The majority of nonprofit organizations in the country do not have dedicated prospect research staff. So how can you still leverage prospect research to raise more money?
The biggest hurdle is recognizing that prospect research can be accomplished by everyone in your organization. Here are three shortcuts any fundraiser can implement to begin using prospect research techniques to boost giving:
(1) Identify people with linkage, ability and inclination
Everyone in your organization can identify people who are connected in some way to you, appear to have some money to give away and, if not outright passionate about your mission, are likely to be philanthropic. Have a team meeting and educate everyone in your organization about what a good prospect looks and sounds like. Arm them with the kinds of easy conversational questions that will help qualify a good donor prospect. Then listen when they tell you about people and share the outcome with them.
(2) Get to know the people closest to your organization
From the gift entry clerk who starts her call to a donor with “thank you” before asking her question, to the janitor who gives people directions on the campus, to the president who meets with local companies – everyone in your organization has a chance to treat your constituents as the friends and family they are. As the fundraiser, you need to ask staff about people frequently and listen and record what they say.
(3) Decide on a tracking system and stick to it!
Working with the people in your office who understand your database best (which could also be the vendor), decide what you want to keep track of and the best way to do it. Then make sure everyone entering data does it the same way so you can pull accurate reports. For more ideas, read Three Simple Steps to a Prospect Management System.
At first it may seem like a lot of work to involve other staff members in identifying and cultivating your constituents, but once you learn to balance all of the chance meetings you have with staff with a few added formal encounters, you might find that you will gather more face-to-face intelligence with donor prospects than you ever could have accomplished on your own.
It takes time to implement anything new, but with all this information being gathered you will soon be in the enviable position of prioritizing well-informed prospect lists!
Still need help identifying prospects? Are you lost in your database full of donor records? Need deep research before a solicitation? Call Aspire Research Group at (727) 231-0516. We can help.