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February 7, 2008 / Issue III
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This being the month of Valentine's Day, maybe it's time we pay attention to our other love interests...our donors! At the very, very beginning of a friendship lies the acquaintance stage, where you begin to find some level of interest and some degree of commonality between the people involved. This is the same process that launches a donor relationship. As that acquaintance gathers steam and everyone starts to find more in common, we enter the friendship phase-a phase of our relationship where we begin to show more of ourselves, risk telling our friends a little more about what makes us tick, and ultimately building a social covenant...a social contract of sorts. From a dictionary point of view, a covenant is a promise. It's a trusting understanding, like a vow between two friends, that is made public so everyone can see the elements of the relationship. People don't just jump into friendship-based covenants in a cavalier fashion. They dance awhile, test the proverbial waters, and then head in cautiously. Donors act in this same fashion. First they test you. Then, if all goes well, they come back for more. What's your organization's covenant with your stakeholders? What do you promise your donors in return for their support? How do you initially communicate this to your new donors? And most importantly, how do you maintain your promises, keeping them in a constant state of use? You can't just answer by saying, "Our mission is our covenant." That won't work any longer. Certainly, your mission is important. But what about your vision as well? Is that something that is refreshed and in constant use? How about measurements and impacts? Do you have them? Do you share these with your donors? When you have challenges or setbacks, do you also communicate them to your donors? Why not? You'd share personal challenges with your friends, so why not build a social partnership with your donors as well?
Dare I suggest that we are missing the boat when we don't treat our donor relationship like we would a cherished friend? Put forth our covenant, our promise, and build from there. Mario Capozzoli |