I started my post-secondary academic career at a local college in Calgary, Mount Royal College (which is now classified as a university). My faculty of choice was economics and business. That is not where I ended up. However, I have always had a keen interest in the psychology of human behaviour in business.

The latest, greatest thing in business right now is ABM, or account-based marketing. Basically, instead of trying to appeal to the masses, identifying high-quality leads who are more likely to become a buyer/client is the strategy. By focusing on one client and tailoring the pitch specifically to them, higher conversion rates are being achieved.

I’ve never liked the comparison of fundraising and sales because (in my opinion) they are not really the same at all. But more and more, the strategies and tactics used by business to garner the attention (and dollars) of our donors are looking familiar. Why? Because a fundraiser’s approach to getting a person’s attention so they will listen to what you’re selling or offering, works. And this is interesting because the flow of knowledge generally has gone the other way–from business (private sector) to fundraising (nonprofit sector). I always felt that the pendulum swung a little too hard into our sector, so it’s nice to see business taking a few tips from the social sector.

According to Jodi Harris, the basics of implementing ABM in a business requires three things: people-centric strategy, killer content and “stacked” technology, meaning you have the ability to integrate and target your communications. This sounds a lot like donor-centric fundraising, targeted communications, and a robust donor database solution to me.

ABM strategy also utilizes a deep dive into client (prospect) research to make sure the ask is aligned to client needs. But further, it demands a level of personalization that involves getting to know the client on a deeper level to be successful. All of this results in a “wow factor” ask for an opportunity to make the pitch. Why go to all that trouble? Because it works. Because it gets you in the door and the conversion rates are higher. Significantly higher.

How can you use this in your nonprofit organization?

This is particularly applicable in corporate sponsorship and giving but the principles are still relevant in all your approaches to fundraising, including major gifts. Face-to-face is always going to give you your best result, and doing your research to show your prospect that you’ve invested time to get to know who they are and what’s important to them (as a person or a corporation). Putting the right project in front of them that they’re passionate about is key and should come out of the research.

Targeted engagement is another foundational principle in ABM marketing, and it’s vital in fundraising as well. Keeping your potential clients and prospective donors engaged in what you’re doing through tailored, targeted communications is crucial to retention rates over the long term. Closing the deal isn’t the end of the sale and neither is closing the gift.

This is why it is a must to have a robust donor database solution or customer relationship manager (CRM). Both tech tools will increase and refine your interactions with your clients or donors, with reminders, succinct info all in one spot, and automations depending on the parameters of the software.

I’m not sure who came to this strategy first. I want to say it was probably Jerold Panas in fundraising. The fact that it’s being utilized now in business gives further credence to the strategy and principles used in major gift fundraising; know who you’re talking to, know what they want, match your offer to what they want, and then don’t be afraid to ask. Or, as they say in the sales world… close the deal!

Michelle Harder has over 25 years of experience in fundraising and nonprofit development as a consultant and as part of an executive team. With a Master of Arts degree in Philanthropy & Development from Saint Mary’s University in Minnesota, Michelle has both theoretical and practical experience in fundraising. With a focus on small shop and faith-based fundraising, Michelle is driven by a passion to help organizations achieve their fundraising and strategic goals. As a consultant, public speaker, and author of “The Definitive Guide to Faith-based Fund Development,” Michelle has the expertise to help you raise the funds you need.