Tag Archives: fundraising

Nonprofit Radio for October 11, 2021: Next Year’s Plan For Your Year-End Donors

My Guest:

Poonam Prasad: Next Year’s Plan For Your Year-End Donors

We’re in the 4th quarter and you’re expecting a lot of fundraising revenue. You want those donors with you next year and beyond. Poonam Prasad has the strategies to make that happen. She’s president of Prasad Consulting & Research.

 

 

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[00:00:10.84] spk_4:
Hello and welcome to tony-martignetti non profit radio

[00:01:41.44] spk_1:
Big non profit ideas for the other 95%. I’m your aptly named host of your favorite abdominal podcast and oh, I’m glad you’re with me. I’d suffer the embarrassment of Ruba malaria if you made me hot with the idea that you missed this week’s show next year’s plan for your year end donors. We’re in the fourth quarter and you’re expecting a lot of fundraising revenue. You want those donors with you next year and beyond. non Prasad has the strategies to make that happen. She’s president of Prasad consulting and research on tony state too planned giving accelerator. We’re sponsored by turn to communications pr and content for nonprofits. Your story is their mission turn hyphen two dot C. O. It’s a pleasure to welcome to the show for the first time Hunan Prasad. She is founder and president of Prasad consulting and research, providing board and staff training, audit, major gift capital campaign and publication services to non profits. She’s on the executive committee of the Giving institute, leading consultants to nonprofits before nonprofit work. She was an investigative reporter and worked in journalism, advertising and pr in India south Korea Hong kong the West Indies and the U. S. Her company is at Prasad consulting dot com and she’s at prasad c Welcome to the show. Prasad opponent. Prasad. Welcome to nonprofit radio

[00:01:53.44] spk_0:
Thank you Tony. It’s a pleasure to be with you.

[00:02:02.54] spk_1:
My pleasure to have you. Thank you. There’s so many so many facades. I guys called um facade instead of being um so you’re in you’re in new york city, right? You’re coming

[00:02:05.65] spk_0:
to us from new york? Yes. Coming to you from downtown Manhattan

[00:02:09.30] spk_1:
downtown. What neighborhood?

[00:02:11.54] spk_0:
Oh, east mid down. Sorry.

[00:02:13.84] spk_1:
Oh, now you moved in downtown anymore.

[00:02:16.17] spk_0:
Yes. Now we moved, we moved recently near Grand Central Station.

[00:02:20.74] spk_1:
Okay. And your Grand Central. And how about your home? Where where, where is your home?

[00:02:24.55] spk_0:
Also in midtown,

[00:02:26.08] spk_1:
midtown, midtown east. Also,

[00:02:28.39] spk_0:
midtown east. Also. Okay,

[00:03:06.04] spk_1:
East side of new york city. For your business and your home. Wonderful. So we’re talking about this year’s fourth quarter donors and how we want to treat them and work with them So that we hold on to them into 2022 and beyond. So just, you know, because we know the donor attrition is a big problem. It’s a appalling somewhere around 75% annual donor attrition rate. What do you see? You know, generally that, uh, nonprofits could do better about holding on to their year end donors

[00:06:17.64] spk_0:
actually, tony uh, the attrition rate or the leaky bucket is almost, uh, from three donors, you get down to 1.5 or from two donors, you could be down to one next year. So for all the efforts that you’re putting in to bringing these donors in. If you think about, you know, we were a research firm. So we often get people asking us, can you find me new donors? Can you find me new donors? I’m sure we can find them new donors. But the point is, once they’ve got them in, they have spent so much effort and time and money on getting them in. And then if you don’t steward them, if you don’t get to know them and you don’t work with them, then you’re going to lose them by next year. Um, and that’s the tragedy of uh, fundraising. You know, that is really very inefficient. So I suggest only just two little tips, the donors that you get in at the end of the year. There are only two things you need to do with them. one is get to know them. And then the 2nd 1 help them to get to know you. So show them that you are doing the right thing with their money. You know, the impact report reporting, telling them what you did with their money and how you could not have done it without their money. And the second thing learn about them. You know, if you were trying to become friends with someone, you went to a party and you met somebody and you said, you know, this was a really interesting person. Uh, they came to my birthday party, they gave me a present. I would like to be more friends with them. Would you not write them or thank you not? Would you not invite them to a body afterwards. Would you not say it? Let me have coffee with you. These are simple things that we do in everyday life. But then when you’re the executive director of a of a charity, a little social service charity, you said, I don’t like to do fundraising? Well, it’s not it’s human relations. These are people who gave you something they didn’t have to give you. They could have bought a boat, they could have bought a car, they could have bought a dress, they could have bought a rug for their living room. No, they gave that money to you. Shouldn’t you be grateful? Don’t we tell our Children you get a thank you gift for Aunt Mabel. You never met Aunt Mabel writer. Thank you. Not sit down here and right, right, and a thank you note, she sent you this gift. It’s simple. It’s it’s it’s not it’s not it doesn’t even have to be about fundraising. Yes. A lot of small agencies don’t have fundraisers, don’t have dedicated development people, but this is not even about development, This is about standard manners, you know, standard courtesies, things that we grew up with. But when it becomes, oh my goodness, it’s my donors. I don’t like doing this. I’m afraid to ask them for more. You know, just thank them first before you think about asking them for more, you know, and don’t wait too long to figure it out. You know, have the plan now, you’re getting the money in 40% of the money is going to come between October and November and December, that means it’s coming in now, October. You know, and in December you’re gonna get 20% of your money. So what is your plan for January? What is it that you’re gonna do?

[00:07:17.04] spk_1:
Okay, well, we’re gonna we’re gonna get there, we’re gonna get there. Hold on. Um So you made a couple of things, points that I want to amplify about it. Just being a matter of common courtesy in in a lot of respects, and it being about relationship building. All right. So, you’ve got, you know, in in in corporate marketing, there’s the idea of get a finger grab a hand. You know, someone walked into a Starbucks, they bought a coffee. Well, Starbucks doesn’t only sell coffee. They sell music, they sell food, they sell coffee accessories, they sell a tire, right? But not to mention they sell an environment. Uh, so I think there’s a lot we can learn from that. You know, get a finger grab a hand. So someone, let’s let’s take the donor that’s made their first gift, Right? Because that’s the tougher one. That’s the that’s the easiest one to lose

[00:07:20.79] spk_0:
that 1st 1st. That’s the that’s the most fragile relationship,

[00:07:56.14] spk_1:
right? So, we’re gonna start with that. I’m giving you the toughest hypothetical, right? So, all right. So we’ve got a bunch of first time donors, we had a very successful fourth quarter in donor acquisition. We brought in a good number. What however good number is defined by My listeners. That could be 12. It could be 1200. It could be 12,000. We’ve got a bunch of new first time donors. You started to allude to, you know, what’s your plan? What’s your plan for january? What’s your first recommendation for? What we’re gonna do with this, this nice rich cadre of first time donors?

[00:07:59.40] spk_0:
Well, my first recommendation is of course they didn’t within 48 hours to get a tax

[00:08:03.07] spk_1:
receipt. If it’s

[00:08:04.11] spk_0:
Over a certain amount that you need to give them a tax two

[00:08:06.41] spk_1:
$100, requires a receipt. How about your about just a simple acknowledgment letter

[00:08:20.04] spk_0:
Also, you start then you start with the next. So then depending on how much money they got They sent you, you need to figure out who they are. If it’s over $1,000, you need to send it to somebody to research somebody in your office or somebody you outsource it to. You need to figure out who this donor is and why they gave to you.

[00:08:34.84] spk_1:
Well, all right. But for some non profits that could be, if it’s over $100,.

[00:09:16.54] spk_0:
Yes. If it’s over $100, you might wait till January and take the whole batch and screen them. So we are now screening a batch for a social service agency in Connecticut and we’re screening uh $690 that gave From $20 up in the last two years now. It’s late that we’re doing it now. But you know, it’s better than nothing. So ISIS suggests that, you know, we have another client that we’re doing over the pandemic. They said they had 274 new donors who gave over $500. And we’re looking for people within that Group within that cohort who would give maybe $10,000. They actually have people, we just finished that project and they actually have people who would give them, not just $10,000, but $100,000.

[00:09:46.04] spk_1:
Okay. Okay. All right. Let’s take a step at a time. So We’re sending our acknowledgment within within 48 hours. And if the tax receipt is required, then you might incorporate that into your acknowledgement or you might send something separate. Alright. We’re saying thank you fast. Now, is there is there nothing else between, you know, suppose that’s in october or november, donor. Nothing else between that and screening them in january. Don’t we want to we want to be involved with

[00:10:41.94] spk_0:
them. Yes. Yes. So then you start then you start with the seven. Thank you. Then you start with the seven. Thank you because this person has given you a a donation and depending on their level of giving and the effort you have to put in. You start with sending them your annual report, your newsletter. Welcome email. Some some agencies have a three series of welcome emails. And so you do that. Maybe you send them a donor survey which they respond to and tell you what aspect of their uh of your program they are interested in. That will help you a lot uh to know you know, we have a social service agency. They do senior care, they do middle school education, they do uh other kinds of adoption. So now which program is that person interested in? They can tell you or you can find out given are based on when you do the screening and when you do the research, you will see what else they’re giving to. And that will give you a clue as to which part of your program they care about.

[00:11:03.94] spk_1:
All right, well, you also have a clue based on what they gave to. Yes.

[00:11:04.45] spk_0:
Yes. If if

[00:11:05.88] spk_1:
if you know a lot of people don’t designate a gift. I agree. I agree with you. But if they designate their gift to a particular program, then you know where their affinity is.

[00:11:14.69] spk_0:
Yes. And you know that in the database right away. Of course.

[00:11:33.44] spk_1:
Absolutely. Yes. It’s important to preserve what people give to. Just like. It’s important to preserve the donors survey results that you suggest? Absolutely. Okay. What what might be. What what might we be soliciting uh information about in that in that follow up donor survey? You want to get to know folks better

[00:12:47.54] spk_0:
which aspect of the program they care about how they heard of your agency. You know uh Would they ever would they attend a webinar? If if you had one would they be willing to travel and come and see your facility? Uh You know is there a particular staff person that you know they have met with or or they know about you know each each agency is different. So you would ask different questions based on what you want to know about them. Uh what would help you? So those would be for instance with this where there are three different uh we have an irish theater company. Well they would want to know which which playwright you know with their favorite if you’re a music or something you might want to know which music they care about. If you’re a medical agency might we used to send out service and say which disease do you want to know more about? So we can send you newsletters about that disease. So you know based on your interest based on your work. You ask the right questions.

[00:12:49.08] spk_1:
Okay. And you also mentioned the seven. Thank you.

[00:12:52.23] spk_0:
Yes

[00:12:53.93] spk_1:
I say a little more about your seven. Thank

[00:15:37.44] spk_0:
you. This is this is my mantra that I have been teaching. You know I’ve been teaching at N. Y. U. And also at Columbia and I teach workshops all the time. And this is one of my mantra that I teach. And now my students have started deciding it back to me. So and it seems like oh my God you’re going to say thank you thank you thank you. It’s not that you have to be creative. So you might send them the tax receipt which is the first thank you. And then depending on after that you might have uh the executive director writer. Thank you. You might have the development director writer. Thank you. You might have the program director. We have a little archaeological excavation. You know there are two main archaeologists, archaeologists involved with it. and depending on which one uh is uh you know closest to that person who send the gift. We’ll have them right appears on the on the thank you note which we draw for them for some people. I might call them and say you know because I’m in new york city I might call them to say thank you. I have received your gift. It’ll take a while for us to process it. But in the meantime I want you to know that your check was received and we’re so grateful and the excavation will start on such and such a date and we’ll send you pictures and this is our facebook page and you know communicate with them. Uh one of my friends uh sent her son to a boarding school and she sent a little gift where she’d been sending it to the local school all the time. But now because it was a boarding school, the parents suddenly she got a call from my parents really wanted, why is the parent calling me when she said, you know, I know you sent a gift and I wanted to tell you thanks from the school. But also I want to tell you that I was yesterday at the tennis match in which your son played and my son is captain of the team and he played so well and we were so proud of my goodness, do you think that lady is not going to give another gift after that? I mean it’s just brilliant and it wasn’t even a staff member. It was a volunteer. I have I have another agency this year. There was a crisis and people ask me and I happened to have insight into that particular problem. They said what should we give to? I said, oh, this is a great agency. I’ve been, you know involved with them as a volunteer for a long time. You know, they use the money very well. They’re doing really great work. They sent the money. I sent the money. None of us have ever gotten a thank you note. Now they’re doing the work. They have social media, they have facebook, they have Lincoln they have a blast. They’re sending us the, all the information about what they’re doing and we are so happy. They’re doing it. But they didn’t do God one Thank You. And one of the donors sent it from a donor advised fund. He’s got no thank you, let alone seven.

[00:15:43.44] spk_1:
It’s time for a break.

[00:16:43.64] spk_2:
Turn to communications. I’m on their email list and they said something this week. That’s very interesting. They talk about seeing good news stories on social media, uh, specifically linked in, in this case and the uh, frequent lament that people will, will comment that you’ll never find stories like this in the mainstream media. In fact turned two points out that many, many of these good news stories originated in mainstream media. Um, you know, some are, we’re in newspapers, others might have gotten exposure from national outlets like the new york times or CNN, or one of the major networks. But the point is a lot of these stories originate and in some mainstream media and then make their way to social media. So what’s that mean for you? It means there are a

[00:16:44.64] spk_3:
lot of journalists

[00:16:58.94] spk_2:
that are interested in good news stories that maybe just generate a laugh or a smile or it’s, it’s um, it’s more of a story about work that a nonprofit has done.

[00:17:02.04] spk_3:
So the journalists

[00:17:03.33] spk_1:
are out there.

[00:17:04.28] spk_2:
They are hungry for these good news stories. If

[00:17:06.79] spk_3:
you’ve got something

[00:17:07.85] spk_2:
like that.

[00:17:09.74] spk_1:
Look internally,

[00:17:10.74] spk_3:
if you’ve got some good news

[00:17:27.94] spk_2:
turn to, can help you get it noticed right, help you craft that good news story and then get it exposed in all the outlets you’ve heard me talk about. So they finish up this on this. I’m choking up. That’s, that’s how that’s how, uh, much this touches me,

[00:17:33.04] spk_3:
they finish up there

[00:17:58.64] spk_2:
their email by saying there are lots of journalists out there that are ready to give good news stories a look despite what you may read on linkedin. So, you know, they’ve got their eyes on the media market. Turn to communications. Your story is their mission turn hyphen two dot C O. Now back to next year’s plan for your year end donors.

[00:19:01.14] spk_1:
Yeah. I mean, that’s that is a very bad practice To have gone. Well, you know, some folks say 24 hours, you’re, you’re being more generous 48 hours, that’s still fine. But If it goes much longer than that and you’re, you’re saying it’s been months or whatever, you know, that, uh, to not acknowledge every single gift, I don’t care if these are $3 gifts. I don’t care if the dollar and a half. It still deserves an acknowledgement. You just never know. Someone might be testing you with a small dollar amount and really who gives a dollar and a half anyway, so that, that’s, you know, that’s a hyperbolic on the low end, right? Uh, but if someone gives you $5, they might be testing you, they might have capacity to give 5000 or 50,000. They may have capacity. They may feel whether they can’t or or they know they can, but they’re they’re trying you out every gift deserves acknowledgement. So when you were just describing that’s very poor practice.

[00:19:08.04] spk_0:
Well, unfortunately, the excuse is that they are because they’re doing such good work. They are understaffed and their non profit. So they don’t have capacity.

[00:19:34.24] spk_1:
That doesn’t, that doesn’t sell. That’s a that’s a nonstarter. You need to invest in your organizations to the extent that you can thank people. Thanking people is not overhead, It’s not worthless. It’s it’s an administrative investment. It’s not an expensive, it’s it’s an investment in the relationships that you’re talking about. You mentioned earlier, you know, absolutely relationship building, if that’s an investment thanking

[00:21:02.24] spk_0:
people. Absolutely, and and that’s how one needs to think about it. And and you know, the board members, the staff, the executive director, everybody needs to be aware that how important this is. Now, another thing that people ask us a lot is we got a gift from a donor advised fund and we don’t have any access to the donor. So we don’t know how to thank them and we want to know who they are, what they are and you know, they’re freaking every sort of possible way of trying to google it to trying to get us to do it. This is so simple. This these these two donors who gave to this charity that gave through the donor advised fund that I know about, they are friends of the board members if they put a list in front of the board members and said, you know, we got a gift from. So and so family fund and unfortunately we don’t know how to thank them. They said that maybe they sent a thank you note to the to the donor advised fund agency. Somebody would speak up or you look in your database and say, oh, they came to the gala. This is the same person who came to the gala and sat at, you know, board member access table. So he’s gonna know this person. So let’s tell him that your friend gave us a gift even though there was no gala, even though there was just a virtual gala and he still gave us a gift. He didn’t even sit at your table.

[00:21:24.64] spk_1:
All right. So those, right. Those are, those are good ideas. But there is frustration among, among nonprofits getting donor advised fund gifts when you know, okay, so you’re right, try try your board query your database. But there are gifts that come that sometimes that folks can’t identify and that I know that is a frustration among nonprofits.

[00:21:56.24] spk_0:
Yes. But you know, more and more people have who have set up donor advised funds want people to know who is giving. It’s, it’s less and less about being anonymous. Now, people are going back to setting up foundations or entities from which they can give, uh, and be known and they want that because they want to add their credibility to the gift. They want people to know that a person whom they know give to this charity because it helps the charity.

[00:22:28.74] spk_1:
It does. Right. But there are, there are donors who would not agree with you. But I do, I agree. But there are always some donors that are going to remain anonymous. And I mean, I’ve always thought, you know, focus on the donors who you can identify. I understand the frustration for those. You cannot, they may come to you through a facebook fundraising event and facebook doesn’t share the information. They might come to you from a donor advised fund. That is not a name that you can track, uh, focus on the folks that you can thank and for the donor advised fund. Of course we should be sending a letter to the fund. Right, thanking asking them to forward the letter onto the anonymous donors.

[00:23:12.94] spk_0:
Exactly. And they would, I’m sure the same donor, the same donor, the friend of mine that gave because I said, oh, this is a good charity could give to them. It’s also sent to another charity in the same space. And he got his seven. Thank you. He actually told me I got seven. Thank you. So, he said, you know, the development director wrote, the executive director wrote the board member wrote, they sent him an annual report. You know, they invited him to an event. They sent him different things. You know, I mean reports, personalized. Yeah. All right. I mean, you could take a little video and send it to the person, you know, that you can do

[00:24:18.44] spk_1:
personalized video is a terrific idea. Um, I’ll give a shout out to a company that’s not expensive. Bond euro bongiorno dot com, bong boro easy personalized videos. You shoot a one minute video and you say thank you. And you can, you can be walking, you can have any background you want to know the production value is not the concern, sincerity, The genuineness. That’s the concern. And you do it in a 45 seconds or one minute video. You sent it right back to the right to the person. You can do it immediately. You could do it the next day. So, and Bongiorno is by no means the only personalized video platform out there. But Um, yeah, you’re right. Personalized video is a good one. all right. So you mentioned these screenings. So now we’re now we’re a little longer on now. We’re into January. Right? We’ve done our activities for the fourth quarter. Now we’re conveying into January. What kind of information uh, you’re looking for in a, in a screening. Does it have to be a commercial screening? You know, what are we,

[00:25:09.24] spk_0:
what are we looking at? You could, you could do research or you could just go for a screening depending on the number of donors. If you have seven donors, you know, you just give them to somebody to research who has tools like screening tools and research tools and ask them to do it for you and that’s all you need, You don’t need a sophisticated screening. But if you have 670 donors or something that I knew and they were given maybe over $20 or $50, then you certainly should have a screening down. But don’t try to do it yourself because then when you get it back, you have this information and you have no idea what to do with it because there are mismatches in the screening. It’s an automated process. There are mismatches in the screening. You know, there’ll be a lot of tony-martignetti is and Putin presides in there and you have to make

[00:25:30.54] spk_1:
sure that I don’t know if there are such good examples who not pursued and tony-martignetti are not very common names, but there’ll be a lot of there’ll be a lot of smith’s and uh smiths and joneses et cetera. Okay.

[00:25:32.68] spk_0:
Yes. And and you know you being me is how many food and presents? All

[00:25:39.12] spk_1:
right. There aren’t too many tony-martignetti is I would be surprised.

[00:25:50.84] spk_0:
Okay. In fact it’s more confusing when there are only two or three because then you really begin to think this is your person and then it turns out it’s not your person.

[00:25:53.14] spk_1:
Right? Okay. So you’re you’re you’re caution against doing it on your own or I mean if you’re going to do it on your own. You said if you had just seven or so. You know, you’re not gonna hire an agency for that. But you just, the point is you need to be careful that you’ve got the right person

[00:26:08.50] spk_0:
right? Like checking,

[00:26:10.24] spk_1:
check middle initials, check addresses, check whatever you do know against what you found to make sure you’re, you’re dealing with the right person.

[00:27:04.64] spk_0:
Well, you can, you can outsource, you know, a little bit of work every month with somebody with some research firm. We do that all the time. Uh, you know, it’s not that we do it all, you know, in one go and finish. You know, we have like an arrangement where if somebody new comes in, gives more than $1000 get more than $500. Whatever matters to them, they send it over to us and we screen them, research them, give them back information on that person. Okay. Okay. But it’s geared to small agencies. It’s geared to small agencies so that, you know, because otherwise what happens is the Harvard University’s and the big, big who have seven researchers get all the big donors because they have the tools and they have the staff. So you, you do need to implement some of the techniques that the top fundraising organizations you

[00:27:13.64] spk_1:
mentioned, you mentioned before screening and research tools there, are there some out there that you can suggest that folks can use

[00:28:02.94] spk_0:
on their own. Yes. You could, you could make a substitution with with something like ivy or donor search and try to do some work on your own. You could look at the, you could look at the linkedin profile of the person. If you know, you know, I mean small simple things. You could google them of course. Uh small things that you know, you could look at if you know where they work. You could look at the bio most law firms have the lawyers while on on the website many firms have the, you know, employees, bio senior employees bio doctors. There are free sites for looking at doctors to see what kind of specialty does the doctor have. Is it something that’s relevant to my cause?

[00:28:05.45] spk_1:
Yeah. Good. Alright, right. If you can find the person’s company firm that they work for or practice. Okay. And you mentioned I wave and donor search.

[00:28:31.94] spk_0:
Yes. These are subscription services. So you have to pay a little bit uh, you know, usually it’s in your subscription and you can check out your donors through that. And the aggregate information of other gifts that the organization has received. Other organizations have received from the same donor. Okay. Right. Right.

[00:28:37.14] spk_1:
Other charities that the person is given to us. So then you start to get a little profile of person. All right. So you can have

[00:29:03.54] spk_0:
to be careful because of the person your donor is in new york and the person, a person with the same name is giving in texas, you have to be careful to see why would my donor given texas? Maybe it’s another person or maybe he went to school in texas and he is giving in texas. Or he’s giving to a senior center in texas because my daughter has a mother there who’s in that home. So you know you need to be a bit intelligent about.

[00:29:30.84] spk_1:
Yeah right with that. With that caution you gotta you gotta that caveat. You gotta be uh certain that you’re dealing with the right person. Otherwise you’re going down you’re gonna start talking to the person about their gifts to texas. And they’re going to say I don’t know what you’re talking about and then then you’re gonna be embarrassed. So all right. All right. Um Okay so screening is a possibility. Good. You can engage your company. You can do some on your own. What what what what are we gonna do from what we learned from our screening now? What?

[00:31:54.44] spk_0:
So there’s the thing I mean you know we do research where research for and we send research to our clients. The question is how do you read this research? What does it mean to you? What what is the interpretation you get out of a research report on? Suppose we write a little bio on this person. So what what what what is the strategy that comes out of this research. So the first thing that indicates higher giving is age. So anyone over the age of 60 or 65 has more disposable income. They paid their mortgage, they probably paid their children’s college education. They’re beginning to think about their own, you know, legacy and they’re beginning to give more generously. So 60, you have a better chance of getting a higher upgrading their gifts before that. People are still on that little hamster wheel, you know, increasing their mortgage, buying a little bigger house, sending their Children to a better school. You know, getting them into college, they just often do not have time unless they are very community minded and they might give to their local community or their college or things like that. But but they become more Uh philanthropic, more generous generally after the age of 16. Now, there are always exceptions. The other thing there are a lot of people look for as you know, being in plan giving is people without Children, because people without Children do not have that usual legacy is, oh, I’m leaving good Children into the world. Yeah, that’s great. But when you don’t have Children, you have to really think, what is it that I am leaving? What footprint am I living in this world that I lived and who benefited because I lived And those people take a little more care and thought and and usually we’ll try to make an impact in a different way and you can help them do that and make them happy. And you know, there there’s a lot of studies that say people who give are happier people who give actually benefit more from their gifts than the person receiving. So it’s at that age, particularly when you have that reflective time for reflection that we see better gifts.

