is how routinely has the prospect ever given in the past to other causes? Some people are givers; others are not. Usually this has to do with their own relationship to money, something constructed within all of us at a very early age. It is easier to secure gifts from those who learned “to whom much is given, much is expected.” On the other hand, if they learned, “money is the root of all evil” or “we need to save money for a rainy day,” my friend may have some barriers to overcome. The successful fundraiser is one who actively listens to prospective donors, and through reporting, assessing and reframing helps them build a more healthy and generous relationship to money.