Today’s innovative prospect researchers are more focused on making business impact via informed decisions based on research, fact and business intelligence than ever before. In this session, learn about the direction in which the field of prospect research is moving, with the addition of social media and increased focus on data, analytics and ROI. This session will discuss the skills necessary for the prospect development professional, the “business intelligence agent," of tomorrow. Discussion will include how we spend our time, what is trending, and how to understand, measure and demonstrate the impact of prospect development in the context of nonprofit development. Prospect researchers are no longer the deckhands and are now steering the ship. Make sure that you are on the cutting edge of this shift.
Building Strategy Using Data-Derived Insights: Major Gifts
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.
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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.
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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?
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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?
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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%
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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%
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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%
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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%
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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%
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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%
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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%
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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%
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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.
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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…
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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…
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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!
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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
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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
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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?
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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
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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
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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.
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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
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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?
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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
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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
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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
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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.
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