When asked by Blackbaud’s NonprofitTrends blog, Jay Frost tells it straight: prospect research has always been mainstream. And it feels so good to hear someone else saying it! Every time you find a quick company bio or a phone number on your prospect you are performing prospect research.

But Jay doesn’t stop there:

The danger in not making the distinction between the type of cursory review most offices do and the kind of work performed by a professional prospect research unit is that they miss opportunities, ask for too little and, because they are spending time looking things up rather than seeing donors, they ask less often than they could. All of these things put organizations without professional level prospect research at a significant short and long term fundraising disadvantage. [emphasis added]

So what does that mean to you as a fundraiser? You have to research stuff on your own because otherwise it wouldn’t happen, right? But Jay is not advocating all or nothing. I like to use the plumber analogy.

I am a do-it-yourselfer and I am not afraid to plunge a clogged drain or change the washer on a faucet. But if I told you that I was an expert plumber because I could plunge a drain or change a washer you would definitely have to stifle a giggle. And if I attempted to repair a leaking supply pipe I could end up wasting hours of time and end up in a pool of water.

So learn some basic search techniques and find what you need for that first donor prospect visit. But as cultivation deepens and you involve leadership or begin approaching the solicitation, don’t skimp on professional prospect research. If you need help identifying prospects for your campaign, don’t wait until you are struggling to reach your goal. Use professional prospect research before you risk thousands, perhaps millions, in gifts.

Aspire Research Group sells a fabulous how-to tool, Search Tips for Fundraisers, that has been helping fundraisers use their time effectively. At Aspire Research Group we recognize the fundraiser’s reality and craft solutions that empower you to effectively close on your major gifts. Check us out sometime at www.AspireResearchGroup.com.