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The New Face of
Prospect Development



 800.933.4446 | www.wealthengine.com | info@wealthengine.com
Presented By



                            Sally Boucher
                            Director of Research, WealthEngine Institute

                            Sally Boucher, CFRE, is the Director of Research at WealthEngine
                            with a 15-year background in higher education, the arts, and
                            human services development. She has provided professional
                            services to hundreds of non-profit organizations.

                            Sally is the primary author of the Growing Individual Gifts
                            Workbook, the Best Practices for Prospect Research in Higher
                            Education Fundraising Report, and a contributor to the Measuring
                            Fundraising Return on Investment and the Impact of Prospect
                            Research white paper. She regularly presents on analytics, return
                            on investment, research and major giving.




wealthengine.com | Page 2
WealthEngine Helps Nonprofits Find the
Right People for the Right Purpose

                  Who are my best donors and prospects?
                  Analytics allows you to draw conclusions and make informed decisions.



                  What can I learn about these people?
                  In-depth, contextual information to better understand each of your prospects.



                  How can I find more prospects just like them?
                  Leading tools to build your prospect pipeline and thoughtfully expand your reach.


                  What strategies should I use to reach them?
                  Customized insight and advice to develop and execute your fundraising strategy
                  with precision.


                  Fully integrated. Scalable. Best in class. Your results are ready.


wealthengine.com | Page 3
Agenda

      The Pulse of The Profession
       – How do we spend our time and what do we measure?
      What’s Trending?
       – What are the current trends and what are the skills
         we need?
      How does it all fit together?
       – Where does Prospect Development fit, and where do
         you fit?




wealthengine.com | Page 4
The Pulse of the
Profession
The Pulse of the Profession

      Survey Results from Summer 2011
      Received 100 responses
      We asked questions about five main categories of work within
      Prospect Development
       – Reactive Research
       – Proactive Research
       – Prospect Management
       – Analytics, Data Analysis and Information and Data Mining
       – Supervisory and Management
      For each area, we asked
       – What are your responsibilities?
       – What goals/metrics do you track?
       – If you track metrics, what were your results?



wealthengine.com | Page 6
Survey Respondents




                                               _________________________
          Organization Type                                                Current Title
                                                                              Administration/
                                                                              Data Entry 8.9%

              Other 15%
                                                                                                    Director 22.8%

     Health Care                                                              Analyst 38.0%
                               Education 60%                                                         Manager/Superv
        25%
                                                                                                       isor 30.4%,




                                                                           Director 23%
           Non-profit
           Education
                                                                           Manager/Supervisor 30%
           Non-profit
           Hospital/Health
                                                                           Analyst 38%
           Care
           Other Non-profits
                                                                           Administration/Data Entry 9%




wealthengine.com | Page 7
Salary Ranges of Respondents

            Over 50% of respondents fall into the $40K to $60K salary range
                                     Salary Ranges of Respondents

      $120,000 and above

             $90-99,000

            $80-$89,000

            $70-$79,000

            $60-$69,000

            $50-$59,000                                                     Grand Total
            $40-$49,000

            $30-$39,000

          Below $30,000

               Part-time

              No Answer

                           0%   5%        10%    15%     20%    25%   30%




wealthengine.com | Page 8
Areas of Responsibility

                What are your current                                 What job responsibilities
                  responsibilities?                                 do you aspire to in 1-3 years?

   Development Information…                                           Don't Know/Not Sure
                                                                                     Same
                 Major Gifts
                                                  Development Information Systems/Services
             Special Events
                                                                                Major Gifts
Stewardship/Donor Relations
                                                                            Special Events
  Annual Giving/Membership                                     Stewardship/Donor Relations
             Planned Giving                                      Annual Giving/Membership

