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New Year’s Resolutions? No thank you!

How do you feel about New Year’s Resolutions? Do you keep them in your head? Write them down? Avoid them altogether? Kicking off The Intelligent Edge for 2024 is HBG Senior Consultant Jennifer Turner with a look at resolutions, and how to maybe even make them work for you. Happy 2024! ~Helen

Jennifer Turner

         Jennifer Turner

When I started brainstorming ideas for this blog post, knowing it was going to be published in the beginning of January, my mind naturally drifted to the topic of New Year’s resolutions and goals.

“This year, I’m going to be better at communicating with my gift officers.”

“This year, I’m finally going to get around to cleaning up our database.”

“This year, I’m going to make a point to proactively identify xx new prospects each month.”

Sound familiar?

However, research suggests the failure rate for New Year’s resolutions is said to be an estimated 80%, with most people losing their resolve and motivation by mid-February (U.S News and World Report).

Eighty Percent!!! This statistic has led to the creation of another holiday – Quitters Day – the second Friday in January, or the most likely day for people to give up on their new year resolutions (National Today).

So why would I encourage you to do something in which the odds of succeeding are so high against you? (Plus, that would make me a hypocrite….)

You see, I have always had an aversion to New Year’s goals. For one thing, the timing is actually terrible. I’ve finally gotten through the hustle and bustle of the holidays, and now I have to jump in to eating healthy and exercising regularly? Can’t I just let those holiday sweets quietly digest while I sit at my desk, easing back into the regular work routine, thinking about how long it is until the next holiday weekend?

Not to mention I’d hate to waste those New Year’s Eve leftover goodies just because I’m “supposed to” start eating healthy come January 1. Give me a break!

So, rather than come up with a list of resolutions that start January 1, I propose a new approach: try coming up with one new goal each month.

I see this as having many advantages:

  1. The idea of tackling one goal in January is much easier to adjust to (and thereby follow through with), than a list of many goals at once.
  2. New goals may emerge as the year progresses that weren’t relevant at the start of the year when you first made your list.
  3. And speaking of the start of the year, why should we limit self-improvement to only that time? Shouldn’t we strive for self-improvement all year long?
  4. Come year end, you can evaluate your success on 12 goals, rather than your failure of a handful of goals that didn’t make it past January.

The point is to continuously work on evaluating and improving yourself all year long. And worst case, if you should happen to fail to meet a goal, you can try again next month. Maybe you set the bar too high and need to modify your goal. Maybe you just need more time to be successful. Or maybe it was bad month and other, more important things came up that took precedence. Life happens, after all.

Meanwhile, don’t keep these goals to yourself. Communicate them!

Discuss each new goal (and your progress) with your manager regularly. Talk to your co-workers. Maybe they have similar goals, and you can help motivate each other. Maybe your officemates are competitive and will engage in friendly contests to help urge each other on. Accountability and competition can serve as great motivators.

New Year’s resolutions do not need to be viewed as the dreaded start-of-the-year exercise/ominous list of things that we will ultimately fail to do a month into the game. They should be looked at as an ongoing process to better oneself, whether it be at work or in your personal life.

Don’t limit improving yourself to the start of the year. Think of your goals as being fluid and evaluate them regularly. Congratulate yourself on the successes, but don’t be so hard on yourself with the failures. Discuss, modify, and try again. You have twelve months to work with, after all.

 

So, sit back, continue eating that leftover Christmas cookie, and take it one month at a time.

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Front Door Locked? Use the back door!

We just celebrated my colleague Jennifer Turner’s fourteenth anniversary with HBG (!), and one of the things Jen has become known for around here is her skill at tracking down hard-to-find information. In today’s article, Jen shares some of her tactics for finding contact information when the usual resources are less than helpful. Thanks, Jen! ~Helen

Jennifer Turner

Senior Consultant Jennifer Turner

Let’s face it – it isn’t easy getting a phone number for the likes of MacKenzie Scott (trust me, I’ve tried). I’m sure I’m not the only one who’s ever been given the daunting task of finding contact information for a famous philanthropist. It’s hard enough finding all their real estate assets, disguised under the names of various LLCs, let alone a direct phone number.

