(This post is Part 2 of a 2 Part Response to a Submitted Question)
The other first step is to make a list of potential “purchasers” of those naming opportunities. These must be people with the (significant) resources to be able to afford the “purchase” – people to whom you have or someone close to your organization has access, and they must be people who have a need that will be satisfied by writing that check.
The “need” can be as simple as the desire to see one’s name posted in a public place or as “philanthropic” as the desire to provide-something-for-the-kids. In essence, someone has to know enough about your likely donors to be able to answer that question.
Once you’ve made up the two lists, the discussions start as to how much to “charge” for each naming opportunity … said discussion to be realistically based on what people might be willing to “pay” for each “opportunity.”
When you’re finished with that process, you should have two lists: one of your naming opportunities with “prices,” the other of your list of potential “opportunity purchasers.”
Just to clarify, I’ve been talking about “charging,” “selling,” “prices” and “purchasing,” but we’re really talking about tax-deductible contributions … assuming that the organization “selling” those “naming opportunities” is a 501(c)(3) nonprofit organization.
The “bottom line” of the process comes after the lists have been completed: Asking For The Check.
That MUST be done on a face-to-face basis. The process is simple: to have the right person meet with a potential donor and ask for the specific dollar figure, explaining how “it” will benefit the kids and how the donor will be recognized for his/her gift.
Don’t waste your time trying to do this any other way. The biggest mistake many organizations make is believing that this doesn’t apply to them. Any method you use other than face-to-face may raise some money, but it will be a heck of a lot less than if it was in-person.
The hard part of the process is figuring out who the right person would be to ask each specific potential donor for his/her check. (See: Asking For The Major Gift. Take your time. This process can’t/shouldn’t be rushed.
Have a comment or a question about starting, evaluating or expanding your fundraising program? With over 30 years of counseling in major gifts, capital campaigns, bequest programs and the planning studies to precede these three, I’ll be pleased to answer your questions. Contact me at AskHank@Major-Capital-Giving.com
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