Corporate/Foundation Giving                                                 Planned Giving
                                                               Corporate/Foundation Giving
     Data Analysis/Analytics
                                                                    Data Analysis/Analytics
           Business/Finance
                                                                          Business/Finance
      Prospect Management
                                                                     Prospect Management
          Prospect Research                                              Prospect Research
                               0%   20%   40%   60%   80%    100%                             0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%




     wealthengine.com | Page 9
Time Spent in Key Areas


                                                                  21%-   41%-   61%-   81%-
            Key Responsibility Area          0%    1%-5% 6%-20%
                                                                  40%    60%    80%    100%

     Prospect Identification and Proactive
                  Research
                                              3%      6%   46%     33%     7%     2%     3%
    Prospect Research, Qualification and
            Reactive Research
                                              2%      9%   19%     37%    18%    13%     1%

     Prospect Management and Tracking
                                             10%     31%   29%     19%     0%     2%     0%
    Data Analytics, Data Management and
            Information Systems
                                             15%     28%   27%     20%     3%     0%     1%
         Management and Supervisory
                                             29%     23%   23%     10%     5%     1%     0%




wealthengine.com | Page 10
Metrics and Goals Tracked in Proactive
 Research

                                          Metrics/Goals Proactive Research

                     Number of prospects identified for major gifts

       Amount of capacity identified (For example, 10 prospects at…

Number of prospects identified by source (such as wealth screening, …

              Do not track metrics in the area of proactive research

 Number of prospects identified for corporate and foundation giving

                  Number of prospects identified for planned giving

                    Number of hours spent doing proactive research

                    Number of prospects identified for annual fund

                                  Number of publications reviewed

                                                                       0%   10%   20%   30%   40%   50%   60%   70%




   wealthengine.com | Page 11
Metrics and Goals Tracked in Reactive
Research
                                      Metrics/Goals Reactive Research

                       Number of research requests completed
                   Number of full research profiles completed
                         Number of research requests received
 Number of proactively identified prospects research-qualified
                              Number of event bios completed
          Number of corporate and/or foundations researched
        Number of research briefs or rating memo’s completed
    Number of corporate and/or foundation research requests …
                               Number of event bios requested
   Amount of capacity qualified (For example, 10 prospects at …
   Average response or turn-around time for research requests
                         Average time to complete full profile
 Do not track metrics in the area of reactive prospect research
                             Number of research hours worked
    Average time to complete research briefs or rating memo's
Average time to complete corporate/foundation research brief
                          Average time to complete event bios

                                                                  0%   10%   20%   30%   40%   50%   60%   70%




wealthengine.com | Page 12
Metrics and Goals Tracked in Prospect
Management

                                       Metrics/Goals Prospect Management

        Number of prospects assigned to front line fundraisers


% of portfolios in various stages (i.e, qualification, cultivation,
                           stewardship)


     Do not track metrics in the area of prospect management


 Number of group or prospect management meetings attended


              Number of one-on-one meetings with fundraisers


                        Amount of capacity under management


                                                                      0%   10%   20%   30%   40%   50%   60%




wealthengine.com | Page 13
Metrics and Goals Tracked in Analytics and
Supervisory Functions
                                               Metrics/Goals Analytics

Do not track metrics in the area of analytics or data management

                      Number of prospect lists for special events

                      Number of prospect lists for planned giving

    Number of prospect lists of corporate and foundation funders

                        Number of prospect lists for annual fund

                           Number of predictive models created

                          Number of predictive models deployed

                                                                    0%      10%       20%         30%   40%   50%   60%   70%



                           Goals/Metrics Supervisory

             Do not track metrics in the area of…

             Number of continuing education or…

                     Number of staff supervised

      Number of staff training events conducted …

                                                  0%   10%   20%    30%   40%   50%   60%   70%


wealthengine.com | Page 14
The Bottom Line

      Many people are happy where they are within the
      profession. The key areas where there is desired
      movement are into major gifts and stewardship/donor
      relations.
      The most time is still spent in Reactive Research.
      Proactive is next, with Prospect Management and Data
      Analytics activities almost equal.
      Most organizations track similar metrics in each of the
      major areas. These are relatively few and the actual
      measurements indicate that either few are truly
      tracking them, or that the results are not widely shared
      within the team.

wealthengine.com | Page 15
Trends in Prospect
Development
What do you see as trends in the field of
prospect development?
 “Increasing call upon the prospect researcher to lead in strategy
  development.”