While it may be difficult reaching that donor directly, I am here to let you know that there is hope! Try reaching them through what I affectionately refer to as “the back door.” Below are some examples of alternative ways to connect your colleagues with those hard-to-reach prospects:

  1. Try to find the prospect’s personal assistant

Company websites usually just list the top executives, so you may need to dig a little deeper to find their assistants. I usually begin by searching the name of the prospect’s company in ZoomInfo’s “institution” tab. From there, I click on the list of individuals. Depending on the company, the number of names listed can range from a few to hundreds of thousands. I then sort this list by title, and scroll through until I find anyone whose title matches personal assistant, executive assistant, administrative assistant, etc. With any bit of luck, you will not only find the name of an assistant, but an email address and direct telephone number for them as well.

  1. Search within the prospect’s company’s website for “hidden” email addresses

Using an extension such as Hunter, you can quickly obtain a list of email addresses within a company’s website (note: Hunter offers a variety of subscriptions ranging in price, but even the free subscription gives you 25 monthly searches, so you won’t need to ask your supervisor to pay for another resource to have success with this method). Sometimes the email address will be accompanied by a complete name, and if you’re lucky, their title. Other times it will not. When I don’t have a name, I simply conduct a new internet search putting the email address in quotation marks. If/when I find the name, I can then run it through LinkedIn to see if I can obtain that person’s title. This method may sound a bit time consuming (which it can be) but has proven invaluable when I cannot find an email address for the actual prospect.

  1. LinkedIn

And speaking of LinkedIn, whether you have a paid subscription or use the free version (I use the free version), this can be a great tool for finding personal assistants. Look up the prospect’s company, then review its list of people. From this list, you can search employees by title, or you can simply scroll through the list of people to see if any titles are for an assistant. Once you have a name, you can then try to find their contact information in ZoomInfo or via an internet search. (Just remember that sometimes people hide their full names in LinkedIn.)

Of course, with these tips also come some hiccups…. 

Caveats

Sometimes there can be lots of administrative assistants. You can handle this a couple of different ways:

  • Include them all and let the fundraiser go from there.
  • Limit the ones you pass on to the fundraiser to those for which you have found an email address and a direct phone number.
  • Check to see if you can find the assistant’s location. Depending on the size of the company, the assistants may be scattered across various locations. Try to make sure the assistant’s name you provide is in fact employed at the same location as the prospect.

 

Outdated titles

  • People change jobs. Often. And sometimes information is outdated. Therefore, whenever possible, try to cross-check titles and companies to ensure the assistant is still, in fact, employed at your prospect’s company.

 

You simply cannot find an assistant.

  • It happens. When all else fails, try to give your colleague something. You may not be able to provide them with the prospect’s personal email or direct telephone number, but putting them in touch with a person whom they can refer to by name is the first step in getting them connected.

In conclusion….

 Don’t just give your fundraising colleagues a generic email (such as info@xxx.com) found on the main page of a company’s website, or their main business telephone number; take that extra step to provide your colleague with a specific name and a title, even if it isn’t for the intended prospect.

Chances are, they will have more luck speaking to an actual person this way, which can then lead to a future conversation with the desirable prospect. While it may be premature to expect an immediate call with the likes of MacKenzie Scott, there’s no harm in having an initial conversation with those connected to her. From there, you can let your colleague work their magic to get a meeting with a billionaire prospect.

