No one wants to be a part of a failing project; people like to participate in success. This is why it is often easier to raise the last $100,000 than the first $100,000. Everyone wants to know that they have funded a project that is really going to fulfill the initial vision they gave to.
It is a special kind of person that likes to be the first to give. More often than not, people want to know answers to the following questions: how much has already been raised, who has already given, how long have you been raising money for this specific project? This is why capital campaigns don’t go public until a large percentage of the money has already been raised. Everyone wants to know you will accomplish what you’ve set out to do, especially when it includes their giving. Here are some tools you can use to let success breed success:
- Show progress. Regular updates that donors are giving and giving generously are important to keep the momentum of a campaign going.
- Set attainable goals. Achieving a goal motivates everyone to be successful and improve the next time. If a goal is too large no one will even try to make it. It’s easier to set a small goal and achieve it and then set a little larger goal and achieve it than to jump into achieving a large goal.
- Invest in your givers. Use those individuals who have already given to encourage their friends and community to give. These individuals want to see you succeed or they would not have given.
- Make sure your goal is not arbitrary but serves a specific need. Raising $10,000 because it sounds like a nice number is not motivating. Raising $11,000 to furnish a room at a hospice is more motivating because people understand that their gift will make a specific difference and why you need money to make that difference.
What are some other tricks of the trade? How have you brought about success with your campaigns? Any best practices?