strategic prospect research two paths to opening doors with donors part 2 2011 annual afp statewide...

Strategic Prospect Research

Two Paths to Opening Doors with Donorspart 2

2011 Annual AFP Statewide Conference

INSPIRE YOUR PRACTICE

July 22, 2011

What do they mean to a donor?

High capacity, low affinity

“If I let $100 fall out of my pocket, will you stop chasing me?”

High affinity, low-to-moderate capacity

“Hello? Can anybody see me?”

What do they mean to a donor?

Low capacity, low affinity

“Whatev, I’ve got yogurt.”

High affinity, high capacity

“This is important to me, but I need to partner with a good organization that I can trust and that shares my vision.”

Pitfalls in Prospect ResearchOveremphasizing capacity

(Oprah Effect)Ignoring affinityDo no researchUsual suspects only“Everyone should care” fallacy Too much time spent/unfocusedUnimportant/irrelevant detailsMake no use of the information

By contrast, through strategic prospect research, we:

Identify and learn more about high capacity, high affinity prospects

Find ways to connect to those prospectsBegin to “see” the relatively invisible high

affinity, moderate capacity donors who build your base

Begin to build greater affinity—the research process leads right into qualification and cultivation through friendraising

Two Paths: Friendraising

• Path #1 = Friendraising working through people

• Path #2 = Proactive research working through data

What is friendraising?Friendraising: Forming and sustaining

relationships around mutual interests in a way that advances your organization or cause.

Friends of Gorilla Conservation run in London

“I have friends. What I need is MONEY!”Pssst. Yeah, you.

You can have BOTH. In fact, they

are connected.

Friendraising and Sustainability

“Many organizations lose up to 60% of their cash donors after the first donation.”*

Friends tend to be more loyal. Friendraising is not only a prospecting strategy; it’s also a sustainability strategy.

*“Building Donor Loyalty: The Antecedents and Role of Commitment in the Context of Charity Giving,” by Adrian Sargeant & Dr. Lucy Woodliffe. Journal of Nonprofit & Public Sector Marketing . Volume 18, Issue 2, 2007.

Okay, but where do I begin?

Begin where you are, with what you have right

now.

Breakout: Asset Interviews

Using the Fundraising Assets worksheet provided, interview the person sitting next to you.

Complete, for both partners if time permits, the “organization’s mission,” “active volunteers,” and “other friends” boxes in 5 minutes.

Take form back to your own organization and finish with a buddy.

Breakout: Asset InterviewsFollow up questions:1.What are some examples of assets you

identified? 2.Anything unexpected emerge?3.How can you use those assets to increase

your pool of friends and to identify prospects? One way is the…

…Mini Discovery Campaign!The asset exercise helps you identify your

base of support and buildfrom there. Friendraising is an ongoing

activity. One way to get it kickstarted is the mini

discovery campaign. It:Helps you to tackle a specific issue with help

from your friendsSurfaces important information; identifies

prospectsBuilds affinity