Photo by Amy Hirschi on Unsplash
You’ve done your research, your project concept is solid, you’ve developed a relationship with your prospective donor, and you've finally delivered your ask.
Now what?
Many organizations spend all their time and effort building up to this moment (understandably), but little thought goes into what comes after the ask.
A ‘yes’ or a ‘no’ for your proposed project will mean different processes further down the track, but in the meantime you can further deepen the relationship and increase your chances of an eventual ‘yes’.
Here are our four ways to productively fill the time between the ask, and the answer.
1. Schedule your next meeting
During your “ask” meeting, take the opportunity to schedule a follow-up meeting. Aim to set up this chat regardless of when the funder says they will reach out to you (though be accommodating so as to not push them away).
The purpose of a second meeting is to create further contact, but mainly it’s a chance to clear up any concerns or misconceptions about your ask. This “objection handling” will allow you to alleviate any roadblocks that might hinder the deal.
You can also use this extra time together to reinforce the key points from your proposal, and further build the relationship between the two of you. Even a short secondary meeting will help to build trust and grow your relationship.
2. Keep the funder up to date
It may take your funder weeks or months to make a decision, but in the meantime it’s your task to keep them informed.
Be sure to share milestones, important announcements, news on upcoming events, or new reports and materials. Aim to send interesting or pertinent information so the funder sees value in reading your emails and gets as excited about the project as you are.
These updates don’t have to be strictly related to your organization—they can also be resources or information (like new research) relevant to your focus area. The idea is to foster a dialogue whereby you become a trusted source of valuable information that will feed into their eventual decision.
Naturally you should prioritise any updates directly related to your funder’s objectives.
However, these interactions should not be used to nag them about your ask specifically—the idea is simply to keep your program top of mind and subtly remind them they have a decision to make. It will continue to establish trust and show your progress.
3. Get to most out of your software
Now is the perfect time to make use of your donor management software, or your CRM. This tool can ensure you’re keeping track of your strategy, and help you decide when to reach back out to potential funders.
When you’re doing it right (maintaining as many potential funders and making as many asks as you should), you’ll definitely need software to stay on top of it all. Using a clear and structured process to manage your external relationships ensures that each ask gets the attention it deserves and that you’re following the pre-set strategies for each one.
4. Take initiative on the process
Generally speaking, donors are busy people and will rarely take the initiative in your relationship. It’s your ask, and you must be responsible for it.
Therefore, if you tell them you’ll do something—such as follow up with new statistics next week—do it! They won’t follow up if you don’t.
They might be your whole world right now but you may be far down their priority list, and it can be unproductive to believe otherwise. Make it your priority to give them the information they need to continue to prove your accountability and trustworthiness, which will continue to deepen your relationship.
These four tips are part of a wider strategic process or strategy to maximize your impact and give you the best chance at getting that “yes” from each funder you talk to. Keeping everything documented is the most effective approach to do that.
If you’re unsure about creating a strategy or are questioning the effectiveness of your current process, don’t hesitate to reach out to us! We offer free consultations and are happy to provide fundraising support.