If you are working in the non-profit sector, eventually the time will come to plan major donor events. Major donor events are a significant part of donor acquisition and retention. Targeting events toward your current major donors is a great way to show appreciation and cultivate relationships.
There are several types of events that help propel donations, but the basic planning steps are the same. It is important to pay attention to detail and make the event memorable for both new and previous donors alike.
What is the purpose of the event?
The first step in planning major donor events is goal setting. The process of planning major donor events requires a strategy. Before you start drafting the event in your mind, it is important to decide what purpose this event serves.
Choosing the right event for the right donors is important in maximizing donations. Perhaps the purpose of this event is to raise awareness of your organization and interact with the community. An event like this is a good tactic for attracting new donors.
If you want to continue building a relationship with your current major donors, a cultivation event may be the best choice. A cultivation event is a tool for warming an audience for future asks, although there is no attempt at solicitation during the event. They generally have a casual networking atmosphere and are attended by donors, the executive director, and members of the board of directors.
Identifying your audience will help you plan your event. Do the donors know each other already? Can this be turned into a networking opportunity? Should there be a speaker to educate on the mission of the organization, or would this audience benefit from some other form of entertainment?
Understanding the purpose of the event and planning accordingly can help ensure the event goes smoothly and is enjoyed by those in attendance.
Budget
The next step in planning major donor events is determining your budget. Knowing this from the beginning is essential for understanding the scope of the event. If you are unsure of your budget, it is a good idea to consult with the board of directors.
When determining a budget for major donor events, the board of directors will consider the return on investment (ROI). Will this event attract major donors? Event budgets can vary widely, so ensure you know exactly what you have to work with before you start planning.
One way to reduce costs for major donor events is to ask for sponsorships. Working with partners to help fund the event can be a mutually beneficial arrangement.
When determining your budget, it is a good idea to break down the categories needed for major donor events. Allotting a specific percentage of the budget for categories such as food, decor, printing services, rental and venue fees, entertainment, and speakers will help ensure everything is covered.
Event Planning
Now that you have established goals and a budget, it is time to start planning your event. The executive director can play a direct role in the planning process, or they can designate a planning committee to disperse the workload.
Once you have determined the type of event, the next step is breaking down the tasks required to successfully host the event. Designate members of the planning committee for each task to make sure nothing is forgotten.
The planning committee will make decisions on the venue, event dates, vendors, and planning deadlines. If volunteers are needed for the event, it is important to designate a volunteer coordinator on the committee. This person will be responsible for all communication with volunteers and making sure everyone understands their role.
Promotion
One of the decisions made by the planning committee will be a promotion plan. There is a lot to consider here. Who is your audience? How can you best reach them? Will the event be accessible to the public? Should you pay for social media ads or send personalized invitations?
The promotion plan should be worked into the budget before you even begin making decisions. Deciding exactly how you will attract people to attend the event is vital to success.
Consider a creative invitation if you are targeting new donors to pique interest. Putting your mission and values front and center can help attract an up-and-coming donor audience. If you are targeting major donors, creating an atmosphere of exclusivity may be appreciated.
Host The Event
Hopefully, due to approaching your event with a solid plan and budget, your event will go off without a hitch. In the days before, check on reservations and vendors to make sure nothing has changed.
During the event make sure you try to interact with donors. During the event, you are a representative of the organization. Try to present yourself as professional yet relaxed. Engage in genuine conversations with donors, answer questions, and work on building relationships.
A lot of work goes into planning major donor events, so remember to enjoy the event as well! You have earned it!
Follow-up
A significant piece of major donor events actually happens after the event is over. This is a time to reflect on the process and the event. Did you meet your fundraising goals? Did you engage with new donors? Is there anyone that you need to pursue further and approach for major donations or planned giving?
Analyzing what was successful and what needed extra work can help plan better follow-up events. If there was anything you would have done differently, or if you had new ideas for speakers or entertainment, make notes that you can refer back to.
The Bottom Line — Major Donor Events
Major donor events can be a dynamic tool in your fundraising toolbox. Not only do they give you the opportunity to gain exposure for your cause, but you can also get to know donors on a more personal basis. Most importantly, however, is the collection of information. Major donor events can help you zero in on future major donors and narrow down the pool of potential planned giving donors.
Use the information gathered from each event to implement better future strategies.
