What are the secrets to successful fundraising in the nonprofit sector – and can those secrets be translated into advice for business owners in the for-profit world, as well?
There are so many misconceptions about fundraising, and the more time passes, the more entrenched these myths become. In this episode of Let’s Talk Business, Meny talks to Moshe Hecht, who has changed the nature of fundraising repeatedly – both as a philanthropic futurist at Charidy.com who helped over 7000 organizations raise almost 3 billion dollars in 7 years, and as co-founder and CEO of HATCH, the world’s first Giving Intelligence Platform. Moshe and Meny dispel some of the misconceptions while offering practical tips that can help you raise money, too – whether you run a charity or a for-profit business. It’s an enlightening conversation, so don’t miss it.
Moshe Hecht is the co-founder and CEO of HATCH, the world’s first Giving Intelligence Platform. A philanthropic futurist and innovator, Moshe previously built a global team and platform at Charidy.com that helped 6000 organizations raise over 1.8 billion dollars in 7 years. Dedicated to advancing philanthropy through the use of technology, he won the Nonprofit Technology Professional of the Year award, and his articles on the future of giving have been published in Forbes, Guidestar, Nonprofit Pro, Nonprofit Quarterly and eJewishPhilanthropy.
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Fusing His Passion for Business with His Passion for Social Good: A Conversation with Moshe Hecht
[00:01 – 08:21] Opening Segment
- Introducing Moshe Hecht, the co-founder, and CEO of Hatch, a giving intelligence platform
- His experience working at charity.com and helping raise close to $3 billion for charities
- How Hecht saw a gap in organizations not monetizing their donor data and founded Hatch to address this issue
- Helping organizations understand their donors’ potential through data analysis
[08:22 – 15:42] The Platform Revolutionizing Fundraising and Marketing Efforts for Nonprofits
- What allows organizations to prospect for different opportunities and enhance their fundraising and marketing efforts
- Where the idea for charity.com came from
- The prevalence of crowdfunding for small businesses
- How charity.com flipped the script on traditional business models
[15:43 – 22:43] Building a Successful Platform for Social Giving
- Understanding the psychological motivations of donors and creating a sense of urgency
- How social aspects play a big role in donor motivation
- Building a platform for a specific audience is important for success
- Emotional connection is important in building products and businesses
[22:44 – 30:05] The Importance of Setting Ambitious Goals in Fundraising
- Setting goals and helping organizations get the job done is key to sustainability
- Belief in oneself is the key to successful fundraising campaigns
- Successful fundraisers believe in the urgency of the cause and their capability to make a difference
- Fear of failure is a common obstacle for fundraisers, but belief in oneself can overcome it
[30:06 – 37:22] Maximizing Your Database
- How data can help nonprofits and businesses target their constituents for better results
- The value of data in targeting and tailoring marketing campaigns
- The importance of strong leadership in business success
- How targeted campaigns based on public sources and third-party data can increase referral power and donations
[37:23 – 45:02] How to Identify Potential Donors
- How to communicate better and increase donations for fundraisers
- Marketers can use public data to identify potential donors who match their event
- Nonprofits are growing based on people’s lifestyles and interests
- Fundraisers can expand their prospect list by using signals of wealth and capacity
[45:03 – 49:06] Closing Segment
- Building relationships and cultivating donors over time is critical for fundraisers
- Hetch on the rapid four questions
Key Quotes:
“If you can discover the psychological motivations of your audience and if you can build something around those motivations and you can build something successful.” – Moshe Hecht
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About Moshe Hecht
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