Finally in the jargon-busting section, we have a post for those of you who prefer to focus on individual relationships – in this post we’ll be covering the most common buzz words from both major donor and individual giving fundraising.
As this is largely a post of sub-sections, let’s get started…
The seven stages of solicitation:
Major donor fundraisers are often expected to go through seven stages with any potential donor (or prospect) and these are as follows…
1. Identify – fairly self-explanatory, identifying someone with the potential to give
2. Research – researching their connection to the cause, reasons they might give and connections they might have (whether to trustees or existing supporters)
3. Plan/cultivate – getting to know the potential donor and moving them through a journey until they feel ready to ask
4. Ask – asking for the donation
5. Close – going through with the donation/fulfilling the pledge etc
6. Thank – both the stage of an immediate thank you and following up with a report on how the donation has been spent
7. Steward – keeping that donor feeling valued until they skip back to stage 3 or 4.
The 9:4:1 principle:
This is the idea that major donor fundraisers will identify 9 major donor prospects, of which they will ask four for a donation and one will say yes.
The four motivation types:
There are four commonly referred to ‘primary reasons’ that people give to a cause, and these are as follows…
1. Philanthropy – this is the purest form of altruism, where someone is driven to give because they can see the impact that the donation will have.
2. Affinity – this is where someone has a personal connection to the cause, whether through having been a beneficiary of the charity or similar.
3. Mutual benefit – this is often the case in corporate partnerships, where the donor receives (for example) PR coverage or tax relief out of their donation.
4. Social recognition – this is where they want to be seen as a good person in their community, and often results in things like a plaque on the wall or a wing of a hospital being named after the donor.
These acronyms stand for High Net Worth Individual or Ultra High Net Worth Individual who often have the capacity to give a major donation.
With these terms under your belt, you should be able to better understand job descriptions and make yourself stand out in job applications – to return to the main dictionary post, click here. Alternatively, return to the homepage of the guide to entering fundraising here.