For many charities and social enterprises in a tight financial position, it's the classic dilemma. You need to invest in fundraising, perhaps to replace dwindling income from other sources, but have less disposable cash than ever. So building the case for investing in fundraising – whether that means a new staff member, hiring a consultant or increasing your marketing budget – isn’t easy. Particularly when it involves dealing with management or trustees who may know less about fundraising than you, and are naturally risk averse. If you were asked to put together a robust and convincing case for investing in fundraising, where would you start? How would you address people’s concerns? Here are our top tips: 1. Show how fundraising success would boost your overall mission When I'm working with an organisation on their fundraising strategy, I initially ask two questions: Why have you decided to focus on fundraising? What do you hope to achieve through successful fundraising? Many organisations set ambitious goals for their project work, but fail to show the same fundraising ambition. But the two things are inextricably linked – if you’re trying to double the number of people you help, or move into a new region, you'll likely need a step-change in fundraising. So try to make people focus on how much more the organisation could achieve if it raised more money. You’ll stand a better chance of convincing management and trustees to make the investment needed. 2. Educate people about your current fundraising efforts I’ve worked with organisations whose CEO or trustees have been genuinely surprised by how much they’re raising in certain areas, or completely oblivious about simple blockages that are holding back fundraising. However, people will make better long-term decisions about fundraising if they understand this properly. Inspire confidence in your future plans by emphasising which areas are already proving successful, and which ones have the potential for a drastic improvement with a little more investment. 3. Show the long-term financial return… Investing in fundraising never yields an immediate return. Encourage trustees and management to consider the bigger picture by modelling your return on investment (i.e. how many pounds you raise per pound spent) over 3-5 years. Fortunately, there’s a way to do this that doesn’t involve plucking figures out of thin air. Check out the excellent Gimme Gimme Gimme guide by nfpSynergy, which outlines 12 different types of fundraising and provides average return on investment figures (based on a sector-wide survey) for each. You can then adjust these benchmark figures slightly, depending on where your own fundraising is stronger or weaker. While this guide is several years old, it still provides the most up-to-date figures that we're aware of. If you’re investing in an area of fundraising for the first time, assume a more conservative return on investment in the first year while you get things up and running, gradually increasing over several years. 4. …but don’t make promises you can’t keep If you’re persuading your organisation to take the plunge and invest in fundraising, it’s tempting to promise the world. But over-ambitious projections will only cause disappointment and financial problems later. If you’ve taken a methodical approach to forecasting return on investment (see above), stand firm and don’t allow other people to push you to unrealistic levels. Don't just say what is necessary to win their support. In my experience, many organisations confuse fundraising targets with project budgets. Just because your projects and running expenses will cost £150,000 next financial year, you can’t necessarily expect to raise £150,000. That’s a bit like assuming you'll come home to a full fridge, just because you’re hungry. Ultimately, to avoid going hungry, you either need to make time to cook (i.e. ringfence existing staff time for fundraising) or buy something ready to eat (i.e. pay someone else to do the work). Your fundraising projections must be based on what you put in, not what you need to get out. 5. Emphasise the risk of not investing, to balance up the risk equation
For risk-averse trustees, certain questions weigh heavy on the mind. What if we recruit a new fundraiser and they’re not up to the job? What if we spend more on fundraising but fail to generate more income? These are legitimate questions, but only part of the picture. Over the years, I’ve seen few organisations invest in fundraising and regret it, but plenty pay the price for standing still. Income can disappear remarkably quickly, for instance if you lose a statutory contract or a major event flops, but can take years to build up. So asking ‘what might happen if we don’t invest in fundraising?’ is equally important. It's helpful to highlight fundraising opportunities that you’re currently not able to capitalise on, or looming threats that you need to plan ahead for. This is about human sustainability too – if staff have been working extended hours to cover gaps in capacity, it’s vital to emphasise the human cost if this were to continue. 6. Choose the best way to present your business case Building your case can take a long time, but you might get just an hour of people’s time and attention to win them over. So finding the right format is crucial – should it be a presentation or a written report? Should you provide all the information on the spot, or ask people to read something in advance and come with questions? There’s no right or wrong answer. It depends on what you’re personally most comfortable with, and how your audience typically like to receive information (your CEO or Chair could offer some insight here). Don’t offer to do a long presentation if you’re not very good at them and think you’ll struggle to get the key information across. Don’t spend ages writing a long report if you know people are unlikely to read it. Some final tips for presenting things in the right way:
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