Strategic Prospect Research Two Paths to Opening Doors with Donors part 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 Research Overemphasizing capacity (Oprah Effect) Ignoring affinity Do no research Usual suspects only “Everyone should care” fallacy Too much time spent/unfocused Unimportant/irrelevant details Make 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 prospects Begin 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 Interviews Follow 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 build from 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 friends Surfaces important information; identifies prospects Builds affinity