[00:32:02.64] spk_1:
It’s time for tony steak too

[00:32:59.84] spk_2:
planned giving accelerator. I’m starting the promotion again this time for the January 2022 class, I have accelerated the accelerator. It’s no longer a 12-month course. It is now a six-month course. I will teach you step by step, Everything that was in the 12 month course, but we’re gonna, we’re gonna step it up six month course. I’ll teach you everything you need to know about starting your planned giving program and you’re not only learning from me, you’re learning from your peers, folks who are similarly situated, they’ve got the same frustrations, they’ve got the same tensions bandwidth constraints as you do. You learn from them, They’re your, they become your friends, your allies, your safety net in planned giving accelerator. So if you want to get your plan giving program started,

[00:33:03.14] spk_3:
You want to start in 2022,

[00:33:05.64] spk_1:
you can start

[00:33:06.28] spk_3:
with plan Giving accelerator. I

[00:33:19.34] spk_2:
hope you’ll join me. All the info you need is that planned Giving accelerator dot com. That is tony stick to, we’ve got boo koo

[00:33:20.86] spk_1:
but loads more

[00:33:21.61] spk_2:
time for next

[00:33:23.10] spk_3:
year’s plan for your

[00:33:24.59] spk_1:
year end donors,

[00:35:46.14] spk_0:
then there are other things like education for one thing, if you know the education you can no other people who went to that school. So maybe you can have them go on. Maybe have a board member went there so you can build a relationship more strongly. But also of course education indicates more disposable income. So you begin to see when you build a profile of the person you say, oh well they went to the school from that area, They studied social work or they studied history or that tells you something about what they are interested in. Right? And then there’s the question of, Although I said that people who don’t have Children, you know, are very sought after by plan giving professionals, on the other hand, people in their lifetime are more generous who have Children over the age of six Because they’re trying to inculcate good values in their Children. They start to see the value of a community. So there are studies that show that people who have Children over the age of six, there could be 6-18, they could be 18-24. But a family unit, a couple usually has more disposable income. It could be a same sex couple or a heterogeneous couple. But the heterosexual couple. But the point is because there are two incomes in that family, they usually have more disposable income. So so that that’s important when you see that. So those are little things that you’re looking at. And then of course there’s the interest, what else they give to, You know, how old are they? Was it their parents that also gave to this charity or this type of charity? I have a I have a friend and he gave to a university music program. And I said to him, why do you give, you didn’t even go to that university? Why are you giving to that music program? He said, well, I became friends with the dean. They invited me to an event. I went on a trip with them to Austria to listen to classical music. And he said in the end, you know, my father died when I was very young. And the one thing I remember is sitting on his lap when he played the piano. So the piano music to him was, and he doesn’t have any Children. So, you know, that’s what makes him happy giving to students who play the piano

[00:36:20.23] spk_1:
reminds us of course reminds him of his dad. And he hopes that that uh those young students will have Children of their own and their those Children will sit on their laps the way he sat on his dad’s lap. All right. Those are good. Those are, those are valuable insights that we can, we can get from uh, that we that we can get from the screening. So now going back to what you had suggested earlier when you said get them to know you and let them get to know, uh, sorry, get to know them and let them get to know you. So how do we do the second part of that now that we have this information, valuable insights? How do we let these new donors get to know us?

[00:37:37.13] spk_0:
Well, we talked about the series of three emails that welcome them. We have invitations. Uh, and of course in this environment, maybe you can’t invite them so easily, but you could still send them a video. Now. We had a homeless, uh, organized agency for homeless people last year that we were working with. And they sent out a video of their new building and somebody sent them $25,000 just from that video because it was the Executive director going through the building and saying, you know, we had such hopes for this building. We finally got it built. We’ve got all these people were going to bring into this building and the person was so touched. He was also a senior citizen. He had money. He felt like, oh, let me help. There are other people out there my age who do not have housing. And here is somebody who’s an agency that’s providing it. And that video, you know, a small video that they didn’t even actually seriously ask for money in it. They just said, and if you’d like to, you know, there was a little bit and

[00:37:44.23] spk_1:
well, it it touched it touched somebody. Well, video can do that. It’s powerful that way.

[00:39:16.22] spk_0:
All right. And of course a tour with the executive director. So you’re really getting to know the person, you know, face to face. So as best you can in this environment. You know, it’s a trusting relationship. So by video you’re seeing them as best you can. The other thing is of course you could set up coffee with them and people are much more accessible now because they’re not going out. So people are taking calls even if they are not. Yeah. In where at home, they’re still taking calls from wherever they are. They’re doing zoom with you. They want to be conducted. All of us are starved for human contact. We took these things for granted. And now suddenly we realized how valuable our community is. You know, I walk out, I’m an anonymous new york city right where nobody really knows anybody and you walk on the street and nobody should recognize. You know, it’s not like that anymore. The moment I walk out on the street, my neighbors are standing out there, they’re also walking. There’s no nowhere to go and nothing to do except to go for a while. So they’re all out there walking and they all suddenly know each other. So you realize how important your community is. So do you think that the area neighborhood association and things that are being done in our neighborhood are getting more attention. Sure, more people are planting, helping to plant in the parks, more people are helping to give to the local community association. Suddenly that’s becoming more important. So something that’s good for the small agencies.

[00:39:18.39] spk_1:
So engagement, Yeah. Uh, engagement at whatever level it might be something communal and community and in, in face to face,

[00:40:10.61] spk_0:
yes, might be something come and paint a mural on your wall of your, you know, of your agency. We have a, a friend of mine runs a clear art center community, you know, they make pottery, they got the local artists together to come and paint the wall even urine Corbett, they could still do that. You wear your mask, You come and paint the world their artistic. So you could plant flowers in your garden, invite them to do that, invite them to do outdoor things in the local park. You could have a gathering of rooftops. People have been doing gatherings or some of our clients have been doing gatherings or rooftops whatever you can do outdoors, especially in the summer. And then also we were talking, well, we were

[00:40:14.43] spk_1:
talking about january, but that’s okay. Well into spring

[00:40:55.71] spk_0:
now january, you could do a lunch and learn, which is a good time to do a lunch and learn. And that also gives you an information back because the people who attend, you do the lunch and learn on different programs and people sign up based on the interest. So then, you know, well this donor signed up for this lunch and learn on this program. So obviously that’s what they care about or they might write to you and say I didn’t, I really wanted to attend this, but I couldn’t. So you send them the recording of that lunch. That’s another, uh, value of having something which is recorded, which you’re doing on zoom. You can record it like, just like your radio programs, tony

[00:41:15.11] spk_1:
I’m a, I’m a big fan of big fan of audio. I think it’s very intimate medium, yep. All right. So we’ve, we’ve, we’ve thought through our engagement, it might be something in real life. It might be something virtual. I love. I mean, you gave a lot of good ideas. Um, now we need to plan for the next solicitation.

[00:41:21.53] spk_0:
Now

[00:41:49.61] spk_1:
we’re in, we’re in like the third quarter of 3rd quarter of next year and it’s coming time to solicit the person again. They made a year into gift this year. So we’re going to presume, but they’re, they’re going to do the same. Let’s exclude the folks who maybe became major donors and they’ve got a relationship now with a gift officer. We’re not, we’re not at that level. Uh, we’re dealing with the larger group. We’re planning our fourth quarter. What should we be thinking about in terms of possibly upgrading or should we not try to upgrade in the second year. What’s your advice around planning that, that second year solicitation?

[00:45:27.39] spk_0:
Well, another thing that we never spoke about and some of my clients and colleagues will be very upset if I don’t mention it is creating a giving circle. So you could have, if you have enough donors at certain levels, you could try to upgrade them by creating a council, uh, you know, giving society, you know, so, so somebody who gave 500 you could give them an incentive to upgrade to 1000 because when they’re at 1000 they’ll get such and such benefits. You know, they’ll meet somebody that they care about or they’ll get a painting or they’ll hear a concert or you’ll have some event just for them. So, so you’re constantly upgrading those who gave 500 to 1000, those who gave 1000 to 5000, those who gave 5002, 10,000. So, so a little theater client is probably going to say, oh, you know, uh, famous irish actor is going to speak with 10 of you and you only get invited to that if, if you give, you know, a little bit more than what they were already given and that and that creates a cohort of people. So they have a little sense of community because that giving society is going to meet, um, we have the example of a museum that was up. It’s a very famous glass museum called the corning Museum of Glass and it was very well supported by the corning company. But the corning company went through some very tough times and so they needed private support during that period. So they started with a giving society where people came up, they went through the museum, they were passing by on their way to Niagara Falls or they were interested in glass or whatever and they were told that if you give this much that’s great, we are very grateful. But if you give this much you’ll be invited to an event the opening of our show and guess what? We’ll fly you up in our private plane because corning had the private plan and you won’t have to drive all the way you know from new york city well and and that was something the company could no longer support the museum financially. But they had this plane which flew up with their executives and I was such a such a cashier to to fly up in the blind drain, arrive at this museum, attend this beautiful event on roman glass with food from roman times and then have the director of the museum walk you through the show. I said one of the most beautiful things that you know, I was a stuff remember trying to attend this and I thought I was wowed and and so you know you can be creative with almost anything you could if you’re a social service agency will say well I can’t do that well you know you have people in your community who will come out and provide their celebrity help to you. So you could still have somebody do a little concert or somebody, somebody from your community who’s a wonderful singer musician or something. And and it may be not relevant, but maybe their daughter was helped by your uh, you know, educational charity or their mother was served by your senior citizen center. They will do things for you. There was a person who used to come and play the piano at a senior citizen center in uptown all the way up, you know, above the Columbia University is in Morningside

[00:45:30.03] spk_1:
Heights or something, riverside

[00:46:01.08] spk_0:
riverside riverside. Yeah. You know, they’re above Colombia where the cloisters, the museum is there and nobody knew who this person was. But when we looked him up, he was a very famous pianist who used to play at the Carlyle and his mother was in the center. And so he would come up and perform. And so we asked him if he would perform and he did a concert and Steinway hall for us because he was a famous man and there are little treasures in your community. You just have to find out about them. There are little gems floating around.

[00:46:14.68] spk_1:
All right. So you like the idea of incentivizing folks to give a little give more, Even even in the 2nd year. So they were they were our, it was first year was last year. Now we’re planning for the next year incentivize them to increase even in that just in that second year. Yes,

[00:46:46.98] spk_0:
yes. And they will because you’ve been talking to them, you’ve been engaging with them in different ways and, and maybe some of them will become, you know, much higher level donors because for small agencies, a small amount can make a big difference. There is if they gave that small amount of a much larger organization, they can’t give them that personalized attention and it’s not going to make, its going to be a drop in the bucket.

[00:46:52.58] spk_1:
Yeah. There are those folks who will be more will be more generous

[00:46:56.35] spk_3:
to smaller agencies

[00:46:57.35] spk_1:
because they get a lot better treatment. They have more fulfilling relationships with a smaller organization than they would at an organization where their gift was

[00:47:07.88] spk_0:
not in their communities. They, you know, they feel closer to it.

[00:47:14.38] spk_1:
Okay. Alright then. Um, why don’t you leave us with some final thoughts please?

[00:47:54.88] spk_0:
Well, just remember about the leaky bucket. You know, it’s a, we all grew up with that song. There’s a hole in the bucket, realize a dear Liza. So just remember you are not going to let your bucket leak. You’re gonna make every effort you can to get those the donor who’s gonna fall through the cracks, Give him as much attention as I say lavish movie cultivation, whatever tactics you can think of. Whatever relationship building and getting to know you uh, thoughts and strategies that you can come up with, have a plan, learn about them and let them learn about you.

[00:48:16.47] spk_1:
Excellent. I’m gonna look, I’m going to remind myself uh refresh my memory about there’s a hole in the bucket, dear Liza, dear Liza what do we do something like? What do we do? All right, thank you. Hernan Prasad founder and president Prasad consulting and research. The company is at prasad consulting dot com and she is at Prasad C Thank you very much. Program.

[00:48:24.37] spk_0:
Thank you Tory pleasure to talk to you.

[00:48:27.07] spk_1:
My pleasure as well.

[00:48:30.77] spk_2:
Next week engaged

[00:48:31.62] spk_3:
boards will

[00:48:32.58] spk_2:
fundraise with Michael Davidson and brian

[00:48:55.77] spk_1:
Saber from asking matters if you missed any part of this week’s show, I Beseech you find it at tony-martignetti dot com were sponsored by turn to communications pr and content for nonprofits. Your story is their mission turn hyphen two dot c o. Mhm. Our creative producer

[00:49:26.17] spk_4:
is Claire Meyerhoff shows social media is by Susan Chavez. Mark Silverman is our web guy and this music is by scott stein, thank you for that. Affirmation scotty you with me next week for nonprofit radio Big Donald. profit ideas for the over 95% go out and be great. Mhm

Nonprofit Radio for September 13, 2021: Effective Fundraising

My Guest:

Warren McFarlan: Effective Fundraising

That’s Warren McFarlan’s new book. It’s written for potential board members, but it’s a valuable study for those on the ground, doing the work.

 

 

 

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Every nonprofit struggles with these issues. Big nonprofits hire experts. The other 95% listen to Tony Martignetti Nonprofit Radio. Trusted experts and leading thinkers join me each week to tackle the tough issues. If you have big dreams but a small budget, you have a home at Tony Martignetti Nonprofit Radio.
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[00:00:02.84] spk_2:
Hello

[00:00:09.59] spk_1:
and welcome to

[00:00:10.46] spk_2:
tony-martignetti non profit

[00:01:46.64] spk_1:
Radio big non profit ideas for the other 95%. I’m your aptly named host of your favorite abdominal podcast. Oh, I’m glad you’re with me. I’d be hit with like the Asus vulgaris if you drive me out with the idea that you missed this week’s show effective fundraising. That’s Warren Mcfarland’s new book. It’s written for potential board members, but it’s a valuable study for those on the ground doing the work. tony state too planned giving in the pandemic era were sponsored by turn to communications pr and content for nonprofits. Your story is their mission turn hyphen two dot C. O. It’s my pleasure to welcome Warren McFarlane to the show. F Warren Mcfarland is the Albert H. Gordon? Professor of Business Administration Emeritus at Harvard Business School. So F Warren McFarlane is the guy I’m talking to. Albert H. Gordon is the guy who endowed professorship He fr McFarland has spent the past 40 years serving on social enterprise boards, helping organizations find the right leaders advanced their missions and raise the necessary supporting funds. I don’t know anything more about Albert H. Gordon. F Warren Mcfarland is a retired esteemed professor. You don’t need a website. You don’t need twitter Warren, welcome to the occasionally crass

[00:01:48.87] spk_0:
non profit radio it’s directly with you this morning.

[00:01:54.74] spk_1:
What’s a pleasure? Thank you for joining us. Congratulations on the book.

[00:01:56.44] spk_0:
Thank you very much it’s been uh

[00:02:36.24] spk_1:
and you’ve written it for trustees are really potential trustees, but I think there are a lot of good lessons in here for for folks who are doing fundraising. So that’s why, you know, because our audience isn’t so much potential trustees, but it is fundraising on the ground in small and midsize nonprofits. So very apt subject. And I was glad to hear about your book. You Pretty much open with a chapter chapter #2 on governance governance. Why do you, why do you put governance ahead of getting into the fundraising topics in the

[00:02:57.74] spk_0:
book? I think because governance sets the context for fundraising. The governor’s committee on the board, I think is probably the most important of the committees and they are the people responsible for identifying the people that will serve on the board. That will be able to help, uh, fundraising in one way or another, either personally or helping to make connections, general context and, and, and so forth. So that I really put it up because the three major roles of a nonprofit board, our number one approving the mission and the strategy of their uh, number two, hiring retaining and supporting the Ceo and certainly basically helping to secure the funds. And that’s a hard, difficult kind of things. My friends who head up nonprofits repeatedly say it’s 50% of their time that is spent on that. And it’s just hard, difficult kind of work. And that’s why I really, you wrote the book to help focus new board members attention on how vital their role was in helping to set the context for an organization to succeed.

[00:04:00.94] spk_1:
Yeah, fundraising. So let’s give a shout out to your previous book, which dealt with those three topics, but this book fleshes out the fundraising that the third of Exactly yes. Your tell folks what your your first book was that had more focused on the first two of those

[00:04:06.74] spk_0:
the

[00:04:07.63] spk_1:
roles of the board.

[00:04:26.44] spk_0:
The first, my first book was really aimed on governance of nonprofits, what a board member needs to know. And it really looked in a very broad kind of way. You’re focusing on mission structure, uh budgeting, planning and so forth. And that fundraising was one of the pieces in the book, but it was such an important piece. And I’ve been spending so much time working on it that I really felt there was need for another book to kind of taken and blow apart. Was one chapter in the other book into the, into this book.

[00:04:50.04] spk_1:
Yeah, because we know fundraising is at least 50% of an effective ceos time spent. And you make that point in the book a couple of times, but give a shout out what’s the exact title of the previous book?

[00:04:56.56] spk_0:
Uh Corporate Information Systems Management, I’m sorry?

[00:05:00.07] spk_1:
No, no, that that can’t be a different book for a different,

[00:05:11.64] spk_0:
I have to have to go back and think of something, but it was basically joining a nonprofit board. What you need to know.

[00:05:26.84] spk_1:
Okay, so is that it joining? Okay, because we’re talking about effective fundraising, the trustees role and beyond. Uh, and, uh, okay. So the previous one. Okay, joining a nonprofit board. What you need to know? Exactly. Right. Well, I don’t know why I doubted the author of the book. Just you maybe a little nervous when you talk about corporate information systems. I don’t know. That’s a

[00:05:35.79] spk_0:
different, wasn’t really part of my

[00:05:52.64] spk_1:
life. It’s a different, it’s a different book. The man’s prolific. You know, he gets, he’s written so many books. He gets the book titles confused. That’s all right. All right. Um, I’m not sure that many of our listeners, again, small and mid sized shops have a governance committee specifically. What’s, what’s the role of that committee? They may be doing governance maybe in their executive committee. Perhaps it doesn’t get smaller, smaller and midsize or what’s the role of the governance

[00:06:52.24] spk_0:
committee? It’s basically, it’s a nominating committee. Its role is to attract, uh, the right kinds of trustees to the organization to help talk them into doing it, to help get them, uh, slotted into the right kind of role. Worry about getting the right people and then helping them as when they finished their term to be involved in other ways because one of the critical things. And so I view that, uh, for for profit boys are very different. I’ve served in a number of them. They’re very exciting. And when you’re over the job is over. You’re gone for a nonprofit board. This is meant to be a lifelong relationship and one of the organization work. That’s right now why we’ve Now developed a committee of some, uh, 35 former board members. We have them sitting on various committees and so forth. And with that, they have stayed involved with the organization. And with it comes a philanthropy. They’re building willingness to keep people you involved. So is this an entirely different kind of concept? And it means that you have to that a nonprofit board is often less efficient because you have to deal with people’s idiosyncrasies in a way that you don’t in the for profit world because I’m not actually going to take a major donor who’s a little bit careless and sort of, you’ll cut them off too sharply.

[00:07:39.64] spk_1:
Yeah. You make a good point about the trusteeship and the end of the trusteeship still being a, uh, warren, are you able to silence those? Um, that sounds like an email notification you’re getting. Are you able to,

[00:07:51.97] spk_0:
I’m sorry.

[00:08:25.04] spk_1:
Okay, no problem. Thank you. Um, the end of the trusteeship is just a continuation in the spectrum of the, the lifetime relationship with the nonprofit. I, I think a lot of non profit to make a mistake there and they figure, okay, the person served three years, six years, Hopefully not more than six. That’s another subject. But, you know, they’ve served their time. And, and now they just, you know, we hope they’ll continue to give. But that’s the end of sort of the, uh, it’s the end of the volunteer volunteering of the relationship. And I think that’s a mistake. Your, your former board members. You know, there may be an emeritus board or some kind of an advisory board or, you know, some other way to not lose that expertise that they gained while they were trustees.

[00:09:18.14] spk_0:
Yeah, that’s, uh, that’s exactly the key point that I recall her often, a board of advisors or a corporation or two things that people, you know, calling for. And that was it. One of the jobs economic committee is to help figure out what the new, as somebody comes near the end of their term, how they will be able to be involved and get them involved in in the right kind of way now. And that basically tremendously increases your footprint. You must have term on that because you need to continually bring new people in while you’re bringing them and then in why taking care of the older people is, is, uh, can be, it’s, you’ve got a lot of value ideas and also philanthropy wise.

[00:09:35.34] spk_1:
Yeah, yeah. Think through that, that post board member post trusteeship relationship,

[00:09:57.74] spk_0:
I’m involved in four board, I’m involved in for nonprofit boys. Now, the links to them go back over almost 40 years and it’s evolved from one setting to another. And the power, you know, grows. And so that there was an annual giving then there was, uh, capital campaign giving. And at my stage in life now, why planned giving? It turns out to be a particularly important thing.

[00:10:25.04] spk_1:
Sure. Yeah. You say the fundraiser is an educator of donors. That’s a, that’s a pretty, uh, basic lesson. But I want you to flush it out for folks because sometimes basic lessons are, you know, they’re foundational for a reason they’re worth revisiting and thinking about why, why do you say fundraisers are educators of donors?

[00:11:50.34] spk_0:
It’s really helping somebody to understand how they can go about, um, contributing in ways they haven’t thought, I mean, they, that I’m working with somebody right now and they’re that some tragedy in their family. And we’ve been able to sort of help them think through how this new facility they’re building, is going to help the organization and help their grief and fill their needs. So that, uh, it’s, uh, it’s very important that when I go out and ask people from, uh, you know, for money, I’m not asking them for money. I’m asking for them to be able to contribute contribute to society in a way bigger than they can on their own. And it’s, it’s really opening up an opportunity for the person opportunity they often haven’t thought about in their, in their own ways. And that you’re one of the things that died. And I talked about this for trustees is that the first thing that I do is in fact, the trustee is you’ve got to believe in the cause and have made your own contribution because when it comes right down to crunch time and I’m looking somebody in the eye and they say warrant, what have you done first? You know, this is my number one or two financing and this is and here’s why I’ve done it. That there’s a credibility that that comes out of it. And the reality is that many donors, their lives are busy and they haven’t thought through the array of alternatives they can contribute to and how they can go about extending their leverage.

[00:12:12.34] spk_1:
So the fundraisers job is to educate, educate them and educate about the work that’s being done also what those exactly those programs are doing. Um I I presume you’re a believer in 100% participation, fundraising participation on the board.

[00:12:33.74] spk_0:
Absolutely. I mean on the one hand and say, and people give in relation of capacity, I was the chairman of the board of the hospital. I’m sorry. You

[00:12:39.30] spk_1:
cut out a little bit there people

[00:12:40.35] spk_0:
give chairman. I was a chairman of a border.

[00:12:42.79] spk_1:
Wait 11 further step back. People giving what level, What did you say?

[00:13:07.34] spk_0:
I say people, Uh, it’s not the level that you give your question. It was your your question was do I believe in 100%. I do, but I want to say at the hospital board share. I valued the $25 I got from the homeless mother in East Cambridge As much as I did. The 200,000 from the main present because she was the eyes and ears of the community. She gave enormous value and her commitment was to the institution. So that’s why I believe in the 100%.

[00:13:30.14] spk_1:
Right? And, and of course for someone without a home, $25 as a stretch gift. So, yes. All right. And so you you would you go along the philosophy that there’s not a minimum giving level for for for every board member, every board member gives something that’s a stretch for their capacity, given their capacity. Is that is that how you would define it?

[00:13:44.54] spk_0:
Or? The answer is yes. But uh, yes. Yes. But

[00:13:50.98] spk_1:
that’s fair. Yes.

[00:13:51.89] spk_0:
Yes. It is on the real high end gifts. I might be willing to be the number of four philanthropy. I have two or three situations I’ve been in where, you know, somebody has given me a sort of a go away uh, token gift to them which has actually helped the enterprise meets goals. They didn’t even know they could have. So, I mean, it’s one of the things that we find in uh, in 2021 is that the shape of the giving pyramid has really become much steeper and taller. And so therefore the people at the top of the uh, the Jeff Bezos, his wife Mackenzie and so forth. I mean they uh, a small gift for her is a transforming gift, you know, for the receiving your organization. So that’s, that’s kind of the exception that I was referring to.

[00:15:04.24] spk_1:
And then after someone has given you, you talk about stewardship as you know, the engagement of past donors and trustees. And you say, stewardship is not an overhead item, but an offensive weapon. So let’s talk about stewardship. What, what, why? Why again, basic lessons. But, you know, I want people to get your perspective, ownership is a stewardship is so damn important,

[00:16:29.24] spk_0:
um, that you give a gift, um, for, uh, let’s say for an endowed chair that you maybe do that if you’re in your fifties or sixties, that when they come back and tell you how that chair is performing, it’s an opportunity for them to engage your thinking on the next level and the next level that, uh, one of them is going through a very different situation hospital where they didn’t report how the gifts were doing. You know, for people they gave, and they were wondering why people were dropping off the whole notion of it’s a lifelong engagement. And when you come in to tell somebody how their, uh, previous investment organizations doing, there’s a lot of interest on that part of the person hearing, how did their money do, But you’re also there in the opportunity to talk about other kinds of things and opportunities and move the discussion forward. And it may have been that an annual fund gift around the class reunion that may in due course lead no to a capital campaign. You’ll give, you know, somewhat further on down the road and it may be a plan gift even, you know, you know further down the road. And of course the art of the question is when you’re managing these lifelong relationships, you have to be careful not to move too much clothes quickly because if you in fact uh, get the short term gift, you may also be turning off the long term relationship, which can be more important. That’s that’s why this is such an art to this, this fundraising.

[00:17:19.84] spk_1:
Yeah. And and there’s a whole variety of stewardship methods, you’re focusing on reporting on the impact. But you know, if, if the first few gifts are, you know, in the 150 to $500 range, No, that’s, it’s hard to place impact, put impact upon that. But how, how would you steward those three and low four figure gifts? Uh

[00:18:15.94] spk_0:
It’s actually your point is that one of the first things when somebody graduates from college is we have all kinds of incentives to just get in the habit of giving $50 for $100 you know, for each of the 1st 10 years and you have a 10 year giving club that has given 10 years in a row, all 10 years enrolled for a, somebody who’d gone for 22 to 32 doesn’t add up to a lot. But the habit of delivering the habit of giving the engagement and so forth. That’s what’s really laying the seeds for much deeper support of some of them. You’re further down the road. And

[00:18:59.44] spk_1:
that makes me think of another stewardship method. You know, the recognition society, I think a lot of folks don’t think about having a recognition society based on longevity of giving. So you know, of course you’re using the, you know, 10 years, someone graduates from college if you can get them in a habit of giving for 10 years, there’s a very good chance unless you blow it That, you know, they’ll be giving for the next 40 and 50 years in increasing increments and in different ways and as as you’ve talked about. But that that method of recognizing giving for longevity, those folks who have been given to you for 25, 30 years and there’s longstanding organizations that have donors that do go back that far And maybe, you know, maybe maybe out of 30 years, the person missed two years as you give them a break or something, you know, but what you have, I mean, I longevity, not just the dollar amount each year

[00:20:08.64] spk_0:
as you’re talking about a fearful reports from right to my mind where the little asterisks, beside the people who’ve given for each of the last 10 years and double asterisks for the last one and you actually look at it and that of course is, you know, one of the things that’s important is that development people want to a point that putting out development reports and give them reports and so Fort is very expensive and you really should do this on the web and on screen. The fact of the matter is when I’m at my most philosophic, I’m flipping through report and I’m saying what my classmates or associates did on, it’s an organization my Children involved, I may flick back down to another part of saying and it just turned out to be false economies and a lot of the people that have undone the paper stuff and brought online have had to back off the other way because discussions and ruminations which were important were taking place.