 

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Avoid an Un-Eventful Fall Event Season

This week we welcome to the blog my colleague Jen Turner, who has been steeped in researching for (and planning!) virtual events this spring for clients and as a volunteer. She’s learned a lot (as you’ll soon see), and we thought it would be useful information for nonprofits large and small from a planning – and prospect development – perspective. Let us know if you have any other great tips! ~Helen

A few years ago at this time of year, I wrote a blog focused on the start of event season that included tips for creating helpful event bios. Well, things have certainly changed as we prepare to enter the fall of 2020’s event season. The current global pandemic forced many nonprofit organizations to cancel in-person events last spring. As the months go by and we continue to live in a socially distant world, organizations are now beginning to think about how they can restructure their usual events and continue to meet their fundraising goals, during a time in which it is still not deemed safe to participate in large social gatherings. Whether you work in fundraising or sit on a school’s PTO board, chances are you may be faced with organizing a virtual fundraising event this fall.

Here are some suggestions for how to host a successful virtual event:

  • Organize. Make lists. Delegate. Just because the event is virtual, does not mean any less amount of effort should be put into these initial planning stages. Recruit help the same way you would for an in-person event. Even though the event is virtual, many hands continue to make light work!
  • Once you’ve formed your planning committee, decide what type of event are you going to host. Designating an event as “virtual” is simply not enough. Will it have a theme? Maybe you want to have an online raffle. Or you could host a game night, such as a Bingo or trivia night. If you work in education, maybe you’d like host a virtual tour of a specific building on campus. Or your annual fundraising run could be turned into a virtual run or walk. Perhaps you want to stick with a more traditional approach, and host a presentation, speech, or program. Even though your event is virtual, the possibilities are still endless!
  • Now that you have decided on a theme, it is time to choose appropriate software for your event. This will vary depending on if your event is live stream, an auction, a race/walk etc. Consider hiring professional help. While it may be easy to forget that there was life before Zoom, not many of us can honestly say that we feel completely comfortable with such software, especially when major donors and big gifts are at stake. And if administration is reluctant to put forth the funds, remind them of the money that is already being saved in overhead costs.
  • Set a goal, just as you would for any event, but remember to keep it realistic. Don’t set your expectations too high, but also keep in mind virtual events tend to have fewer overhead costs. While you may have be paying for some professional help, you aren’t paying for food, venue, staff, etc. As your event progresses, keep attendees updated on the status of your goal. This will keep them engaged, excited, and hopefully motivated to give.
  • Market! Send invitations. Update your organization’s Facebook page and other social media accounts. Spread the word. Virtual events do not have geographic limitations, so open your database and send an email blast to as many people as possible. Some organizations have even used marketing virtual events as opportunity to bring humor to the current state of circumstances. For example, a Minnesota-based e-waste and workforce development nonprofit Tech Dump hosted a “Thanks for Not Coming,” virtual fundraiser. You can also entice invitees by reminding them how much more cost effective a virtual event is for them to attend, as they don’t have to buy a new dress or pay for a babysitter.
  • Make sure you ask/require invitees to RSVP or purchase a “ticket.” Although it may seem easier to have a public event and not track guests, knowing your attendees will help you to better prepare. Requiring registration will also make those who accept feel more committed (how many times have you opted to skip out of a virtual event at the last minute because you felt no one would really know if you were there or not?). Hold those who accept your invitation accountable; maybe even send out a personal “looking forward to ‘seeing’ you” reminder prior to event day. Once you know your audience, get out the event bio template and start identifying key prospects for development officers, board members, etc. to personally engage with during the event. Chances are, the extra attention given to a prospect during a virtual event will stick with them as they consider the amount of their donation.
  • Regardless of the type of event you are hosting, try to make it as interactive as possible. Allow for questions and answers via chat boxes. Take polls during a live stream. Ask attendees to raise their glasses for a toast at pivotal moments during the event. Depending on the type of software you use, you may even be able to have attendees break out into smaller groups for discussion. Whatever you choose to do, it’s important to keep them engaged throughout the event.
  • Follow up with attendees after the event, just as you would for an in-person event. This can include sending them a recording of the event and a thank you note for attending and/or donating. And don’t be afraid to send them follow-up surveys. Find out what was successful about the event, and what you can do better next time.
  • Remember to code those who attended in your database, just as you would for any in-person event they attended in the past. Perhaps you may want to make notes of any new details gleaned from engaging with them during the event. Or maybe they now need to be moved to a different stage in the pipeline.

