What key elements need to be included in any fundraising strategy?
I was delighted to be invited to ask a series of questions on my favourite subject, fundraising strategy, at #CharityHour on Twitter last week. The answers were so excellent that I will try and capture as many of them as possible in separate blogs this week and next. For more superb insight and answers to these questions, please get your ticket to the Fundraising Strategy Virtual Summit on 18 March, 2021!
What does fundraising strategy mean to you and what key elements need to be included in any fundraising strategy, regardless of organisation size?
1. liked this back to basics answer
#charityhour A1) Fundraising strategy needs to acknowledge charitable objects/organisational priorities, strategic plan, and then to identify long, medium, and short term campaign objectives.
— Nest + Grow (@nestandgrowcic) February 24, 2021
2. “how on earth…” made me laugh…
A1: A plan, what we’re going to do, goals, and how on earth we’re going to do it! #CharityHour
— ?Dominique Saks ? (@Dominique_Saks) February 24, 2021
3. Needs to fit the organisation size
From my side of things, it's aligning it with our digital strategy, & having clear goals & pathways to them. (Also, thanks for having me for my 1st #CharityHour!)?
— Cathie O'Farrell (@CathieROfarrell) February 24, 2021
4. Link to organisational strategy
A1 for me fundraising strategy forms part of the overall strategy and must be relevant to the size of organisation. As fundraising is so wide it could be anything from philanthropy , grants and trusts etc. Key element…audience and what you actually do..your charitable object
— Beyond Profit (@Beyond_ProfitUK) February 24, 2021
5. Tailor it to your organisation
It needs to be bespoke to the organisation, fundraising strategy isn’t a ‘one size fits all’. It should include any income generation your charity has, be that events, grants or legacies and everything in between. #charityhour
— Smile Foundation (@SmileF_Hull) February 24, 2021
6. End goal, pathway, options
#charityhour A1 funding strategy needs to have clear end goal and pathway too it – and in present times as much diversity of income options as possible (very tricky)
— Baby Basics (@BabyBasicsUK) February 24, 2021
7. What, how and in which order
What you want to achieve, how you’re going to do it and the order you’re going to do it in. It also helps if you can detail what you have in your toolbox that can help you stand out (resources, partnerships etc) and call out risks and dependencies. #Fundraising #CharityHour ? > https://t.co/mb1qeyntuW
— Donna White (@dmhwhite) February 24, 2021
8. Vision, targets and plan
I love simple strategies that lay out the vision, SMART targets & a plan for how they are going to get there. I see too many that have grand goals with no actions, no accountability and no capacity (budget or people) to make it happen. #charityhour https://t.co/w7T0V3JHGH
— Lucy Stone (MCIOF) (@Lucy_Stone) February 24, 2021
9. Check the sector outlook
If you’re doing your fundraising strategy, toolkit 1 is the charity sector outlook 2021. Grim, but opportunities for those who look for them. https://t.co/LZ6nGxg6pa https://t.co/1ONxoc8YF3
— Ian McLintock (@ian_mcl) February 24, 2021
10. Think about objectives, how you’ll do it, and how you can tell how you’ve done.
#CharityHour A1 Fundraising strategy is generating funds now whilst thinking long term to ensure survival. Key elements: objectives, SWOT analysis, monitor, review? https://t.co/IpJWSLIETU
— #CharityHour (@CharityHourUK) February 24, 2021
Thank you, Tahera, for inviting me on to #CharityHour. What a brilliant bunch of minds!