 “Less emphasis on reactive research (i.e. profiles) and much more on
  prospect identification; use of analytic methodology.”

 “An increased focus on in-house analytics as a method of focusing fund
  raising efforts -- both on the annual and major giving fronts.”

 “Social media is making a difference and in many ways helps define
  who our audience is, especially in reaching different demographics.”


Survey Says…

wealthengine.com | Page 17
What new skills are you learning or would you like to learn
to help you keep pace with changes in the profession??

     “Become more skilled at data mining.”

     “Data visualization - I just completed my first major data
     mining project, and the greatest challenge was conveying the
     information in an informative, revealing way.”

     “Keeping an open mind about Social Media availability,
     reliability and content.”

     “Just need more time to feel like I fully engage w/ social
     media, but what I've done has been helpful and in so many
     ways beyond fundraising.”

Survey Says…

wealthengine.com | Page 18
Trends in Prospect Development

      Relational
        –   More collaborative, consultative relationships
        –   More proactive, less reactive
        –   Work with broader range of departments

      Analytic
        –   More emphasis on data-driven decisions
        –   More need for analysis, data mining, intelligent list-building
        –   Predictive modeling gaining traction
        –   Data visualization
        –   Business Intelligence
        –   Measure and Report Return on Investment

      Social Media
        –   Crosses all boundaries
        –   Flattens hierarchies
        –   Anyone can talk, anyone can listen
        –   Makes surveys and other forms of market research accessible
        –   Increases data by magnitudes – big data!


wealthengine.com | Page 19
Trends: Relational

More collaborative/consultative relationship with front line fundraisers
 and more interaction with other departments including marketing &
          communications, annual giving and planned giving

            What Does it Mean?                    Where Do I Start?
• More involved in strategy            •   Schedule one-on-one meetings
  development                          •   Build trust and credibility
• Collaboration on improving           •   Develop partnerships
  fundraisers’ success means greater   •   Ask questions
  impact on organizational success     •   Learn more about their job
• Influence which prospects are        •   Educate more about your job
  seen, which are prioritized, when    •   Make others aware of your
  gift is received                         interests and skills
• Broader interface across entire
  unit means more opportunities to
  learn more and contribute more

 wealthengine.com | Page 20
Trends: Relational

                    Less Reactive/More Proactive Research

            What Does it Mean?                      Where Do I Start?
• Less time reacting to others’         •   Document time for reactive
  priorities                                research
• More time setting priorities          •   Data speaks – use analytic skills to
• More time planning full strategies        show relative value of time spent
• Collaborate on improving              •   If you work with a fundraiser who
  fundraisers’ performance metrics          takes a list and gets the job done
• Changing MGO expectations, skill          without a lot of details, use that as
  sets                                      evidence
• More big picture/less small details   •   Make your case to limit requests to
• Reactive is not ever going away so        tie to specific development stages
  do not despair if that is your        •   Prioritize requests based on
  passion!                                  importance – not time in the queue


 wealthengine.com | Page 21
Trends: Analytic

                       Analysis, Data Mining, Segmentation,
                                Predictive Modeling

            What Does it Mean?                      Where Do I Start?
• More involvement in strategy             • Think “analytically”
  development                              • Need access to data
• Measurable impact on fundraising         • Start with Excel, may progress to
  success (ROI)                              specialized software
• Influences decision-making at            • Start with small projects
  every level of the development           • Build credibility with audience
  unit                                     • Learn how to explain results
• Benefits can accrue to any/all             visually and in layman’s terms
  departments                              • Find a willing collaborator
                                           • Show the benefit – what’s in it
                                             for them?