[00:20:14.10] spk_1:
Yeah. You, you, you have some uh, anecdotes about that in, in the book which you know, we can, we can go, we can’t dive into all the stories. You just got to get the book. You just got to buy effective fundraising. So

[00:20:50.94] spk_0:
just start, uh, it starts from the very beginning, I think for example, uh, as I entered Harvard College as a freshman And my second day there, I’m sitting with 1100 people in the room and somebody is talking right and left and those are the people that aren’t there because you’re there and you’re feeling pretty good. And the next comment he made blew my mind, he said, and every last one of you was on financial aid. Uh, my father did not communicate me, talked a lot about the expense and he said, you’re here because of the philanthropy and generosity of the generations that came before. But at your 25th reunion, you will have an opportunity, will pay that generosity and the numbers went something like that. That thing just slow across the room. And 1100 mines. A lot of it’s stuck there. And, and the 20th reunion, there was a $200,000 gift. And at the 25th, there was an 8.5 million and the 35th. It was a 25. And that the habit, you lay the idea down very early

[00:22:40.24] spk_1:
On the very first day, they say 25th, he’s already got you giving to the 25th reunion. That’s right. Right. Right. All right now. seven. It doesn’t have to be a college. There’s there’s a very good lesson there. My synesthesia is kicking in. I’m getting goose bumps. Thank you. They listen talking about this. Uh, yeah, there’s a very good, you know, you get people in early and you and you and you cultivate those relationships. You cultivate that, that relationship long term from the, from the outset, You know, so, so for your organization’s, you know, take the lesson there. You may not, you may not be a school, you know, the first day of college, but you can be cultivating from the very early stages. Absolutely, a long term relationship. All right? Yeah, stewardship critical again, warren calls it an offensive weapon. Um, let’s talk about the head of the development Committee. This is something that I’m sure listeners do have. Even if, you know, even if it’s a small board, there’s at least a development committee of, you know, two, maybe three folks. But you spend time on the, on the, you know, in the, in the parties to the, to the board, talking about the head of the Development Committee and some skills that you like to see there. What what are you looking for in, in that position?

[00:26:09.54] spk_0:
If somebody who’s got to be able to mobilize other trustees to come and join in the giving operation, the ability to reach out, uh, into the rest of the board, make them understand this is part of their job. They had somebody who, whatever their going out and talking about the organization. The organization is in their mind maybe to me don’t, but uh, Is a, it’s a job that’s 24 hours per day, seven days a week, and even more so for the development person. But uh, I just remember a situation that, uh, I was heading up the capital campaign for a religious organization, came out in the Boston Common in early january, you know, the temperature was about two degrees, the wind was blowing. It was miserable. I had 300 yards to go and I ran into one of my former students, uh going on, he stopped and said, what are you doing? I said, I’m going off, you know, to to join this. Uh this just felt me, this religious organization said, oh, you know, I’m a member of that religion, this is somebody who has, his wealth was considerable. And I just kind of stopped and said, well, you’ll tell me more. The temperature suddenly went up to about 60 degrees, the wind dropped down and I said, I was a senior warden of my church down in New Jersey. Yes, I said, but you’re not there anymore, So which church do you belong somewhere? I’m now up with the one in Wellesley. And I said, that’s terrific. And we disappeared out. I got to the office and sat down and he said, listen, this is what it is all about. And that my former student was in his office, you know, three weeks later for lunch and over lunch, you know why? That the head of the terrorist organization uh expressed an interest to actually see this person perform in the classroom. And so I never want to see me teach. But he went and watched this summer student of mine no teach. And that led to another nice consistent pro bono consulting assignment. And uh and Result of the whole thing was system is about $500,000 gifts that took place in such a tasteful way, you never even know what happened, but that’s something you just do recognize the opportunity and you have to stop, you know, put the thing together. You got to be creative and the head of the Development Committee, I want them there. They need to breathe and live the organization. You know, 100% of the time, it means they’ve got to have a close working relationship with the Chief development on Mr. They have to have a close relationship with the Ceo to make sure that they’re always always in

[00:30:30.54] spk_1:
line. Great, great wisdom. Yeah. And uh, you say you want the person to be persistent and fearless and you know, that all that, that all is uh, epitomized by this story you just told that’s outstanding. Thank you. It’s time for a break. Turn to communications. They’ll help you find your voice and they’ll get that voice heard in the right outlets like The Wall Street Journal, the new york Times, the Chronicle of philanthropy, Fast Company Market watch many others where they have the relationships to get you heard. So what does this mean? Get your voice uh, find your voice and then get it out there. Well, defining the voice. They’ll help you craft your message. I mean, you’ve got your key points, but you want to make them cogently concise coherent. Look at that. Cogent, concise, coherent. Yeah, that’s what you want to do. So that when you’re talking to the journalists at these incredibly good outlets, You get quoted. That’s what you want. You want the quotes. I mean you know saying that you said something and then they paraphrase it. Yeah that’s pretty good to look. It’s your name, it’s your organization of course. But the quotes that’s the gold standard. Turn to will help you craft your message is you know what the message are. They’ll work with you to make it. What did I say? Cogent write, cogent, concise, coherent so that you get the quotes in these excellent outlets. So help you find your voice, they help you get that voice heard turn to communications. You know this your story is their mission turn hyphen two dot C. O. It’s time for Tony’s take two. I’ve got a free timely webinar coming up for you planned giving in the pandemic era. It’s graciously hosted by J. M. T. Consulting. I’m grateful for that. Their gracious. I’m grateful. We’re doing this on september 30th. From 2 to 3 Eastern time. I’m going to talk about what planned giving is who your best prospects are. Where to start your program and how planned giving fits in our pandemic era and of course you got to have the all important Q. And A. That’s where the focus goes on what you’re thinking what what is on your mind. I can only channel so much of you. I need you to fill in the rest. So that’s the all important Q. And A of course plenty of time for that also. So you have to make a reservation, it’s free. But you got to reserve, you go to J. M. T like Juliet mike tango from the old Air force days. Military folks will appreciate that. Also private pilots, JMT consulting dot com then events and then expert speaker series. That’s the only category they have. I would have put me under something like middling speaker series or lackluster speaker series. But alas, they don’t have those categories there. Of course. The problem is not going to create a category just for me as well. Just stick with their default category of expert speaker series and squeeze me in there. So that’s um, that’s where, that’s where you go. JMT consulting dot com events, expert speaker series. It’s all on september 30th two to three Eastern. I hope you’ll be with me for planned giving in the pandemic era. That is Tony’s take two we’ve got boo koo but loads more time for effective fundraising with Professor Warren Macfarlane. Another another part of the part of the board is the board chair. The chair and the Ceo the chair Ceo relationship that that’s critical. I’ve I’ve seen very dysfunctional relationships where there was micromanagement and you know, too much in the details. But I’ve also seen very healthy relationships where it’s it’s it’s supportive and collegial between the board chair and the ceo talk about that relationship please.

[00:33:47.34] spk_0:
It’s the most sensitive one. You know, in the, in the organization that the ceo is that it’s first of all, it’s peculiar to nonprofits. This is not known in the for profit world. And for that, the notion of an unpaid non executive chair of the board uh working with a paid seal. Uh the first problem is people have, coming from the private sector, have trouble understanding how that system works, that it means that the two have to be in public very much. It’s a Pataca. I can remember that, you know, one board that I chair, that the uh CEO and I would fight furiously but always 10 miles or more away from corporate headquarters. But when you’re there with the board and with the stamp, the hands around each other’s shoulders of the, like the jokes were going back and forth and you made sure you couldn’t put a slim nail you in between the two of us. I mean, that relationship is just an absolutely critical kind of one. Now, what’s also interesting courses, in some cases, why the chair maybe a very much of a development uh project, that there was a wonderful book that was just written by one of my former students said, hey Jim, who is a uh investment maker in in new york, he is chairman of the University of Russia’s Sir board of trustees. And his book describes, you know, how when he was asked to do that job, he said, I just can’t do it because I’m amazing. I need Rochester’s short of money. We need somebody to really raise the money and the president just kept working on. And finally my friends, these types of books, just what is the largest gift that’s ever been given To Roger? So it was back in 1926. George Eastman gave $26 million dollars and uh, he spent some more time and money and his family said Rochester did so much for me. We’re going to do a little bit more than that. Now that’s the chairman who, I mean, he gives with his treasure, he gives his time and his block and he’s a, he’s a remarkable person. He was an orphan basically from orphanages from the time he was age seven to age 16, and one in ROTC scholarship out of the orphanage, you know, into uh, into Rochester. But the whole notion behind that in terms of how our chairman can support is really, it’s, the chairman must be philanthropically oriented, must understand the development mission, must be able to uh, work around the strengths and weaknesses, you know, of the Ceo

[00:33:55.34] spk_1:
uh, fill me in a little inside baseball on corporate boards. What what’s the role, what is the role of a board chair on a corporate board.

[00:34:22.84] spk_0:
Um, the, in the, in the ideal world, the board share is a sports chair and Ceo and you have a president and chief operating officer boy. So the board share it, Uh, it’s basically, it’s, it’s the Ceo job. Now from time to time with emergence, You may have somebody left over from emergency you need to send with, so you may make them sort of a non executive chair of the board and give them a nice office about 10 miles away from corporate headquarters and the three years work while you work your way through your retirement, earn out and so forth.

[00:35:16.74] spk_1:
Okay. So it often is the, it’s the chairman, Ceo chair chair and Ceo. Okay. All right. So going back to nonprofits, what’s your advice warrant on fixing the relationship? I mean, if I think CEOs would know if they have a dysfunctional relationship, whether it’s micromanagement or maybe the board chair is too hands off. Maybe he or she is not a strong leader of the board, not a consensus. What, what advice do you have for the C. E. O. S. Two improve the relationship with the

[00:36:15.53] spk_0:
board chair? Well, there, there’s several things, you know, the first one is that The length of tenure of the board share, uh, is often just 2-3 years And if you want people to rotate through that. But the critical person, this is again, is the head of the governance committee that the head of the government’s committee is one of your wisest, most senior atrocities and their job is to make sure that that relationship is working. And if it’s not working to find a way to sort of you move the thing along, it’s a it’s just it’s a terribly difficult and awkward thing and of course it’s complicated because you know, people have tremendous egos, it’s alm except that uh the people amass the well father to do these jobs, they don’t suffer from an underdeveloped of self concept. And so how you deal with their he goes uh is very tricky,

[00:36:29.43] spk_1:
right? But so what, you know, what what specifically I mean, do we have a heart to heart conversation with them and say look, you know, I think, you know, and I know, you know, this relationship is not ideal. Can we can we talk about it or you know, or is it just, I mean, I hate to leave folks just wait until the board chair’s term has ended and then, you know, we hope to do better in with their successor,

[00:38:16.52] spk_0:
their to their to their their two or three different ways. The first one is uh the question is whether it’s the board chair problem or the C. E. O. I mean, this is of course, you know, one of the problems because in fact the paid Ceo does report, you know, to the board and to the board chair. So the the power actually lies on the on the other uh side that the question there that they’re all they’re all kinds of consultants who can come and help, you know mediate these things. But when you get to that level, it’s already broken in a distaste away and the hardest problem is to try and avoided getting in it at the beginning and that has to do with how you pick the people, you know, in in, in the roles and that uh, sometimes we was in a very difficult situation from your skull were uh, the new board share uh, just almost immediately immediately started pushing things in that as he learned about the organization, uh, he came up with a strategy just wasn’t going to work for them and we had to reach in and in the most tender way, get him out. But then this is because uh, to get him out knowing he could also be a supporter of the organization. And so it was just about as complicated as you can say to get the dirty deed done, but we love you, we need to and can help you and the boys a lot of scrambling and a lot of stomach just turned around and came to a happy ending on on that part of it. But if the strategy that was would not have worked and would have actually driven the organization the bankruptcy,

[00:39:08.72] spk_1:
you have to be very, very careful about circumspect about who you put in the board leadership, you know, if even even vice chair because the presumption is that the vice chair is gonna become the chair, assuming he or she is, you know, competent. So you have to be careful there and and other board leadership positions to its it’s very important and you you you’re right, I mean you can end up with uh it’s something that really is is detrimental to the organization and you’re stuck, you know, for two or three years.

[00:39:30.42] spk_0:
Well. And you know, this is of course why it goes back to your very first question when you asked me, you know, why did I pick the governance committee to start? It’s because that’s the place where these issues get sorted out and need to be sought on the strategic way. Mhm.

[00:39:31.32] spk_1:
Yeah. Put put time into thinking about these things and planning, planning, succession planning, I presume you have a succession plan for for the ceo you know, there should be succession planning on the board as well. You know, we talked about as people leave the board, but succession,

[00:40:09.31] spk_0:
oh we know the slots that you’re needing to recruit for. I always need to have a couple of uh potential board chairs ahead of the Finance committee, one or two heads of the development committee and the job, it’s a delicate because when you who clued somebody onto the board, you often have a view as to what role they’re going to be best set. They may not, however, understand that and they may be so excited to be on the board that they want to sort of dive into some area or they have neither skill nor So it requires some discussion to sort of make it that make that work out.

[00:40:58.01] spk_1:
Yeah, I was invited to be a board member once and I I turned it down because I didn’t think the organization had really thought through what benefit I could bring to the border. You know, why I’d be a good board member. Um, it was a smaller organization and I was supporting the work. But I I didn’t I just didn’t feel that they had done their due diligence around me and you know, why they wanted me. It was just, well, you’re a supporter, you know, you’re you’re in the area. So, you know, would you like to be a board member? And

[00:41:00.97] spk_0:
I mean,

[00:41:02.86] spk_1:
time, time constraints went into it also, but I didn’t, I didn’t feel and I continued supporting the organization, but I didn’t feel they had they were really taking board membership as seriously as they should, even as a small organization.

[00:41:18.91] spk_0:
Yeah. You never know until it does man, you got mixed into all these things and it can turn so bad, so you’re just much better to not get started and getting into one that doesn’t fit

[00:41:47.81] spk_1:
right. And then, you know, the embarrassment of you have made me having to leave before your term is over and then there’s bad feelings there, and I just Yeah, so think through, you know, be careful about, be thoughtful, be circumspect about who you invite on your board,

[00:41:49.02] spk_0:
That’s

[00:41:49.65] spk_1:
two or three years can be a long time with the difficult board member or a couple of board members. Two or three years can be a long time.

[00:41:58.11] spk_0:
Yeah. And a lot of them maybe, uh, sits here so

[00:42:09.60] spk_1:
well. Yeah, that’s a, that’s a long, that’s an awful long term. Six years. I mean I’m all for, you know, maybe extending for a second term, two or three years and then, and then the second term. But

[00:43:13.60] spk_0:
I remember this battle that I lost some years ago when on sports share and that uh, this person had endowed a new athletic field for one of the universities in the area. And we needed a new athletic feeling a little bit around the edges. Often I said, uh, I need him on the board. The head of the company said one, this isn’t going to just fit this question, but I’ll make sure he sits beside me every meeting, I’ll keep him under control. Said one even got two more years left, he’ll be here afterwards and we didn’t do it. Somebody else got the gift. But I’m pretty sure it was the right one because that they, there is a culture that you have to deal with. And that’s that if you have overtly disrupted people that can, in fact, that’s just supposed to people who have good clear ideas, well reasoned that are different than yours. That’s a whole different topic. But uh, loosely cannons learning around can can cause all kinds of difficulty.

[00:43:41.60] spk_1:
I think it sounds like you were wise to uh, to take the advice of the person and not bring that member honest, but that’s a very good point. You know, warren, you’re only gonna be here for two more years, they’ve got years after that and you know, and really, how well are you going to be able to constrain them? You know, if, if these, if the person becomes obstreperous in, in a, in a board meeting, are you gonna be willing to, you know, put them back in their place publicly in front of the rest of the board and maybe there’s staff in the room at the same time and that could have been ugly. So you were wise, I

[00:43:52.60] spk_0:
didn’t feel wise this time, but the way you describe it, you’re absolutely correct.

[00:44:20.59] spk_1:
Yeah, okay, we’ve said enough about how bad it can be. Um, so hopefully you have a good board chair ceo relationship, it’s, it’s supportive, its collegial like you said, you know, you, you couldn’t drive a thin nail between the two of you in public but you have, you have things out in private and, and, and there should be a lot of communication and I think a board chair and see, you know, they should be in touch. I don’t know what’s a week or so.

[00:44:22.25] spk_0:
It takes a month, right? It takes a lot of time. Uh, the ones that I was working on recently, it just turned out that uh I was taking 40, 30 to 40 hours a week of the chair. And that means you got to make sure you have the time uh to put into that

[00:45:14.59] spk_1:
too. Yeah, and the person that you’re asking has the time. Yes. All right, so I’ve been I’ve been looking forward to talking to you about planned giving. Yeah, because you have a chapter on plant giving and foundations, and I’ve been making a living a plan giving for A good number of years, 2400 years. Uh and your plan giving donor, it sounds like uh so and you’re you’re playing giving chapter, you spend most of your time, and it’s just, you know, it’s one chapter and you make the point that playing giving could be a series of books. And indeed, I have

[00:45:21.00] spk_0:
a I

[00:46:13.88] spk_1:
Have a 400 page treatise on planned giving, you know, on my shelf that I hardly ever have to refer to, but when I do it’s comforting to know it’s there. Um so, you know, your your chapter is an overview of you talk about iras and trust, different types of trusts and uh charitable gift annuities. Um um My focusing planned giving is now, so I I I I am a startup plan giving consultant. I I initiate the kickoff launched programs. Um So my focus is mainly on Will’s because I think that’s the place to start a plan giving program. Um but again you’re doing an overview, You’re not talking about starting a plan giving program. Your your chapter gives an overview of playing giving, but I’ve still been anxious to talk to you about it, especially, you know, because you’re playing giving donor to what what do you what do you see as the role of planned giving, how critical to you is

[00:49:23.97] spk_0:
This to me? It’s uh that it’s as you pass by a certain point in your life and I don’t know whether it’s 60 or 65 uh that the actuarial tables begin to sort of uh well differently. And that uh somebody uh is looking at once to make a meaningful gift and they may be worried about, you know, the cash flow and something like a channel remainder trust or channel annuity is that the donor life, the fact they’re able to give a big number And they in fact, no, they’re going to live for another 40 years. And so it’s a big deal that you and the other side, you know, the end is much closer than the dome. So it’s a very happy kind of situation. Uh And what it really does is that people who are going to worry about end of life expenses are able to use this set vehicles and there are all kinds of tax incentives. I mean the one I personally caught my attention was the I. R. A. I’ve spent 30 years of my life you know building that up at every step along the way for retirement income. And that somebody had developed wants to sit down and said that you do understand you know what the tax implication is when you die of the I. R. A. And by the time you look at he said this is actually free money because you’re not taking very much away from your kids and you’re giving a lot more you know to the charity. And so those discussions can be just enormously beneficial and it’s uh but you bring it up with sort of the right point in a person’s Your life at Harvard. We never heard about a charitable annuity at a reunion before the 45th reunion. And by the time becoming the 60th that’s all you’re hearing about these vehicles. So that that that that there’s a time and a place for it. And it also of course comes back to our earlier discussion of the of the uh the annual fund giver. The trustee who becomes a trustee emeritus contributes to a capital campaign. And then plan giving comes right on. And as you get into the habit of giving through the other things you become more receptive, You know, nor philanthropic about these later on in your life kinds of up to us. And that what you need there is you need people who are really specialists like yourself because there are 1000 ways you can put the thing together. And I picked just about six or seven or what are the most common ones to, to make them the point. But those are the ones which, uh, your hospitals and museums and college so forth. You tend, you tend to use.

[00:50:28.46] spk_1:
Yeah. And I see it as essential to the stewardship of donors. You know, you want that lifetime relationship. It’s, it’s stewardship over a long period. But in the, in that period there are, there’s cultivation and solicitation, you know, for the next gift. So as your stewarding over a lifetime, you’re cultivating and soliciting for different, different phases, you know, the annual, the, the major, the capital, the, and, and, uh, ultimately the planned gift. Um, so it’s, uh, so I’m interested in, you know, you as a, as, because I worked with a lot of plans giving donors. Um, I’ve worked with thousands through the years. Uh, but you know, I don’t get to have the conversation with them that I’m, you know, on the same level having with use. I mean, so I, I have to sort of suss things out a little bit. Uh, it sounds like for you, the tax advantages of, of the Ira, we’re appealing

[00:50:29.99] spk_0:
Well, but

[00:50:31.61] spk_1:
that tax advantage was moving for

[00:50:33.94] spk_0:
you when I looked at, I said, this is, this is a very inefficient way to distribute the IRA and my kids, I can,

[00:50:42.21] spk_1:
they’ll be taxed on.

[00:51:25.56] spk_0:
Exactly. And so therefore this is money that I can get much more leverage. And by giving out to the outside so that I’ve been really hammering at people that for the last uh, five or six years. Then you come back to the notions of, uh, where you want to make a really significant, you know, impact. And this is where charitable remainder trust uh, can be really helpful so that you want to sort of make a half million dollars million dollar gift. But you have to worry about keeping the food on the table through your declining years. And there, Oh, that uh, that you put the money inside for that trust. And it takes care of the income to your life or your life and your spouse’s life. But there’s a big number that goes to the, uh, the museum of the university of what? Not at the end. And then of course it becomes particularly interesting is still Harvard uh, does it very nicely, is that you can designate up to 49% of it to some other organization. And

[00:51:57.59] spk_1:
right, well, Harvard, Harvard is an outlier there because they have the Harvard Management

[00:52:00.88] spk_0:
corporation. But what that does

[00:52:11.85] spk_1:
just, that was just for your trust, most, most nonprofits can’t do that. And, you know, the trusteeship ends up being with the, with a Fidelity or Schwab or, you know, some, some financial institution.

[00:52:16.41] spk_0:
But what it does is it, uh, in that case it allows organizations that don’t have very sophisticated plan dealing. And you really worry about the investment advisors, they’re using uh you can sort of put that underneath the same, I’m broad and the fidelity to do the same thing.

[00:53:01.85] spk_1:
Your larger point that one remainder trust can help multiple charities. And yeah, I know you make the point in the book that Harvard Management Corporation allows that. So as long as I guess, I guess as long as 51% goes to Harvard 9% can go to other charities. Uh, But if it’s an outside manager and some some financial institution manager acting as trustee, then uh oh there is unlimited ways you can divide the, but then the lots and lots of charities from one single trust

[00:53:25.85] spk_0:
as somebody who makes a living designing these things. Of course, your greatest single friend of this is the U. S. Congress because the laws change. And just as soon as you have finally tuned strategy in one place, you’ll go off change and then you have to come back and you re think about it. So it’s it’s a it’s a it’s a continual ideally, once you getting along you can’t just do it right. And it’s done.

[00:53:54.05] spk_1:
Yeah. But this the significant tax code changes only come like every 15, 20 years or so. Yeah. So you’re you’ll go through a couple in a career. Uh, But again and again, you know, my work is mostly at the at the formation of planned giving level. I mean I’ve I’ve done $25 million dollar lead trusts and I’ve done multiple remainder trusts and hundreds of gift annuities, maybe thousands. I don’t know hundreds at least. Um, but my work is mostly at the formation stage, getting folks getting nonprofits set up with

[00:54:10.24] spk_0:
just how to do

[00:54:35.44] spk_1:
it. Let’s start asking with because let’s start asking for bequests simple gifts by will. Let’s start there. That’s the foundation. Uh, I believe of of any planned giving program is, is just a simple gifts by will. Um, and then in years later, you know, you may graduate to the more sophisticated gifts depending on the size of your organization. You might not, you might just, you might just be content with doing requests indefinitely and you’ll capture most of the plane gifts anyway because that they’re always the

[00:55:03.44] spk_0:
the most common comment is powerful. The will is, is the first place. And then of course, uh, way way back when that I can that I remember somebody, uh, one of, one of my ancestors uh, basically uh, was going to give a gift of, Of a, of a certain percentage of first stage and the other as you know, I don’t want to do it that way. You want to make sure that uh actually gets a specific money. And so instead of the percentage putting what you thought was a huge number, which was actually 1/10 of what we had it gone the other way. So you have to have all sorts of funny kind of twisted thinking that you have to sort of unravel that process.

[00:55:59.74] spk_1:
You, you flush that story out in the book. You tell that one in a little more detail in the book. So folks got to get the book. Um, warren, let’s, let’s leave folks with just, You know, you’ve got these 40 years of experience, multiple, multiple board memberships, board chairmanships. You’re a donor in your own right through times, decades and decades. Leave folks with some, some fundraising wisdom, please.

[00:58:02.02] spk_0:
I think that uh, philanthropy is fundamentally a very satisfying activity that basically you’re helping to move social causes along along that I next, of course, is the whole power of the nonprofit sector is that I have there there’s almost a spiritual aspect uh, built to it. I, I enjoyed my corporate boards. We make changes things that nature new parts or what, but there’s something different. There’s something different in the nonprofit and when you’re trying to sort of move society along in some ways that you think are, are important and uh, that what you have to learn is that all you have to educate people on the opportunities. Uh, that the book was originally with basically the nutritious e right after a lot of them are asked to be trying to be, the first thing they say is do you have to ask people for money because I’m not good at it. And the answer is yes. You are going to have to ask for it and we can train you how to ask for it. And it starts by, you’re basically making a major commitment because that gives you the passion and so forth to move the cause forward. But it’s uh, it’s when the four organizations I’m involved with now, he’s one of them are ones that I actually believe in the, in the mission in a deep internalized, you know, real kind of of way. And if I didn’t, I’d have, I’d have gotten involved in other things. Just mean, you can’t pick up new choices, a lot of ways that some of the smaller things I do, uh, they’re very interesting, uh, the kinds of ones that, uh, core values, but it’s, it’s an, it’s an opportunity, you know, to, to move the world forward. And that’s that’s that’s that, that that’s what why people give their time in the, in the treasure.

