Sarasota Chamber Demonstrating Remarkable Results

From June of 2007 until June of 2008, The Greater Sarasota Chamber of Commerce, and Chamber President and CEO, Steve Queior, retained the services of STELLAR Fundraising to design and conduct a fundraising campaign for a bold new five-year economic & community development initiative called Sarasota Tomorrow which is designed to improve the local business climate, promote accelerated government spending on vital infrastructure needs, to launch a public information and education strategy designed to better explain the value and importance of the areas business community to the overall well-being of the greater Sarasota area, and to expand targeted business services.

The Sarasota Tomorrow initiative included a preliminary fundraising campaign goal of $1.85 million, at the campaign’s conclusion, over $2.3 million was raised by STELLAR Fundraising and the Sarasota Tomorrow Campaign Leadership Team!

Currently three years into the five-year initiative and Sarasota Tomorrow is now rewarding investors and the community alike with some truly remarkable results. A key element of the Sarasota Tomorrow initiative includes an Investor Relations & Retention function designed by STELLAR that is designed to help inform and retain program investors via ongoing ROI updates and other communiqués detailing just how their investment is performing. These three promotional pieces powerfully demonstrate how Sarasota Tomorrow Delivers!

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Kudos to Steve Queior and the Sarasota Tomorrow team for their outstanding results and for these “Best In Class” Investor Relations & Retention promotional ROI pieces – “These Sarasota Tomorrow program ROI pieces demonstrate to program investors in a clear, dynamic and very compelling way not only that their support is producing a significant ROI, but that their continued support will be used wisely to produce even greater results” said STELLAR Founder and CEO, Terry J. Cusack.

Free Investor Relations and Retention Tools From STELLAR

Keeping your program investors informed and confident that their money is being used wisely and effectively is vitally important to the ongoing success of any fundraising campaign and will help to minimize pledge defaults. In our experience, we have learned the following actions and strategies can significantly increase your investor renewal rates.

1. Establish a definite multi-year budget for investor relations and retention.
2. Make investor relations and retention a specific assignment for a key staff member, or outsource it and prepare a plan through efforts by a special team of staff, consultant(s) and/or appropriate volunteers.
3. Provide a “special investors” newsletter sent to investors quarterly, at a minimum. However, it need not be on a specific date, but sent out immediately when news of importance develops. Or quarterly, with “news flashes” as they occur to subsidize this outreach vehicle.
4. Consistently seek opportunities to treat program investors in “special VIP” ways. Invite them to ground breaking's (or the roll-out of your new branding materials, website, etc.) and grand openings and give them opportunities to meet those involved with both the business coming to town, and the Campaign Leadership Team.
5. Publish a thank-you roster of investors in the local Business Journal or newspaper and ask others to join the campaign (the search for new investors may continue over the program life cycle). Also, consider a full-page ad (via in-kind if possible) in local and regional print media. Recognize all investors equally and give importance to large and small investors equally.
6. On the anniversary of the program’s launch, issue a special commendation or memento of their participation in the program. (Plaque, Golf Balls, Mug, Etc.)
7. Host at least one annual investor meeting each year. Again, use your investor list as a VIP roster. Invite investors to special functions and, whenever possible, be sure to let them know they are being invited because of their special investor status.
8. Keep the names and faces of campaign and program leaders prominent (in newsletter’s and in your Directory) in all literature long after the campaign. Never let the program become stale and or identified more with staff than volunteers/investors.
9. When invoicing investors for pledge payments, always include a “hand note” from the campaign chair(s) expressing genuine thanks, gratitude and mention a few recent positive developments, including copies of clippings from the newspaper.
10. Consider holding monthly chairman(s) breakfast’s and invite 20 investors at a time to “meet the Chairman” and “learn what we’re up to, and so you can give us your feedback.” Any investors that don’t attend after three invites, the CEO or the Chair should to go see this person and make them feel special, and very much appreciated and needed.

Solid Investor Relations & Retention takes money, planning and scheduling. STELLAR has developed additional tools to assist you in this effort. Our statistical analysis shows that if you’ll do the above, you should expect to retain 96% or more of all pledges.

REMEMBER THIS: Major Investors have gone "above and beyond" for your program, so give them ALL "the care and feeding" (and special attention) they most certainly deserve, and likely want.

Transitioning from a Membership Dues to a Corporate Investment Model Can Boost Funding for Economic Development Organizations

Historically most economic development organizations that procured private sector funding did so by utilizing a membership-based model, like chambers of commerce and other membership services organizations.

A more recent private sector funding trend – led by forward-thinking and successful economic development organizations – has been to move from a membership model to a program investor-based approach. In doing so, these leading organizations have dramatically increased funding levels, developed more engaged volunteer leadership, begun generating greater long-term benefits for their communities and, in general, become more focused, measurable and accountable.

The membership model typically charges annual dues at specified levels. Its implication is that the business will have "joined" an organization, will receive "services" in exchange for the dues and will be "supporting" a worthwhile mission. Funding levels in this method are naturally limited; companies do not generally want to pay big money to belong to an organization, no matter how worthwhile it may be. Networking events, newsletters, and other perks are only worth so much and are often provided by other organizations in the community.

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Opportunities - Join The Growing STELLAR Team

Interested in learning about joining the growing STELLAR Team of experts that come from varied backgrounds such as fundraising, economic and community development, politics, nonprofit management, legal, business, banking, Chamber and EDC work and other fields?

To learn more about exciting and rewarding careers opportunities at STELLAR Fundraising Executives, Inc. CLICK HERE!

What great things could your organization do with two, three or four times more budget?

In less than 12-months, the STELLAR Fundraising team can design, test and fund a bold new program for your organization!

STELLAR provides comprehensive fundraising management services to economic and community development organizations across the country. We can help your organization devise and capitalize a bold new program that will dramatically improve the impact of your organization on the future of your community.

We have developed a PROVEN process and system responsible for raising hundreds of millions of dollars for organizations in communities both large and small.

To receive your free STELLAR Info Kit, email us at info@stellarfundraising.com or call us toll-free at 888-897-4667 to discuss what good things you could do for your community with two, three or four times more budget!

In the meantime, please be sure to check out our interactive web site at www.STELLARfundraising.com and see which of your peers have chosen STELLAR as their fundraising counsel.

We hope you enjoyed this issue of Fundamentals and the helpful information and ideas it provided. Feel free to check out past issues of Fundamentals and other helpful articles from our STELLAR team of experts HERE.

Again, please remember, Make No Small Plans!

And, if you go to the well, draw deep, and cover all your program and facility needs via one bold multi-year campaign!

Terry J. Cusack

Founder, CEO and Fundraising SME
STELLAR Fundraising Executives, Inc.

STELLAR Fundraising Executives, Inc.
438 Osceola Avenue
Jacksonville Beach, FL 32250
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