Three ways Prospect Research can propel Fall Fundraising goals
Dear Diary,
It's Fall! The leaves are slowly turning shades of auburn and brown, and falling; the weather is becoming slightly chilly; and it's getting dark earlier in the day.
This also welcomes the beginning of the Fall Fundraising season! So, instead of cuddling up with a good book and a pumpkin spice latte or watching holiday movies in preparation of the holiday season - fundraisers are cuddling up with spreadsheets, their CRM, and having consistent meetings with their Development team about end-of-the-year appeals. Everyone is buzzing with questions like "Who have we not yet engaged?!"
"Who do we NEED to engage!?"
"How are we communicating our mission?"
"What is our goal for the end of the year?"
"How can we make our social media presence for Giving Tuesday stronger?"
And it continues...but what if there were three helpful ways Prospect Research could help propel Fall Fundraising goals!? Let's begin!
1. Prospect within queries.
As you're pulling multiple queries during this season, take time to prospect within your queries based on giving levels or campaigns. By taking a deeper dive into these lists, you are allowing yourself to reflect and study your donor base. So you can answer,
Who gives to my organization?
And what are the giving trends?
Take this time to look at the donations from the previous year’s appeal using a LYBUNT (Last Year But Unfortunately Not This year) report, so to see how you want to set this year’s goals. You can also note visible fluctuations in giving over a specific time period for a specific campaign, and whether key donors steered the tide in giving. Have you conducted research on your key donors recently? Or dare I say ever?
2. Utilize research strategically while putting together a Giving Tuesday plan!
Yes, the day of giving that everyone preps for; the day that many people "side-eye"; the day that we all get to see the power of individual giving and saying thank you. As you prepare for Giving Tuesday, make sure that if you include a specific ask to your appeal for specific people; that you know their capacity. Do not ask the donor that has given $500 a month ago, for another $500. If you've done your research, then you know their capacity. Can you stretch them based on what you know, and comfortably make an ask of $1,000 towards something that they feel passionate about? Or encourage them to become recurring $500 monthly donors? Try something new.
3. Make sure appeals are speaking to the right people.
Not every appeal is for everyone. Make sure you're thinking strategically and segmenting your lists so the appeal is geared to the right audience. You should also state how much the donor has previously given. And thank them for it. Include details that make your donor feel special, for example, conduct your research and include a handwritten note on the side, congratulating them on their new job or promotion, or say how fantastic it is to learn that they sit on the board of X organization. Certain biographical or business information that you learn from research can add a personal touch to your appeal letter to a current donor.
Finally, as the holiday season approaches with its year-end pressures, make sure your goals are realistic. And then, make a checklist that will help you achieve your goals. We all know that time is not on our side, but make sure you are taking full advantage of it. So, embrace this new season nonprofiteers, and all of your fundraising needs with research in your toolbox of strategies.
Until next time, November 15!