[00:58:10.32] spk_1:
Thank you so much. Warren fre Mcfarland, he’s a Professor emeritus at Harvard Business School. The book is effective fundraising, the trustees role and beyond. Published by Wiley Warren, thank you very much for sharing.

[00:58:22.23] spk_0:
It’s great with just terrific. Thank you so

[00:58:42.82] spk_1:
much. My pleasure if you missed any part of this week’s show, I Beseech you find it at tony-martignetti dot com were sponsored by turn to communications pr and content for nonprofits. Your story is their mission turn hyphen two dot c o. Creative producer is

[00:58:43.78] spk_2:
Clan Meyerhoff

[00:58:44.70] spk_1:
shows. Social media is by Susan Chavez. Mark Silverman is our Web guy

[00:58:52.92] spk_2:
and this music is by scott stein. Yeah, thank you for that information, scotty you with me next week for nonprofit radio Big non profit ideas for the other 95%

[00:59:12.72] spk_1:
Go out and be great. Mhm. Mhm.

Nonprofit Radio for September 6, 2021: Turn Followers Into Donors

My Guest:

Adora Drake: Turn Followers Into Donors

Adora Drake has a strategy for converting your social media followers into donors. Let’s hear what it’s all about. Her digital marketing company and coaching practice is Adora Drake Marketing.

 

 

 

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Every nonprofit struggles with these issues. Big nonprofits hire experts. The other 95% listen to Tony Martignetti Nonprofit Radio. Trusted experts and leading thinkers join me each week to tackle the tough issues. If you have big dreams but a small budget, you have a home at Tony Martignetti Nonprofit Radio.
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[00:00:02.84] spk_2:
Hello and welcome to tony-martignetti non profit radio big non profit

[00:01:43.74] spk_0:
Ideas for the other 95%. I’m your aptly named host of your favorite abdominal podcast. Oh, I’m glad you’re with me. I’d be forced to endure the pain of Kaif Asus if you twisted me around the idea that you missed this week’s show turn followers into donors. Adora drake has a strategy for converting your social media followers into donors. Let’s hear what it’s all about. tony state to planned giving in the pandemic era. We’re sponsored by turn to communications pr and content for nonprofits. Your story is their mission turn hyphen two dot c o and by sending blue the only all in one digital marketing platform empowering non profits to grow tony-dot-M.A.-slash-Pursuant in blue. It’s my pleasure to welcome for the first time Adora drake to nonprofit radio She is a digital marketing strategist coach and consultant. She helps nonprofits feel inspired to take action, gain clarity in their marketing strategy and learn how to convert their followers into raving fans who want to be part of their mission with her unique coaching programs. Her company is at Adora drake marketing dot com and she’s at Adora drake on instagram. Adora drake. Welcome to nonprofit radio

[00:01:46.94] spk_1:
Hi, so happy to be here.

[00:01:52.94] spk_0:
It’s a pleasure to have you Glad you are. Yeah, well where are you from? Where you zooming in from.

[00:02:00.54] spk_1:
So I am actually born and raised here in Dallas. We’re just unusual now because there’s so many different people here in texas but I am actually Born and raised native here in Dallas Okay right If you

[00:02:08.69] spk_0:
Live there more than four years, you’re a

[00:02:10.09] spk_3:
native. You’re

[00:02:14.23] spk_0:
a bona fide. Your bona fide.

[00:02:15.65] spk_1:
Yes. Like generation Texan here. Okay.

[00:02:19.93] spk_0:
I got a lot going on in texas now.

[00:02:22.18] spk_1:
Oh, tell me about it. Academic

[00:02:23.95] spk_0:
wise. Legal wise now, just a Russian abortion wise just

[00:02:28.49] spk_1:
today. Oh my goodness. Right. I’m like, wow, this is a big melting pot of stuff. Yeah,

[00:02:34.05] spk_0:
I don’t do politics on nonprofit radio We can do that off line, but good

[00:02:40.13] spk_1:
lot going. You’re

[00:02:53.74] spk_0:
in the news texas is in the news. It’s not to me, it’s not all good. I’ll leave it there. All right. Um, so you have a way of helping our listeners turn there social media followers into donors. Isn’t

[00:02:55.79] spk_1:
that right? That’s correct. That’s correct. I hope it’s correct for that. Yes,

[00:03:00.49] spk_0:
I hope it’s correct because otherwise we’re done.

[00:03:02.81] spk_3:
Okay,

[00:03:04.57] spk_1:
absolutely correct. tony

[00:03:05.71] spk_3:
Okay.

[00:03:07.45] spk_0:
I got one thing. Right, so far.

[00:03:08.65] spk_3:
Okay.

[00:03:13.74] spk_0:
You call this your scale method. Okay. What, why don’t you outline the elements of scale and then we have plenty of time to go into each, each step

[00:03:22.34] spk_1:
separate, awesome, awesome. So scale stands for social media content, audience lead an execution and like you said, we’ll go into each part of that scale method and how you can use that skill method.

[00:03:36.94] spk_0:
Okay. And you’ve obviously seen success with this with nonprofits that you work

[00:04:00.24] spk_1:
with. Yes. Yes. Yes. So I work with a small nonprofits all the way to midsize nonprofits and I’ve used a scale method on them. The process is very simple to follow. Um, as long as you really stick to that scale method, I know you’re gonna see some, some really good results from getting people from your social media and building that are all the way into getting people to donate, getting those funds.

[00:04:03.46] spk_0:
Okay. Well small and mid sized shops. Those are our listeners. Yeah.

[00:04:07.91] spk_1:
So

[00:04:11.74] spk_0:
Perfect. All right. So, um, social media, right For us. Okay. What do you have your principles here? What do you like to see done here?

[00:05:00.74] spk_1:
So one of the things that I know a lot of non profits and even for profits getting mixed up is they feel like they need to be everywhere. And that’s not always the case. So the first thing you want to make for sure is that you really hone down on that persona and your target of who do you want to have, um, come into your, your nonprofit or follow your nonprofit and who is that potential donor look like? Because that’s going to be really important when it comes to choosing the right social media platform. Each social media platform has their own features. Um, they attract different types of audiences. And so it’s important if you don’t know who that persona is, you might pick the wrong one and focus your efforts on the wrong one. So number one is to really hone in on your target, Once you figure that out and you choose a social media platform, that’s when the fun begins because now, you know, that’s where my audience is and this is where I can start putting out that content.

[00:05:09.64] spk_0:
Okay, okay, before we get to the content. So you want folks to look ahead to what the future donor is going to look like so that they’re on the right social networks?

[00:05:39.84] spk_1:
Yes. You have to know exactly who you want to attract. And for those of you who have already, you guys already have an organization going, you need to just look at the people who have already actively been involved with you, like who are the people who come to your events, who are the people who register uh, for your webinars or whatever your fundraising events are. Look at those people and see where would they particularly be on social media, That’s where you want to start attracting people who are already interested in your organization and picking more people, just like those people.

[00:05:48.64] spk_0:
Okay. Right, Right. Makes sense. All right. So, um, you know, be a little specific about some of the, some of the platforms, like, you know why my, why might you choose instagram over twitter for instance?

[00:07:24.74] spk_1:
Well, they’re completely different. If you were gonna go if you’re more visual, you really need to show your audience, you know, some of the projects that you guys are working on, you want to make sure that you have really good chris pictures and things like that, that’s really where you want to go to something like an instagram or Pinterest um those are really like I said really visual, these are, people are gonna be scrolling really quickly and often before they see your caption or before they see anything else they see this huge picture of something you’ve posted and so it’s really important that you get that right. Um if you are going to be showing some really visual type of content now, if you’re going to be sharing more like informational content, then you might want to lean towards something like twitter, twitter is, has its own legal system of people who are interested in information, they’re sharing information, they want to follow information they want to like, and they often click off of twitter and go to your website. Often more often they would on instagram and so if you are an organization there that’s trying to get an event for instance, out there to your audience, twitter might be a better, a better platform for you. So you just need to look at the different features and then get an idea of where can I find my target audience and how can I better create content for them? What your video is a big thing now, you know, video, especially on the other platforms are trying to adopt more videos, just like youtube, but youtube is the king of video um but also the other platforms you can do short video. So if you teach something or show something, you know, for two or three minutes posted on instagram are posted on twitter. That’s another way to show how to get in front of the right people on those platforms.

[00:07:47.74] spk_0:
You haven’t mentioned facebook now, there’s a lot of disenchantment with facebook as organic reach has plummeted. They just want your dollars to expand your reach. What’s your, what’s your thinking on facebook?

[00:08:23.54] spk_1:
So when, when people think of facebook, they do think of facebook advertising because it is probably have the best advertising if you are going to start. But that it is really good for organic as well. There are a lot of different groups. So if you know for sure that your audience is interested in, let’s just say feeding the needy or something like that, it might be really good for you to create a group specifically around that because you can later use that group, uh, to give out your information or get them on your email list. And so there are some ways that you can organically benefit from being on something like facebook.

[00:08:24.92] spk_0:
So you’re, you’re saying better maybe on facebook to create a group devoted to your cause versus versus using your nonprofit page to put content out. Is that what you’re saying.

[00:09:46.04] spk_1:
Yeah, and the reason why you would want to do this is because people don’t like to feel like they’re being sold to it. I don’t want to feel like, you know, you guys are just gonna want to follow me because I’m, you know, I’m gonna give you funds, you want to really build a relationship and build interest around your mission. And so if you are, we’ll just use the homeless shelter. For instance, if you are, your mission is to serve the hungry or serve the needy, let’s say you make a group about serving your community and serving the needy. You get all these different people coming in, they’re really interested in this topic there. They serve their community. They’re gonna be more likely to want to come off of that platform or want to donate or want to come to your events because they are already showing interest from being inside of this group. Now, the difference between a group in a page, your page is specifically for your particular organization. So if you want to show something that you guys are particularly doing that week or you want to share your employees are doing keeping them in the note, that’s one thing. But that group is going to really keep people engaged because they’re already interested in this topic and you’re giving out information and they’re giving information and now you have a relationship. So when you get on social media is about building relationships, that’s, that’s where that social peace comes in and so you want to make sure that when you’re on there, that you’re building a relationship that way, when you ask for funds down the line, they’ve been knowing you, they they’ve been following you all this time. They’ve been engaging with you. They know for sure that you guys what you guys do and how you guys help.

[00:10:06.44] spk_0:
And are you saying that reaches organic reach, non paid is easier to achieve through a group than it is through a nonprofit page?

[00:10:15.64] spk_1:
Yes, absolutely. That’s because the reaches its a lot better when it comes to facebook. Um, you know, the reaches a lot better.

[00:10:22.60] spk_0:
Yeah. In the group

[00:10:24.11] spk_1:
in the Exactly. Exactly. And it’s a lot easier to give people, you know, into your group. And so once you’ve got people into your group, it’s yours. It’s your group. You can start collecting emails, you can start sending out, you know, particular information and of course they can go and like your business page, but it’s not it’s not the same as actually engaging in coming in and sharing videos and things like that inside of a group. It’s a little bit more personal.

[00:10:47.04] spk_0:
Okay. All right. So that that’s advice I hadn’t heard before that you’re, you’re more likely to get better reach with a with a group than with a page.

[00:10:55.46] spk_1:
Okay.

[00:11:03.04] spk_0:
Okay. Um, All right. So then the content that that belongs in whatever it is, there’s facebook group or instagram or you know, whatever platform you’re choosing, what how do you select the right content.

[00:11:29.34] spk_1:
So your content should be based completely off of the interest, which is usually your, you start with the messaging of your organization. People come and they follow you because they believe in your mission. They believe in what you guys have to offer and then you want to create content around that. So don’t switch and do something. If you’re talking about homeless, don’t switch and talk about something about the earth or something like that, you want to make sure you’re Strictly focusing on your mission. Then you want to use that 8020 rule, it should be 80% information, 80% sharing about your events and things like that. Then only 20% asking for donations and money. So very little bit of actual fundraising and more giving and actually engaging with people.

[00:12:59.24] spk_0:
It’s time for a break. Turn to communications. They’ll help you find your voice and get that voice heard in all the right places. So many of the places that you’ve heard of, like the Wall Street Journal, the new york times, the Chronicle of philanthropy, fast Company and market watch. Many others you’ve heard me recite through the weeks to help you find your voice and you’ll get your voice heard. Turn to communications. Your story is their mission turn hyphen two dot c. O now back to turn followers into donors. I like to empower folks within the nonprofit to um, create content on their own. Yeah, It’s not all just from the fundraisers or the marketing, communications design people, but you know, folks who are actually doing the program work. Maybe there shooting short videos or you know, etcetera, folks on the ground doing the work. What, how do you feel about that? You know, empowering folks on the, on the ground floor, uh, to create their own content.

[00:13:41.24] spk_1:
I totally agree with that tony because that’s where the real content comes. Like when you can look on there, let’s just use instagram. I’m scrolling, I’m looking and I see a picture of people actually handing out bags of food or they’re handing out there at the hospitals and helping people. And I’m seeing people on the ground doing things. Then I know that that organization is serious, right? I know that they’re actually out there on the ground and they’re not just some huge corporate where I don’t know where my money is going. So I think that that is a good idea to always have like you said, people on the ground actually making their own content and they actually can actually get to know your audience to. So when the data comes up, you know, you can actually see what are people clicking on and what are they commenting on? What are they saying And what type of things are they, are they liking? You know, so these are all going to help you down the line as you continue to great continent to really see by looking at your analytics.

[00:13:59.94] spk_0:
Right, okay, excellent point. I wanted to ask about analytics. The analytics vary. You know? Uh some some sites will give you more, you know, a play of some platforms. I should say like a platform like linkedin. Uh you know it gives you very little you might you might not be on you might not be on linkedin for for you know volunteer and donor relationships. But that’s just one that I’m most familiar with because I spent a lot of time there. So I know that they are particularly uh

[00:14:23.69] spk_1:
yeah I think about the algorithm.

[00:14:35.14] spk_0:
I mean about the uh the analytics unless you know you start paying for the pro the upgraded um upgraded packages but you know so you’re kind of at the mercy what platforms or what what networks do you see? You know are more generous with uh with the analytics versus less.

[00:14:45.14] spk_1:
Well let’s just let’s just start with what analytics you should be looking for. So one of the things that you want to look for is you know, not only just the followers but like how many lives you are getting? How many impressions you’re making? So that means that your content is actually being seen

[00:14:59.13] spk_0:
the real you want really metric. Yeah, vanity metrics. Like how many I’m not talking about

[00:15:08.74] spk_1:
that shallow. Right. And of course followers. That’s good to have that because you’ll see you know how many people actually following you

[00:15:12.87] spk_0:
wanted, you wanted trending in the right place. But that’s not the ultimate measure exactly clicks and shares and uh shares and comments etcetera. Much more valuable.

[00:16:10.84] spk_1:
Way valuable because it’s going to help you, even when you decide to run ads down the line, it’s going to help you decide, you know, which type of people actually click who, who is sharing, who’s coming to my website. So these are all in a little that you can look and use and then you can see like especially on instagram and facebook, they’ve got their demographics down to a science. You can actually start building demographics around that. So like I said, it’s going to help you down the line as you try to run ads. You know, what age clicks, what’s the gender? What are they most interested in? What other similar pages do they follow? These type of analytics that are going to help you really target that that person over and over and over again. So yeah, looking at those analytics is going to be key. The best. Like I said, the platforms right now that are really good at analytics or are the big three really twitter facebook instagram if you are on on Youtube, they have awesome analytics as well. I’ll tell you how many views you have, How many people have like your videos, how many people share your videos. So these are things that you want to see and collect that data and see like, you know, how can I find more people that I want to attract? How can I find these donors online?

[00:16:27.44] spk_0:
But Youtube doesn’t give you the demographics though, does it? Of of people who have been watching viewing.

[00:16:32.52] spk_1:
It

[00:16:49.24] spk_0:
does give you give you a job and age location. Okay. You too does Okay. Good. Alright. Alright. Um All right. Um So you’re I don’t want to go through these two quick, but let’s say, all right, maybe we’ll end up coming back because you got a lackluster host, you know? So sometimes times I think of things later on,

[00:16:53.31] spk_1:
All

[00:16:54.42] spk_0:
right, we’ll cut we may end up coming back, all right, but we’ll get through. Okay, So a is your audience go ahead? What’s what’s your what’s your advice around audience?

[00:18:36.74] spk_1:
Audience is mainly finding those people who are going to want to continue to follow you, gonna follow you off of the platform. And so one of the main things like I said is you’re gonna want to look for that persona and then you want to try to mimic that persona over and over again. Now, people are looking at vanity measures like, okay, well, I have a lot of followers, but there are specific followers that never leave you. They’re gonna always continue to follow and be there. And so when you go in on these platforms and you’re looking for these people and you want to make sure that you have that one persona down, and you go to these different profiles on there and you follow them and you engage with their content. And so a lot of people actually miss that they post things and then they leave or they posted and they maybe answer one of their comments on theirs, but they never go back to someone else’s or engaged with their posts. And so that’s a huge part of social media. Another thing, another thing with audiences being found, right, So you’ve got this great profile, how do you get found? Almost all of the platforms use hashtags. And so these hashtags are really important there, the element that are gonna help you be discovered by new people. And so it’s very important that you at least research 15 main hashtag um that you guys can rotate out so that you guys will be found if someone searches for that particular hashtag. So, for instance, hashtag social change. For instance, if you use that in your post, when someone types in social change, your post will be in that large list of uh directory where people can actually click that photo and see where is it coming from, that will lead them back to your profile. So, these are all things that you want to make sure that you have in order to build your audience.

[00:18:38.48] spk_0:
Okay. Right. So you want to you want us following folks who are maybe influencers that are following us. Be generous. Be generous with sharing their content, not just engaging with them around your own content.

[00:19:06.34] spk_1:
Yeah. And even if you’re not sharing your your on their profile, you’re asking them questions, you know, what do they do or what, why do they like, x, y, z, you’re just having a really good conversation with them and most like, I don’t want to come to your profile and see what you guys have to offer, and that’s how you get a true follower that I want to engage with, you, not just somebody who will be going in two hours. And so it’s really important that you engage with these people and build relationships.

[00:19:18.14] spk_0:
Okay, so the relationship building and the use of the right hashtags,

[00:19:19.88] spk_1:
that’s how you get discovered related

[00:19:25.14] spk_0:
to your work, should be, should you be creating your own hashtags or better to leverage off hashtags that are already existing, but others have already you, I mean there’s maybe hundreds of thousands of people already using an established hashtag, so it’s better to go that way or better to create your own and try to build momentum there.

[00:19:56.34] spk_1:
You definitely those 50 hashtag that I’m talking about, you do want to do a little bit of both, but mainly you want to use the ones that are already already being used because people are actively using them, they can actively find you now, once you build a bigger audience, of course you can use your own hashtag then you can tell your audience, hey, my hashtag is hashtag fedora and they’ll know to use that hashtag then. But when you are just starting and you’re just getting your marketing up, you want to use hashtag that are already being searched and already being used that way people can come to your profile and that’s when we’re, those impressions come in that we were talking about earlier, you get more impressions?

[00:20:19.49] spk_0:
Yeah, okay, okay, better to start with the, with the established,

[00:20:23.74] spk_1:
definitely. Yeah. So that you can get found. Yeah.

[00:20:28.24] spk_0:
All right, your l you’re always lead. Right, yep,

[00:21:37.74] spk_1:
yep. So that part in between the audience and the lead is super important. So it is the information that you give your audience that’s going to lead them on into your email list. It’s important to have an email list which a lot of non trump is either have an email list and they don’t use it or they don’t have an email this at all. I just feel like it’s not important, but you have to be actively building an email list because these are your particular raving fans that are going to continue to follow you even off of the social media platform, even though we know social social media is not going to disappear. Um you just want to make sure that you have your own particular people that you can consistently talk to, that you can consistently share with and so that between the a and the ill you want to have uh an opportunity to give them information in exchange for their email. Now, this can be a video, this can be a live event registration. This can be um, a pdf just giving them some really cool information about what you guys are doing or why it’s important to care about your mission. Like something of value that they can give you that valuable email because that email is going to help you down the line. That way, if you don’t, if they don’t see your post that day, at least they can check their emails now because they have you have them on the list

[00:21:48.84] spk_0:
I’ve seen or is that I think put up too much of a, of a barrier when they’re asking for that email and I’ll ask, you know, for maybe first name, last name. I’ve seen phone number.

[00:21:59.67] spk_3:
You know, this

[00:22:00.87] spk_0:
is all information. That’s very nice to have because you can write the first name and last name and phone number. You can probably research the person. But I think I think the, I think you’re losing more people because people don’t expect, you know, I don’t have to give up don’t give up my phone number and my address.

[00:22:15.72] spk_1:
Yeah. And you shouldn’t have to, you should get your white paper

[00:22:19.62] spk_0:
on on your work, you know,

[00:22:21.04] spk_1:
so Exactly. Exactly. Exactly. Asking for that type of information like your your email is very valuable to you anyway. Right. Because we don’t give our emails to everybody. We dont want spam, we don’t want people on our inbox. So when we decided to give our emails out, that’s already a big deal for us. And so it’s really important. Like you said to simplify that should just be a name and email. Nothing crazy and it should just be in exchange for whatever that value is really quickly. So we quickly get the information we need and then later on down the line if you need the name and address and all those other things, it’s because I registered for something, I registered for an event or I registered to come out and do something with you. But that’s later down the line and I know you

[00:22:59.94] spk_0:
like, like I’m happy to give email and first name.

[00:23:03.54] spk_1:
That’s perfect way

[00:23:14.94] spk_0:
this organization, you know, you can personalize my email you, my first name. You know, I might give up last name or I might just make up a last name but it gets beyond that when you get on

[00:23:16.96] spk_3:
that phone

[00:23:18.06] spk_0:
number, you

[00:23:29.64] spk_1:
know, I click away. It’s too much. It’s too much and you don’t even as a, you know, when you’re marketing, you don’t need that number. Most people don’t do calls like that anyway. I like I said ask for that down the line. If you know, you’re gonna need that. Um, you can ask for that during someone’s registration or something. But they’ve already expressed interest to you. They know you they’ve been following your content. They opened the emails, right? And so then, you know, okay, they’re comfortable with us. They can give us their phone number at that point.

[00:23:50.34] spk_0:
All right. Or if you want to do a text campaign, you can ask, you know, you want to opt in, you’ve been

[00:23:52.51] spk_1:
out of the option right on our email, do that the first one though, the first time you get them on there and don’t do that the first

[00:23:58.25] spk_0:
time it’s too much right.

[00:23:59.46] spk_1:
You would scare him off.

[00:24:01.66] spk_0:
They’ve been on the mailing list for a while and you know, we’re

[00:24:03.97] spk_1:
gonna that’s fine. That’s fine. You

[00:24:13.14] spk_0:
know what we’re gonna do a SmS campaign. So, you know, if you’d like to opt in, you know, here’s the place to give us your number or reply with or something. You know, exactly.

[00:24:18.56] spk_1:
You should always be simple as possible

[00:24:20.79] spk_0:
after you’ve already got some goodwill. I feel like

[00:24:55.74] spk_1:
Exactly. And since we’re talking about that tony we can talk about some of the metrics that you should look for in your email is especially like once you get them on their like, what do you do with them? And I know a lot of nonprofits get stuck there. So one of the things that you want to make for sure is that you’re consistent with your email. So don’t just take the email and they never hear from you ever again. Don’t make that mistake because oftentimes when we do that and let’s say event comes up three or four months down the line and we’re wondering why no one registered or nobody opened our emails. We have really low email rates. It’s because you’ve let them cold. Okay. So you want to be for sure that you consistently talking to your list and you’re consistently giving them information so you can still use the 80 20 rule. And I was telling you earlier,

[00:27:44.84] spk_0:
it’s time for a break, send in blue. It’s an all in one digital marketing platform with tools to build end end digital campaigns that look professional are affordable and keep you organized. They do digital campaign marketing. Most marketing software is designed for big companies and has that enterprise level price tag sending blue is priced for you, sending blue price for you, price for nonprofits, it’s an easy to use marketing platform walking you through the steps of building a campaign to try out, sending blue and get a free month. Hit the listener landing page at tony-dot-M.A.-slash-Pursuant in blue. It’s time for Tony’s take two planned giving in the pandemic era. That’s a webinar that I’ll be delivering graciously hosted by J. M. T. Consulting. It’s on Thursday September 30, 2:00 EST, naturally I’m gonna weave in my stand up comedy, keep this light and entertaining uh as well as informative, informative is important. We don’t miss the informative, but we’ll talk about it. But I will talk about what planned giving is, who your best prospects are, where you get started and how planned giving fits. In our pandemic era. You can go to J. M. T. Consulting dot com, click events and then click experts speaker series. They have a bunch of experts and me. But that’s how you make your reservation. JMT consulting dot com events and then expert speaker series. Or if you prefer, you could go to JMT consulting dot com slash events slash planned hyphen giving hyphen in hyphen the hyphen pandemic hyphen era hyphen with hyphen tony hyphen martignetti I I presume you could also just search JMT consulting tony-martignetti that might work also. But you choose your method, no judgments here is a judgment free zone. You choose how you want to make your reservation, it’s yours, it’s yours. I just hope you will. I hope you’ll be with me with me and jmT consulting thursday september 30th two o’clock eastern. That Is Tony’s take two. We’ve got boo koo but loads more time for turn followers into donors with adora drake

[00:28:34.04] spk_1:
and some of the main ways to get that really high open rate. It starts with the subject line. So the subject line should go straight to the point. It should be really quick and grab the intention of your reader and then once they click on that uh that email, the content should be helpful. It should be informative and it should quickly let them know. You know why they should keep reading. So that’s a little bit copyrighting their, uh, when you’re thinking about that. But if you have a newsletter, it’s a great place to put, you know, what are you guys coming up with? Why? Why should we care to be on your list? You know, especially when someone is a brand new person on the list. I like to create something that caught a welcome series. So I just kind of welcome them in. You know, introduce them. Let them know what the mission is, what we like to see in the future and things like that and kind of really get them into the organization and get them excited for being there. And as well as exchanging for some value. How

[00:28:44.27] spk_0:
long is that welcome series?

