Developing A Fundraising Strategy

By Localgiving

Your charity does amazing things, but are you maximising your fundraising to the best of your capabilities? 

To begin any of these steps it is important to be familiar with your organisation’s situation and what has taken place historically. It is important to develop a realistic fundraising strategy based on research, data and conversations with your network. Read on to see the specific steps you can take to develop your fundraising strategy.

The aims of a strategy:

  • A strategy should include realistic action plans, appropriate targets and knowledge of the systems, tools and training needed. The best fundraising strategies are simple and clear. 

  • A strategy should guide your organisation to the point where it is financially sustainable and able to continue its prominent work to the same and increased levels.

Key elements of a strategy:

  1. A number of short interviews should be held with senior staff and trustees.

  2. Desk research and an audit of your organisation can help identify the potential areas to cultivate new support. Examine the present strategy, your data and publicly available data.

  3. Any areas for potential risk or opportunity should be identified through a SWOT analysis.

  4. Ask the important questions of: Where are you now? Where do you need to get to over the next few years? What resources do you have available?

  5. Be mindful of which regulations apply to your fundraising activities, such as, Code of Fundraising Practice, General Data Protection Regulation (GDPR) and The Welsh Language Measure 2011.

  6. Undertake competition analysis. What are similar organisations doing, how are they funded and do they have any major upcoming fundraising campaigns?

  7. Understand the external challenges and opportunities for funding both offline and online. Focus on the potential to attract sponsorship and grants from individuals, institutions, businesses, trusts and foundations. 

  8. Once the market has been tested and obvious funding opportunities have been explored, you are ready to examine the internal factors required to deliver a successful campaign.

  9. Create a case for support and an elevator pitch that would motivate support.

  10. Plan out the best way to grow your supporter base and maximise their involvement.

  11. Complete a set of conclusions and outcomes at the end of the strategy. This summary will explain the best way forward with fundraising, based on the evidence collated and analysed.

  12. Present key recommendations to the whole staff/ volunteer/trustee team, keeping them closely informed. Allow challenge and feedback before the recommendations are concluded.

  13. These recommendations can then be used as action points to put in place and maintain. Set targets and develop a calendar of activities to track and assess your progress.

  14. Your strategy should be reviewed regularly and shared with your supporters at your AGM.