 wealthengine.com | Page 22
Trends: Analytic

                   Data Visualization/Business Intelligence
                            Return on Investment
            What Does it Mean?                      Where Do I Start?
•   Impact is enterprise-wide            •   Take analysis one step further to
•   Drives decision making                   represent visually
•   Communication with all levels        •   Need good communications skills
•   All working from the same page       •   Excel, specialized software, CRM
•   Underline critical and actionable    •   Know what message you are
    information                              promoting
•   Report and communicate successes
•   Define Key Performance Indicators
•   Straddles IS, Research, Marketing
•   Teambuilding




wealthengine.com | Page 23
Trends: Social Media and New Technologies

                                 Social Media/New Technologies
               What Does it Mean?                            Where Do I Start?
•    New sources and types of information        •   Facebook, LinkedIn
•    Verification and interpretation key         •   Get comfortable with the platforms
•    New data to feed analytics and list         •   Keep an open mind
     building                                    •   Join your organization’s online
•    Enterprise-wide activity                        communities
•    Research opportunities                      •   Join other communities that are
•    Listening opportunities (market                 relevant to your mission
     research)                                   •   Understand your organization’s
•    Responding opportunities                        policies or guidelines
•    Engagement opportunities                    •   Listen and respond where
•    Talking to your donors and supporters           appropriate
     yields better understanding and more        •   Surveys
     effective work                              •   Experiment with analytic tools:
                                                     Google analytics, Simply Measured,
                                                     Sprout Social, Hootsuite


    wealthengine.com | Page 24
The Changing Paradigm

                                                                  •   Prospect Development is
                                                                      widening and deepening.
                                                                  •   More data means more and
                                           Front Line
                                           Fundraising                deeper insights. More data
           Development                       Major                    means more expertise
            Leadership
                                            Planned                   needed to extract, verify,
                                             Annual                   interpret and translate it.
                                                                  •   The things Prospect
                                                                      Development is doing are
                                                                      touching more
 Communicatio
                                                                      departments and crossing
                               Prospect             Information       more boundaries.
    ns and
                             Development              Systems
   Marketing                                                      •   All of the trends are
                                                                      pointing to more strategy
                                                                      development, more
                                                                      influence in more areas,
                                                                      and more measurable
                                                                      impact.



wealthengine.com | Page 25
What is your impact?

                                                               Shorter time to
                          Identified Donor
                                                                cultivate and
                                                                    close

    Higher Gift
     Amount                                                          Alert improved
                                                                         timing


       More Gift Officer                                                    More Donor
      Satisfaction (ROPE)                                                   Satisfaction
     •Fewer “cold” calls                                                •Started relationship
     •Larger Gift Amount                                                from a more
     •Easier to build                                                   enlightened position
     relationship and                                                   •Involved in more
     engage prospect                                                    meaningful ways
     •Improved ability to get                                           •Asked for appropriate
     referrals                                                          amount and type of
                                               Identified               gift
                                                                        •Stirred Passions
                                             Natural Partner
                                                                        •Attended to interests



wealthengine.com | Page 26
Measuring Value

                             What Are The Best Metrics?
      Number of prospects ID’d?
      Number of profiles completed?
      Or, number of gifts touched?
      Number of PD “influences” during the gift cycle?
      Time from ID to Close?
      Ratio of % of capacity ID’d/asked/received?
      Number of calls it takes a gift officer to get an appointment?
      Success of marketing/annual giving outreach based on list
      testing – improved response rates, average gift size, renewal
      rates?
      Is it all ROI? What about ROE? What about ROPE?



wealthengine.com | Page 27
Where Do You Fit?
Holland’s Six Personality Tendencies
  Who Do You Enjoy Working With?
               Enterprising                                             Conventional
               Entrepreneur       E                            C        Banker
               Business Executive                                       Bookkeeper
               Salesperson                                              Secretary
               Travel Agent                    Data                     Computer Programmer
               Manager                                                  Financial Analyst
               Buyer                                                    Tax Preparer

Social                                                                            Realistic
Religious Worker                                                                  Auto Mechanic
Clinical Psychologist S         People                       Things
                                                                            R     Aircraft Controller
Speech Therapist                                                                  Electrician
Nurse                                                                             Farmer
Counselor                                                                         Surveyor
Teacher