[00:28:46.44] spk_1:
It varies. Um, I usually have a minimum of seven emails. Um, and it’s just going to walk them through the entire first week that they’re on the list. And then after that you, you can go to just like once a week or something like that, but you want to make sure that you’re consistent at least once a week minimum,

[00:29:02.54] spk_0:
but initially you’re doing one a day, seven days. Yeah. People don’t object to that.

[00:29:25.74] spk_1:
No. And one of the things that I get asked all the time what they unsubscribe. Fedora if they unsubscribe, but you have to think of it this way. If they unsubscribe, then they’re not supposed to be there. Um, they’re not one of the people that are going to eventually donate to you. They’re not gonna want to follow. You know, you don’t saying so you’re kind of just losing deadweight. Kind of hate to say it that way, but it’s kind of dead weight and so you want to make sure that your, your list is lean. Um, they’re actually wanting to be there. They’re actually gonna open those emails because those are the people that are gonna donate or volunteer your time later down the line.

[00:29:40.52] spk_0:
That’s also going to help you with your email service provider.

[00:29:43.94] spk_1:
Yeah. Safety cost using uh,

[00:29:47.55] spk_0:
if you’re using mail chimp or constant contact or something. I mean if you have a huge list, but it’s un engaged. That that hurts, that hurts you. And they

[00:29:55.92] spk_1:
might, it does or

[00:29:58.28] spk_0:
your your email service provider or the recipients might end up might put you in spam even though the person asked for your email, but you have a big fat bloated un engaged list versus having to say you’re saying having a lien list it is engaged. That’s more likely to end up in an inbox than a junk box.

[00:30:16.22] spk_1:
Exactly. And that’s exactly what the goal is, especially when you’re creating an email list is to make sure that these people actually want to be there because these are your fans, you’re gonna go to later down the line when you do ask for donations. They already know you and they’re warm already. So these are warm leads

[00:30:30.24] spk_0:
and listeners, we’ve had guests on this. So you know, if you want to just search, go to tony-martignetti dot com and search email delivery ability, I’ve had shows on going into depth what a door and I’m talking about right now about the algorithms that companies you pay are using against. You have a big fat bloated and engaged list.

[00:30:52.99] spk_1:
So true. It does

[00:30:56.23] spk_0:
deliver ability. So you can hear shows specifically on that topic and how to avoid it. Um, we’re just touching on it now, but it is important your own companies that you’re paying could be hurting you.

[00:31:14.94] spk_1:
Yeah, I’ve also created a pdf just for you guys. If you guys want to learn the top five emails that I use on my email list of my clients list, you guys can go ahead and download that to uh, that’s gonna be in my website. Adora drake marketing dash non profit radio So you guys can go get

[00:31:24.97] spk_0:
that. All right. So, uh if this, if this podcast doesn’t return,

[00:31:30.72] spk_3:
you

[00:31:32.01] spk_0:
got some land, she’s got a landing page for us

[00:31:34.33] spk_1:
uh podcast. You guys are

[00:31:36.85] spk_0:
going to hear from the door drake again. This is gonna be the last time.

[00:31:39.34] spk_1:
Oh no,

[00:31:40.42] spk_3:
not Okay.

[00:31:41.73] spk_1:
No, I mean I hope not.

[00:31:42.99] spk_0:
But you set upon landing page you got metrics against us.

[00:31:45.70] spk_1:
Matrix. Matrix. Yes, that’s right.

[00:31:48.46] spk_0:
What did you say metrics what

[00:31:50.07] spk_1:
always have metrics. That’s right.

[00:31:51.73] spk_0:
Okay. Like you like the metrics maven. Okay.

[00:31:54.72] spk_1:
I like that. You know, I

[00:31:57.96] spk_0:
love alliteration. You can use Metro. Alright, so Adora drake marketing dot com. Hyphen dash dash dash hyphen non profit radio all one word. non profit

[00:32:10.67] spk_1:
All one Word. Yes. No spaces.

[00:32:12.74] spk_0:
Okay. And that’s where we’ll get your top five email. What subjects?

[00:32:26.74] spk_1:
It’s going to be a top five types of emails. So I’m going to tell you the types of emails that some of them was that series that we were talking about. I’ll tell you the types of emails that you can send out to your list. Keep them engaged but really to keep them engaged and wanting to donate at some point.

[00:32:30.79] spk_0:
Okay. Okay. And I just want to make something very, very clear. So when you’re welcoming someone to the list, they’ve they’ve taken your content, whatever it is, video or etcetera, whatever white paper etcetera. Uh, they’re new to your list. So you you send an email each day for the next week.

[00:32:49.04] spk_1:
Yeah. Now this is this is not hard as you guys think. It’s not me going on there every day typing up an email and this is something that you can set up an auto response. You can schedule this out. Right.

[00:33:01.43] spk_0:
I’m just making sure that you don’t find that? That’s too much in the beginning.

[00:33:33.04] spk_1:
No. And I don’t want you guys to be scared in thinking that even if you do something one a day that is too scary. I mean if anything it’s like having a conversation with a friend every day or talking to your mom every day. Right. She wouldn’t get tired of you. So why would someone who’s who’s following you and want to be a part of your mission? They wouldn’t get tired of you either. They just want to know more and more to And so the more you show up, it’s actually the opposite, the more you have people wanting to be there. So people who drop off, they were going to drop off at some point anyway because they weren’t really your target. And so I don’t want you guys worried about what they keep unsubscribing everyday. Well, that means you need to continue to keep growing your list with real people.

[00:33:48.94] spk_0:
Right. Right. Keeping that that lean but engaged list. Okay, Okay. And then your advice is at least once a week after that first week, minimum

[00:33:49.81] spk_1:
minimum, at least minimum. Yes. At

[00:33:52.68] spk_0:
least you said minimum. Yeah,

[00:33:53.90] spk_1:
Yeah, that’s fine. Yeah,

[00:33:56.67] spk_3:
I

[00:33:57.79] spk_1:
don’t know what I’m talking about. You got

[00:33:59.46] spk_3:
it at

[00:34:00.29] spk_0:
least minimum

[00:34:01.36] spk_3:
minimum

[00:34:02.86] spk_1:
minimum. Alright. You have it out. You gotta go in a

[00:34:06.95] spk_0:
minimum minimum of once a week after. Right, okay. Yeah. Because when you’re event comes up and nobody nobody RSVPs, it’s because you haven’t been keeping in touch the people forgot about, you know,

[00:34:19.77] spk_1:
seriously? We have our lives. Right. Right. Right. And you disembark as long as like who is this? And why did I even get on the list, you know, so don’t be gone too long. Make sure you stay in front of them, let them know what’s going on. And when you show up and they show you show up in their inbox, they’re going to know exactly who you are. You want to open it. So stay consistent

[00:34:40.34] spk_0:
and then you build that relationship up. Maybe you get their U. S. Mail address. Maybe you can you do a print annual report. Maybe you can send that to that. You wanted to send them a little swag. But take your time build a relationship over

[00:34:54.20] spk_1:
the relationship. You’re right, Tony. Alright. That’s the main key. Is that building a relationship piece,

[00:35:00.24] spk_0:
Right? Because we’re trying to turn them into donors for God’s sake.

[00:35:02.79] spk_1:
Yeah. We’re asking for money here.

[00:35:05.67] spk_3:
That’s the goal. So

[00:35:06.81] spk_0:
our volunteers could be, you know, it could be maybe committed

[00:35:09.46] spk_1:
the other time, which is really valuable. Right? Valuable. Also. Absolutely.

[00:35:12.91] spk_3:
All

[00:35:14.13] spk_0:
right. Go ahead with your E. For execution, please.

[00:35:47.44] spk_1:
So execution is the main part is when we’re asking for money. Okay, So we’re ready to get them from the list and we’re asking them to give us a certain amount of money um for our calls. And so all of these other elements that S C. A. And L. They all lead up to the execution and so how do you do this? You’re gonna want to make for sure again that you’re consistent with that email list and when you ask for the sale or you ask for the donation, they already have a relationship with you and you’re really clear on where can they go and donate? Um What’s the timeline? Do they need to get on a call with you and talk about this more? You’re really defining out, you know how can they go about giving their money? Um Do they need to you know have particular people there or whatever the at the C. T. A. Is you want to make sure that you’re really clear on this and that’s that execution execution piece.

[00:36:15.43] spk_0:
And how long would you say from someone first joining the list to to asking them to make their first gift? What what what time period should that be?

[00:37:26.33] spk_1:
Um this is gonna vary by by organization but if you’re looking at the analytics and you’re seeing that people are consistently opening things that consistently clicking on your newsletter and they’re coming to your website. That’s probably a clear sign that they’re really interested. Okay so if they’re more interested in you’re seeing a 40% open rate uh They’re clicking is about a 20% click rate then it might be you can probably asked earlier but if you’re seeing that they need a little bit more time and not quite opening up the emails um then you’re not quite getting a click like you want, you might want to space that add a little bit more. So I always advise minimum uh to keep giving 80% and only asked 20%. So if you’re giving for four weeks straight, just straight information maybe on the fifth week, you can ask, hey, would you like to donate to our calls here and this and that. So it’s just about giving and balancing out that making for sure that they’re comfortable with what you do. They kind of see where the money would go. And then once you’re ready down the line, you say, hey, we’re needed to raise money for this or your money would go towards this. Cause how would you like to donate? And this is the perfect time to get started before the holidays because this is the time that you can create all the content, right? You can get them really comfortable with you and let them know what your messages and messaging is. And then you just ask for a sales. So you have plenty of time between this time in december to start getting that going.

[00:37:38.33] spk_0:
Yeah, because we are right. We’re coming up on the fourth quarter of the very important fourth quarter. All right. So, so you’re looking for you, you think 40% open rate and 20% click rate. Those are those are good numbers.

[00:38:53.02] spk_1:
Yes. And so I was talking to someone earlier. She was like, well I don’t have a 40% open rate and that’s fine. The averages around 30-35% open rate. That 40 is just a really good engaged audience. So they’re actually opening it. And it’s probably because you have a really good subject line. Right? And so I like to say that if you can get around 40, that means you have a really engaged audience, they’re not cold. Um, and they’re warm. And so Anything below that between 30, 30 and 35, that’s average, but below 30 is kind of bad. So you might want to either clean up your list or you might need to, um, you know, change your subject and kind of see, so that’s that testing piece. And a lot of people, you know, don’t know that about market, but marketing is a huge area where you have to test and kind of see what works for you, what works for your organization. And so you want to test and see what kind of subject lines do my audience open? Are they opening them at all or where did they come from? What’s the information that I gave them exchange for the email? And am I consistently making content around that or have I changed up something that makes them not want to open the email? So these are all things that you want to look at when you’re building an email list because like we said earlier, you don’t want to have a big list of people who aren’t really engaged already. You have a list of like 100 people, but they’re really engaged. They’re gonna, they’re gonna, you know, give you those funds at the end of the day,

[00:39:05.42] spk_0:
when you say, clean up the list, you’re talking about dropping people off who are chronically un engaged, you know, they’re not not opening the not clicking.

[00:39:45.32] spk_1:
Yeah, exactly. It’s not gonna do you any good to have. It’s just literally vanity metrics at that point, before I clean up the list, I always just do you know a really quick check and say, hey, are you there? Or hey, would you like to continue to learn about X. Y. Z. If you get replies on those emails, you can keep those people on the list. The other people have not opened it or have not click anything. Those are used a clear sign that they’re not really, uh you know, people that you should probably keep on your list. And so before you clean them up, you can always just send out those quick little to emails that I just mentioned and kind of see, uh, you know, are you guys still wanted to be here? Or you can just drop those people who are not opening them,

[00:40:03.81] spk_0:
let’s make something clear. Just so there’s no listener that’s that’s got a question in their mind, uh the open rate that’s when someone opens, that’s opening your opening your email. Right? The open. That’s just that’s going from, you know, on your phone. That’s going from the little some little summary to tapping it to opening it up. And

[00:40:12.67] spk_1:
yeah, any time you open up email, that’s your open rate, your full

[00:40:15.45] spk_0:
message. Right? And then the click rate is just somebody clicks on anything in anything in the message.

[00:40:20.41] spk_1:
Usually you’re yeah, usually your newsletter, whatever link you have in there. So let’s say you have a link that leads back to your newsletter on your website or at least back to your blog or whatever is you have in there. It’s gonna catch that click and like you said, so that’s the click inside of the email,

[00:40:34.71] spk_0:
your call, your call to action

[00:40:36.40] spk_1:
called the action. Exactly.

[00:40:37.50] spk_0:
Someone. Okay. I just wanna make sure everybody understands the open right click.

[00:40:40.44] spk_1:
Ok. So those are the main two that you guys want to look at when you guys are running email marketing campaigns and those are the main things we look at. Two is how high those rates are because that tells me if my content is working or not.

[00:40:53.81] spk_0:
All right. So that’s the scale method. Um as I, as I thought might happen, I did think of a few things now require us to go

[00:41:02.81] spk_1:
back. That’s

[00:41:13.21] spk_0:
the lackluster host, like I said, that you’re stuck with going back to the, to the platforms, the social media. Yeah. Um let’s talk about ones that are no longer emerging, but they’re newer slack. WhatsApp Tick tock is their value there for nonprofits? Or does it does depend on who your, what your persona looks like as to whether you’re on one of the newer platforms.

[00:42:07.70] spk_1:
Yeah. So if, if you’re going to join one of those, you really do need to make sure that your audience is over there. So if you are targeting, you know, teenagers or younger people, then you might can look into something like a Tiktok, right? But if you’re targeting, you know, wealthier donors who are over 60, they probably won’t be over there as much. Not that they won’t be over there is that they won’t be over their majority. And so you want to look at a platform where they’ll be like facebook or linkedin. Right. And so it’s gonna, like you said, go back down to that persona. But you know, when you’re thinking about which platform, if you want to be on and what you want to target? Look at, you know, where would these people be? What is that demographics that we talked about and that’s going to help you decide which one is going to, you know, work best if that platform doesn’t work, you’ve just been using it for like two or three months and you’re not really seeing much change. Maybe you should try another platform. So it’s again, that testing and making for sure that you understand? Where is my audience before you give up.

[00:42:20.10] spk_0:
Are you seeing nonprofits on Tiktok? Do you have?

[00:42:23.18] spk_1:
Honestly, I have not, I haven’t, I have not. You know what? I have seen a few on. What’s the other new social media platform? It’s like an audio only kind of platform. I can’t think of it right now.

[00:42:36.17] spk_0:
Oh, I think I’ve heard of this to uh, yeah. All right.

[00:42:39.41] spk_1:
I don’t know. You know what I mean? Right. Yeah. It’s just audio only. I’ve heard some nonprofit starting to do those because it’s kind of like podcasts and so that might be a really cool option for people if if you have a really good viewership, you want to turn them into listeners and that might be an option for you.

[00:42:56.20] spk_0:
Okay. Okay, slack. Is that is their value in uh, nonprofits on slack.

[00:44:04.89] spk_1:
Yeah. So slack is usually used to communicate which you can communicate with, you know, your volunteer. So that’s more like an internal type of software. You can kind of get in there and engage with people in your organization. So we can talk about that a little bit too. Like how do you kind of keep people engaged in inside of the organization? So something like a slag or Asana that’s going to help you really track your projects. Right. So these are, these are gonna be helpful for making for sure that those projects move along, uh, through the pipeline. So, uh, let’s say you guys are having an event and you want to start marketing it four months ahead of time, That slack kind of platform will enable you to put each team member in there that you guys can communicate, upload um you know, marking materials, schedule out those emails and things like that inside of that slack platform, so that’s what that’s used for and other ones are like a sauna or teamwork and things like that. Those are all kind of work on that capacity. Also when it comes to social media, which I talked, we had mentioned earlier like you don’t want to be glued to your social media right? So there are there are Softwares that can actually help you schedule out your content so you won’t actually have to be there every day at five o’clock scheduling on your content. So these platforms are things like you know, sprout social hubspot um plan only that you can actually upload your content and ahead of time and then schedule things out so that you don’t actually have to be there. All you have to do is come in still for about 30 minutes to come in and engage and making sure you answer questions and comments and things like that. So there is some pieces of automation that you can use

[00:44:35.89] spk_0:
Dora, what was the third one you said hubspot? I know I know sprout social and what was

[00:44:40.05] spk_1:
the social and what is called plan early and that one, I used a lot for instagram, for scheduling on instagram. Post

[00:44:46.39] spk_0:
plan, could you spell it for us?

[00:44:48.29] spk_1:
It’s called plan early. So it’s P L A N O L Y.

[00:45:00.69] spk_0:
Okay, cool. Thank you. All right. No listeners to be able to find it. Okay. Um you know, you got a little Dallas texas accent, so I wanna make

[00:45:02.80] spk_3:
sure,

[00:45:04.29] spk_1:
I don’t know I had next sent to someone said it the other, we got like, really

[00:45:07.51] spk_3:
got

[00:45:37.49] spk_0:
a little one man, I’m from new york. Uh how obvious is that? Just a little So, you know, I just wanna get folks to be able to hear through it. You talk about the subject line. What about, you know, uh lots of folks um encourage listeners to use that, that subheading uh right below the subject, like that summary that you see on your phone, you know, you get like 100 50 characters below the subject line. That can be used creatively also to encourage people to open. Right?

[00:46:11.08] spk_1:
Yeah, definitely. Um it can definitely be used to, but but mainly it is going to be the subject line record. That’s that’s what’s gonna make me click it and then the actual content inside of your email is gonna be the most important, but if you want to add, let’s say I’m having a contest or something like that and I want to make sure that people understand, you know, what, what they can expect when they open the email, then I might add a little bit of context inside of that secondary subject line that you’re talking about. Um, it’s not the most important, but it is, you know, something that you can add a little bit of extra information if you don’t have enough information in your subject line. Okay.

[00:46:20.18] spk_0:
Uh, why don’t you uh, story it’s story time. Did you tell the story of uh, you know, some non profit uh, that you know, maybe not, you know, step by step to the scale method, but nowhere you saw, you saw things where things are moving, you start to get some traction, saw some success converted to focus the donors and tell us a good story.

[00:47:47.28] spk_1:
Yeah, so one of the non profits I just recently worked with, they were uh mid sized non profit in boston and what they focused on is helping disadvantaged minorities find jobs. Um, they also were involved with feeding uh, their local community and one of their major uh, academies that they were going to try to open up was just to help younger teenage students to come in and learn how to volunteer and learn how to get back to their community and be really good students. And so they were trying to push that act that academy and they didn’t know how to do that. So most of their marketing was still done the old school way. So they were getting out there, you know, going to these different uh, local churches, going to schools and things like that on foot and not necessarily, uh, utilizing social media, they have been around for about 15 years. So they did have an email list, but they weren’t really using it outside of, you know, just letting people know like tomorrow we’re gonna be doing an advantage at X, Y. C. And so when they brought me in, they were like, hey, how do we uh, you know, really build some interest online and so that we don’t necessarily have to rely on doing these old school methods all the time. And so one of the first things I took a look at was that s of the scale method, which is their social media, which is almost non existent. Um, they have maybe one account, but it wasn’t used for like four years. So

[00:48:00.23] spk_3:
that

[00:49:52.47] spk_1:
is non existent. Yeah, I was like, okay, what’s this? So we really have to start almost from scratch their built their, all of their platforms, uh, to the point where people were actually following, we could actually, you know, see the analytics of them leaving the platforms and clicking their websites. We did get people onto their email list and then I taught them, you know, kind of what I was discussing here. Like how do you nurture those people now that they’re on your email is like, don’t just leave them hanging or don’t just let them know the day before the event, Like, hey, it’s tomorrow because you probably won’t get as much engagement. So I taught them how to use content inside of their email lists and how to, you know, get people interested before these type of events happen or before you, they want that call to action to happen so that they can really start seeing well, okay with this organization is really cool because they really do help their community. Um, or one of the, it was funny because during my time with them, one of the main uh, directors, he had an emergency outside when they were feeding the hungry that was actually featured on the news. And so I was like, hey, this is perfect for social media just to show that you guys, you know, not only you guys out there on foot, but you guys, you know, care about your community even when an emergency happens, you’re going to step in and so that just makes it just makes you look good as a brand and you can share all these types of things with your audience because they care to know it right. And so I walked them through the whole process, like you said, trained their team how to do this. So if you have an organization and you are, you know, you’re wanting to be a little bit more hands off. I do have the opportunity for you to, you know, come into my programs and do that. But they use that program where I kind of came in, set up all of their automation. So they don’t have to be glued to things and they can really focus on the mission of the organization. And so when I left them, all of their team was trained. They have the automation is in place and so they’re on their way now to, to bring in a lot of money less than I checked with With them up there in Boston. They had brought in about 50,000 into that new academy that I was talking about. Um, and that’s gonna be really focused, like I said on on these students this year, on how to make them really good students and make them want to study, make them want to volunteer and things like that.

[00:50:07.36] spk_0:
Okay. And that $50,000 was largely from the relationships that got built

[00:50:55.36] spk_1:
relationships in ways that we just talked about. Exactly exactly, strictly relationships really because you know, once you get them on the list, you got, you know, warmed up. A lot of people are asking questions as I was running a lot of their socials at the time. So I got to see people ask questions about, you know, how can I get involved or what do you guys do or how long have you guys been around? And that is a really good way to, you know, meet prospective donors, you know, get him on the list and share that information. Uh, one of the directors there, she also had a radio show. So she would do things every morning. Uh, let’s say on on Wednesday at nine o’clock, she would, you know, give her information. And I said, when I first came in I was like, okay, you’re doing this radio show. But what if I’m not listening at nine o’clock Eastern time because I’m here in central time. Alright, Am I never gonna see the show? And she was like, well, I don’t, I don’t know what to do. So I taught her how to repurpose that content. So where she can share it on her social media, she can also share that on her email list and more people get to see, you know what they’re doing up there.

[00:51:13.66] spk_0:
Okay, that’s a great story.

[00:51:14.93] spk_3:
All

[00:51:16.16] spk_1:
right, we’re

[00:51:19.14] spk_0:
gonna leave it

[00:51:19.49] spk_3:
there Drake

[00:51:38.26] spk_0:
actually, Dordrecht, digital marketing strategist, coach and consultant, you’ll find her at Adora drake marketing dot com if you want to hit the listener landing pages she set up for us. It’s a test now. So Dora drake marketing dot com. Hyphen non profit radio No spaces,

[00:51:40.96] spk_1:
no spaces. Thank

[00:51:43.12] spk_0:
you very much. Terrific ideas. Thank you.

[00:51:45.46] spk_1:
Thank you guys. It was a pleasure being here.

[00:51:47.86] spk_0:
Our pleasure, my pleasure, my pleasure, well, our pleasure to listen, my pleasure to talk with

[00:51:52.61] spk_3:
you

[00:52:25.05] spk_0:
next week, effective fundraising that’s Warren Mcfarland’s new book and he’ll be with me if you missed any part of this week’s show? I Beseech you find it at tony-martignetti dot com. We’re sponsored by turn to communications pr and content for nonprofits. Your story is their mission turn hyphen two dot c o. And by sending Blue, the only all in one digital marketing platform empowering non profits to grow. tony-dot-M.A.-slash-Pursuant in Blue,

[00:53:01.55] spk_2:
our creative producer is Claire Meyerhoff shows social media is by Susan Chavez. Marc Solomon is our web guy and this music is by scott steiner. Thank you for that. Affirmation scotty you with me next week for nonprofit radio big non profit ideas for the Other 95%. Go out and be great. Mm hmm. Mhm. What

Nonprofit Radio for July 26, 2021: 12 New Donor Qs & Train Like A Champ

My Guest:

Andy Robinson: 12 New Donor Qs & Train Like A Champ

It’s been so long since Andy Robinson was a guest, we need to cover two topics together. First, a dozen potential questions to ask your donor who just said yes to a gift. Then, his advice to up your game as a trainer and facilitator.

 

 

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Board relations. Fundraising. Volunteer management. Prospect research. Legal compliance. Accounting. Finance. Investments. Donor relations. Public relations. Marketing. Technology. Social media.

Every nonprofit struggles with these issues. Big nonprofits hire experts. The other 95% listen to Tony Martignetti Nonprofit Radio. Trusted experts and leading thinkers join me each week to tackle the tough issues. If you have big dreams but a small budget, you have a home at Tony Martignetti Nonprofit Radio.
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[00:00:03.84] spk_2:
Hello and welcome to tony-martignetti non profit radio

[00:01:57.94] spk_1:
Big non profit ideas for the other 95%. I’m your aptly named host of your favorite abdominal podcast and uh oh I’m glad you’re with me. I’d be stricken with idiopathic thrombosis. radio Penick purpura if I didn’t know why you bled me with the idea that you missed this week’s show 12 new donor questions and train like a champ. It’s been so long since Andy Robinson was a guest. We need to cover two topics together. First a dozen potential questions to ask your donor who just said yes to a gift. Then his advice to up your game as a trainer and facilitator, tony state too podcast pleasantries were sponsored by turn to communications pr and content for nonprofits. Your story is their mission turn hyphen two dot c o. And by sending Blue the only all in one digital marketing platform empowering non profits to grow. tony-dot-M.A.-slash-Pursuant in blue. It’s my pleasure to welcome back Andy Robinson to nonprofit radio he provides training and consulting for nonprofits, businesses and government agencies. Over the past 25 years. He’s worked with clients in 47 states and Canada. He’s the author of six books including train your board and everyone else to raise money at train your board dot com. His latest book is what every board member needs to know do and avoid Andy is at Andy Robinson online dot com. Welcome back Andy,

[00:01:59.32] spk_0:
it’s great to be with you. Thank you for having me today,

[00:02:08.54] spk_1:
absolute pleasure. I just want to make sure that listeners understand you were on the show just a couple months ago, May Talking about boards and financial uh financial analysis and data. But that was a replay from 2012,

[00:02:16.81] spk_0:
right with my colleague Nancy Wasserman and she and I did a different book together about that topic.

[00:02:27.94] spk_1:
exactly. Uh and so it’s been since 2012 that you were on the show, so it’s time to catch up and do uh do these two topics together.

