Inside the Heads of Major Donors

Can you name 10 donors who gave you a maximum contribution last election? Have those same donors been just as generous this cycle? Do you know what motivates them to give to you? Strengthening your relationships with your major donors can put you over the top in fundraising performance and add donor consistency to your program. Holding on to your current major donor base can be tough, particularly if you don’t know what their motivation is in giving to you.
In political fundraising, not enough is said about developing a long-term relationship with a donor. Perhaps because the lifecycle of the average campaign is so short, planning beyond the horizon of an election cycle is simply prohibitive. For many organizations, the time element is so incredibly fast-paced that the opportunities for one-on-one relationship building just aren’t there.
Whatever the reason, we’re missing a key ingredient to fundraising success when we overlook opportunities to capture a relationship with a key donor. If you don’t understand what motivates your donors—and don’t build your pitch to them around that psyche—you’ll never see consistency in their contributions to your campaign. Here’s an approach I use to strengthen those relationships. It’s the shortest 101 class you’ll ever take to help you woo more major donors and keep them %uFB01nancially productive.
First, here’s what we know about major donors. They are motivated to donate or become involved in causes for four general reasons:
•  To get the results they desire. Their motivational style is known as a “driver.”
•  To gain prestige or in%uFB02uence. Their motivational style is known as an “in%uFB02uencer.”
•  To help others and promote unity. Their motivational style is known as a “stabilizer.”
•  To know the right thing to do and who will do it. Their motivational style is “cautious and conscientious.”
Each motivational style has a pattern to follow to make appeals, garner support, and get them involved. Building long-term relationships and knowing what motivates your best contributors is one of the most powerful concepts your campaign can invest in for its %uFB01nancial future. Your campaign’s timetable is less important than the prospect’s or donor’s timetable.
And remember, your best donors give to you because they feel a connection with you. Your job is to understand what that connection is and nurture it according the motivational style that %uFB01ts their psyche.   Todd Meredith is co-owner of Morgan, Meredith & Associates, a Herndon, Va. based political fundraising/ %uFB01rm founded in 1987. He has spearheaded the fundraising for Republican Members of Congress, associations, foundations and schools, orchestrating last year over 150 political fundraising events and 10 million pieces of direct mail.