                                              Ideas
                  Artistic                                            Investigative
                  Actor                                               Geologist
                  Composer                                            Chemist
                  Musician           A                          I
                                                                      Physicist
                  Designer                                            Laboratory Assistant
                  Interior Decorator                                  Medical Technician
                  Dancer               www.BusinessModelYou.com       Biologist

   wealthengine.com | Page 29
This is a GREAT time to be in Prospect
Development
                             1. Determine :
                                 •What you are good at
                                 •What you enjoy doing
                                 •Who you enjoy working with
                             2. Be proactive and think outside
                                the boundaries
                             3. Talk with colleagues and make
                                sure they know what you want
                                to do and where you want to go
                             4. Look for continuing education
                                opportunities
                             5. Look for ways to start small and
                                grow skills
                             6. Always think about how what
                                you do adds value to your
                                colleagues, department and
                                organization

wealthengine.com | Page 30
More Wealth and Fundraising
Intelligence
Knowledge Center & Thought Leadership

We support innovation and advancement in the field…


                        Growing Individual Gifts Workbook
                        Tools you need to grow your fundraising results



                        ProspectResearchResources.com
                        Free tools for every research request



                        WealthEngine Institute
                        Free education, knowledge sharing and networking



wealthengine.com | Page 32
Questions? Contact Us!

If you’d like to learn more about how you can implement
data driven solutions in your nonprofit, contact us!




                             800.933.4446
                             www.wealthengine.com
                             info@wealthengine.com



      Read more about WealthEngine’s Analytics for Nonprofits here.

wealthengine.com | Page 33

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The New Face of Prospect Development

