Here’s another action you can take — right now! — to help your fundraising efforts both short and long-term. As with my previous suggestions, in this and this newsletter, doing what I’m suggesting below is something that anyone on your team can easily do during this strange and challenging time. Worrying about events that aren’t happening, or donors who don’t want to speak with you now, isn’t so productive — but working to shore up the foundation of your fundraising program is and will continue to be so.
The action I’m suggesting today relates to your “competition”. I know, I know, you have no competition because you’re the only organization who does what you do — or at least the only one that does it well. Or you don’t want to think about “competition”, because that’s a for-profit/business term and it doesn’t apply to you.
Not true. Even if you don’t want to think about “competition”, know that your donors — and potential donors — do. You may not have direct competitors, but you do have competitors for dollars (and even for time, interest, etc.).
I’ve had many meetings with professional fundraisers from highly regarded non-profits that ended awkwardly when I asked what I believe is a simple question: “Who are your competitors?” Coming from the business world, I thought that the silence that followed my question had something to do with that particular fundraiser, but then it happened to me with other fundraisers, again and again.
You absolutely have competition — of many kinds. It’s inexcusable, in my opinion, to ask donors for money without knowing where your organization stands in the vast sea of nonprofits. Every fundraiser should know the answer to the question “Who is your competition?”
So what is a nonprofit to do when it looks like the future is bleak, your fundraising goals and plans just got sidelined, and you need to continue your programs? There are many answers to that critical question, but one of them is simply to get stronger as an organization. In non-crisis times, there’s rarely enough time in a day to strategically assess, in an honest and objective way, where your organization is in the non-profit landscape. Again, that moment in time is here. Taking an honest look at where your organization fits in among others in your sector, as well as among others competing for the same dollars, is an important exercise that you can do now.
There are multiple resources online to help you do this, and one that I really like is from the Nonprofit Risk Management Center, called “Competition: A Risk Aware Definition”. I especially like the section called “Competition’s Rich Palette”. Competition, as many of you know, isn’t a bad thing. In this environment, it can be even a better thing than in usual times, as you might be able to ascertain where to focus your resources based on what others in your field are doing.
So take a breath, take some time, and really look at other nonprofits that are doing things similar to yours. Also look deep down to get a better understanding of what your donors might see as competition for their funding.
Long term and sustainable fundraising isn’t about a great tap dance at a lunch, or a cool graphic on a mailing. It’s about having an honest relationship with your donors, and saying that “we have no competition” just isn’t honest. If you don’t think that you have any competition, think again, and be ready, after this crisis is over, to answer the question.
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- Lisa