Did you know that major gift officers who use prospect research raise more than their colleagues who go it alone? Prospect research is the secret sauce that has been helping some organizations out-perform others for years. Think about it. Can you name a higher-education fundraising powerhouse that does not employ prospect researchers? When I was working on the book, Prospect Research for Fundraisers, I had conversations with the very talented Nancy Lee, consultant and Executive Director for Donor Services at Thomas Jefferson University and Hospital in Philadelphia. She told me that fundraisers need to realize that it is the researcher who decides what goes in or stays out of a prospect profile, based on the request. Sounds kind of harsh, doesn’t it? But it fits right in with what we need most in this world of too much data – content curation. A good prospect researcher will sift through the overwhelming amount of information and give you what you need most. Or will she? The source of tension There is a natural tension between frontline fundraisers requesting prospect research and the researchers who deliver it. Requests for research are as varied as the organizations and the people within them. Requests might be emailed, left as voicemail or they might be a completed form or online request system. But even when requests are made face-to-face, there is room for misunderstanding. This causes tension. When you consider what is on the line – the success or failure of your major gift solicitation – it makes sense for you, the person talking with the donor, to take ownership of the requests you make for research. And you might be surprised how easy that can be. Two easy things you can do to get what you need 1. Be specific Any prospect researcher worth a grain of salt should be filtering prospect and donor data based on your organization’s mission, programs and overall culture. Beyond that you should be specific, regardless of what is or is not available on any form you are required to complete. By specific I mean that you should disclose what is worrying you, causing confusion, or has you excited. Let me give some examples.
- I think she is related to the Moneybags family and could be a million+ donor!
- I know he is a loyal donor to Knowledge University. I’m worried he has already made his stretch gift and there isn’t enough left to make a campaign leadership gift.
- I have tried to figure out her interests, but she’s very reserved. Any clues on what might get her talking would help.
That’s not so difficult, is it? Recognizing why you decided to make the request and then clearly stating it to the researcher. If you do this you will get the information you need. Except that sometimes you still don’t get those info nuggets you were hoping for, right? It could be that your researcher needs more training, but you could try one more thing. 2. Feedback If you get a prospect profile that does not answer your questions, or that appears to be missing important stuff, take it back to the researcher and ask what happened. It might be that she could not find the information, but didn’t state that in the profile. There could be so many things going on. And the only way you’ll find out is if you ask. But you’re good at asking, right? Because it’s up to you to make the right ask to the prospect. Had any good conversations lately? It’s so easy for conversations between frontline fundraisers and prospect researchers to get negative. But I have worked with many frontline fundraisers who have helped me to help them. I love being part of the team that closes the big gift! If you have been reading this article and nodding your head the whole time because it validates what you have been doing so well already, won’t you comment and share your success? Need Help? Jen Filla helps fundraisers and researchers communicate and create process. Through Aspire Research Group she also provides organizations with outsourced prospect research. Call 727 202 3405 x700 or email jen at aspireresearchgroup.com
Other Resources You Might Like
- Good Prospect Research = Strategic Fundraising – Jen Filla and Helen Brown asked prospect researchers what they wanted to share most with frontline fundraisers.
- For Fundraisers Working with a Research Team – Blog by Helen Brown
- 3Solutions to Prospecting Problems – Blog by Chris Cannon
- Supporting Advancement Research Request Forms – Links in top right column