Benefits of Hiring a Fundraising Consultant
A fundraising consultant can bring an outside perspective to your nonprofit organization. They can help you develop a strategy, conduct a feasibility study or run a capital campaign. Before hiring a fundraiser, it is important to identify your needs and define them clearly.
Most reputable consultants charge by the hour or on a daily basis (based on eight hours). They do not work on commission, and there are safeguards to prevent excessive remuneration.
1. They can help you develop a fundraising strategy
Fundraising consultants have extensive philanthropic connections that they can use to help you plan and execute a fundraising event. They can also help you find in-kind donations and event space, which will save your nonprofit money. In addition, they can provide you with advice about the best management tools for your nonprofit, such as event software.
They can also help you develop a fundraising strategy that will move your donors up the giving ladder. For example, they can recommend that you offer matching gift programs. They can also help you find ways to increase your digital engagement with supporters.
When choosing a fundraising consultant, be sure to interview several candidates and ask for proposals. Review the proposals carefully to determine which one is best suited for your organization. Look for candidates who are open to modifying their strategies to fit your needs. This will ensure that you get the most out of your relationship with the consultant.
2. They can help you conduct a feasibility study
Conducting a feasibility study can help your nonprofit determine how well a particular project or campaign will be received by key stakeholders. Fundraising consultants are often the best people to lead this effort, since they’re not emotionally attached to your nonprofit and can be more candid in their interviews. Moreover, they’ll be able to identify potential major donors who might not have come to the forefront of your team’s minds.
Feasibility studies are also a great way to build awareness of a new campaign or project. As part of the study, your fundraising consultant will interview donors about their perceptions of your organization and its current initiatives. This will give your team a valuable understanding of your donor base, which will help you craft more targeted solicitations moving forward. Moreover, it will also allow you to identify any areas for improvement, such as improving your donor stewardship tactics. This way, you’ll be able to avoid the pitfalls that can make campaigns fail.
3. They can help you run a capital campaign
Capital campaigns are complex projects that often last several years and aim to raise more money than your organization has ever raised before. They can be daunting, but fundraising consultants can help. They can provide advice and guidance, conduct a feasibility study, and design meaningful donor experiences.
A good consultant can help you create a strategic plan for your organization, and can also train your staff on how to execute that plan. They can also offer data insights about your current operations, and can advise you on how to improve them.
When searching for a fundraising consultant, be sure to define your preliminary needs and draft an RFP before you begin interviewing candidates. This will ensure that your requirements are clear to the potential candidates and prevent them from submitting proposals that don’t meet your exact needs. Then you can select the candidate that best suits your nonprofit’s goals. This will save you time, money and energy in the long run.
4. They can help you train your board of directors
Having a fundraising consultant train your board is an important way to ensure that they are ready to support the goals of your organization. A good consultant will help them understand their role and the strategies that they need to implement, as well as how they can best work with other members of your board.
Look for a consultant that takes the time to get to know your organization. This will allow them to tailor their training to the unique needs of your nonprofit. In addition, they will be able to offer insight into the best ways to solicit gifts from your donors.
A good fundraising consultant will also provide you with strategies to help you train your staff. This can include providing staff with training in donor stewardship, which involves both knowing your supporters and showing them that you care. It can also include providing staff with training on how to use fundraising software tools.