Account-Based Marketing or Major Gift Fundraising?

I started my post-secondary academic career at a local college in Calgary, Mount Royal College (which is now classified as a university).  My faculty of choice was economics and business.  That is not where I ended up.  However, I have always had a keen interest and stayed tuned into the business world even if it wasn’t my profession. In the end, it was the psychology of human behaviour in business that interested me more. 

The latest greatest thing in the business world right now is ABM, or account-based marketing.  Basically, instead of trying to appeal to the masses, identifying high quality leads who are more likely to become a buyer/client is the strategy.  By focusing in on one client and tailoring the pitch specifically to them, they are achieving higher conversion rates. 

I have never really liked the comparison of fundraising and sales…because in my opinion, they are not the same really at all.  But more and more, the strategies and tactics used to garner the attention (and dollars) of our donors and clients are looking more and more familiar.  Why?  Because they work.  They work to get a person’s attention and make them want to listen to what you’re selling or offering. 

This is interesting to me however, because the flow of knowledge generally goes the other way…from business into fundraising.  And I personally always felt that pendulum swung a little too hard into our sector initially.  So, it’s nice to see business taking a few tips from the social sector.

According to Jodi Harris, the basics of implementing ABM in your business requires three things: People centric strategy, killer content and ‘stacked’ technology…meaning you have the ability to integrate and target your communications.  Sounds a lot like donor centric fundraising, targeted communications, and a robust donor database solution to me. 

How can you use this in your non-profit organization?

This is particularly applicable in corporate sponsorship and giving.  But the principles are still very relevant in all your approaches to fundraising including major gifts; face-to-face is always going to give you your best result, and doing your research to show your prospect that you invested some time into getting to know who they are and what’s important to them (as a person or a corporation).  Putting the right project in front of them that they’re passionate about is key and that should come out of the research.

Targeted engagement is another foundational principle in ABM marketing, and it is vital in fundraising as well.  Keeping your potential clients and prospective donors engaged in what you are doing through targeted communication tailored just to them is crucial to retention rates over the long term. Closing the deal isn’t the end of the sale and neither is closing the gift. 

This is why it is a must to have a robust donor database solution or customer relationship manager (CRM).  Both tech tools will increase and refine your interactions with your clients or donors, with reminders, succinct info all in one spot, and automations depending on the parameters of the software.

I’m not sure who came to this strategy first. I want to say it was probably Jerold Panus in fundraising.  But the fact that it’s being utilized now in business, I think gives further credence to the strategy and principles used in major gift fundraising; know who you’re talking to, know what they want, match your offer to what they want and then don’t be afraid to ask … or as they say, in the sales world… close the deal!

Michelle Harder has over 25 years of experience in fundraising and nonprofit development as a consultant and as part of an executive team. With a Master of Arts degree in Philanthropy & Development from Saint Mary’s University in Minnesota, Michelle has both theoretical and practical experience in fundraising. With a focus on small shop and faith-based fundraising, Michelle is driven by a passion to help organizations achieve their fundraising and strategic goals. As a consultant, public speaker, and author of “The Definitive Guide to Faith-based Fund Development,” Michelle has the expertise to help you raise the funds you need.