Research-based fundraising is in the limelight, and we’re here for it. Prospect research is at the core of research-based fundraising and simply means getting to know your supporters better so you can deepen your existing relationships and build new ones.
If you haven’t tried prospect research before, these sources can help you get started. Remember, if you are undertaking prospect research for the first time, make sure you update your privacy notice, let your supporters know what research you plan to undertake and give them a chance to opt out of data processing.
Now onto the good stuff.
Rich lists
The Sunday Times Rich List is probably the most well-known rich list in the UK, but there are plenty more. Forbes Rich Lists are a great free resource to start with, but there are also regional rich lists which may be more suited to your cause. Check out our Rich List Calendar for the best lists of the rich and influential from the UK and the rest of the world.
Look for people whose giving history aligns with your mission, check for mentions of philanthropy, the charities they’ve worked with, and any other public information that suggests they might be interested in supporting your cause.
Companies House
Companies House can help you understand more about the wealth and work of the people you’re researching. You can either search for an individual’s name to find all the companies they’re a director of, or search a company name to find all the directors and owners. You can review company information like accounts (high profits or assets could indicate a strong prospect), incorporation dates, and the company status.
When looking at individuals, see how many companies they’re connected to, and note addresses to see if they’re active in your area. Once you have a shortlist of names, search for press coverage to find information on their giving history and philanthropy.
LinkedIn can be a cost-effective way to find potential donors, volunteers, or trustees for your cause. Before starting, define your goals – are you looking for HNWIs, skilled volunteers, CSR leaders, or potential trustees and ambassadors?
The advanced search filter will help you sort individuals by job title or company name, and you can even plug in keywords like ‘volunteer’, ‘trustee’, or ‘ambassador’. To find people connected with your cause, look at who’s following your charity’s page, members of cause-related groups, alumni of universities with strong social values, or people listing volunteering or trustee roles in their profile.
Your supporter database
It may sound obvious, but your own supporter database is often the best place to start prospect research. If you’re not familiar with your CRM, spend some time with the team who manage it to understand what insights you can get from it, and what useful parameters you can search on.
Start with a basic search to segment people with senior-sounding job titles – President, Chief Executive, Owner, Founder, Chairman, and then dive into an analysis of past giving.
Our Wealth Intelligence database
We’ve been building our Wealth Intelligence Database for 26 years. It’s updated daily and has information on over 270,000 HNW and well-connected individuals. If you want instant results, this is the place to start.
We suggest carrying out a wealth screening, which compares the information on your supporter database with the information on our Wealth Intelligence Database to find matches. A prospect that shows up on both databases is likely a good candidate for a major gift.
At Prospecting for Gold, we specialise in research, wealth screening, consultancy, and regulatory compliance, making fundraising more effective and successful.
Successful major gift fundraising isn’t just about securing a donation. It’s about building relationships, understanding people’s motivations, and aligning their interests with your cause.
Our wealth screening and data summary report is free when we screen 2,000 or more of your UK supporters. Ready to transform your major gift fundraising? Contact us today.