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Find Your Next Funder: Use Prospect Research to Secure Major Donors
- To avoid such nightmare scenario, it is important to have a database that provides concrete information on major donors and donors-prospects that supplements known information on a sequential basis.
- Institutional knowledge gets lost not just when someone leaves an organization, but also when someone doesn't bother to record it hence, notes should be taken in such a way that no donor would be offended if they read them.
- Successful fundraising is about relationship building, but it is also about data. Therefore, prospect research is important to provide concrete information on major donors.
- Every fundraising team should have a new constituent list or new donor list produced on a regular schedule for review by the relationship-building personnel in your office.
- Make sure that you have quality, current data to inform your solicitation efforts, and take time to do your prospect homework and take advantage of the resources that can enable you to find your next major donor.
- Before a constituent meeting, prospect research should be asked to provide brief notes on attendees, with capacity information from analytic ratings available in the database.
- It is important to establish a routine for everyone concerned to enter meeting and conversation details into the fundraising CRM on a timely and consistent basis.
- When developing a strategy for major gift cultivation, identify the right funding opportunities for each constituent.
- It is vital that while taking notes, you should consider including notes on decisions to reject a solicitation so that future solicitors can be informed.
- Prospect research provides valuable information key to solicitation, including analytic assessments on inclination to make a gift and a suggested ask amount range.
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