[00:02:32.54] spk_0:
I missed you. tony

[00:02:33.84] spk_1:
Oh, you’re terrific. Thank you. Up in Vermont, See see what a humane people we have up to Vermont. Yeah,

[00:02:41.76] spk_0:
I hope so. Um anyway, I’m pleased to be back. It’s an honor to talk with you. It’s an honor to be with your listeners and thank you for inviting me.

[00:03:00.24] spk_1:
My pleasure. Um Does it annoy vermonters that everybody who doesn’t live in new Hampshire, Vermont or maine confuses new Hampshire and Vermont?

[00:03:16.34] spk_0:
Um A few people get annoyed by that. Um The cultures of the two states are somewhat different and the politics of the two states are somewhat different, but they have a lot in common, and certainly there are many people who commute back and forth and have friends on both sides of the Connecticut river. And so I wouldn’t sweat it.

[00:03:21.64] spk_1:
You’re not. Is that is that the Connecticut river that divides

[00:03:23.86] spk_0:
it? Yes, it is.

[00:03:25.64] spk_1:
Yes. That’s

[00:03:25.90] spk_0:
the kind of the river you

[00:03:26.99] spk_1:
pick up geography on probably. So you’re not among the vermonters. That is upset by the

[00:03:50.54] spk_0:
I am not and I’ve been here about 20 years. So it is my adopted home. Um much as you, you know, are living in an adopted home. So am I? So I can’t even claim the title vermonter. Um I would like to, but the locals are a little, you know, Vermont or is someone who’s been here for multiple generations. I’m gonna

[00:03:51.34] spk_1:
be generation. Yeah,

[00:03:52.59] spk_0:
it’s a generational thing, but it’s all it’s all good. And I I love living here and I’m grateful every day to be here.

[00:04:23.74] spk_1:
Wonderful. Alright, so thank you for for letting those of us who make that mistake off the hook. No worries. It’s the same as the Kentucky Tennessee dilemma. All right. 12 questions. So we’re starting off with 12 questions that you might potentially ask a new donor. Someone who has just said just said yes to a gift and your first one is how would you like to make your payments?

[00:06:16.94] spk_0:
Yeah. Right. Um and you know, I mean it’s it can be awkward because it’s we’re having this deep conversation about why do you care about this work and how do you want to participate and what would feel significant to you? And and then we have to at some point get to the logistical question of are you writing me a check and by sending you an invoice? Are we doing the credit card, you making uh installment payments to fulfill this gift? And so yeah, I think that has to be one of the questions is how would you like to make payment? And a classic solution to this is to bring a pledge form with you. So when the donor says yes you pull out the form and it includes things like how do I spell your name and how do you prefer to be contacted with me? Um Do you like email? Do you like a personal phone call? Should I come and meet with you once or twice a year? Like how do you want to engage with us? And then also there’s the payment question like are you writing the check and by sending you an invoice we’re doing installments, all those sorts of things and you know I will do a little shout out to my colleague Harvey Mckinnon who I suspect has been on your show at some point and and Harvey is an international consultant. He and I did an article about this together that I think first appeared in the Grassroots fundraising journal Once upon a Time. So he’s he’s the co author of this content. Um, but I bring it up because he’s like the international guru of monthly giving, and he will never let the moment pass without saying, you know, would you consider making this a monthly payment model? So for folks who don’t know, this is the sustainer program model where people make automatic monthly payments on their credit card or directly from their bank. So that could be one of the questions are you a monthly donor? If not, would you like to be, is that a way to fulfill this commitment? So, yeah, how how do you want to pay? Is one of those questions? Yeah, sure.

[00:06:38.24] spk_1:
Well, right, because we don’t want to I don’t wanna be so excited by the by the yes that we we shake hands, we hug and then we rush out the door. You know thinking if I stay longer they might change their minds. And then we don’t get to the details of you know right, what what can we expect? I mean you gotta this is this is a business here and let’s acknowledge from you just got a commitment for someone to invest in your business. Yes. Was that investment going to come through?

[00:07:05.64] spk_0:
So we have to be to use the wrong word here. We have to be shameless about that. And at least you know we have to be forthright and say okay this is awesome. You have just made my day thank you for saying yes. I am so appreciative how do we do this? How do we transfer the money? I mean maybe it’s stock option, right? You know, I mean there’s a lot of ways that people can make payments, So yes, thank you for naming that Tony that is one of the 12 questions for sure.

[00:07:10.42] spk_1:
Of course. Well we’re gonna we’re gonna take them off.

[00:07:13.18] spk_0:
You have, do you have them in front of you?

[00:07:14.94] spk_1:
I have a list, yeah,

[00:07:16.11] spk_0:
yeah, great freedom to me.

[00:07:18.14] spk_1:
Look at this, the guy who wrote the article with Harvey, by the way, Harvey Makin has not been on the show, if you’re recommending,

[00:07:22.64] spk_0:
I will hook you up with Harvey because he’s very good storyteller and his thoughtful and entertaining and very smart.

[00:07:29.04] spk_1:
So the guy who co authored the article, you don’t have it in front of you,

[00:07:31.94] spk_0:
um you know, I I should have it in front of me,

[00:07:34.50] spk_1:
but I think you know, make you tick off as many as you can see

[00:07:37.46] spk_0:
why don’t I do that? Why don’t I try and why am I try and remember them and then you can feed me the ones I’ve forgotten

[00:07:43.52] spk_1:
what I already gave you one. So if you don’t get credit for that one.

[00:07:46.92] spk_0:
Yeah. Well you know what happened and this is full disclosure and you’re probably your audience doesn’t need to know this. But I pulled up the wrong slide deck this morning as my cue. Oh I thought we were talking about succession planning. Oh questions. Oh well let’s see if I can.

[00:08:00.16] spk_1:
I thought the host of this show was lackluster.

[00:08:03.43] spk_0:
Yeah. Well

[00:08:07.44] spk_1:
I’m rare that we have a guest who’s been less prepared than

[00:08:08.71] spk_0:
I will

[00:08:10.54] spk_1:
we will bring this together, put you on the spot giving you once you

[00:08:25.64] spk_0:
have given me one so you won’t get them in any particular order. But I’ll do this remembering and that’s fine. I’ll give you one of my favorite questions is will you give us a testimonial about why you give

[00:08:32.24] spk_1:
that counts? I’m checking that one off. Thank you about that one. Well we’re not we’re going to see how many you can remember through the, through the discussion. I think

[00:09:13.34] spk_0:
that’s fair. Why, Why I like that one is two things first of all and you know, tony You know this your longtime fundraiser, the most powerful fundraising is a peer to peer, right? It’s one donor talking to another donor and this is a way that you can get one donor to literally talk to another. This is why I made a commitment and you know, can I put it on the website? Can I put it in our printed materials? Is something I could share on social media? How can I use that? Um, Okay, a related question is, tell me more about why you make it you chose. Yes. Like, tell me a little more about, you know, you just made a big decision. I’m I’m moved. I’m pleased to say more about this commitment. Why is this meaningful to you?

[00:09:57.44] spk_1:
What is it about our work? That’s right. And, you know, that some of these may be subsumed in your ongoing conversation about the gift. I mean, you know, so, as you’re talking, that’s fair, as you’re talking about books about making a gift, you know, it’s not it’s very rarely in my experience, a one shot, you know, you ask, and then they say yes or no. I’ll think about it there use conversations. So, you might very well, first of all, you might already have known what they love from their previous giving. But through your conversations about this particular gift, you might find that out if you didn’t already know. So you might not have to ask afterwards right already.

[00:10:12.54] spk_0:
I think a good discovery conversation with donors leading up to the ask is going to reveal at least some of these questions and answers. I think that’s fair and not everybody is that thorough or thoughtful in their cultivation and their discovery with donors. And so if you don’t have a clear answer to that question, you want to know that

[00:10:56.74] spk_1:
it’s time for a break. Turn to communications, The chronicle of philanthropy, The new york Times, The Wall Street Journal, UsA Today stanford Social Innovation Review, the Washington post, the Hill Cranes, nonprofit quarterly Forbes Market Watch. That’s where two and two clients have gotten exposure. You want exposure in outlets like those. Turn to has the relationships to make it happen for you turn hyphen two dot c o. Your story is their mission. Now let’s go back to 12 new donor questions and train like a champ.

[00:11:54.24] spk_0:
This also relates to one I already mentioned. Which is what are your communications preferences? Like how should I stay in touch with you? Should I send you email? Should I send you a newsletter? Do you like the occasional phone calls? Should I take you to lunch? Um, how often? And you know, a related one. This is a little awkward and I would save this for the end, but I’m bringing it up now is what’s your given calendar? Like how often may I ask you And the, the assumption we have with major donors And I’m putting air quotes here for folks who are listening. The assumption we have is that they are once a year donors, you know, typically at the end of the year and we do the cultivation and we try to close the gift at the end of the year. And I just want to say that everybody is different. And you know, here’s an old quote which is if you know one donor, you know one donor and there’s this strong tendency to sort of extrapolate to everybody. All donors behave like this. And it’s not true.

[00:12:02.20] spk_1:
So

[00:13:10.64] spk_0:
the way I might frame this is I might say to somebody, what’s your given calendar? Are you typically a once a year kind of person or if I have a special need or an emergency? Can I come to you additionally, how does that work for you? How do you think about your giving in that way? Um, another question, especially if you’re dealing with older donors, um, for those who can’t see us tony and I both have a lot of gray this call today. Yeah, that’s all right. No, no shame in that. Anyway. If you’re if you’re dealing with older donors, one of the questions I would ask is, um, does your family know about this? And the next time that I come back to talk with you, can we have some of your kids or heirs or family members in the room so we can all discuss together why this work is meaningful to you? Because I don’t want just one donor. I want generations of donors, Right? And if dad is in for mom is in front of the kids saying this is important to me. Here’s why. And we’re trying to add to our donor list and also continue this donation after that donor has passed on, then it’s good for the family members to know why this is a priority for the person who’s making the gift

[00:13:15.70] spk_1:
interesting. That’s an interesting one. You’re sort of leading into a plan giving discussion.

[00:13:19.98] spk_0:
We are

[00:13:27.74] spk_1:
and the interesting, yeah. Trying to get the parents to engage their next generation. Their

[00:13:50.04] spk_0:
kids share their philanthropic priorities with their Children, you know, and if you have, if somebody has a family foundation and the kids are on the board, I mean this is already happening, but most donors don’t. Right. Um, so I I yeah, that, I mean that’s one that sort of surprises people because a lot of people don’t think of that one, right? It’s like, who else? Um, another

[00:13:51.15] spk_1:
Live by the way, you’re at five out of 11 so

[00:13:53.10] spk_0:
far. I’m rocking and rolling here. Um,

[00:13:55.15] spk_1:
you’re you’re in a street f so far, but there’s still time, there’s still time.

[00:13:58.83] spk_0:
Doctor tony cut me some slack here early in the

[00:14:02.29] spk_1:
co author of this thing. I’m okay if I get harvey mckinnon on the show and you can’t name more than five or six of these,

[00:14:09.94] spk_0:
I’m just getting warmed all

[00:14:10.36] spk_1:
you out when I when I when I have them on.

[00:15:32.74] spk_0:
Okay, so here we go. Another one is will you come to our board and talk to our board about why you give and you know, we’re gonna talk about board training in a few minutes. That’s, you know, our second topic this morning. But um, I do a lot of work helping board members embrace fundraising. It is like the number one piece of my work for years and years and years and part of the barriers. People have this idea that donors are a different species or they come from a different planet and like, I don’t know any donors. I’m the one who gives money all this, all this stuff. Right. We’ve all heard at any of us who are consultants who work with boards have heard these tropes all the time. And I think it’s sort of fun to pull together a donor panel of three or four of your most loyal donors and they don’t have to be the wealthiest donors. I mean, maybe it’s, you know, the classic little old lady who’s been giving $50 a year for 20 years and you invite three or four of them to a board meeting. You say the 1st 20 minutes of board meeting, we’re just going to do Q and A. And we’re going to hear from some people who love us and give us money and have them talk about why they support our work. And this is transformational for board members because they realize they love us, right? We do good work, people care. They want to be part of this, right? So will you come and share with our board why you give and why this is meaningful to you? Um,

[00:15:57.24] spk_1:
so I can see how that enormously uh, eye opening for, for board members who, who get mired in the financials. You know, as we talked about when you wrote your book, the boards understanding the basics of financial, they get mired in the financials and the and the employment practices and the non disclosure and uh, and conflict of interest policy. And they forget that were, you know, this, this wide M. C. A. Does great work in the community. You know, we’re more than just a pool and a fitness center, you know, and, and let’s hear and we hear

[00:16:18.04] spk_0:
from more than just a spreadsheet and aboard media. Right? So I mean, here’s a shout out to someone you may have had on on In the last 550 radio sessions. This case Sprinkle Grace, um, in case another well known great consultant,

[00:16:21.11] spk_1:
k

[00:16:55.34] spk_0:
sprinkled Grace, who’s in san Francisco Grace. Um, you know, and Kay has said, and I don’t know if she was the first, but she said every board meeting needs to include what she calls a mission moment, which is when board members are connecting with their hearts and why they’re in the game and why they care about the work as opposed to the spreadsheets and the policies and the agendas. And you know, this is a classic mission moment is if you have donors sitting with you saying this is why I care about your work. And this is why it connects with me emotionally. Then the board members are connecting emotionally with the work. Um, so I would put that on my list of 12.

[00:16:59.03] spk_1:
It is already there another not expanding the list. You’re not very good. You don’t, you don’t hurt your own cause you don’t want to increase the denominator. You want, you

[00:17:09.52] spk_0:
can take the new yorker out of new york, but you can’t take new york out of the new

[00:17:16.94] spk_1:
yorker. You can’t take the new york out of tony No, I’m keeping track. It’s good. I don’t want you to think that I’m just

[00:17:19.59] spk_0:
trying to distract

[00:17:20.64] spk_1:
you from the purpose of here’s the next one by amplifying somebody here.

[00:18:12.54] spk_0:
Here’s the classic one that we don’t do enough because we don’t have the courage, which is, will you introduce us to other potential donors, Right. Is there anybody else that you know that might care about this work? And you know, again, I don’t think that’s the first question out of your mouth, but if you have someone who’s enthusiastic and they’re like, I love this group is like, who do you know? Um, how can you help us? And you know, will you make an introduction? Would you consider hosting a house party? Right. Um, if we have an event which you come and speak at the event, like finding ways to involve them. Um, another question, and this is probably towards the end of the list is you’re so committed, you’re so passionate. Would you help us raise money? Are you a potential volunteer in our fundraising pool? Um, and let’s talk about the volunteer tasks that are available. And could you be one of those people?

[00:18:18.04] spk_1:
Yeah, I like, I like that one a lot.

[00:18:19.97] spk_0:
Yeah. And again, it’s not gonna be everybody. Some folks are like, no, I mean, I’ll give you money. I don’t want to, I don’t want to participate in that way. But other people like, sure. What do you need?

[00:18:28.12] spk_1:
Could you help us?

[00:18:29.17] spk_0:
Could you help us?

[00:18:30.91] spk_1:
What you’ve just done exactly. Um, um, out of 11 by the way.

[00:18:35.64] spk_0:
Thank you. I think we’re there 11 or where they’re 12.

[00:18:38.54] spk_1:
Well, there were 12, but you’re not getting credit for the first one because I gave it to you

[00:18:50.14] spk_0:
sure enough. Um, the domino a new question that’s not on the list, but harvey has thought about is how has covid changed your thinking about giving?

[00:18:54.74] spk_1:
Okay.

[00:19:26.14] spk_0:
And I don’t know if that’s an after before question. Um, but you know where he was going with it. Is is it going to be harder to get donor meetings and how are people feeling about having face to face conversations? And you know, sometimes we’re doing these on zoom now, which I’m fine with. Sometimes we’re meeting with donors. Um Sometimes we’re doing it on the phone. That’s never that’s not new. Um But even just figuring out the meeting protocols and how people are feeling about that I think is an interesting bonus question. Um Alright, feed me one because I think that’s what I got so far.

[00:19:39.64] spk_1:
All right. So now you expanded the denominator by adding the COVID question. So that increased your denominator to 12. Yeah, that’s cool. You got 234 Got nine out of 12 which is about 75% right, 75 is about a C. I’ll give you a C. Plus because you have a good smile and you live in new Hampshire.

[00:19:51.13] spk_0:
I don’t I live in Vermont but whatever.

[00:19:54.94] spk_1:
That’s right. Whatever. Whatever. Um Okay. Straight C plus.

[00:19:59.06] spk_0:
Uh geography test. Let’s see if I’m, if I’m not going to pass the test of, would you like to honor questions? Give me another one, tony like to

[00:20:06.97] spk_1:
honor or someone who is in memory or someone

[00:22:03.94] spk_0:
thank you. So again, this is, this is sort of fundraising. 101 is that sometimes people like the opportunity to use their gift to honor someone they love, who may be alive, who may have passed away, um, or maybe even honor somebody who’s in the organization. I’ve had donors say, you know, I wanted to do this, but I want to do it in honor of the staff because I see how the hard the staff works and you know, they are the heart and soul of the organization. So yeah, I mean, I could honor my grandma, may she rest in peace, but I think I want to honor the employees because they’re kicking. But um, so I have, um, I chaired a capital campaign several years ago and we had the whole conversation about naming opportunities and how to price naming opportunities and all that. But one of the things we decided as if people wanted to do naming opportunities and have little plaques on the walls, they could name it after themselves, like named after a relative or a friend, but they could also name it after a value or a concept they really loved. So we had people who used the naming opportunities to write things like justice and dignity for everyone. And instead of their name, we had a little plaque, you know, for the bookcase that they bought that said justice and dignity for everyone or lifelong learning or you know, things like that. And so the naming opportunity was not just a name. Sometimes it was a value set or a concept. Um, and that made it more palatable for the folks who thought people with more money shouldn’t get to put their names on stuff because that’s inequitable. And you know, I have some, I have some feeling for that, right? I, I appreciate that point of view. I’m also a fairly practical fundraiser, but it was sort of nice said people were given the option of actually naming some value that was important to them. And um, so yes, would you like to honor somebody or something with your gift,

[00:22:10.04] spk_1:
some

[00:22:10.92] spk_0:
value or some idea or some concept? Um, and I thought that was a nice, nice pivot on that particular question.

[00:24:13.44] spk_1:
It’s time for Tony’s take two, the podcast pleasantries. You know, I’m grateful. I hope, you know, you should know you certainly better. No, you better finger wag. You better know that. I’m grateful that you listen to nonprofit radio Week after week notice. I don’t say week after week after week it’s not a laborious chore. It’s a pleasure. I hope you’re learning. I hope there’s some entertainment value as well. I’m grateful. Whatever it is you get out of nonprofit radio I’m glad. I’m grateful that you’re with us. I’m glad it’s helping you in your own career, helping your non profit That’s why I do the show pleasantries to you. Our podcast listeners. Thank you for being with me. That is Tony’s take two Now back to 12 new donor questions and train like a champ and then I have switched to a different device because my internet dropped out. That happens when you live at the beach. Sometimes it’s windy or who knows. Uh, so sound is not gonna be as good now because I’m on my phone instead of with my fancy Yeti make, which only connects to my laptop. So Andy’s sound will be the same. Mind is not as good, but we persevered non profit radio perseveres. We’ve had lights turned off. We’ve had, we’ve been at nonprofit technology conference and had taken down taking down around uh, 5 30 when the union was going by with forklifts and taking down displays. It doesn’t matter. We persevered. So the point we were at was just saying that whether you want to do your gift in honor her memory flows very nicely into how would you as the donor like to be recognised?

[00:25:05.34] spk_0:
Yes. So there are people who like their names public and there are some people who prefer to be anonymous. Um, and so we, this is an ongoing debate in the industry is do we publish donor names or not? And I’m in favour of publishing and I think it’s a good thing, but obviously you have to get people’s permission. So I think the key question is may we recognize you publicly or would you prefer to be anonymous? And you know, this implies you have that that tracking form or that pledge form that I was talking about. And you have that you can go through that with the donor and and check that off and then presumably you have a database and you can then honor that request by either recognizing them or making them anonymous. Now a key question we have forgotten, but now I’m remembering is, um, how do you want us to use this gift?

[00:25:07.97] spk_1:
Uh, he gets another one.

[00:26:49.34] spk_0:
Yes. And you know, the point here is that we want all the unrestricted dollars we can get. The best gift you can get from donors, unrestricted general operating use it however you see fit. And there are certainly donors at times who want to restrict their gifts to specific programs or initiatives that you’re doing. Certainly this is true if you’re doing capital fundraising campaign. Um, the tendency I fear is that the solicitor tends to pitch the restricted gift when it’s not necessary to do so. And you know, there are some folks who say, well, you know, most donors would rather know where their money is going. And and my response is I think a lot for a lot of solicitors for a lot of asters, they feel more comfort in asking for a restricted gift. And that’s about our needs as the, as the Askar. And it’s not necessarily about the donors needs. So we have to get better at framing our work and say when you give us the, whatever the amount is, 1000, 5000, 10,000, 50,000. Whatever it supports the whole range of our programs, it supports everything we do in the community. It supports a healthy workplace for our employees. It supports the community members and family members. We support. It helps us build long term sustainability so we can do this work for years. So the best gift you can give us is the unrestricted gift that supports the whole spread of what? And I feel as as Askar as solicitors, we have to get better at pitching that. I think that’s about us. I don’t think it’s about the donor. So that’s one more question. Um, are there any

[00:26:57.44] spk_1:
other, you know, there are, I’m not going to make you agonize over whether or anymore. No. You’ve named you named all the ones that, that I

[00:26:59.57] spk_0:
didn’t get them all.

[00:27:11.24] spk_1:
And then you added one the covid question. So that gives you a 10, 12 Or reduced that to 5/6. And I would say that’s a solid B A beat. You got to

[00:27:12.14] spk_0:
take a B today. I will take I’ll take a B plus.

[00:27:18.74] spk_1:
Well you’re getting a big, you’re getting a beat. So All right. So,

[00:29:07.24] spk_0:
I mean, I want to I want to wrap this part of the conference tony Let me wrap the part of this conversation with a quick little summary here. Um, and then we’ll move to the second half. Um, the stress that we have as Nascar’s I think is around closing the gift, getting the yes. And I feel like there’s a tendency to think if you get that. Yes, you’re like, my work is done. People try to check out or they relax or they stop engaging at the beginning of the relationship. That’s not the end, That’s not the end point, that’s not the victory. Um The whole point is to then ask, how do I keep this donor? How do I make this donor commit even more deeply? How do I find a way to serve them so that they’ll want to give again? And so I feel like the yes is the beginning, it’s not the end. And to me that’s sort of the summation of this whole thing when we get that. Yes. Where do we then go to strengthen and deepen the relationship? And you know, there’s a I can send this to people, we can find a way. But I mean I would turn these into a checklist and I bring them with you. I think it’s okay Um to have a clipboard in front of you when you’re talking to a donor and take notes and you can ask permission to say may I take notes while we’re talking. So I remember stuff because I don’t forget stuff. And is that okay? And I think most people are cool with that but you don’t have to remember these 12 questions. You can bring a cheat sheet with you and you can or you can treat it as a as a form that you fill out when you’re talking with the donor so that you can remember these things and get them into the database. So don’t feel like you have to remember all this stuff. It’s not your job. I think your job is to facilitate the conversation and carry the notes with you if you need them. Yes.

[00:30:24.54] spk_1:
Very sound. Oh I agree. Nobody has a problem with you taking some notes. Um Yeah no I mean you want to preserve this information and and as you said, can convey it back to your to your database for sure. And I like that. Part of the way you, uh, ask how can we be of service to you is by asking for them, asking not require requiring asking for them to be of service to the organization. Would you provide a testimonial? Would you come meet our board, Would you help us with your fundraisers with our fundraising? No, that’s that’s that serves both parties. The benefit to the to the organization of course is greater engagement. Now, now the person isn’t just a donor or investor. There are, there are fundraiser along with you potentially if they agree to that side by side, but we’ll come to a board meeting. There’ll be a V. I. P. Speaker at a board meeting, potentially if they’re willing to do that part. All engagement. That’s all. This was all in service to both the donor by getting them involved in a cause that they already love and service to the non profit as well.

[00:31:37.04] spk_0:
You know, there’s a lot of data on the psychology of giving and why people give and what motivates donors to given all of that. And one of the top reasons is people want to feel connected to something larger than themselves. They want to feel connected to causes or social change or programs that are meaningful to them. Or maybe it reflects on their own experience, um, you know, in need, they had early in their life that the organization or appear organization helped to take care of for them. And so we’re giving them opportunities to more deeply connect with the community that’s creating this change. Um, so it’s an honor. I mean we feel like, you know, we feel like asking people to give as a burden. I think that’s totally backwards. Giving is an honor. It’s a privilege to give and I frankly think it’s a privilege to ask and, and then I think it’s a privilege to be in relationship with the people who give so that you can then deepen that relationship and strengthen their work. So, um we have to be proud, we have to be proud fundraisers. We have to embrace the fact that this is necessary and beautiful and holy work and not treated as a chore but treated as a chance to really improve our communities and deepen relationships and all of that.

[00:32:40.54] spk_1:
It’s time for a break, send in Blue. It’s an all in one digital marketing platform with tools to build end to end digital campaigns that look professional are affordable and keep you organized. They do digital campaign marketing, that’s what we’re talking about. Most marketing software for big companies designed for them, has an enterprise level price tag, sending blue is priced for nonprofits. You heard the Ceo Stefan say this all last last week more articulately than than your lackluster host does. It’s an easy to use marketing platform that walks you through the steps of building a campaign. You want to try out sending blue and get a free month. Go to the listener landing page at tony-dot-M.A.-slash-Pursuant in blue. We’ve got boo koo but loads more time for the second half of 12 new donor questions and train like a champ.

