The finesse of asking for more money

A couple of weeks ago, I wrote an article about how to write a thank-you letter to donors. Now, your objective is to get more money—from those very same people.

You may feel uncomfortable approaching previous donors, but it is actually a smart business move. They already know your business, what you represent and the value their donations provide. In other words, you don’t have to spend time just trying to get them to notice you.

Here are a few tips for successful follow-up communications with donors:

Wait

Ensure a few months have gone by before you hit donors up for more. The last thing you want is to appear greedy.

Acknowledge their generosity

Do not assume that all of your donors are sitting on piles of cash. Your donor could be a retiree with little to spare—so they may view their $50 donation as a lot of money. You are welcome to ask for more, but must always show appreciation for their previous donations…no matter the amount.

Tell them something new

An extra bonus to waiting a few months is that you will likely have something new to tell your donors. Perhaps your business is planning an exciting new program—one that their donor gift could go toward.

Use a soft call to action

What is the difference between soft and hard calls to action? Tone and wording. For example, instead of “Would you consider giving again?,” you could say “Donations from generous people like you help us achieve X, X and X. We would appreciate your continued support.”

Make giving easy

Attach your contact information so they can contact a specific person, who can facilitate the donation process. Or attach a form that the donor can fill out and mail back (don’t forget to include a self-addressed stamped envelope). Even better: consider creating a monthly giving program, if you don’t already have one. Monthly giving allows your business to receive automatic regular payments—much more practical to the donor, as well as to you.

In a way, one could draw parallels between asking donors for more money, and negotiating with mom and dad for more allowance. Above all else, your interactions must always reflect your appreciation for what they have already done. Once you’ve softened them up a bit, your chances of “getting more” will increase substantially.