Research-based fundraising is gaining momentum, but there’s a strategy to getting it right. If your major gift research isn’t delivering results, a few simple changes can help you discover new potential donors.
Research-based fundraising is finally having its moment and we’re here for it. Although using data and research to inform fundraising strategies is fast becoming the norm, there is a technique to getting it right. If your major gift research isn’t getting the desired results, we can help. In our 25-plus years of working in research-based fundraising, here are some of the most common mistakes we see charities make and how to fix them.
Not screening your database
Your own database is a treasure trove for identifying major gift prospects. It’s easy to overlook because you might think if there were major gift prospects in there, they’d be supporting you already. But without researching, identifying and asking them, that’s unlikely.
Make the most of your supporter database with tools like prospect research and wealth screening. By comparing the information on your supporter database with our Wealth Intelligence Database to find matches, you can identify individuals who appear on both databases, making them a potential major donor for your cause.
Staying too south-east centric
Everyone knows the greater south-east is the most donor-centric area in the UK. That means the donors in these areas receive way more fundraising requests than their regional counterparts. However, CAF’s UK Giving Report 2024 found that in 98% of constituencies across the UK, at least half of people donated to charity in the past year, so there’s plenty of opportunity to grow your donor pool outside the south-east.
Expand your donor search by looking at property values. Our Million Pound Property database has information on over 800,000 properties valued at £1m and above in England and Wales, with a quarter of these properties located outside the south-east.
Not making use of your existing connections
Prospect research is the quickest way to get to know your supporters better. Not only does it help you understand their wealth and philanthropic motivations, but it can shine on their relationships and connections. This can help you identify prospects who aren’t currently supporting your organisation but have the capacity to donate and have an affinity with your work. Most importantly, they’re easier for you to reach because of your existing connections.
Want to learn more about identifying and researching your best prospects? Join our free webinar on Thursday 27th March. We’ll cover:
- The UK’s wealth landscape and what it means for major gift fundraising.
- Types of donors to look for.
- The research techniques to help find them:
- Data mining – learnings from analysing your own data.
- Wealth screening – the GDPR-compliant way to identify prospects.
- Desk research – delving deeper and finding new supporters.
- Prospecting in person – making the most of networks and connections.
The session will end with an open Q&A session to get your questions answered by the experts. Don’t miss out.