[00:32:43.84] spk_0:
Um, I think that’s the 12 questions. What else were we talking about today? Tony

[00:32:50.74] spk_1:
Such a such an unprepared guests I haven’t seen and I can’t, I can’t name have I think we’re

[00:32:54.72] spk_0:
talking about training, we’re talking about, we’re talking about training

[00:33:39.64] spk_1:
boards. It maybe 551 shows that since I’ve seen this, this unprepared we’re talking about we’re talking about upping your game and training and facilitating and let’s not limited to board training and facilitating you. Might be might be training your fellow, your fellow staff. Uh, maybe you’re a, uh, maybe you’re a consultant who does training and like the up the game a bit in training facilitating. So, or maybe it’s maybe it’s board work. So, the one of your, one of your articles that I want to start with is the one about, Uh, not over stuffing your agenda. You feel like people try to pack too much into an hour or 90 minutes or a half a day or a full day. So, uh, do you have any idea what that article is about that you

[00:33:42.44] spk_0:
wrote? I’m a Volunteer Today. Friends. I’m here and I’m being abused by the host just for the record. I’m doing this is but

[00:33:54.24] spk_1:
but even volunteers, we have expectations. Even volunteers don’t just walking

[00:34:05.34] spk_0:
by. I am tony I am crushing this. Let’s acknowledge this. I’m doing great today. Anyway. two per your question. Um, we have to start by thinking a little bit about how people learn,

[00:34:09.84] spk_1:
how people learn and what your goal is. Yeah.

[00:36:26.93] spk_0:
And so, you know, there’s there’s a lot of learning theories and I won’t get too geeky with folks, but there’s a learning theory that I that I think is intuitive and people understand is that we all have different learning styles and there’s an acronym V A R K bark that represents this so obvious visual, Right? Some people learn stuff visually. They look at images. They look at video. I mean, that’s their that’s their learning style. Some people are auditory a they like to talk, they like to listen, right? That’s the way. And certainly people who tune into a podcast or radio show like this are probably leaning toward auditory learning as their preferred learning method. We have, we have there are, which is the reading and writing. People who read stuff. People who, right, there are a lot of folks. When I do a workshop, the folks are taking notes and I said, do you ever look at the notes and they say, and I don’t often look at the notes, but the process of writing it down helps the landed in my brain. So I remember it. So those are those are and the k is the kinesthetic people who learned by physically doing things, by manipulating things by handling stuff. So part of my challenge as a trainer and I’ll get to the overstuffed piece in the second here is I want to create learning experience that serves all those kinds of learners. And so if you are standing at the front of the room and you’re showing slides to people and you’re talking at them, and that’s all you’re doing as a trainer, You’re missing half the room, because that’s not their learning style, that’s not how they engage stuff. And so the hard work and the interesting work as a trainer, and I would say, as a facilitator to is to is to design it in a way that it serves a variety of learning styles and learning needs. And when I see an overstuffed agenda, what that looks like to me is somebody has a whole lot of content that they feel like they have to share in the way that they’re going to teach people is by shoving all this into their face as fast as they can, and the theory that if you give them more, they’re going to absorb more, and I just don’t think that works. So going back to what you said, hey, you got to start with your goals, like what am I trying to accomplish in this particular training? What do I want people to master right

[00:36:30.13] spk_1:
now? Okay, yeah,

[00:36:32.43] spk_0:
then once you’ve got that, then the question is, how do we design something that’s accessible to a variety of

[00:37:04.63] spk_1:
learners? Before we, before we continue, I have to uh, add a couple of things, uh, listeners are going to admonish me if I don’t thank you for identifying of arc, because not probably radio we have drug in jail. So if you hadn’t methodically explained each element of bark, then it would have been a serious transgressor and you would have been uh, promptly escorted to jargon, jail free

[00:37:09.83] spk_0:
at last free at last. Yes, you are almighty, I’m free at last.

[00:37:29.23] spk_1:
You are. Um, and I recently had a guest, uh, Laurie listeners remember Laurie Krauss talking about public speaking, the research shows that people retain something like, uh, oh, something like a very small percentage. I don’t know, 2% or 10%. It’s like,

[00:37:31.00] spk_0:
Yeah, I know this data. Yeah. They will they retain 10% of what you say, but they’ll retain 90% of what they do

[00:37:38.63] spk_1:
what they’re doing there. There’s your K. There’s, you can see that, that’s

[00:41:33.41] spk_0:
the K and but it’s also the reading and the talking and the small groups. Okay, so let me make this simple for people, if I’m doing a half day training, you know, like, I’m doing a fundraising training or board development, whatever it could be an hour, and it doesn’t really matter. But let’s say I’ve got you for a morning, the way the way I designed this, and it’s another shout out to our colleague Andrea Kill Stead, who she and I did a book together called train your board and everyone else to raise money. And we spent a lot of time talking through this. Um, hey, I’m going to give you some content. Now, the chunk of content I give you is not going to exceed 15 or 20 minutes. It’s a short piece of, here’s some information you need having, given you that content. I’m then going to launch an exercise or an activity where you work with that content. So maybe there’s some small groups or maybe there’s a writing exercise or maybe it’s a role play. I mean, every fundraising trainer in the world has done role plays where people practice a pitch or practice listening or whatever, right? And then after the exercises over there is going to be some time to debrief and, and think about like what did you just learn? What will you take away from that exercise? And for me it’s always that pattern. Here’s some content now, you’re going to work with the content now, you’re going to reflect on what you learned and how you might use it. And if you had me as your trainer or facilitator for a half a day workshop, you would see this pattern repeated six or seven times in three hours. Um I’m gonna give you some stuff and I’m not going to stand there and talk to you for 60 minutes. I’m not gonna do that. Here’s a chunk of info work with the info. What did you learn? And if you retain nothing else from this part of my conversation with Tony, this is what I want you to retain. Is that pattern repeats itself. And if you can vary up the design of the exercises like okay here’s a writing exercise and the next one is a small group discussion and the next one might be a sequencing exercise where you like I’ve done, I’ve done a class where um we do, we organize a 12 week major gifts campaign um like how to do a speed major gifts campaign. And I will create like post it notes or cards that you put up on the wall. That’s a week one, week two, week three, week four. And then I create cards with a bunch of the activities like call donors, set up appointments, build a gift pyramid, all of those things and I put them all out on the table and I have people try and sequence them and they’re doing in a small group. So what are we doing? Week one, what are we doing? So it’s a classic farc via RK activity because there’s the visual piece, there’s the auditory piece of talking with each other and figuring out where we sequence stuff. There’s the reading and writing piece because you’re reading them, I’ll also give them some blank cards in case I’ve forgotten a step they want to add and I’ll give them a market so they can actually write additional steps. And then there’s the kinesthetic piece of physically manipulating these cards and putting them on a calendar. Um, So that might be, you know, 20 minutes and break out to do that exercise. And then we come back and I said like, what did you learn? Yeah. You know, and what tends to happen in that particular exercises, everybody wants to front load everything and so weeks one and two or look like this, my hand is like wide on the wall and when you get to week 12, there’s nothing, it’s like, okay, maybe you need to spread this out so you don’t kill yourself at the beginning of the campaign and think about a way to sequence it, that’s more humane. Um so I I say the word trainer and that’s intimidating to people because like I’m not a trainer, it’s not what I do, and there’s a tendency to want to hire people like me to come and do it, which is great, you know, I appreciate the work, but I feel like the basic skill set, anybody can learn, you don’t have to have a lot of formal training to be an effective teacher. Um more training helps, More practice helps. But if you sort of master the basics and you do some of the stuff we’re talking about, um, you’ll be good enough.

[00:41:41.91] spk_1:
Let’s talk about, let’s talk about chunking out your time. Yes. How much of that chunking out to share with the participants versus just keeping it to yourself?

[00:43:43.60] spk_0:
Okay. It’s a nice sophisticated question and I’ll give you a two part answer. Part one is that I tend to underestimate the amount of time it takes to do whatever I’m doing. This is true in consulting. This is true in cleaning my house. Um, this is just true in training or cutting the grass or whatever, right? It always takes longer than I think. So my skill set in that area needs improvement even at this advanced stage. Um, Having said that, I have done both times agendas and untimed agendas and what I tend to do if it’s new content and I’m figuring it out is I’ll do a trainer agenda, which is just for me where I’ll show what the times are, but that’s not the agenda I necessarily share with the group because I don’t want them looking at the clock and going, oh my God, we’re late. He’s running behind. Right? So you know, from, for many of the public events, I do, I give out an untimed agenda. I will show times for the brakes and I’ll show times for the start and end, but I won’t time out each section of the agenda. Having said that I’m chairing aboard now and when I do board meetings, I definitely have a timed agenda and I have a very ornate agenda and I’ll just do this from memory and you know, people can use this or not. This is a seven column agenda. The first columnist time like when something is going to start, um the second columnist topic, what are we gonna talk about? Um The third column is who is going to lead that and it ain’t always me. So I’m trying to find other people to share leading portions of the agenda. The fourth column, my favorite column is the decision we need to make around this particular item and I have a bias here and my biases. If you put together an entire agenda for a meeting and there’s no decisions that you’re making and it’s just reporting, you should think real hard about canceling the meeting because there’s so many other ways to share information now we don’t have to physically gather people just to do reports.

[00:43:52.00] spk_1:
Um,

[00:43:57.90] spk_0:
Column # five is follow up needed and you don’t always know that in advance. You might have to figure that out at the meeting.

[00:44:03.75] spk_1:
6es follow up needed.

[00:44:57.09] spk_0:
No, number four is decision of five. Forest decision five is I’m doing this from memory, tony should be very impressed with me. Um For his decision five is the follow up needed. Column number six is, who’s going to do that? Follow up In column # seven. And what’s the deadline by? When is that follow up going to occur? So what the way this works is you fill out some of it in advance, but some of it you don’t know until the meeting when you start figuring out like, okay, what’s our follow up, who’s going to do it? And so you actually use the agenda to build a work plan coming out of the meeting, who’s gonna do stuff and it it sort of creates the guts of the next meeting agenda, which is then about did we follow up? What was the outcome, What subsequent steps do we have to take? Who was going to do those steps? So, you know, I wouldn’t necessarily use that in the training. That’s more of a meeting agenda. We’re trying to get stuff done. And you know,

[00:45:16.89] spk_1:
let me ask you about your meeting agendas, us board chair, you’re saying you do share the timed agenda with everyone. I do. Everybody knows how much time is allocated to each subject? You maybe each row on the Yes, Okay. Everyone knows that.

[00:45:38.99] spk_0:
Yeah. And I put that out in advance. I’ll send that out a couple of days before the meeting. I mean I got a board meeting next Tuesday. I just, this is, this is too granular, but I just sent a notice to all the board members saying, here’s my, here’s like the four or five things I want to talk about. What am I forgetting? Are there boarded items that you want to add to the agenda And you know at least one person has written back and said yeah I’ve got more stuff for the agenda. So

[00:45:43.57] spk_1:
this can apply to any meeting again. Hell

[00:45:45.57] spk_0:
yeah, it could be a board meeting, could be a staff meeting, could be campaign committee.

[00:46:11.78] spk_1:
I’ve been in meetings where there was a time are appointed and the timer was not the the chair or the leader of the discussion that it’s someone else so that so that he or she leading the discussion can stay on topic and make sure that we’re moving each topic. But it’s the timers job to say We only have three minutes left on this 10 minute agenda item. And so it relieves the chair of the burden of watching a watching a clock. There’s actually a timer.

[00:46:39.98] spk_0:
Let me give you a pro tip. I love this suggestion. I totally support the suggestion and my pro tip is if you have somebody in the meeting, a board member, staff member, whomever it is that likes to talk too much and dominates ask them to be the timer because they’re going to be spending more time looking at the clock and trying to keep other people moving rather than pontificating um and taking up all the airwave. So

[00:46:42.31] spk_1:
with something else being

[00:46:50.48] spk_0:
go, it’s a deflection strategy. Um Yeah, that’s my favorite. Um So I bet you have other training questions you brought today since you’re better prepared than I am.

[00:47:17.88] spk_1:
Well, I feel like we’ve covered a lot. Um All right, let’s just let’s, let’s wrap up with managing time is your job. I think that’s that’s critical managing it subsumed in what we’ve been saying. But I want you to make it quick. You have, you have an obligation, you have a responsibility to your audience, Your meeting attendees flush that out.

[00:47:36.08] spk_0:
Thank you. Um It’s very interesting, tony that all the questions you’ve asked about training have focused on time um about not over stuffing, about to put times on agendas and it’s your job to manage time. So this is where you are and that’s interesting to me. Um So

[00:47:38.68] spk_1:
the

[00:47:43.98] spk_0:
work, the work for me as a trainer, when I get in the room, when I get in the room, I’m like doing it. I’m sorry, go ahead finish.

[00:47:51.58] spk_1:
Yeah, we’re out of time. That’s it. I’m the timer and we’re out of time by No, I’m kidding, don’t leave.

[00:49:20.47] spk_0:
Um Okay. So I guess I’m pumped defecating. There I go. Breaking my own rule. So regarding you being the boss of the time for me, the work for as a trainer is the design. It’s figuring stuff out in advance and being prepped. So when I go in the room, I don’t have to think about it too much. I can just do the work and I am doing two things. I’m paying attention to the content and I’m also paying attention to how much time things are taking and you have to have a split brain to be able to do that. Because what I’ll do in real time is all speed stuff up or I’ll slow things down based on how we’re doing against the clock. And sometimes you just have to toss stuff from your agenda because you don’t have time to do it or something more important is happening. And I’ve had, I’ve had trainings where I’ve done where we’ve gotten into really interesting deep water that’s not on the agenda and I don’t want to cut it off because it feels productive to me. So there’s an intuitive piece to this which is doing your prep, having your agenda timed out all that, but then showing up in the room and being present and seeing what’s going on and so part of managing the time is reading the room in understanding how much energy there is around the topic. Sometimes I’ll toss stuff because it just doesn’t feel like there’s any energy to embrace it and you know, I’ll go where the energy of the group is. So to me that’s one answer to your question is to prepare rigorously, but be prepared to throw out what you have prepared if the group is taking you in a different direction and the time is not lining up with what you expected

[00:50:32.36] spk_1:
and not only to throw things out, but I want to amplify something you said to spend more time on something or maybe accelerate your time, not throw something out, but accelerate your time and that’s where you know this becomes an art when on the fly, I do stand up comedy and you gotta, you gotta read the room if if certain jokes are working then you you do more of them and if another topic isn’t you you you move off it, but it’s the same as, it’s the same in a webinar or a facilitation or a face to face meeting the ability to move on the fly, intuitive, intuitively based on the clock and and the energy in the room, you know, you gotta, you gotta be watching both and that’s where it sort of one is quantitative the clock, there’s there’s no beating time. The other reason, how are people reacting to the material and where is their focus?

[00:51:31.16] spk_0:
Yeah. And the other part, I would say, and as a stand up comedian, you understand this. The other part is you don’t want to drive a particular agenda items so far that the energy goes out from it. You want to get out where there’s still some energy left. And sometimes I’ve I’ve co trained with people who wanted to milk a discussion until it completely died and then move to the next thing and you got to get out of a piece of content before all the energy is out. And you know, I mean, again, I think if you if you’re riffing on a joke, you have to learn how to get out before you’ve killed the joke. And um so I would say yes and I mean the I I that’s what I love about training is being in the room and getting that ended her back from the group. It’s been interesting doing this on zoom right and trying to figure out how to, how to transition that energy of the group into a room into something that works remotely. Um, but yes, your job is to both pay attention and be intuitive and serve the group and also managed the clock simultaneously.

[00:51:45.86] spk_1:
We’re gonna leave it there. He’s Andy Robinson, Andy Robinson online dot com. Andy. Thank you very much. tony

[00:51:58.06] spk_0:
It was fun. I’m glad we mastered the technology and I look forward to being in touch with you in the future and I hope folks will reach out if I can be of service to them by everybody.

[00:52:30.55] spk_1:
It certainly should be next week. More coverage of 21 NTCC I think if you missed any part of this week’s show, I Beseech you find it at tony-martignetti dot com was sponsored by turn to communications pr and content for nonprofits. Your story is their mission turn hyphen two dot c o and by sending blue the only all in one digital marketing platform empowering non profits to grow tony-dot-M.A.-slash-Pursuant in blue. And we did indeed overcome the technology triumph triumph over the technology challenges today. Thanks for hanging in there with us.

[00:53:10.45] spk_2:
Are created. Museum is Claire Meyerhoff shows, social media is by Susan chapman. Mark Silverman is our web guy and this music is by scott Stein. Mhm. Thank you for that information. Scotty. He wrote me next week for nonprofit radio Big non profit ideas for the Other 95 go out and be great. Yeah. Mhm.

Nonprofit Radio for May 17, 2021: Your Partnerships With FGWs

My Guest:

Esther Choy: Your Partnerships With FGWs

First Generation Wealth creators have different values and mindsets than those who inherited their wealth. And FGWs far outnumber the inheritors. Esther Choy’s research will help you understand these folks and how to build valuable relationships with them. She’s president of Leadership Story Lab.

 

 

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Every nonprofit struggles with these issues. Big nonprofits hire experts. The other 95% listen to Tony Martignetti Nonprofit Radio. Trusted experts and leading thinkers join me each week to tackle the tough issues. If you have big dreams but a small budget, you have a home at Tony Martignetti Nonprofit Radio.
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[00:00:10.64] spk_2:
Hello and welcome

[00:01:47.84] spk_1:
To Tony-Martignetti non profit radio big non profit ideas for the other 95%. I’m your aptly named host of your favorite abdominal podcast and I’m glad you’re with me, I’d suffer with lateral epic and colitis if you gave me the elbow and told me you missed this week’s show your partnerships with F G W s first generation wealth creators have different values and mindsets than those who inherited their wealth and F GWS far outnumber the inheritors Esther choice research will help you understand these folks and how to build valuable relationships with them. She’s President of Leadership Story lab and tony state too, in praise of donors like my dad, we’re sponsored by turn to communications pr and content for nonprofits. Your story is their mission turn hyphen two dot C O. It’s a pleasure to welcome to nonprofit radio Esther choi she is President and Chief story facilitator at leadership Story Lab, teaching storytelling to institutional and individual clients or searching for more meaningful ways to connect with their audiences. She’s a contributor for Forbes Leadership Strategy Group and you may have seen her quoted in leading media outlets like the new york Times and entrepreneur dot com. Her practice is at leader Story lab and leadership Story lab dot com. Mr choi welcome to nonprofit radio

[00:01:50.29] spk_0:
Thank you so much for having me.

[00:02:06.24] spk_1:
It’s a real pleasure. Welcome. Um you you have you have some new research out that we need to, we need to talk about transforming partnerships with major donors. What are, let’s let’s just jump right in and why don’t you explain what F. G. W. Folks are? And uh tell us a little about your research that you did with these F. G. W folks

[00:03:57.54] spk_0:
sgw folks? Well, I recently published as a research report um and lucky enough to have a really, really good exposure, such as the one you mentioned in the new york times. And uh, there are a lot of surprises about the folks that we generally in the broader society, just just overly sort of broad and call them the rich people or the wealthy folks or the high net worth individual or the ultra high net worth individuals as if they all belonged in this model is a group that they all think act believe in the same way. And so I got curious about them after I’ve taught uh, in this major gift strategy program at Kellogg for awhile, wondering why are these people so hard to get What, uh, because so many nonprofits is doing amazing and moving and important and urgent work that no one else is doing. So why is it so hard to reach them? So I dug further end. Uh, did a lot of homework and I interviewed 20 very, um there are ultra high network folks and I just ask some questions about how did they get you their wealth? What is it like? Um are there any downsides too well having wealth and so on and so forth, and focusing on philanthropy. Um so this report, I can talk about anyone number of ways. So you tell me, what do you, what do you want to most learn about these first generation wealth creators? Well, let’s

[00:04:01.27] spk_1:
let’s start with how big a proportion they are of the of the wealthy,

[00:05:24.64] spk_0:
wow, I am glad you start. That’s the starting point. Um that’s one of the biggest surprises that I’ve learned because they are At least 68 Of the, this massive group that we call wealthy, ultra high net worth. They are at least 68 of them earn their wealth instead of inherited. That’s a big, big difference between inherited wealth versus earned wealth and that means they’ve traveled a entire social economic class That they did not grow up with. And so some of them, very few of them really make the majority of their wealth in their thirties or even 40s. Most of them are in their 50s and 60s. So we’re talking about full on grown adults with Children and maybe even grandchildren by the time they become um this wealthy. So it’s a very interesting transformation of your life, your community, your social circles, the things that you worry about Or not worry about all happen around starting from the point of 50s and 60s.

[00:05:42.34] spk_1:
All right, So, so they’re at least two thirds, but maybe even a little more than two thirds of all the, all the wealthy folks. The way we would describe as you’re saying, high net worth, Ultra high net worth. These are these are 2/3 of those folks,

[00:05:46.24] spk_0:
correct at least. And it’s actually you

[00:05:49.01] spk_1:
said 68%.

[00:05:51.10] spk_0:
68%. I picked the most conservative number, but I’ve read elsewhere too. And put that to um somewhere 80,

[00:06:14.44] spk_1:
80%. Okay. Alright. 800. And and everybody you interviewed is first generation wealth. That’s that’s where your research was correct on those folks. Okay. So let’s get to know them a little bit. Um, your research has uh, a nice chart. I like, I like pictures of the first thing I look for in books and pictures. Uh, simple, simple. You’re you’re burdened with the host with a simple mind. Um, but you do have these, these pillars of wealth generation. So let’s describe these folks, not, not not all three. I mean, people are just gonna have to get the research, you know, I’m not going to quiz you, I’m not quizzing you on block number four in line three on the no we’re not doing that. I don’t want to go like word by word because people got to get the research. Which which is that? Leadership story lab dot com. Right.

[00:06:47.04] spk_0:
Alright, okay. You can download,

[00:07:07.34] spk_1:
yeah, there’s an executive summary and you can download the full report as well. Right? So leadership Story lab dot com for the full thing, for the full, for the full study. Um But let’s get to know these folks a little bit these these first generation wealth creators. Um you start by saying they’re understated. There may be even humble, are they are they to the point of being humble and modest,

[00:08:01.84] spk_0:
humble and modest and they have a hard time. They have a hard time with the, with the word wealthy, they understand the size of their assets, They understand um what they are capable of affording, which is basically anything, but they have a hard time with the label wealthy and um they oftentimes think of in regard and never really left their middle class roots and that’s the majority of them come from very middle class, you know, they don’t want to be flashy, nor did they enjoy flashy things that attract attention. So um you know, make no mistake, they are part of things that are very um you know, shiny and, and sophisticated and, and high quality, but it’s not who they are inside. So that’s one thing to keep in mind is that they are very understated themselves and they often appreciate other people as well as other things that are understated.

[00:08:31.64] spk_1:
You make the point a couple of times of saying that they don’t they don’t identify themselves as wealthy even though they know that they fit into that category, correct? Okay. Um so you sat down and you you met these folks, you, well maybe not face to face, but you you spoke with these people or couples or how did how did that all work?

[00:09:12.34] spk_0:
Yeah, So I did all the interviews with in partnership with the research firm And it’s all done virtually because it was done in 2020. Um There was one noted exception um where I was invited to her home uh and I met all her kids and her husband’s and you know, it’s just like the whole family in the background and it’s kind of funny to talk about her family while her family was around, but for the most part it was done um through zoom One through calls and then um there are four people, so two couples. Um I interviewed them at the same time together and uh the length just got doubled. Um you know, it’s usually 50, 50 minutes to an hour and with a couple um we talked for over an hour and a half.

[00:09:34.84] spk_1:
All right. All right. How do you, I’m interested in some of the details. How do you reach out to these folks? How do you, how do you get their

[00:10:58.44] spk_0:
attention? It’s really hard. So the first thing we mentioned um in one of the four pillars is their understated right? They don’t identify with the word wealthy. They certainly don’t make big advertisement to the world that they are wealthy. And so to find them and to get them to agree to speak on record, although it’s anonymous. Um and to get them to open up and talk about money and wealth. It’s really hard so I have to rely on a couple of key relationships. Um One is through one of my alma Mata um texas A. And M. University. And my friend and colleague, the ceo of texas A. And M. Foundation help me recruit a few quite a few of these interviewees. Uh My business partner who also happens to be a uh trustee at the University of Cincinnati, Cincinnati foundations and um through a couple of my own resources as well as my research firms. So 20 for qualitative studies is you know, sufficient. It’s definitely not a lot. 20 people doesn’t sound like a lot but 20 of these type of people and get them to talk about very sensitive topic. Um was it took quite a bit just to get them to agree to talk to me.

[00:11:13.64] spk_1:
Go. Aggies.

[00:11:14.34] spk_0:
Thank

[00:11:18.54] spk_1:
you. Absolutely. Um And what was the median income for these 20 folks families?

[00:12:25.64] spk_0:
So um at this point I don’t think their income is very meaningful any anymore. So where I am uh by median I would refer to their uh their their networks. So the net worth the median range is 50 to 80 million. Um Although um the low I would put it in the low teens, the highs I would put them in 100 and 50 just give you give you give our listeners a sense as well of what we’re talking about like by Well you know millions is like a lot of Zeros. You know at some point it’s just like my mind can’t keep them all in one place. Um according to the Fed in 2020 the top one of the U. S. Um Folks have 11 million. So these are all um uh you know sort of the top 1%. Er And um

[00:12:35.44] spk_1:
If for the one even right right mid teens to 50 or so was was roughly the median net worth.

[00:13:07.24] spk_0:
Exactly exactly. But then if you think about the one of 300 million people in the us That’s three million 3 million people. And that is about the size. If you put them all in one city all in one location there just below new york city, just below new york, just below Los Angeles but just above the city of Chicago. Mm So three million people. That’s a lot of people.

[00:13:27.04] spk_1:
Okay. And And you estimate conservatively that of those 3,068 our first generation they earn their wealth versus inherited. Okay. All right let’s go back to get to know these folks a little bit um uh their entrepreneurial, no surprise but tell us what, what does that mean for the way they think about themselves and the way they might think about uh, their philanthropy.