  • 1. The New Face of Prospect Development 800.933.4446 | www.wealthengine.com | info@wealthengine.com
  • 2. Presented By Sally Boucher Director of Research, WealthEngine Institute Sally Boucher, CFRE, is the Director of Research at WealthEngine with a 15-year background in higher education, the arts, and human services development. She has provided professional services to hundreds of non-profit organizations. Sally is the primary author of the Growing Individual Gifts Workbook, the Best Practices for Prospect Research in Higher Education Fundraising Report, and a contributor to the Measuring Fundraising Return on Investment and the Impact of Prospect Research white paper. She regularly presents on analytics, return on investment, research and major giving. wealthengine.com | Page 2
  • 3. WealthEngine Helps Nonprofits Find the Right People for the Right Purpose Who are my best donors and prospects? Analytics allows you to draw conclusions and make informed decisions. What can I learn about these people? In-depth, contextual information to better understand each of your prospects. How can I find more prospects just like them? Leading tools to build your prospect pipeline and thoughtfully expand your reach. What strategies should I use to reach them? Customized insight and advice to develop and execute your fundraising strategy with precision. Fully integrated. Scalable. Best in class. Your results are ready. wealthengine.com | Page 3
  • 4. Agenda The Pulse of The Profession – How do we spend our time and what do we measure? What’s Trending? – What are the current trends and what are the skills we need? How does it all fit together? – Where does Prospect Development fit, and where do you fit? wealthengine.com | Page 4
  • 5. The Pulse of the Profession
  • 6. The Pulse of the Profession Survey Results from Summer 2011 Received 100 responses We asked questions about five main categories of work within Prospect Development – Reactive Research – Proactive Research – Prospect Management – Analytics, Data Analysis and Information and Data Mining – Supervisory and Management For each area, we asked – What are your responsibilities? – What goals/metrics do you track? – If you track metrics, what were your results? wealthengine.com | Page 6
  • 7. Survey Respondents _________________________ Organization Type Current Title Administration/ Data Entry 8.9% Other 15% Director 22.8% Health Care Analyst 38.0% Education 60% Manager/Superv 25% isor 30.4%, Director 23% Non-profit Education Manager/Supervisor 30% Non-profit Hospital/Health Analyst 38% Care Other Non-profits Administration/Data Entry 9% wealthengine.com | Page 7
  • 8. Salary Ranges of Respondents Over 50% of respondents fall into the $40K to $60K salary range Salary Ranges of Respondents $120,000 and above $90-99,000 $80-$89,000 $70-$79,000 $60-$69,000 $50-$59,000 Grand Total $40-$49,000 $30-$39,000 Below $30,000 Part-time No Answer 0% 5% 10% 15% 20% 25% 30% wealthengine.com | Page 8
  • 9. Areas of Responsibility What are your current What job responsibilities responsibilities? do you aspire to in 1-3 years? Development Information… Don't Know/Not Sure Same Major Gifts Development Information Systems/Services Special Events Major Gifts Stewardship/Donor Relations Special Events Annual Giving/Membership Stewardship/Donor Relations Planned Giving Annual Giving/Membership Corporate/Foundation Giving Planned Giving Corporate/Foundation Giving Data Analysis/Analytics Data Analysis/Analytics Business/Finance Business/Finance Prospect Management Prospect Management Prospect Research Prospect Research 0% 20% 40% 60% 80% 100% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% wealthengine.com | Page 9
  • 10. Time Spent in Key Areas 21%- 41%- 61%- 81%- Key Responsibility Area 0% 1%-5% 6%-20% 40% 60% 80% 100% Prospect Identification and Proactive Research 3% 6% 46% 33% 7% 2% 3% Prospect Research, Qualification and Reactive Research 2% 9% 19% 37% 18% 13% 1% Prospect Management and Tracking 10% 31% 29% 19% 0% 2% 0% Data Analytics, Data Management and Information Systems 15% 28% 27% 20% 3% 0% 1% Management and Supervisory 29% 23% 23% 10% 5% 1% 0% wealthengine.com | Page 10
  • 11. Metrics and Goals Tracked in Proactive Research Metrics/Goals Proactive Research Number of prospects identified for major gifts Amount of capacity identified (For example, 10 prospects at… Number of prospects identified by source (such as wealth screening, … Do not track metrics in the area of proactive research Number of prospects identified for corporate and foundation giving Number of prospects identified for planned giving Number of hours spent doing proactive research Number of prospects identified for annual fund Number of publications reviewed 0% 10% 20% 30% 40% 50% 60% 70% wealthengine.com | Page 11
  • 12. Metrics and Goals Tracked in Reactive Research Metrics/Goals Reactive Research Number of research requests completed Number of full research profiles completed Number of research requests received Number of proactively identified prospects research-qualified Number of event bios completed Number of corporate and/or foundations researched Number of research briefs or rating memo’s completed Number of corporate and/or foundation research requests … Number of event bios requested Amount of capacity qualified (For example, 10 prospects at … Average response or turn-around time for research requests Average time to complete full profile Do not track metrics in the area of reactive prospect research Number of research hours worked Average time to complete research briefs or rating memo's Average time to complete corporate/foundation research brief Average time to complete event bios 0% 10% 20% 30% 40% 50% 60% 70% wealthengine.com | Page 12
