3 Tips for Improving Annual Giving This Year without Reinventing It
Colleges and universities will have another crisis on their hands if the pandemic distracts presidents from routines that generate revenue.
Annual giving is the fundraising drumbeat that sets the giving rhythm for the year. If this year needs anything, it is a familiar tempo.
The most remarkable thing about annual giving this year is that it doesn’t need special attention. You have had to re-think classroom space, PPE and social distancing. Let annual giving be the one thing that runs normally this year.
But you probably have unusually challenging revenue needs. Let Old Faithful help. Here are the 3 things you and your advancement team can tweak this year to improve annual giving.
Start using the term “annual giving” instead of “annual fund.” Think about this as a donor’s habit, not a designation. Don’t let the CFO name the marketing strategy for their favorite revenue line: “unrestricted” (sorry CFOs). Appeal to donors on a yearly basis for specific needs that are already in the budget.
Set realistic dollar goals to drive the marketing of specific budget-relieving projects or purposes. This year, in addition to increased scholarship support, you may have technology access needs and health and safety measures to pay for. Put them in the budget and point your annual giving marketing toward these compelling, yet budget-relieving, needs.
Use the campaign logic: “Top-down, inside out.” Solicit trustees, annual giving volunteers and your largest annual donors first. Don’t spare the personal touch for the top 10% of your annual giving donors. They could make or break the year. Not all annual gifts involve a business reply envelope or a slick giving app.
You deserve something normal. Let annual giving be that for you; just don’t forget about it. We are already a month into most fiscal years. Be confident that you can let the beat play in the background; just jazz it up a bit.
When you are tired of worn out music metaphors and just want to focus on increased revenue, call me.
In the meantime, Download: 3 Things Every College President Should Know About Fundraising.
…and please share this post with another current or aspiring Development President!
With over 25 years of education leadership experience, B. David Rowe served as the president of Centenary College of Louisiana and of Lake Highland Preparatory School after holding senior level positions in university advancement and strategic planning. He currently advises college leaders and trustees as a senior consultant with the Association of Governing Boards and as principal at The Development President.