Q: How do the tactics differ for Major Givers and lower dollar donors?
While major donors share most of the motivations of individual donors e.g. they might have a connection to the cause, they want to make a difference, there are 4 differentiating factors that can inform strategy.
1) A major gift is considered more as an investment. Thus, major donors pay close attention to the financial stability, effectiveness and efficiency of the charity that asks for their support. Major gift officers need to provide that information during the acquisition process. Once the gift is made, however, major donors don’t require to receive financial updates.
2) major donors are more interested in the difference they will personally make, rather than the usual “together we can…” pitch. Charities should emphasize their personal impact and adapt the language and offers accordingly to increase conversion.
3) Some major donors have an appetite to do more than just help financially. They might want charities to ask for their advice and involve them in various decisions. Find out your major donors’ preference and satisfy it.
4) Some major donors give out of a sense of responsibility towards less fortunate people. This group is more likely to give anonymously. Instead of offering expensive recognition offers to all major donors, find out their motivation and only offer it to groups that are open to it.
The above is a very crude summary; there’s a lot of literature on major donor motivations as well as the most effective ways to target them which can’t be easily summed up. I hope it’s a good starting point.
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