Taking the fear out of next year: Tips to help your strategy planning process
Strategy. It can be a scary concept. More art than science, setting out on a strategic planning process can be overwhelming at first – particularly when you’re working in a post-pandemic world. But having a clear strategy is key to successful fundraising. It gives your team focus, clarity and direction. It unifies thinking and mobilises action towards a series of attainable goals. Your strategy is your rudder. A tool to make sure everyone is pulling together in the same direction and that the compass is pointing to future growth.
As we come to the end of the year, we know that strategy planning time is nigh. So we’ve put together some handy tips to help the process run smoothly.
#Tip 1: Take a breath
Does anyone else feel like these past 18 months are a blur? We’re not quite sure where the time went, but between lockdowns and well, lockdowns, all of a sudden 2022 is upon us. Our advice? Take a breath and make sure you give yourself the time and space you need to reflect and plan. We are all so busy working fundraising wonders that it’s hard to find the time to take stock. But it’s essential. Without it, you will plough headfirst into the new year without giving yourself or you’re your team the chance to reset and refocus.
#Tip 2: Remember why
Good fundraising isn’t about persuasion, it’s about inspiration. That goes for your team too. Fundraising is more than just a job. It’s a vocation, and you need to keep that spark alive. So when you set out on your strategic planning process, be sure to build in some time to remember your why – to share the good news stories that bring it all home. If you can, why not use this time to make a few donor phone calls, or to put a call out for case studies, testimonials and success stories? Not only can you scrub a few items off your ‘to do’ list, nothing will motivate your team more than the voice of those who are closest to you.
#Tip 3: Play the long-game
Fundraising has been, and always will be, target driven. But don’t let short-term aims undermine long-term ambition. From the moment a donation is made, it’s about lifetime value, and you need to make sure this is reflected in your planning. Don’t budget for miracles. Yes, you need an annual plan – but you should also be thinking two, three or even five years ahead. Work with your team to set a vision for your short, medium and long-term future. Be ambitious, but be realistic. Give each fundraising stream the time, space and resources it needs to grow.
Tip #4: Let data light the way
If knowledge is power, then data is your guiding light. When it comes to fundraising there’s always friction between ‘Research-led’ and ‘Organisation-led’ planning (strategies that draw on data and trends, versus those that mobilise top-down ambition). Each has its merits, and you need to find a balance. Talk to your board and senior management team. Look at the numbers and use your data to find out what worked and what hasn’t. It doesn’t matter if a project or campaign was off-target. It’s how you respond that’s important. Learn from the past and focus your fundraising strategy on the channels with the most growth potential (and data to prove it).
#Tip 5: Look out the window
It would be great to have a Magic 8 ball right now, but the reality is we don’t know what the future holds. If COVID-19 has shown us anything, it’s how easily fundraising is shaped by the events of the outside world, and the fundraising trends within it. As lockdown restrictions ease, digital innovation continues to boom. Cashless giving has surged, virtual reality is transforming the donor experience, and more and more charities are exploring the world of gaming. We are also seeing a shift from virtual to hybrid charity fundraising events, sure signs of digital fatigue, and a new space for direct mail. A STEEPLE analysis can help you keep track of the external environment, whilst a SWOT analysis is a great way to map upcoming threats and opportunities so you can navigate with and around them.
#Tip 6: Think partnerships
There is strength in numbers. So don’t develop your strategy in isolation. Involve your team, peers and colleagues. Share concerns, ideas and inspirations and work together to co-create a plan of action. If you can, why not take some time out to talk to other charities? Everyone has something to give and something to learn. Fundraising is a community, and if we work with rather than against each other, we can break the window of opportunity wide open.
#Tip 7: Stay focussed on relationships
It doesn’t matter if it’s with an individual giver, volunteer, major donor, corporate, trust or government. Fundraising is about relationships, and your strategy should remember each and every one. Asking for money isn’t a relationship. It’s a transaction. Use this chance to refocus your investment on the people that help make your work happen. You might not see the return immediately, but it’s an investment that will pay off in dividends.
Tip 8: Invest in your core
It might not be glamourous, but you can’t invest in innovations if you haven’t invested in your core. Once your strategic plan is in place, it’s time to think about what you need to mobilise it. Don’t be afraid to go back to basics and invest in…
- Your people: According to NCVO’s Research Briefing,52% of charities lack the specialist skills they need to realise their vision - including complex analytical and digital skills. This could have major implications for your new fundraising strategy. Yes, we’re getting loads better, but this year’s Charity Digital Skills Report still shows ‘digital skills’ as a major barrier to fundraising success.
- Digital infrastructures:Upskilling your team is fruitless if they do not have the tools they need to deliver. As The Road Ahead highlights, a lot of charities work with outdated tools and systems. A CRM is one piece of this puzzle. So is your website. But that’s just the start. Failing to invest in the right technology is a false economy that could cost you more in the long run.
- Core systems and policies: It’s 2021 and your fundraising techniques and strategies (and the policies that underpin them) need to foster openness, diversity, inclusivity and accessibility. Not sure where to start? The IOF and NCVO, have some strong guidance and background reading.
So there it is. It might seem terrifying, but by giving yourself the time and space to focus on your fundraising strategy, you can take the fear out of next year and make sure your team have the opportunity and resources to do more. Good luck!
Want to find out more about developing your fundraising strategy? There’s some great further reading with CAF, the DSC and Charity Fundraising Ltd.
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