Displaying items by tag: Developing Major Gifts

by Haley Limo

This month, I’d like to build on Liliana’s article, “Your Marketing Budget is an Investment.” Just as investing in your marketing strategy is essential for success, so too is investing in your development strategy.

The saying, “You have to spend money to make money,” holds true, but why is it that many are reluctant to spend on development, especially when it directly drives revenue? After more than a decade in major gift development, I’ve seen firsthand that successful development teams consistently invest in both their strategy and the ongoing training of their staff.

Ask yourself:

• Are you sending your development team to fundraising conferences each year?
• Are they enrolling in relevant online courses?
• Are they staying up-to-date with best practices through reading and learning from more experienced fundraisers?

The most successful development officers I’ve worked with are always investing in their own growth. They read, write, and seek mentorship from others who have been in the field longer than they have.

Do you bring in an outside fundraising consultant annually, or at least every couple of years, to ensure your team is up to date on the latest techniques? Just as you prioritize continual education for your medical professionals and client directors, it’s equally important to invest in the training of your development team.

It’s common to see PRCs eager to send their medical staff to the latest conferences, hire consultants to audit client practices, and invest in director training. Yet, when it comes to investing in development practices, there often seems to be hesitation, particularly from boards and Executive Directors.

Just as your nurses need ongoing training to maintain their skills, your development team requires the same level of investment. Simply giving someone the title of “Development Director” doesn’t automatically equip them to succeed.

The average tenure of a development director at a nonprofit is just 18 months. High turnover is often a result of lack of support and education.

Development support can be as simple as finding fellow development directors for your director to meet with regularly to build community and teamwork. The best motivation and growth can be found in idea sharing.

(Personally, I have found any book by Jerry Panas to be some of the best training you can find!)

As budget season approaches at your center, be sure to allocate funds for consulting and training. Better yet, sit down with your development director and ask them what resources they need to be successful.

Practical Tip: Take advantage of the development resources Heartbeat offers, including our ongoing Finding and Fostering Major Gifts training!