I began my Formula 1 racing journey as a kid in Indiana who loved the Indy 500. When my favorite driver, Johnny Rutherford, won the 500 for Team McLaren, I learned that McLaren was also a leading team in Formula 1. I’ve been following McLaren and F1 ever since. I love racing, and I’m excited to see the movie, F1, which has broken records for Apple Studios.
I’m not surprised that so many people are loving the film. F1 as a sport has grown in popularity, and more people are getting drawn into the personalities, technology, and strategy of fast cars engineered to win on winding streets and road courses. We were talking about F1 at the JGA office recently, and I came to realize the sport offers some learning lessons, even for fundraisers.
So, here is my take on how F1 applies to our donor engagement strategies.
Four lessons from F1 to inspire your fundraising success
F1 is a combination of tech, strategy, and in-the-moment tactical decisions, all designed to create high-velocity excitement. In racing, that’s about fast cars. In fundraising, it’s about winning for the donor at high speed to meet your mission goals. There are four lessons from F1 strategy that directly apply to donor engagement.
- Each car and driver has different strengths. In fact, the combo between the two is what makes each team unique.
That’s similar to fundraising. You have team members, whether they are gift officers, fundraisers, or communications professionals, who bring unique skills to the table. Think critically about how they can support each other, find synergy, fill in gaps; then build on those strengths. There is no magic “fundraising recipe.” It’s almost always about the combination of these strengths.
- Weather doesn’t stop the race. In some racing series, even a speck of rain stops the race. That doesn’t happen in F1. The weather doesn’t stop anything. How you handle evolving conditions as a driver and as a team makes all the difference. Legendary driver, Michael Schumacher could change strategy on a dime to match every surprise. Schumacher often won races even when he did not have the best car in the field.
This applies directly to fundraising. When economic, social, and global conditions change quickly, you don’t stop the race. You adapt and check in with your donors, but you keep your pedal on the gas for engagement. Nonprofits that went silent at the start of the pandemic found this out — those who changed strategy but kept moving forward are doing better today.
Caption: The author (left) with his cousin Chad at the 2003 F1 United States Grand Prix in Indianapolis.
- Winning is about more than the driver. An F1 team owes a lot to its driver, but the race strategists, car designers, pit crew, and the marketing team also make significant contributions to a team’s success.
In fundraising, this means you need to resource your frontline fundraisers with help, whether that’s prospect researchers, donor relations team members, event planners, or even technology. Racing and fundraising both require a total team effort.
- The race is longer than just this year. F1 teams are building new cars and innovative designs while their cars are still running in this year’s series of races. They’re thinking about cars next year and into the future.
Our commitment to donors and our mission is long-term, and you can’t sit on your successes today. You’ll be left behind. You need to meet immediate goals, make your budget, and close your annual campaign. Fundraising strategy should be a long-term focus, however. You should be using what you are learning right now about your donors to inform future campaigns and to enhance their relationship with the organization. Today’s annual or leadership donor is tomorrow’s planned giving donor. You should constantly be thinking about the next tool that will help your team.
We’re ready to help your team innovate for higher fundraising velocity and success.
In the same way that racing is constantly innovating, so must fundraising. Donors are changing, the “track” conditions are evolving as we face new economic and social environments, and new technology is always coming our way. It’s a lot to keep track of, and as I’ve said above, a good team can make all the difference.
So, if you like what I’ve mentioned here, connect with us, and let’s have a strategic conversation about your key race goals. We’re ready to go full throttle to help you advance your mission and give donors a memorable ride.