The 90-10 Rule of Fundraising
Adhering to the 90-10 Rule is the best way to maximize your time and effectiveness as a fundraiser.
The 90-10 Rule: On average, 90% of the money that you will raise will be given by 10% of your donor base.
So where should you spend most of your time? With the 10% who give 90%, or the 90% who give 10%? The answer seems obvious, but it's really easy to lose this perspective and become consumed with reaching the masses. The larger group can efficiently be cultivated through direct mail/email and large events. Your target group requires more personal attention and communication.
The 10% who give 90% represent your major donors, and you should be building an intimate connection with these people in such a way that will enable you to establish a consultative relationship. That is, your goal is not just to ask for money. Motivated by your genuine interest in your major donors, you take the time to understand their background, interests, wants, and dreams so that you can create value for them.
Communication with your major donors should be personal and timely.
Handwritten thank you notes are a nice touch, but you should also involve this group in some of your strategy development. In other words, this is usually a talented group who can contribute some valuable insight regarding upcoming challenges and opportunities. You want to go to them with questions as well as answers. They will also feel important if you give them information before sharing it with the whole constituency. A little "heads up" goes a long ways.
