By Lynne Wester
As we look at patterns in our donors, how we communicate and fundraise with them, we’re always attempting to find new ways to identify future major and principal gift donors.
Besides wealth and capacity screenings, how do we find those folks that could be great prospects? Well let me introduce you to a few new folks on the fundraising scene... COWs and GOWs...
The name may be unsexy but these folks are children and grandchildren of wealth. They have inter generational wealth in their families and are becoming more involved with their family fortunes and charitable giving at even younger ages. How are you engaging them and identifying them? One way is to give them the same ratings or recognition that their parents or grandparents currently have. Engage them early and often! Understand that they already have voting and board roles on their family foundations at age 18 or 21 but you probably aren’t talking to them until much later! Don’t miss this opportunity... don’t let your COWs go out to pasture and never come home!
HIPPOs aren’t just cute, powerful and hungry, they’re the highest paid person in an office! It may not be the CEO or CFO, it could be a highly bonused sales agent or someone with lots of stock-check for these folks on business websites and also on tax returns. You want to speak with these folks now and chat with them about their giving.
Finally—check out your HENRYs, that’s your high earners not rich yet! Lol, an acronym for everything. These are young folks in lucrative careers like finance, engineering, consulting, but they haven’t amassed wealth or assets yet. They may not be rich but what they do have is tons of disposable income! These are young people that work hard and play even harder and in more expensive ways. They’re traveling to amazing places and having amazing experiences and love cause marketing, so how do you get in front of them? How do you make your institution a cause they care about?
So check 'em out! Go and look for your COWs, HENRYs, HIPPOs and others that might be future indicators for your fundraising shop! Who else are you looking at in your database!?
Can’t wait to hear of your success!
Cheers Lynne