  • 13. Metrics and Goals Tracked in Prospect Management Metrics/Goals Prospect Management Number of prospects assigned to front line fundraisers % of portfolios in various stages (i.e, qualification, cultivation, stewardship) Do not track metrics in the area of prospect management Number of group or prospect management meetings attended Number of one-on-one meetings with fundraisers Amount of capacity under management 0% 10% 20% 30% 40% 50% 60% wealthengine.com | Page 13
  • 14. Metrics and Goals Tracked in Analytics and Supervisory Functions Metrics/Goals Analytics Do not track metrics in the area of analytics or data management Number of prospect lists for special events Number of prospect lists for planned giving Number of prospect lists of corporate and foundation funders Number of prospect lists for annual fund Number of predictive models created Number of predictive models deployed 0% 10% 20% 30% 40% 50% 60% 70% Goals/Metrics Supervisory Do not track metrics in the area of… Number of continuing education or… Number of staff supervised Number of staff training events conducted … 0% 10% 20% 30% 40% 50% 60% 70% wealthengine.com | Page 14
  • 15. The Bottom Line Many people are happy where they are within the profession. The key areas where there is desired movement are into major gifts and stewardship/donor relations. The most time is still spent in Reactive Research. Proactive is next, with Prospect Management and Data Analytics activities almost equal. Most organizations track similar metrics in each of the major areas. These are relatively few and the actual measurements indicate that either few are truly tracking them, or that the results are not widely shared within the team. wealthengine.com | Page 15
  • 17. What do you see as trends in the field of prospect development? “Increasing call upon the prospect researcher to lead in strategy development.” “Less emphasis on reactive research (i.e. profiles) and much more on prospect identification; use of analytic methodology.” “An increased focus on in-house analytics as a method of focusing fund raising efforts -- both on the annual and major giving fronts.” “Social media is making a difference and in many ways helps define who our audience is, especially in reaching different demographics.” Survey Says… wealthengine.com | Page 17
  • 18. What new skills are you learning or would you like to learn to help you keep pace with changes in the profession?? “Become more skilled at data mining.” “Data visualization - I just completed my first major data mining project, and the greatest challenge was conveying the information in an informative, revealing way.” “Keeping an open mind about Social Media availability, reliability and content.” “Just need more time to feel like I fully engage w/ social media, but what I've done has been helpful and in so many ways beyond fundraising.” Survey Says… wealthengine.com | Page 18
  • 19. Trends in Prospect Development Relational – More collaborative, consultative relationships – More proactive, less reactive – Work with broader range of departments Analytic – More emphasis on data-driven decisions – More need for analysis, data mining, intelligent list-building – Predictive modeling gaining traction – Data visualization – Business Intelligence – Measure and Report Return on Investment Social Media – Crosses all boundaries – Flattens hierarchies – Anyone can talk, anyone can listen – Makes surveys and other forms of market research accessible – Increases data by magnitudes – big data! wealthengine.com | Page 19
  • 20. Trends: Relational More collaborative/consultative relationship with front line fundraisers and more interaction with other departments including marketing & communications, annual giving and planned giving What Does it Mean? Where Do I Start? • More involved in strategy • Schedule one-on-one meetings development • Build trust and credibility • Collaboration on improving • Develop partnerships fundraisers’ success means greater • Ask questions impact on organizational success • Learn more about their job • Influence which prospects are • Educate more about your job seen, which are prioritized, when • Make others aware of your gift is received interests and skills • Broader interface across entire unit means more opportunities to learn more and contribute more wealthengine.com | Page 20
  • 21. Trends: Relational Less Reactive/More Proactive Research What Does it Mean? Where Do I Start? • Less time reacting to others’ • Document time for reactive priorities research • More time setting priorities • Data speaks – use analytic skills to • More time planning full strategies show relative value of time spent • Collaborate on improving • If you work with a fundraiser who fundraisers’ performance metrics takes a list and gets the job done • Changing MGO expectations, skill without a lot of details, use that as sets evidence • More big picture/less small details • Make your case to limit requests to • Reactive is not ever going away so tie to specific development stages do not despair if that is your • Prioritize requests based on passion! importance – not time in the queue wealthengine.com | Page 21
