Soapbox Engage Blog

Funding for public and private universities is getting tighter by the day, and development offices at universities around the world are quickly learning to adapt to a new reality. Higher education fundraisers need to keep sharpening their donor cultivation skills to learn new ways to fundraise to support research and teaching initiatives

Internal research continues to find that fundraising for universities can be challenging and stressful, as donors often don’t consider investing in universities in the same way they think about donating to nonprofits or charities.

We’ve done our own research from the university development landscape, and have put together some critical best practices for higher education fundraising.

Benefits of fundraising for universities

Actively choosing to fundraise is not just about finding donors. In addition to receiving much-needed funds, there are other benefits a university can reap from the fundraising process.

Clarify vision and strategy

To be successful in fundraising, you must be able to articulate your vision and develop an effective fundraising strategy. Investors are not attracted to weak visions or ideas without plans. People want to understand and become excited about a clear vision and help accomplish a specific goal.

Fundraising requires you to clarify why your institution (or department, nonprofit, etc.) exists and what you intend to accomplish. By articulating your vision and plans to donors, you clarify the vision for your employees, faculty, students, and everyone connected with the university.

This is a gift to your entire team. Humans need to understand what they are working toward and why. Don’t be surprised if incorporating high-quality fundraising strategies into your university brings new excitement, purpose, and passion to your team.

Fundraising success improves morale and opens new possibilities

Experiencing success in fundraising increases morale in your team and encourages people throughout the university. Fundraising success provides the sense that you are in control of the university’s financial destiny.

People involved in fundraising tend to be socially adept, outgoing, and generally positive. They are excellent additions to the university environment that tends to be analytical, realistic, and less sociable.

New income streams encourage and equip people to dream, expand research projects, and many other things that should be happening at institutions of higher education. Incidentally, these new projects inspire donors to invest money, creating a beneficial cycle.

University Fundraising Hacks

Here are some practical fundraising best practices that you should incorporate in your university fundraising.

Words matter

Communication is critical in nearly every situation in life. University fundraising is no exception. Whether you fundraise over the phone, via social media, online, or at an event, how and what you communicate matters. Excellent communication is the foundation of successful fundraising.

"You" is the most important word in fundraising. No matter when and where you speak to donors, place the focus on them. Clearly communicate the role they play in your efforts. Articulate how their money is working and what you are accomplishing as a result of their financial investment.

The second most important word in fundraising is "thank you." In every interaction with a donor, offer thanks for their partnership. Make gratitude and thanksgiving part of everything you do, not just after receiving money.

Use inclusive language like "our" and "we." Build a culture and attitude in your university that views (and treats) donors as if they are essential core members of the team--after all, they are! Invite your donors to see themselves as crucial members of your organization. Instead of thinking about your university or organization as "just something they support," your donors will take ownership. That way, investors will say, "our university," instead of "the university I support."

Steward your donors

Every donor--no matter how much they give--is essential and should be stewarded well. Stewardship is "the responsibility of overseeing and protecting something considered worth caring for and preserving." Your donors are precious and certainly worth caring for and preserving!

From the first gift to the last, donor stewardship is the process of cultivating a valuable relationship between you, the university, and the donor. Nurturing the relationship with your donors is beneficial for everyone and increases your donor retention rate.

Create a plan to care for and steward all your donors, from the smallest to the largest. As you steward your donors more effectively, you might even notice an increase in giving.

Demonstrate the impact

All donors ask the same question: "what did you accomplish with my money?" Universities and nonprofits publish endless reports, charts, statistics, and articles to answer that question.

It’s essential to demonstrate the impact your investors are having on your university or organization. People are story-oriented. They want to know the end (or at least the next chapter) of the story. There are many practical, fun, and easy ways to help your donors understand the impact of their financial gifts.

• A picture is worth a thousand words

  Include photos in your updates and on all your social media accounts. Include short videos. Allow your donors to see and visually experience the impact of their investment. If they gave to a scholarship account or a research grant, share photos of students and faculty who received the funds. Offer pictures and explanations of what the individuals are doing as a result of receiving the much-needed resources.

• Schedule site visits

  Photos and videos are compelling, but they are no match for inviting donors to come, see, and experience the fruits of their investments. Invite your donors to see for themselves what you are doing with their hard-earned money. This doesn’t need to be a big production (in fact, many donors actually want to experience an average "day in the life" instead of the polished and organized receptions).

• Arrange strategic chats

  Arrange for investors to chat with one of the people who benefited from their gifts. It can be as brief as a 5 to 10-minute informal "interview." Donors enjoy putting names and faces to their investments, and they relish the opportunity to ask questions and understand your work.

Make donating easy

Make giving to your university easy and intuitive. Remove as many "barriers" as possible, so people are more likely to donate.

Add a donation form or link on various pages of your website to make it easy to discover how to give. Purdue University has a prominent "give now" button at the top of their homepage and a smaller (but easy to identify) "give" link in the navigation bar on all other pages.

Make sure your giving pages and online forms are mobile-friendly. People often use their smartphones for research and online transactions. While major donors probably aren’t giving thousands of dollars via your online forms, countless small and mid-size donors will prefer this giving method.

Use software that allows you to accept online donations via customizable donation forms. Make sure your donation page matches the theme of your giving campaign and your university. This reassures donors they are in the right place and helps streamline the process.

To survive and thrive as governments around the world reduce funding, universities must learn to adapt and invest in their fundraising strategies. It’s essential to become successful at attracting and stewarding donors of every level.

Are you ready to take fundraising for your university to the next level? Here are three more resources to get you started.

• 5 Ways To Boost Your Wording When Asking For Donations: As we said before, your words matter! Here are some simple but powerful ways to improve how you ask for donations.
• Peer-to-Peer Fundraising: What You Should Know and a Quick-Start Guide: Peer-to-peer fundraising can be a valuable tactic to mobilize alumni to give to their alma mater! Learn about how to run a successful P2P campaign.
• How To Plan A Fundraising Event: The Complete Guide: Many universities host successful fundraising galas and events on campus to attract major donors. Learn how to plan a major fundraising event that will accomplish your specific goals.