The Power of Referrals in Fundraising
The Power of Referrals in Fundraising: Building Your Support Network
Introduction
Unlocking the secret to successful support raising can be challenging, especially when resources are limited. However, there's a valuable strategy that often goes unnoticed – the art of seeking referrals.
In this blog post, we'll explore why referrals are crucial for building your team of ministry partners and how they can transform your fundraising journey.
Referrals Over Money: A Paradigm Shift
When it comes to support raising, it's time to change our mindset. Instead of solely asking for money, we must also focus on asking for referrals. If our goal is to tell more people about what the Lord is doing and invite them to participate, then asking for referrals and expanding our network is necessary to support raising. This strategic shift can be a game-changer, connecting you with a broader network of individuals who believe in your cause and want to be a part of your impactful work. In fact, I've relied on raising referrals more than asking for money in almost every meeting. Raising and connecting people with your mission will take you further than simply asking for money ever will.
The People Raising Mentality
I stumbled upon a book called "People Raising" by William P. Dillon early in my support raising journey. It emphasized the importance of raising up people, not just money. The idea that a community of like-minded individuals can achieve more than any monetary amount became the foundation of my fundraising approach. It marked the beginning of my understanding of the importance of raising your Tribe, a method that I now coach others on how to build for themselves. Referrals became the key to expanding this community and finding individuals who truly wanted to be a part of the ministry's work and were ready to support my mission.
The Trust Factor: Referrals Speak Louder
When someone refers you, trust and credibility come with it. People willing to refer you to their friends say, “I stand with you, and I believe in the work you are doing.” Endorsements add weight to your cause and make support meetings less complicated and more collaborative. It gives your current donors an active role in partnering with your ministry and increases their level of buy-in and conviction to your mission. You are not alone; you truly operate as a ministry team because you have an advocate. An advocate who believes in you so much that they are willing to connect you with their friend whom they believe will be excited to hear about what you are doing.
Building a Network of Equals
Referrals often connect you with individuals who share common experiences, professions, or convictions. This can be a strategic advantage when connecting with potential donors with greater understanding, resources, and vision. The person who offered to refer you is placing their relational connection to help you achieve your goals and connecting you to someone who they know will be eager to learn more about what you are doing. Use referrals to access this network and expand your reach.
Setting Goals for Referrals
Referrals should be an active part of your support raising strategy. Just as you set goals for donations, establish goals for referrals as well. Treat each meeting as an opportunity to grow your network, not just to secure financial support. Asking for referrals should be as normal and natural as asking for financial support in each meeting. Your enthusiasm to invite someone to partner with you both financially and through referrals should be palpable in your presentation. After all, you invite them to be a part of what the Lord is doing through your ministry!
Preparation and Strategy
Seeking referrals requires preparation and strategy, just as you have when raising support. Approach each presentation with a script, a clear goal, and a purposeful strategy to increase your referral base. Just as you know what happens after you make a financial ask, you plan to follow up and help people sign up. You need a plan to help your supporters think of referrals and connect you to them. Make it an integral part of your fundraising efforts, not just an afterthought.
Prayer and Divine Connections
Don't underestimate the power of prayer in attracting new relationships and opportunities. Trusting in divine connections can lead to unexpected support and partnerships that traditional networking alone may not provide. The strangers you run into at the gym, on the subway, or at the coffee shop may just become the biggest supporter of your ministry. You must be willing to initiate these relationships as the Lord brings them to you.
Conclusion
In the challenging world of support raising, referrals prove to be a powerful tool for securing financial support and building a community of advocates. Embrace the mindset shift, set referral goals, and approach each meeting with a strategy to secure more referrals. Your journey will not solely be about raising funds but about raising a community of people dedicated to your cause.
Mindset Shift:
Are you open to shifting from asking solely for money to actively seeking referrals in your support raising approach?
What challenges do you foresee in making this shift, and how do you plan to overcome them?
Preparation and Goal Setting:
Do you have a well-prepared script and clear goals for each meeting, asking for financial support and referrals?
Reflect on past experiences where a lack of preparation effectively affected your ability to ask for referrals.
How can you enhance your approach to integrate referrals into your fundraising goals?
