When in the business of fundraising, you will have to deal with 4 main forms of fundraising. Managing relationship will be involved in each of these main forms of fundraising as relationships are regarded as a key determining factor when it comes to the success of each of your fundraisers. The first type of fundraising involves the institutional grantors you will have to work with in order to raise the necessary funds.
Such institutions are quite difficult to deal with mainly because their bureaucratic nature affects every effort from your part. However, they are to be considered when looking for funds because their endowments and grants may often amount to some really incredible amounts of money. This is the main reason why you should not dismiss such institutions when looking for funds.
Once you have the necessary time, energy and patience to invest in a relationship with an institutional grantor, you may find out that a single and simple grant coming from it may secure the future of many of your planned fundraisers. Once you get such a grantor to support your fundraising cause, you will be able to rest assured when it comes to the financial security of your fundraising plans.
The second form of fundraising involves the regular promotion of product sales and special events in order to generate awareness towards your fundraising organization and raise the necessary funds for your cause. Even if fundraising promotion is likely to include a wide range of themes and ideas, there is a key and central theme when it comes to comparing them all. This key theme is all about letting your donor know what he/she is getting in exchange for the donation.
Fundraising promotion is to be regarded as a labor intensive activity and it will require detailed planning. For instance, if you go for even planning, you will have to spend a longer period of time on the necessary ticket sales. The third form of fundraising involves direct marketing. This particular approach is all about paid advertising, direct mailings, door-to-door canvassing and public service announcements.
When done in the right way, direct marketing is likely to become extremely efficient and it will allow your organization to reach out to a larger number of potential donors. When dealing with direct marketing in your fundraising efforts, you will have to make sure that you are provided with a very reliable donor list. Keep in mind that you should not spend valuable resources trying to ask potential donors for donations once you know that they have no connection with your fundraising cause.
So, you will have to make sure that each of your direct marketing efforts is highly targeted in order to achieve all the wanted results. Approaching individual donors is the fourth main form of fundraising and it is quite similar to approaching the institutional donors. However, in the case of a potential individual donor, you will have to gear your efforts in order to achieve the wanted results.
For instance, you may go for well planned gifts thus leaving the individual with the chance to give a portion of his life insurance policy or estate to your fundraising organization. Just make sure that the individual donors are approached only by your most experienced team members because fundraising is all about managing relationships in the most effective way.