How can you use prospect research to better understand your organization's donors?

Prospect research is a vital tool for any non-profit organization that wants to cultivate and engage its donors effectively. It involves gathering and analyzing information about your current and potential supporters, such as their interests, preferences, giving history, capacity, and affinity. By using prospect research, you can gain valuable insights into your donor base and tailor your fundraising strategies accordingly. Here are some ways you can use prospect research to better understand your organization's donors.

1 Identify your best prospects

One of the main benefits of prospect research is that it helps you identify your best prospects, or those who are most likely to give, give more, or give again. You can use various criteria to segment your prospects, such as wealth indicators, philanthropic indicators, and engagement indicators. Wealth indicators measure how much a prospect can afford to give, such as income, assets, and net worth. Philanthropic indicators measure how much a prospect is willing to give, such as past donations, involvement in other causes, and giving patterns. Engagement indicators measure how much a prospect is interested in your organization, such as attendance at events, participation in programs, and responsiveness to communications. By combining these criteria, you can rank your prospects and prioritize your outreach efforts.

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Boubacar DIALLO

Entrepreneur
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Mais ce que nous avons trouvé utile c'est de personnaliser vos études de marché paraport aux différents prospects ciblé car chacun a sa manière d'être et savoir comment tanter une approche sur lui est autant plus important car c'est le premier contact qui importe et qui peut donner une suite logique où mettre un terme

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2 Understand your donors' motivations

Another benefit of prospect research is that it helps you understand your donors' motivations, or why they give to your organization. You can use different sources of information to learn more about your donors' values, passions, goals, and challenges. For example, you can use surveys, interviews, focus groups, or social media to ask your donors about their opinions, feedback, and stories. You can also use public records, media reports, or online databases to find out about your donors' professional, personal, and philanthropic backgrounds. By understanding your donors' motivations, you can craft compelling messages, stories, and appeals that resonate with them and inspire them to take action.

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Boubacar DIALLO

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La motivation de la cible est très important car grâce à elle tu peux savoir si c'est un prospect qui veut la peine de dépensé un maximum et éviter de te faire perdre du temps

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3 Customize your donor stewardship

A third benefit of prospect research is that it helps you customize your donor stewardship, or how you thank, recognize, and retain your donors. You can use various methods to personalize your donor stewardship, such as segmentation, segmentation, and segmentation. Segmentation means grouping your donors based on their characteristics, such as donation amount, frequency, or channel. Differentiation means adjusting your stewardship tactics based on your donors' preferences, such as communication style, frequency, or medium. Integration means connecting your stewardship activities with your fundraising goals, such as reporting on impact, soliciting feedback, or asking for referrals. By customizing your donor stewardship, you can build trust, loyalty, and satisfaction among your donors and increase their lifetime value.

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Larissa Verbitskaya

Gender Equality & Social Inclusion Expert 🔅 Mentor for Start-ups, NGOs, and Social Entrepreneurs🔅 Speaker on Diversity and Inclusion 🔅 Expert in Social Impact Strategies
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It seems to me that donor management is an undervalued part of the work of non-profit organizations. Organizations devote a lot of time to projects and partners. At the same time, the good fundraiser should remain aware of the programs and grant organizations, foundation, etc in your geographic region and sector. And as in the situation of business contacts, a competent CRM approach aimed at building trusting relationships will be very helpful here. Of course, the communications department is working to ensure that you, too, are visible to donors.

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4 Track your donor trends

A fourth benefit of prospect research is that it helps you track your donor trends, or how your donors' behavior and expectations change over time. You can use various tools to monitor and analyze your donor trends, such as dashboards, reports, or surveys. Dashboards are visual displays of key metrics and indicators that show your donor performance at a glance. Reports are detailed documents that summarize your donor data and provide insights and recommendations. Surveys are questionnaires that collect your donor feedback and opinions on various aspects of your organization. By tracking your donor trends, you can identify your strengths, weaknesses, opportunities, and threats and adapt your fundraising strategies accordingly.

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5 Benchmark your donor performance

A fifth benefit of prospect research is that it helps you benchmark your donor performance, or how your donors compare to other donors in your sector or industry. You can use various sources to benchmark your donor performance, such as industry reports, peer networks, or online platforms. Industry reports are publications that provide statistics, analysis, and best practices on fundraising trends and issues. Peer networks are groups of organizations that share information, resources, and experiences on fundraising topics and challenges. Online platforms are websites or applications that allow you to access, compare, and evaluate donor data and metrics. By benchmarking your donor performance, you can learn from others, set realistic goals, and measure your progress and impact.

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6 Enhance your donor relationships

A sixth benefit of prospect research is that it helps you enhance your donor relationships, or how you interact and communicate with your donors. You can use various techniques to enhance your donor relationships, such as segmentation, personalization, and engagement. Segmentation means dividing your donors into smaller groups based on their similarities, such as demographics, psychographics, or behavior. Personalization means addressing your donors by their names, acknowledging their contributions, and showing appreciation. Engagement means involving your donors in your organization's mission, vision, and values, such as inviting them to events, sharing stories, and asking for input. By enhancing your donor relationships, you can create a sense of belonging, commitment, and advocacy among your donors and foster long-term partnerships.

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Boubacar DIALLO

Entrepreneur
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La relation entre toutes les parties impliquées dans processus est important car la bonne coperation maximise les chances de réussite du travail,du projet où tout autre objectif

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Larissa Verbitskaya

Gender Equality & Social Inclusion Expert 🔅 Mentor for Start-ups, NGOs, and Social Entrepreneurs🔅 Speaker on Diversity and Inclusion 🔅 Expert in Social Impact Strategies
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Long-term relationships should be improved and built with all project partners. Sometimes donors arrange meetings with their grantees. These could be themed conferences or a Christmas party. Be sure to participate in such events, using them to a) study the donor’s preferences; b) exchange experiences; c) tell more about your organization and projects. And always come with gifts to such meetings. People love gifts and attention))

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you use prospect research to better understand your organization's donors?

1

2

3

4

5

6

7

1 Identify your best prospects

2 Understand your donors' motivations

3 Customize your donor stewardship

4 Track your donor trends

5 Benchmark your donor performance

6 Enhance your donor relationships

7 Here’s what else to consider

Non-profit Program Development

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How can you use prospect research to better understand your organization's donors?

1

2

3

4

5

6

7

1 Identify your best prospects

2 Understand your donors' motivations

3 Customize your donor stewardship

4 Track your donor trends

5 Benchmark your donor performance

6 Enhance your donor relationships

7 Here’s what else to consider

Non-profit Program Development

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