Along with these tips come a few caveats as well:

  • Remember to check if there is a user limit on the platform you are using for your event. I can’t tell you how many “open” Zoom meetings I’ve been invited to, only to find that they closed after the first 100 people logged on.
  • Don’t overlook the importance of setting – just because you are virtual, does not mean your attendees want to see cluttered backgrounds. Treat lighting with equal importance.
  • Take care in making your invitee list. While I mentioned earlier that you won’t have geographic limitations, and can therefore appeal to a wider audience, perhaps you want the event to have a more intimate feel. In this case, consider making an exclusive guest list of top prospects (and market the event in such a way that they know they are in an elite group).
  • While you may not need to don your evening attire, remember that should you find yourself in front of the camera, you will want to look presentable and respectable. Sorry, but you’ll have to change out of your pajamas for this one!
  • Be conscious of your attendee’s time and attention span. While they may have been willing to give up a full evening to attend your event in-person, the interruptions and distractions of being at home may shorten the time they give you (remember how we discussed they weren’t paying for that babysitter?). Keep your timeline concise.

While virtual events will never take the place of seeing someone face to face, they can have their own benefits. For example, some organizations have already reported great success with their online events. The 4-H Legacy Awards gala scheduled to take place at the Ritz Carlton in Washington, DC last spring was converted to a Facebook Live 30-minute event. The event included remarks from a celebrity chef and its lead sponsor Microsoft, as well as stories about the four 4-H Youth in Action award winners. With over 50,000 Facebook views, the organization met its fundraising goal. Pancreatic Cancer Action Network of Las Vegas transitioned their in-person “PurpleStride” fundraising walk into a virtual event, where participants walked on their own while social distancing. On the day the “live” event would have taken place, they hosted a Zoom call to share the opening speeches. They exceeded their fundraising goal. It is easy to fall into the trap of thinking about what we can’t do these days, but these success stories give me, and hopefully you now as well, hope that something positive can come of this unprecedented situation.

Have you had any successful virtual fundraising events yet? If so, what type of event did you host? What worked (and what didn’t)? Do you have any events planned for the near future? Let’s share our ideas in the comments below.

And for more information on planning virtual events, check out these resources:

https://www.nonprofit.courses/virtual-fundraising-event-success/

https://www.wildapricot.com/blogs/newsblog/2020/04/14/virtual-fundraiser

https://blog.handbid.com/blog/changing-up-your-event-ideas

https://getfullyfunded.com/virtual-fundraiser-and-online-events/

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Prospecting 2.0

This week we welcome HBG Senior Researcher Jennifer Turner to the blog to discuss one of her favorite topics – prospect identification. Jen’s been working with a longstanding (and much beloved) client for over five years and the majority of her work over that time has been prospect identification. As a result, Jen is our go-to person on the team when someone wants some innovative ideas to break out of the same-old-same-old ways of looking for new donors. Here she shares three great ideas for you – do you have any to share with her? ~Helen

As I began thinking about a topic for this blog post and looked at my current list of projects for inspiration, I realized I was in the same position I was in when asked to write a blog post five years ago – immersed in prospecting! So, here we go with some more tips on finding new prospects, or, what I affectionately refer to as, “Prospecting 2.0.”

I was recently on a hunt for new prospects, but felt like I had exhausted the usual resources. I was tired of searching the Rich Register and combing through annual reports of organizations similar to that of my client. Having caught up on my alert emails (side note: setting up an alert for “million” AND “gift” can be one way to identify new prospects, just beware that you will be inundated with results and others may already be on their trail as well), I realized it was time to step outside the box of usual resources…

FINDING UNICORNS…

Then I remembered a session I had attended at the last April’s NEDRA conference titled “Lyft that Rocket Lab to the Improbable (all things “unicorn”) by Richard Horne and LaShawn Underdue. During this session, we learned that companies valued at over $1 billion are known as unicorns, and there are over 260 unicorn companies. A deeper look at the executives behind these companies can lead you to some hidden gems that may otherwise not appear on your typical rich lists (since these are private companies, salaries are not disclosed, and there are no stock holdings to report). Yet, I repeat – these are billion dollar companies! And some may be on the verge of going public – definitely worth adding to your alert list. So check out the executives at these companies and see where their philanthropic interests lay.

