8 Proven Strategies to Close Major Gifts

The most critical time in the fundraising process arises after you’ve made the ask for a gift, as you try to secure the commitment. At this point, you may encounter objections, excuses, and delays from the donor, and perhaps even some hesitation on your part as the fundraiser. Successfully navigating this terrain is essential to securing a signed gift commitment. Below, we present eight strategies to guide you through this process:

1. Leverage Deadlines: Utilize specific deadlines as a powerful motivational tool for donors. Incorporate deadlines in various scenarios, such as campaign goals, program support, faculty recruitment, or endowed funds. For example, “Booking your gift before the Mumford University campaign ends will help us reach our goal.”
2. Leadership Influence: Tap into the influence of highly respected individuals on campus to reinforce the importance of the donor’s gift. A personal call or email from the university President, emphasizing the significance of their contribution, can be remarkably effective.
3. Promote Peer Giving: Highlight the participation of well-known prospects within a targeted group to encourage others to follow suit. Request that potential lead donors set an example and even consider using their gift as a matching incentive. For instance, “I need your gift as an example to inspire other alumni to contribute because they know and respect you.”
4. Special Announcements: If the prospect is planning to visit campus or attend a significant event, use this occasion as leverage. Suggest that it would be ideal for them to announce their commitment during their visit or at the event.
5. Market Performance: If you are aware that the prospect intends to make the gift using appreciated stock, leverage the stock market’s performance to your advantage. If the market is performing well, encourage them to maximize their impact while the market is favorable.
6. Tax Incentives: For donors motivated by tax incentives, reinforce the precise benefits they will receive. Emphasize the advantages of making the gift before the end of the fiscal year as a compelling deadline incentive.
7. Pledges and Flexibility: If the gift size poses a concern, present the option of spreading the commitment over a period of up to five years. Offer alternative ways to contribute, such as using stock or exploring other planned giving options. Highlight the non-binding nature of gift agreements, reassuring donors that they have flexibility.
8. Stewardship Emphasis: Address concerns about post-gift interactions by outlining a comprehensive stewardship plan. Specify the ways in which you will stay in contact and engage with the donor after their gift, such as arranging meetings with scholarship recipients or other meaningful interactions.

In summary, fundraisers must possess the strategic prowess to motivate prospects to commit to a gift. While making the initial ask is relatively straightforward, ensuring the prospect follows through is the challenging aspect of the fundraising process. Success hinges on a deep understanding of the prospect’s motivations and a keen awareness of the resources available at your university. Mastering the art of closing the deal in fundraising is a skill that separates effective fundraisers from the rest.

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