10 Ways Major Gift Fundraising IS Like Sales

Many fundraisers object to the idea that major gift fundraising and sales are similar or share similar characteristics. I’m not one of those people. Sure, one is selling a product or service that someone can consume or use and the other is selling something intangible. But that’s really only a product variation. It doesn’t mean the process is necessarily different. And I’ve got 10 reasons why I think they are incredibly similar. Even better…if you understand these similarities and embrace getting good at delivering on them, I can almost guarantee that you’ll raise more money for your cause!

1. Major gift decisions are driven by emotion, not logic. But what many people don’t understand is that major purchase decisions (i.e., your home, your car, a new business, etc.), are also driven by emotion instead of logic. We use logic to validate our decision, but the key triggers to buy are all emotion-based, not logic-based.
2. Both sales and major gift fundraising are dependent upon building trust-based relationships. If your donor or buyer doesn’t trust you, you’ll never negotiate a gift or close a sale. 
3. Storytelling shortens the sales cycle in both cases because it engages the other party, again, on an emotional level.
4. Often the buying decision in a sale requires engaging multiple stakeholders who may have similar, but different points of view and goals. Winning the deal requires that you understand each person’s role in the engagement, that you appropriately engage them and address their concerns, their desires, etc., and that your solution addresses the various goals and needs of the buyers, both as a collective, but also individually. The best gift officers also understand that negotiating large, complex charitable gifts functions much the same way.
5. Successful major gift fundraising requires a high degree of intentionality, planning, and strategic thinking. The same holds true for complex sales efforts.
6. If a sales person doesn’t do the things that lead to getting meetings with prospects, they won’t close deals. The same is true for major gift officers. If they don’t make the calls, ask the right questions, and present opportunities that align with the donor’s goals and objectives, they won’t secure gifts either.
7. Buyers and donors make decisions on their timelines, not yours. As much as your boss might want to rush to a close, it’s not likely to happen.
8. The more the sales person or gift officer talks, the less likely they are to close.
9. You have to ask for it. One of the biggest reasons sales fall through is that the person selling simply fails to ask for the sale. They get right up to the edge, but can’t get the ask out. Sure, every once in a while they’ll have a buyer who is so motivated that they ask to buy, and therefore the sales person closes a few deals. But their productivity is never maximized if they don’t start asking for the sale. The same is 100% true in major gift fundraising. Too often we see gift officers build portfolios of people who love to go to lunch with them, talk about the great and important work of the organization they support, but then gifts only trickle in. It’s not because the mission isn’t worthy. It’s not because the donor doesn’t have the means. It’s because the fundraiser isn’t asking. Bottom line is, if we’re not asking, we’re not getting. 
10. In fundraising, as in sales, follow-up is critical. So many times I’ve heard stories of deals that fell apart (both sales and charitable gifts) because the fundraiser or sales person got discouraged after leaving a few voicemails or sending a few emails, so they gave up, only to find out the person gave a large gift or made a significant purchase elsewhere — because the other organization had a more effective follow-up plan in place. And they worked the plan consistently.