Do you know your major donor audience?
November 2017
Prospect research is crucial when engaging your major donor prospects. By understanding their expectations and interests, you are much more likely to align your worth with their charitable ambitions. Your ability to meet your fundraising targets relies on you knowing your major donor prospects as well as possible. Here are some things that might help:
Undertake some prospect research
Prospect research can reduce fundraising costs and help you more efficiently fundraise by identifying donors already aligned with your cause. Less time spent cultivating uninterested or hard to reach prospects and more time spent making the right asks.
Reevaluate your prospect pipeline
There are some prospects that are sitting on everyone’s pipeline, but are never being moved towards an ask. It might be that at the time they were added they showed interest in your cause or a board member had a connection that never materialised. If these prospects are not being engaged, it’s time for a pipeline cleanout - make plans to approach the prospects you can reach and do some research to replace the ones you can’t.
Familiarise yourself with your donors affiliations and interests
Get to know your prospects philanthropic causes and affiliations. Don’t waste time pursuing donors that have committed to other areas with little interest in expanding. Utilise the research you’ve already done and approach those with a history of supporting similar causes, or ones with long standing connections. It’s much easier to gain support when the prospects you approach are passionate about what you stand for.
Make sure your fundraising efforts are hitting the mark
Match the donor to the event. Small scale, personalised events for special donors are well worth the effort when it gives them the opportunity to learn about and offer support to your cause. It’s this small percentage of donors who contribute the most funds and while they have many demands on their time, a bespoke event will ensure they remember you.
At Prospecting for Gold we have over 20 years experience working with the nonprofit sector, we offer everything from prospect research to consultancy and would be happy to discuss your fundraising needs. Get in touch with us at info@prospectingforgold.co.uk.
Kat Buckley
Content Writer and Social Media Manager
Prospecting for Gold
