4 ways to raise more money at your next fundraising event
Make your next fundraising event truly memorable.
Your gala is sold out. The program is all buttoned up. Heck, you even have your post-event entertainment locked down.
Nonprofits host events — especially big gala events — for a number of reasons, but there are two that tend to percolate to the top of our checklist — share your story and raise money to support your cause.
Let’s assume your plan for sharing your vision at this event is rock solid. Here are four ideas for taking your next fundraising event from good to great.
Give it away
Even at a sold out fundraising event, there are usually a couple of open spots. Sometimes it’s a table or two … or three.
For many of your table sponsors, the easy part is writing the check. The hard part is filling the table. You can make their lives a lot easier — fill it yourself and steward some of your best prospects at the same time. Fired Up Fundraising’s Gail Perry talks about the value of those unfilled spots.
“If corporations purchase seats and do not fill them, then take the initiative and fill the tables with bidders who care about your cause,” says Perry. “Don’t let valuable seats at your auction go empty because of corporate tables that are not full.”
Take a look at historical trends with your event. Chances are you have a number of corporate sponsors that will typically leave a couple of open spots or might event donate back their entire table.
Create a list of those individuals — current donors or prospective donors — that you’d like to see at your next fundraising event. Have it at the ready to fill make sure each table at your next event is filled to capacity.
Or, consider bundling a couple of tables to free up a full table. Offer it to a friend to your organization and encourage them to invite friends they believe will be supportive of your cause. Don’t ask for the table sponsorship, it’s already paid for!
Take advantage of this opportunity. Strengthen key relationships and celebrate the amazing generosity of those people getting to know your organization for the first time.
Well look, we have one more …
The live auction is a great vehicle for adding to the bottom line at your next fundraising event. Stoke the competitive fires of your attendees and in the process raise essential dollars to support your important work.
You know your crowd and you know what they like. As you are rounding out the items for your next live auction, go that extra mile for those items that you know are going to create a buzz as your next live auction draws near.
Do you have a unique experience that money just can’t buy … except at your auction? Did your auction committee find that exclusive auction item that no one has seen or heard about at other auctions in your city? Think you might be able to get two of them?
Create a buzz about your auction items through pre-event e-mail blasts, conversations among key donors that will be attending or not — think proxy bidding — in advance of the event. As the bidding starts to reach its crescendo, have your auctioneer ready to share that you actually have two of those items. Lock in both donors at that top dollar amount and double the impact to your cause.
Get it out of the way
Your attendees have had a couple of drinks, heard the inspiring stories and are now making their way through the meal. There’s a 300-pound gorilla in the room and everyone knows that it’s coming — the ask.
Comedy has the Rule of Threes. In fundraising, our unofficial event rule of threes tends to be silent auction, followed by your live auction and cap off the evening with your paddle auction. It’s a tough trend to buck, but if you want to add a little variety to your next event changing the sequence might be just what you need. New York Times’ reporter, Phyllis Korkki, suggests bucking the trend with the timing of your ask.
“Make your request for donations at the beginning or the middle of an event, rather than at the end,” says Korkki. “Once guests have fulfilled the purpose of the evening, they can enjoy themselves.”
You’ve added the element of surprise, now’s the time to up the ante — inspire increased generosity.
Lay down the gauntlet
Most people understand the primary purpose of your fundraising event — to raise money. Many of your donors come with a general sense for how much they will be giving that night. But are there ways for you to move the needle? Adding a challenge — or matching — gift opportunity could build on the momentum of an incredible night and have a positive impact on your bottom line.
Unfortunately, not all of your major donors are going to be able to attend your event. But that’s not to say that they wouldn’t be open to helping make it a great night.
If you are looking to incorporate a paddle auction — or request for outright cash donations — into your event plan, reach out to one of your major gift donors and see if they might consider a challenge or matching gift at one of your giving levels.
A great recognition opportunity — or opportunity for an anonymous donor — the challenge grant can help you maximize your request for outright donations. Ask a donor to match the first 10 donations of $1,000. Perhaps the first 5 at $5,000 … or maybe the first 10 at $10,000. Get creative and in the process inspire your attendees to stretch a bit further to support a great cause.
Planning is key to all of the tips listed above. Once you’re in the thick of your event, and deadlines are closing in, it’s hard to find that moment to think about how you can maximize the impact of your event.
But think about this, you’ve done all the work … what is the one additional element you can incorporate into your next fundraising event to take it from good to great.
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