…and ANGELS…

Another vein  that may lead you to a gold mine of new prospects is the world of angel investors and the organizations they are affiliated with. While you may have already known that such organizations exist, have you ever taken the time to delve into the background of their members? You may be surprised by how many gems you come away with. While it may seem tedious, the payoff could be well worth it. If you don’t know where to start, check out this directory: https://www.angelcapitalassociation.org/directory/

On the site, the organizations are broken down by regions, which is great if you have a development officer traveling to a specific geographic area and looking to fill time with some new prospects.

…IN THE HEDGES

Another area I like to check periodically is the mysterious world of hedge funds. Like angel investors, these executives do not necessarily appear on any rich list because their hedge funds are considered private companies and therefore are not required to report salaries. That being said, we all know big money is usually associated with this field. If you need help getting started, search “hedge fund” and “New York” (or any city your development officer may be visiting) and see what results are returned. You’ll end up with a nice list of hedge funds in your targeted geographic area. You can quickly review the total assets of the firm (to ensure you are dealing with the ultra HNWIs), and then start looking at the top executives.

Again, this may seem a bit tedious, but I find it’s worth putting in the extra time to find these hidden gems, as opposed to relying on the top names that everyone sees on published rich lists.

These are just some of the ways in which I try to find prospects who may be flying under the radar. They may not appear on any wealth list (yet), but a quick look at the size of the company they are affiliated with (be it a unicorn company, through angel investing, or hedge fund affiliation) suggests the amount of money being exchanged. A deeper look into where these prospects may live (and the value of their home) or the size of gifts they’ve already made can confirm your initial hunch that they could easily make a six, and in most cases, even seven, figure gift.

These suggestions are meant to help you be proactive – don’t wait for your development officer to give you the criteria to search for new prospects. Trying thinking beyond the obvious HNWIs to find the unpublished names. While it may seem overwhelming at first, even spending a few minutes at the end of each day scrolling through the executives of unicorn companies, angel investors, and hedge funds can have huge payoffs. Your development officers will thank you for finding those new people who aren’t already being solicited!

What methods do you have for thinking outside of the box when it comes to prospecting?

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The Secret to Great Event Briefings

This week’s article is brought to you by HBG Senior Researcher, Jennifer Turner, who has a lot of experience (probably more than she thought she’d ever have!) writing event briefings. Lucky for us, she’s happy to share some great tips here. ~Helen

We have officially entered the fall season. School vacation is over. Our donors have returned home from their summer residences. And we are all settling back into the “normal” routine.

For many organizations, this means the start of event season. Perhaps you work in higher education and have an upcoming event for new parents, as well as Homecoming weekend. Or maybe your organization just wants to get in a few events during the fall months before the holidays start monopolizing everyone’s calendar. [Read more…]

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Setting lofty goals

If September makes you think about stretching outside of your comfort zone, learning something new, and doing something great for yourself and your organization, then Jennifer Turner’s guest post this month is for you. Read on for some great tips on measuring – and getting credit for – your impact. ~Helen

I did it!

At the mere mention of the term Return On Investment (ROI), some people start to shudder. You may ask yourself, Why would I want to create data driven parameters for myself that could potentially set me up for failure? What possible good could come from setting goals?

You may be afraid that if you do this, your organization could become so data driven, your manager will become obsessed with whether or not you’re meeting these new goals. But if you let fears like that get the best of you, you could be missing an opportunity to demonstrate your amazing value to your organization. [Read more…]

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