Maximize Your Matching Gift
Matching Gift direct mail appeals are among the most successful fundraising campaigns you can try as an organization. Donors love to give to them, and they raise a lot of money. But that first, large mid-major donor leadership gift to serve as the match and motivation for others to join in may be intimidating. As a busy fundraiser, you may be tempted to say, “No thanks, a matching gift appeal is too much work.”
Today we want to challenge that “it’s not worth it” mentality and show you why this direct mail strategy is so important, give some tips and tricks to maximizing them and provide ideas on how to garner that mid-major donor leadership gift.
The Power of the Match
Matching Gift campaigns work. You know that. We’ve seen it time and time again. Matching gifts provide the donor with a sense of validation. They know the project is credible and already supported by key individuals or businesses in your community. And the idea of “doubling your gift” gives some added incentive and momentum to the project. It provides a deadline for maximum impact!
This works beautifully in both the direct mail and digital space. Messaging matters to both your general donors as they consider their response and as you reach out to mid-major donors to participate as your matching gift partner. Both want to see their generosity leveraged for even more impact. They want their gift to double!
Select a Focus
Your matching gift appeal will have a much better result if you have a focused project or outcome in mind. This focus can vary from programmatic to Capital needs.
Whatever you choose, it should be a project that is within your general operations budget and is not solely dependent on the monies you’ll raise from this appeal. Consider this appeal and strategy a “fundraising boost” to an existing budget line item.
I’ve seen a wide variety of ideas lead to successful campaigns: repairing much-needed walk-in freezers, providing after school programs/tutoring to homeless children, expanding shelter bed space, employment/educational programs for men, etc.
Given what your expected revenue is from this campaign – take some time to think about a project or appeal focus that fits within that budget goal. And, that donors will want to support.
Acquire the Major Gift
Once you have identified your project focus and what you think is a reasonable budget goal, it’s time to think about securing your major gift match. The size of the match should be reasonable given your overall project goal. For example, if your project goal is $25,000 – a match of $10,000 is reasonable. If your project goal is $100,000 – a match of $40,000+ is worth shooting for.
It is entirely appropriate to ask multiple major donors to give toward this effort. A collection of one $5,000 gift and two $2,500 gifts to reach a $10,000 matching fund is fine. There is nothing wrong with it. Don’t feel like the entire amount needs to come from one donor. That may not be realistic for you. And, that’s okay.
As you think about securing a major gift to lead the matching effort, here are a few tips:
Keep your project focus at the forefront of your mind. It should drive who you will approach. Will this donor be passionate about solving this particular problem? Is this an issue they are concerned about? If you don’t know the donor well, use this as an opportunity to talk to them a bit more about your work.
Look for a major donor who hasn’t given recently (within the past 9-12 months), or one who might be willing to give an additional gift.
If you are part of a mid-level prospect program, revisit your Top 100 donor list and your other prospect lists. Are there some names you recognize and want to engage on a deeper level? Donors you’d like to get to know, but have not had a good reason to call? Now is the time! Matching gifts are a wonderful way to upgrade mid-major donors!
Don’t overlook your board members or volunteers. If they’ve given before, approach them directly. If not, then consider a general request to your board or key volunteers.
Consider businesses or corporations in your community. This opportunity may serve as a nice way to increase their financial engagement.
Review recent major gifts. Is there a donor within that group that would be interested in leveraging their gift toward your chosen project? This wouldn’t be a true match, but could be positioned as a “challenge.” Look for new opportunities first. Use this idea only if you need to.
Once you have a few individuals in mind, think about how you want to approach them. A phone call may be all you need. It may be helpful to put together a short email or written summary (think one-page case statement) you can send out following your call. However you make the connection, be sure to:
Share how their match will allow the Mission to do more.
Emphasize the fact that they will inspire others. Share the overall financial goals for the project and campaign. And how their gift is essential to reaching them.
Talk about the direct mail and digital campaign strategy, timeline and anticipated revenue. Share previous success. Or, share that you’re trying something new!
Provide concrete benefits to your community and concrete benefits to those you serve.
Mid-major donors are interested in long-term benefits. Be sure to tell them how this investment will help the Mission in the long run. How it will impact individuals and families for generations.
Share how their gift will allow you to do something that is unique. Something that you could not do without their support.
We recognize that leveraging a matching gift will be some leg work. But we also know the end direct mail campaign result is worth it!
If you have questions about a matching gift or would like more information on how you can add a matching gift into your fundraising plan, shoot me an email at jbivens@mdmfundraising.com. I’d love to talk with you!
By Jennifer Bivens
Bivens is a Senior Strategist & Vice President with MDM Fundraising. She has been with MDM since 2018 and has a decade of direct marketing expertise in Rescue Mission fundraising. Having served as Development Director for two large Missions, she understands the daily demands of leading an effective team to reach revenue goals. Bivens holds a Masters of Public Administration with an emphasis on Nonprofit Management. She is passionate about raising funds to equip ministries throughout the U.S. as they fight the root causes of hunger and homelessness. Jen can be reached at jbivens@mdmfundraising.com.