Fundraising Benefits
| Summary: In fundraising, pay attention to
psychological motivation - People always want to know what's in it for them.
Your fundraising benefit must be quickly and clearly explained in terms of
"What's In It For Me" |
What's In It For Me?
Believe it or not, providing a good answer to the question of "What's in it
for me?" is
extremely important to your fundraising success.
And why is that?
Because ultimately, everyone's focus is on themselves.
As the saying
goes, "We're all starring in our own movie. "
You need to design your fundraising campaign so that all the
individual
"movie stars" receive feel-good roles, ones that bring
out the
best in everyone.
There has to be real value delivered along the way for your
fundraising efforts to elicit the desired response from your
supporters.
A true value proposition needs to exist for your volunteers and
for your
participants as well.
Your fundraising plan needs to clearly answer the question:
"What's in it for me?"
Create a value statement
A good place to start is by crafting a concise statement of
the benefits that your fundraising campaign will deliver.
This is not a monetary amount or goal.
It is the intended positive
result that will be created by the
funds that are raised.
For example, a PTA fundraiser needs to communicate what the
net proceeds will be spent on - teacher supplies, playground
equipment, etc.
By being specific, your results will be dramatically higher than
just saying that
you are doing a fundraiser without specifying
what the funds
will be used for.
This statement of benefits is the first variation of answering
"what's in it for me?" because you have defined how your group and your community will benefit from the proceeds.
Utilize your value statement
Next, you need to include that value statement into your group's
communications with potential supporters.
Volunteers and other members participating in your fundraiser
need to understand this
value proposition.
As group members, the benefits resulting from the fundraiser are
one portion of the "what's in it for me?" for your participants.
Explain the resulting benefits
In addition, there are often other individual benefits for those
actively involved in the fundraising effort - the satisfaction
of helping reach the goal, the future enjoyment of the resulting
benefits, and possibly winning an incentive or sales prize.
Ultimately, the success of your fundraising efforts hinges on
getting the maximum level of "buy-in" from the maximum number
of supporters.
Having your workforce - your volunteers and your
participants -
understand "what's in it for me?" will boost your
results tremendously.
The reason is that their belief and understanding of what benefits
will result will be communicated strongly and clearly to each potential
supporter.
Furthermore, that stronger belief will motivate them
to approach
additional prospects.
So, you get better results
from both improved
communication and
increased effort.
Express benefits by showing as "What's in it for me?"
Lastly, those supporters that you've carefully cultivated will
be more likely to contribute to your cause if they know clearly
"what's in it for me?"
It's a scientific fact that people most often act in their own
self-interest first and then consider the needs of others second.
That's why society places a high value on such selfless acts as the
heroism of the firefighter or the courage under fire of a soldier.
Appealing to a potential supporter's self-interest in in your fundraiser's
best interest!
So, how can you appeal to a potential supporter's self-interest?
- By defining precisely how their contribution will help
- By increasing the perceived value of what they give
- By increasing the perceived value of what they receive
Define precisely how their contribution will help
Your fundraising participants need to communicate to each
prospect the exact nature of the community benefit.
To use
the PTA example, a potential supporter should immediately
be
informed of the amount of school supplies their funds will
provide.
If it's new playground equipment, mention the cost
of a specific item
and show how it addresses a need. An example is replacing older,
worn out equipment that is becoming potentially dangerous.
Increase the perceived value of what they give
Add value to their perception of the impact of their own
donation
by linking it to the attainment of a sub-goal.
If it's
new playground equipment, mention the rough cost of a specific
item and link it to their contribution.
An example is stating that a $10 contribution purchases a new
basketball. The supporter sees a visual image in their minds'
eye of
the direct result of their contribution.
That image has the
effect of associating a donation with a pleasurable
feeling,
making it much more likely that the prospect will support your
cause.
Increase the perceived value of what they receive
Besides increasing the perceived value of what they give, you
also want to increase the perceived value of what they receive.
You do that in different ways for different fundraisers - donor
recognition items for contributions, more attractive packaging on
items being sold for a profit, or making your charity
auction a
black-tie event.
Each of these approaches increases the perceived value without
significantly increasing the cost.
That means that each of your supporters will assign more value
to what you are offering. That translates into increased funding
for your organization.
So, what's it all mean?
Just this.
In planning your next fundraiser, make sure everybody understands
how to quickly explain your fundraising efforts in terms of:
"What's in it for me?"
Related Pages
Merchant Plan - How to put together a successful merchant plan for long-term fundraising success.
Publicity Tips - Simple methods to get your fundraisers well publicized - Publicity is the key to successful event fundraising.
Common Mistakes - Excerpt from Fundraising Success on common fundraising mistakes and how to avoid them.
Maximize Your Results - Ten quick tips on improving your results - Easy fundraiser profit boosters - Profitable fund raising tips.
Location, Location, Location - A good location can generate big profits - How to find the best locations and work them for maximum fund raising profits.
Fundraising Tips: Follow-up - Describes the importance of
good follow-up and its impact on your future fund raising success.
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