[00:15:37.94] spk_0:
Yeah, so in the most literal sense, they are were entrepreneurs. That’s how they created, most of them created their wealth and with a few um less than 20 of them had a very lucrative corporate careers. And entrepreneurs also means that it’s a mindset, it’s the lenses in which they apply all things through. Um So it could be the way um that they would like their Children or grandchildren to approach um you know, if I wanted to study abroad even um and you know, I need additional funding. Well, how much you think about it as what untapped opportunities might there be out there for you in this country that you want to study, but it’s not currently fully leveraged. Um but entrepreneurial could also means to, as they think about non profit, as they really think about how they want to leave their social impact and how they want to fully make sure that their philanthropic dollar is put to good use that also applied and, um, compatible with their middle class values. So, uh, it’s, it’s, it’s up and down side, right? Um, sometimes something just can’t be measured. Sometimes nonprofits are run by people who are philanthropic reminded and socially minded and they don’t necessarily have the same sort of business acumen as, as, as well as, um, fear competitiveness, um, that these donors tend to have an embody. And so the downside of having that entrepreneurial mindset is that sometimes it creates clashes. And if, you know, at the very least disagreements on, is this really the best use of the precious dollars that your organizations have? Um, sometimes there’s no straight black and white answer yes and no. Um So um that’s what I mean by entrepreneurial

[00:15:52.04] spk_1:
And what else what comes next in those four

[00:16:03.84] spk_0:
pillars? So the third is free and I truly it seems like a very simple no nonsense and and and we’re like oh we live in a free society. But I think the truth of the matter is that a lot of people are not free, they are not free to pursue whatever they want, they are under certain professional career obligations or financial pressures

[00:16:22.84] spk_1:
and they are a lot of options.

[00:17:44.94] spk_0:
Yeah, exactly. And that’s why a lot of career counselors ask mid to even late career folks, you know, what would you do if money is not an issue? Right? I’ve heard that questions asked a lot in Korea counseling because a lot of people are under that pressure. But these F. G. W. S. They are not and for them it’s often times for the first time is, wow, now it’s not a theoretical questions anymore, I really don’t have to worry about money. Okay so now what what do we do? And so um a lot of them pursue experiences, a lot of them want the same thing for the Children and grandchildren. Um They uh pursued 3rd 4th 5th careers that they’ve always are interested, intrigued by, know that they’re not very good at and know that they probably may not may or may not be able to make a ton of money with. Um But they pursue it anyway, so it’s that sense of freedom. Um that I think a lot of people as long as they have to still worry about saving for retirement, saving for making sure you can pay your mortgage and things like that. It’s really hard to wrap your mind about. And then these folks are just sort of Mhm fully embracing,

[00:17:56.94] spk_1:
may want their Children to understand that having a wealth of options doesn’t just come, it comes from hard work and and devotion, which is what they devoted their decades too, so they want their Children understand that, that does just doesn’t just happen for everyone.

[00:19:40.94] spk_0:
Yeah, I’m glad you bring up Children across all 20 of them, even though the ages ranges from Late 40s to a few 80s, um they all worry about their kids even though their kids have all grown up or they have worry about their kids or have regrets about uh the way that they raised the ways that they pass on their assets uh to their kids. And the funny thing is that they did not tell me oh I have so and so um I really can confide in or I know these uh professional resources uh that I can go to and um all of them are just kind of like, I hope I’m doing the right thing. In fact, I know I haven’t done the right thing, but then talking to piers surprisingly was not an option across any of them. And so although they’re free, but this taboo topic of money and wealth have prevented them from really searching for the right answers at the time when decisions had to be made. So Children, it’s a constant universal worries, especially for people with wealth. Um, we’ve seen from studies after studies that for example, substance abuse tend to affect um, Children from families with means disproportionately higher than those who are not from a family with means.

[00:20:45.54] spk_1:
I wonder if there’s some tension for them because they’re not comfortable talking to those who inherited their wealth or even just other wealthy people because they don’t they don’t identify that way, but then they’re not comfortable talking to those folks that they knew when they were struggling in their careers and before they’re they’re great success there, great financial success will qualify that because success can take lots of, have lots of different levels to it, but before the great financial success, because they, like, they don’t want to, they don’t want to appear overbearing to their non wealthy friends who they know from high school and college and, you know, maybe professional school or you know, whatever. Uh so there they, like, caught in the middle, like, they don’t have valuable personal relationships to, to leverage and count on in in in times like when they’re questioning what, what to do with Children and, you know, sort of existential questions like that.

[00:22:44.14] spk_0:
Yeah, so this is another downside of being entrepreneur. Um another way to call someone very entrepreneur is what, you know, he’s he has a can do spirit, she has a can do spirit. So if you can do, you can do it yourself, you don’t need to count on other people to help you, you can pull yourself up by the boot strap. So uh that’s one and two is again, the subject of wealth, it tends to be taboo. Um in fact, the broken institute economist Isabel Saw Hill made this really app as observation and she said that people rather talked about sex than money and money than class. So first generational wealth creators have travel across classes and so that makes it really hard for them to say, you know, I don’t know what’s the right way if we do, if we travel, is it wrong for us to buy business class or first class and what are your middle class friends going to say? Poor tony poor Esther you’re struggling with questions like should you travel in business versus first class and it’s not something that a lot of people, first of all empathize with, and second of all have the right context to give sound councils and what about professional um coaches and um counselors and whatnot? I didn’t actually covered in the report, I chose to exclude it and just in the in favor of focusing on nonprofit and fundraising. But their experience with uh wealth management advisors are very mixed because it’s an industry that has a lot of conflict of interest. There are some really, really good

[00:23:04.54] spk_1:
let us in on something that didn’t make the report, this is great not profit radio you gotta let us in on the, on the, on the back story. What? Say a little more about these, the trouble they’ve had the mixed results, mixed results, I’m sure some have been, some results were fine, some relationships are fine, but so a little more about what didn’t make the final report there.

[00:24:40.84] spk_0:
Um I cut a whole section of just because I think it might be detrimental to getting people to read it when it’s beyond a certain length. So this whole section that I cut off was on um, how they view advisors, um, counselors and things like that. And indeed, you know, uh, two words to describe the entire section is that it’s very mixed. Um, some have great experience, some on the other end of the extreme is um, they thought the people they interacted with is just uh, the advice weren’t very good or too obvious or that again, they can do it themselves. Why do I need to pay you so much money to tell me something I know already. And uh, and, and by the way, that is somewhat parallel to their experience with uh, fundraisers. So I don’t want to just put the hammer on uh, wild advisors and and and um, tax advisers and whatnot. Um, because this idea that, oh, we know you’re wealthy, we know what you can do with your money, either for the benefit of yourself as well as for me or my organizations. That really changed the dynamic of the conversations as well as the services, how services rendered and that’s to their relative to their expectations. Um, so that’s why it’s not very helpful I think just to come off and um list a bunch of things that they’re not happy with without being able to say what would be helpful. So I just removed the whole section and also in favorite of keeping it readable length.

[00:32:20.44] spk_1:
It’s time for a break. Turn to communications. You remember them, you’ve been hearing about them, the biden tax plan, the infrastructure plan, immigration. Is there anything in there in these continuing conversations that you’d like to be heard on? Anything in their impacting your work? Anything in there that you’re expert on and you need to be heard. You want to be a trusted source on something that’s under constant conversation and it’s in the press turn to has the relationships that can make that happen. They are a trusted source by lots of media outlets. They can get you heard on the subjects that you know best and that your expert on let them use their relationships to help you because your story is their mission. Turn life into dot C. O. It’s time for Tony’s take two In praise of donors like my dad. My dad is 88 years old and he gives to dozens of nonprofits a month. I have seen the checks that he writes now, 88 years old. So you know, he’s not doing online giving, he’s not doing online bill paying. He writes cheques for those of you not acquainted with checks. They come with check registers. That’s a little booklet that you can write all your checks in. So you can reconcile month after month, right? It’s an old process, but For an 88 year old, it’s the way it gets done. He’s outgrown check registers. He writes so many checks to charities each month that he just keeps a running list on sheets of paper. And there are so many check entries on each sheet that the sheets are curling up a little bit. When the sheet is complete, it’s almost like parchment. It’s curled up a little bit because there’s three columns Of checks in on each page. I don’t mean each check takes up three columns. I mean there are three columns of checks on an 8.5 by 11 page. He’s got a he’s got the check number, his own abbreviation of the name of the charity and then the amount and uh, he’s got the date, it’s got the date in there too. And so that’s how he reconciles. Uh, so yeah, dozens of checks to charities per month that, you know, that’s a kind of giving that I only and experience with through him because I do plan to giving, which is on the other end of the spectrum of giving. Um, he certainly doesn’t consider himself a philanthropist, but he’s very, very supportive of charities and and how does he choose the ones? Well, first of all they find him, I don’t know how the list exchanges or sales work, but charities come to him. So they send him U. S. Mail. He’s got no email, he’s got no cell phone. Um We’ll get to vetting in a second. So charities right to him. And he read the materials he scrutinizes, he decides whether he thinks the work is merits, his giving and something that he wants to give to, something he’s interested in. And then he goes to the Better Business Bureau. Why is giving alliance report on charities? And why does he choose that one? Because it’s in print, there’s no going online to charity navigator or any other rating service. Uh, that’s online. He goes to the print the booklet. So Better Business Bureau and if he likes your work and you’re listed in the Better Business Bureau, giving booklet rated well in there. Then he writes a check and you probably, these charities are writing to him again a month later and there’s a good chance he’s writing a check a month later, et cetera. It’s a very iterative process. There’s no real learning that goes on. I can’t say there’s a feedback and improvement part to the iterations. But, uh, the cycle continues. You know, we need people like that. These small donors. That’s a, you know, some people prefer to say modest donors. I’m not commenting on my dad’s or anyone else’s character. When I say small donors, it doesn’t mean that he’s a small person. Just he gives small gifts. So I avoid the euphemism, I just say he’s a small donor. We need small donors like this. You know, they he’s loyal. Once you, once you meet his threshold and it’s not very high what I described, then you’ve got him for a long time. Don’t try to upgrade him though. He’s not going to become a major donor and he’s not gonna put you in his will. I’ll see that that part. So forget the planned gift. That’s not happening. No, but he’s not, he doesn’t think that way. He’s never gone deeper with any charity that he gives to the way I’m describing. We need folks like that. We need the, uh, $10, $15 $20 donors. And in some respects, he’s a recurring donor. I mean, he is a recurring donor. He’s just is not part of your monthly recurring program that’s set up automatic, you know, the automatic debits credits. Um, he’s not, he’s not one of those, but he’s he’s a recurring donor. So in praise of donors, like my dad, it’s very interesting to watch him. We’ve talked about his process. Yeah, We need folks like that. And here we are talking about future, um, or wealthy, wealthy folks. I’m sorry, first generation wealth. Here we are talking about. And my dad, is that the, well, these folks, I would put plan giving at the far end of the spectrum. So these folks are near there, but my dad’s at the, on the left side of the spectrum. We need them all. We need all these donors. That is Tony’s take two. We’ve got boo koo, but loads more time for your partnership with F. G. W. S. All right. Finally, these folks are lone rangers. What does that

[00:35:39.44] spk_0:
mean? Um, we touch upon it a little bit where we, um, you know, they are part of this new class of wealth. They’re like immigrants in some way. By the way, I really wanted to recommend a few books, uh, not just mine, um, that really helped me round out my understanding. So this whole idea of um, think of first generation wealth creators as immigrants. Um, they have migrated from a different class altogether and enter into this world where the beliefs, um, the values and oftentimes even language, um, or foreign to them and although it’s great, this is paradise. Um, they often find that there are tricky conditions. Some even would say because their native born Children and grandchildren, um, don’t understand the privileged privileges that they were born and then we’ve gotten accustomed to you. Um, and the cliche or the adage or however you wanna wanna wanna call it shirtsleeves, to shirtsleeves, rice paddies to rice patties, wealth does not last past three generations and they know that. And so when you think about this special Land of Paradise again, by the way, this is uh, I learned it through the book called uh strangers in Paradise by James Grubman. Um, their need of born Children and a grandchildren, statistically speaking, will be deported back to harsher land where the first generation have migrated from. And um, and here’s the kick tony I, I just, I just found it fascinating and this is why I can talk about this, you know, forever and ever mismanagement of their wealth, taxes and inflations and bad investments. All of those are more just the natural delusions from, you know, the couple, two Children, two grandchildren, right? All of those reasons are reasons for wealth, not being able to last past three generations, but you will probably, I’ve never found anyone cases for example, or family where the story basically is, well, grandpa and grandma gave it all the way to charity and left nothing to us. That’s why we’re poor again, you know, that just doesn’t happen. And so what my I think what I really want to focus on, I think the opportunities for non profit is that what might there be an um different way to think about the conversations that you have with these donors where you help them solve a problem or maybe many problems and then you also help yourself um solved the problem. By the way, I’m getting like, way, way, wait, this is a problem when you we have no script. I’m getting like way away from the lone ranger questions. I’m going to bring

[00:35:49.36] spk_1:
you back, but I

[00:35:51.31] spk_0:
but I think I’m getting to the whole

[00:35:58.84] spk_1:
profit radio No, no, you’re not. You’re, what you’re saying is still valuable. Don’t don’t 2nd guess yourself. What

[00:36:34.33] spk_0:
I’m, what I’m getting at is that it’s lonely to be first general. It can be lonely to be a first generation immigrant. Mhm. Except that most immigrants have somehow found other immigrants and they talked, they share notes that commiserates, they help each other out. But um, first generation wealth creators are particular type of immigrants where for all the reasons that we’ve talked about, they don’t actively look for help nor was real quality help readily available.

[00:37:15.83] spk_1:
Okay, interesting, really fascinating analogy analogizing them to immigrants. Um, did you, did you put any of them together uh, since you met 20 of them and got to know them? So these folks that are, uh, feeling loan, feeling loan, I don’t know, lonely, I’m just using what I’m not saying, they’re lonely in their lives. Maybe they are, but they’re lone rangers. Did you, did you put any of these folks together? Say look, you know, I met I met so and so like two or three weeks ago. And she was saying the same thing that you’re saying, you know, one of the two of you talk or would you be interested? You know, did you put any folks together to help them? Uh commiserating at least maybe even help. Maybe at best help each other.

[00:37:21.08] spk_0:
I

[00:37:23.32] spk_1:
think I

[00:37:44.63] spk_0:
Would I would if I were asked, but with these 20, because of the promise of confidentiality, um, I don’t share their names or contact with anyone, but um, I have done webinars since then where I was asked. So how do you find these people? And then if if they asked me then I will help.

[00:37:49.37] spk_1:
Okay. Okay, well I’m like a connector. So I was thinking, you know, if I could get her permission, would you like to talk to her? Because the two of you are saying things that are really identical and maybe together, you could help each other

[00:39:15.72] spk_0:
as well as having very similar questions. And this is where I was getting at the opportunity part because they’ve asked questions like how much and when should I pass my asset to my kids and grandkids, It’s dealt with by, um, with wealth advisors on a very case by case basis. And I think that should be, that’s the way it should be done. But what’s really sorely missing is how do other families handle this right to your questions of? Well, there are other people like me, what do they do? Because they’re in my boat? Um, so as well as questions like how do I get in sync with my spouse? Um, and then they also have questions on like, how do you truly vet? um, a non, a non for profit, you know, and how do you help? Not my, you know, the nonprofits that you support become more efficient and they are aware that not coming off as because I’m a donor, I give money and um, you should do what I tell you to do. Um, things like that, you know, that productive relationship with nonprofits. So there are endless questions like this that they can talk about, not just commiserated, although commiserating is great too.

[00:39:49.42] spk_1:
All right. I don’t know. I think you could be a connector, a major connector. Um, and I notice I’ll leave that there. Uh, but you know, the title of your research is transforming partnerships with major donors. So, so let’s let’s let’s transition to some of those opportunities. You talked about problem solving that could be mutually beneficial. How do I would’ve fundraiser ceo approach someone with that with that kind of opportunity?

[00:39:59.62] spk_0:
Yeah, so I want to break it down to three steps. I want to break one,

[00:40:00.91] spk_1:
2, 3, 1, 2, 3, 3 step process. Okay.

[00:40:03.92] spk_0:
Yeah. Well, yeah, okay, you can call it a three step sauces,

[00:40:07.35] spk_1:
but I didn’t invent it, you made it

[00:42:35.30] spk_0:
up. I think the first thing is you have to really think about the questions you ask them and uh, oftentimes, how curious how respectful for how informed you are are all set out by the kind of questions you asked? Are your questions mostly really at the end of that they self serving. Um or are you only focusing on a very narrow aspects of the donors? Um or are you really broadly interested in problem solving? Now, here’s another thing that entrepreneurs like to do, they like to solve problems and oftentimes they take the same mindset towards non profit Am I really giving to an organizations that are going to solve real major problems in assisting for sustainable way. Um, so that’s the first thing is the questions that you ask And then two is reading once you really find out about uh, you know, what you could learn from the donors, is that really being able to pair what your nonprofits have to offer and that structure in a way as well as well as frame it in a way that, uh, fits the mindset of, well, oftentimes the folks are very busy, they know they need to do something, but they’re very busy. So, um, how is it, uh, how do you make it easy for them? In other words? And then, um, the last thing I would say is, um, it would how do you acknowledge them? Right. Um, it sounds really obvious, right? You know, their stewardship program, there are people will involve in thanking donors. But what I’ve found is that people found, uh, people thought there’s not enough thank you or there’s too much thank you. And they’re not thank through the right medium. And so, Uh, we’re not talking about, you know, $10 $20 where there may be hundreds and thousands of them and you can’t manage them one by one and customized it. But with major donors, it’s absolutely worth it to make sure that is customized to their preferences needs. So questions, the way that you frame as well as the acknowledgment part

[00:43:38.80] spk_1:
and the acknowledgement of the stewardship is interesting. Um, you say somewhere that they, these folks have a hard time understanding, uh, the name on a building. You know, why that why people find that appealing? Why some donors find that appealing? So, so a brick and mortar in fundraising was a brick and mortar recognition would not necessarily be appealing to them. But finding out what is appealing comes from, you know, maybe this, this three steps is sort of iterative, right? And if you’re starting to get near, uh, near something promising, you want to, you want to be finding out to about what they would like in terms of acknowledgement. Yeah. How would you like to be recognized what’s important to you?

[00:43:42.92] spk_0:
So I have a friend of mine who advised nonprofits with operations like this. And um, she helped one of them. She said, you know what, why don’t you just want to just ask?

[00:43:57.37] spk_1:
Yeah.

[00:45:25.09] spk_0:
Uh huh. So he did, he created a survey through surveymonkey and you know, they have more than a handful so they can’t just call them up and ask them individually. So, um, he created a survey and he got over 70 response rate, which is really, really good, right? If you’re for for survey. And um, so the survey basically center around 33 things. Um, how would you like to be think? How often would you like to be think and through which medium do you most prefer to be think? And it’s not only do they have really good a feedback, but it’s such a positive gesture from the non profit to the donors saying, hey, we actually admit we don’t know, but we care and we should, we know what we don’t know and we care and now we really would like to learn more from our donors And that truly is a practical, helpful, informative donor centric step to take. And by the way, her name is Lisa Greer. She also has a incredibly helpful book called philanthropy revolutions. So it’s a mixed of, um, it’s a mix of memoir, it’s a mix of research because she told her story, but she also has interviewed over 100 principal gift level donors and um, and uh, and the last mix of how to. So it’s super helpful.

[00:45:41.44] spk_1:
How does lisa spell her last

[00:45:45.69] spk_0:
name? G R E R lisa Greer.

[00:45:54.79] spk_1:
What else? What else can you tell us Esther that uh, in terms of approaching these folks? Um, how about you get, I have a question for a little more specific question. How about you get their attention?

[00:49:04.47] spk_0:
Yeah, I know, um, getting the first meeting, it’s like 50 or 60 or, I don’t know, 70 of the work just being able to get in the call. Um, I think everything matters in the smallest amount of space, which is if you have no other ways to reach them. What do most people do? Emails and so make sure that your subject lined is the most attention grabbing as well as intriguing possible. Uh, way to, to get people’s attention by the way I have. I don’t know if I can memorize the four persona um, off the top of my head. Oh actually I do, I have it right in front of me. Um, my colleague scott more Dell. Um, he is the longest serving ceo of Waipio global young presidents organizations. So these are a lot of the highly concentrated, um first generation wealth around the world, 30,000 of them are around the world. Um, he actually put the their philanthropic tendencies in four ways. Um the idealist is the first one. Those are the ones that you want to make a true impact, long lasting impact. Soft societal problem. Another one is called the legacy Leader. Those are the one who really loves to leave, make sure they name last generations and generations that they are getting credit for the big impact that they made. The third one is called the model citizens and those are the ones that look around and understand what is the highest and highest of highest level of service and they want to be there and the philanthropic effort reflects that. And then the fourth one is called the busy bigwig. That’s the ones who are busy, extremely busy and yet they know they should do something but they don’t know what and how and so back to your questions of how do you get their attention? I think you should first by starting with having a point of view of Mhm. Of these four possibilities which one is this person most likely going to be. And then once you have a persona in mind, then is a lot easier for you to craft a message with the subject line that is most intriguing and attention grabbing for you. I get, despite what my clients and friends and colleagues know about me, I still get these extremely bland and generic um email messages that are, you know, if you just replace the logo of the nonprofits, I will fit anybody

[00:49:11.38] spk_1:
at

[00:49:35.07] spk_0:
all. And so, uh that would be the first thing I think about is have a persona in mind. Even if you’re wrong, it’s okay. Even if you’re wrong, at least you have a point of view about that person. But the upside is that Even if you’re not 100 right, just having the personal, that persona is going to help you speak to that person as if you know a lot about them already.

[00:49:49.87] spk_1:
Are you only really only going to get to them through an introduction or like somebody has to give you their email or I mean there’s not a directory of first generation wealth creators, is there? I know yours was obviously yours was anonymous, but because they’re a I don’t know is there a directory or

[00:50:00.81] spk_0:
something that I think that’s a really interesting question.

[00:50:04.75] spk_1:
Basic basic is what I major in

[00:51:01.96] spk_0:
basics. So really, really interesting question. I love the way you think about things. tony Um Not only is isn’t there one um they really know how to how to hide their wealth. You know, they believe in stealth wealth, not only because of the way they live their lives, but they know how to put things in all things in trust and so everything comes through a different name. And um data can help, um, the right kind of data can, uh, data enriching as well as data matching. Um, I don’t know a ton about it, but I know enough because there’s another company that I co founded that like, that’s all we do because in the old ways, how do you get names of donors? Okay. You ask your board, uh,

[00:51:20.56] spk_1:
that’s how you start. A small organization starts. But, um, but then now, I mean, now we have social media and you can have a campaign and see who gives to that. And then you then you do some research on those folks to see who, who might be, uh, have the capacity to do more. And then you expand your relationship even with the others who may not have capacity, but our willingness.

[00:51:22.66] spk_0:
But see, I I think there’s a lot in your current database that is not being fully utilized,

[00:52:05.85] spk_1:
that maybe for some folks. Yeah. And uh well, because we’re talking about stealth wealth. I mean, yeah, that’s that’s certainly possible. I mean, these these folks live modest, live modest means. I mean, Uh at least outward. Um I mean what, 20 years ago, there was the book the millionaire next door. I mean that’s essentially what we’re talking about this is there are more Zeros now and there are more of them. And we’re in a more financially mobile society now than we were 20 years ago. But the concept is the same that there are these hidden families of wealth that that are may very well be in your database. You know, then it was the millionaire next door now the millionaire in your the ultra high net worth in your database.

[00:53:26.15] spk_0:
Yeah. And when you, you know, go back to the questions, the way that you ask questions of when you have an opportunity to talk to a donor directly. As well as the way that you ask questions about your databases. Um That can really help you look for hit millionaires billionaires right in front of you were in front of your eyes. I wouldn’t be surprised that there are already uh but you aren’t you’re you’re not even aware that you’re pretty close when lisa and night um because of our share passion about this topic and she’s really doing it full time. I’m doing this. This is because This is my baby. Uh you know the first time she wanted to make a a principal gift um to her local hospital. Um she uh budget for $2 million dollars for her hospital and it took the hospital seven months to pay attention to her. And $2 million dollars isn’t a small amount for that hospital. It is definitely a major amount.

[00:53:57.95] spk_1:
But the latent, unconscious sexism, I’ve heard this from women. I do plan to giving fundraising, but I’ve heard this many times from women just ignored when they made explicit overtures. Not just subtle hints, but explicit overtures. You know, I want to do this. I want to remember the organization in my estate plan and, you know, ignored, repeatedly ignored. So, unfortunately, what you’re describing, your friend, lisa’s, uh, I don’t think it’s so uncommon.

[00:54:03.23] spk_0:
Yeah, I

[00:54:21.34] spk_1:
think it’s, I think there’s some, I think there’s just unconscious latent sexual, uh, not sexuality, sexism, uh, uh, in fundraising, it’s and money is left on the table as a result, died from the morality of the, uh, of the, of that that misunderstanding.

[00:54:41.64] spk_0:
Yeah. Yeah. So, so it’s haven’t seen quantitative research on just how frequently that happened, but that’s leases from her research, from her personal experience from your experience. So I think there are actually plenty of money within reach of nonprofits that they probably have missed, but they didn’t know they have,

[00:55:25.64] spk_1:
we’re gonna leave it there, it’s perfect. Now you have opportunities and I know that our conversation has stimulated thinking about how to find these folks and how to transform your partnership with them Esther choi the research is transforming partnerships with major donors. I’ll give you the full title aligning the key values of first generation wealth creators and fundraisers in the age of winner takes all. You get the research at Leadership Story Lab dot com. That’s where Esther’s company is. Leadership Story Lab and also at Leader Story Lab, Esther choi I want to thank you very much.

[00:55:27.50] spk_0:
Thank you. This is such an invigorating conversation, thank you for the opportunity.

[00:55:47.64] spk_1:
Thanks for saying you’re glad that I asked you were one of the generous, generous guests. I’m glad you asked that I got, I got chills. Thank you Esther next week, overcome your fear of public speaking. If you missed any part of this week’s show,

[00:55:50.02] spk_0:
I beseech

[00:56:00.84] spk_1:
you find it at tony-martignetti dot com. We’re sponsored by turn to communications pr and content for nonprofits. Your story is their mission turn hyphen two dot c o

[00:56:03.44] spk_2:
Our creative producer is Clear. Meyerhoff shows social media is by Susan Chavez. Mark

[00:56:08.57] spk_0:
Silverman is our web

[00:56:09.49] spk_1:
guy and this music

[00:56:13.74] spk_2:
is by scott Stein, mm hmm. Thank you for that information, Scotty be with me next week for nonprofit radio big non profit ideas for the other 95% Go out and be great.