  • 22. Trends: Analytic Analysis, Data Mining, Segmentation, Predictive Modeling What Does it Mean? Where Do I Start? • More involvement in strategy • Think “analytically” development • Need access to data • Measurable impact on fundraising • Start with Excel, may progress to success (ROI) specialized software • Influences decision-making at • Start with small projects every level of the development • Build credibility with audience unit • Learn how to explain results • Benefits can accrue to any/all visually and in layman’s terms departments • Find a willing collaborator • Show the benefit – what’s in it for them? wealthengine.com | Page 22
  • 23. Trends: Analytic Data Visualization/Business Intelligence Return on Investment What Does it Mean? Where Do I Start? • Impact is enterprise-wide • Take analysis one step further to • Drives decision making represent visually • Communication with all levels • Need good communications skills • All working from the same page • Excel, specialized software, CRM • Underline critical and actionable • Know what message you are information promoting • Report and communicate successes • Define Key Performance Indicators • Straddles IS, Research, Marketing • Teambuilding wealthengine.com | Page 23
  • 24. Trends: Social Media and New Technologies Social Media/New Technologies What Does it Mean? Where Do I Start? • New sources and types of information • Facebook, LinkedIn • Verification and interpretation key • Get comfortable with the platforms • New data to feed analytics and list • Keep an open mind building • Join your organization’s online • Enterprise-wide activity communities • Research opportunities • Join other communities that are • Listening opportunities (market relevant to your mission research) • Understand your organization’s • Responding opportunities policies or guidelines • Engagement opportunities • Listen and respond where • Talking to your donors and supporters appropriate yields better understanding and more • Surveys effective work • Experiment with analytic tools: Google analytics, Simply Measured, Sprout Social, Hootsuite wealthengine.com | Page 24
  • 25. The Changing Paradigm • Prospect Development is widening and deepening. • More data means more and Front Line Fundraising deeper insights. More data Development Major means more expertise Leadership Planned needed to extract, verify, Annual interpret and translate it. • The things Prospect Development is doing are touching more Communicatio departments and crossing Prospect Information more boundaries. ns and Development Systems Marketing • All of the trends are pointing to more strategy development, more influence in more areas, and more measurable impact. wealthengine.com | Page 25
  • 26. What is your impact? Shorter time to Identified Donor cultivate and close Higher Gift Amount Alert improved timing More Gift Officer More Donor Satisfaction (ROPE) Satisfaction •Fewer “cold” calls •Started relationship •Larger Gift Amount from a more •Easier to build enlightened position relationship and •Involved in more engage prospect meaningful ways •Improved ability to get •Asked for appropriate referrals amount and type of Identified gift •Stirred Passions Natural Partner •Attended to interests wealthengine.com | Page 26
  • 27. Measuring Value What Are The Best Metrics? Number of prospects ID’d? Number of profiles completed? Or, number of gifts touched? Number of PD “influences” during the gift cycle? Time from ID to Close? Ratio of % of capacity ID’d/asked/received? Number of calls it takes a gift officer to get an appointment? Success of marketing/annual giving outreach based on list testing – improved response rates, average gift size, renewal rates? Is it all ROI? What about ROE? What about ROPE? wealthengine.com | Page 27
  • 28. Where Do You Fit?
  • 29. Holland’s Six Personality Tendencies Who Do You Enjoy Working With? Enterprising Conventional Entrepreneur E C Banker Business Executive Bookkeeper Salesperson Secretary Travel Agent Data Computer Programmer Manager Financial Analyst Buyer Tax Preparer Social Realistic Religious Worker Auto Mechanic Clinical Psychologist S People Things R Aircraft Controller Speech Therapist Electrician Nurse Farmer Counselor Surveyor Teacher Ideas Artistic Investigative Actor Geologist Composer Chemist Musician A I Physicist Designer Laboratory Assistant Interior Decorator Medical Technician Dancer www.BusinessModelYou.com Biologist wealthengine.com | Page 29
  • 30. This is a GREAT time to be in Prospect Development 1. Determine : •What you are good at •What you enjoy doing •Who you enjoy working with 2. Be proactive and think outside the boundaries 3. Talk with colleagues and make sure they know what you want to do and where you want to go 4. Look for continuing education opportunities 5. Look for ways to start small and grow skills 6. Always think about how what you do adds value to your colleagues, department and organization wealthengine.com | Page 30
  • 31. More Wealth and Fundraising Intelligence
  • 32. Knowledge Center & Thought Leadership We support innovation and advancement in the field… Growing Individual Gifts Workbook Tools you need to grow your fundraising results ProspectResearchResources.com Free tools for every research request WealthEngine Institute Free education, knowledge sharing and networking wealthengine.com | Page 32
  • 33. Questions? Contact Us! If you’d like to learn more about how you can implement data driven solutions in your nonprofit, contact us! 800.933.4446 www.wealthengine.com info@wealthengine.com Read more about WealthEngine’s Analytics for Nonprofits here. wealthengine.com | Page 33