In a previous article we discussed the importance of extensive Prospect Research. Proper donor research is a great tool for indicating a person’s likelihood of donating, as well as accumulating background information on potential major donors.
If your donors are in the United States a subscription to DonorSearch or WealthEngine is invaluable in discovering not only prior giving, but assets, board memberships, political giving etc.
However, even for those donors outside of the United States, where we don’t have the resources of a wealth screening platform to help us, spending time on a web search can yield great results.
The first place to start is with Google. A simple search is a great way to get started with your donor research, especially if you already have someone in mind. It’s amazing what information can be discovered on the web, in an era where much information is publicly available.
LinkedIn can be especially useful for finding valuable professional connections that your prospects have, such as their employer or business partners.
Facebook and other social media platforms can reveal information about prospects’ personal interests and values.
If you would like to connect with those donating to similar organizations, a great resource is Guidestar (some countries outside of the United States, such as Israel, have their own Guidestar websites). By perusing the tax forms for other nonprofit organizations you can find their major donors and start building relationships.
By researching your donors, you could find that their ability to give is far greater than their current giving levels. Take the time to really analyze the information you find, and how to use it to the benefit of the organization.
Perhaps you will discover that a potential donor is a huge soccer fan - and it just so happens that your colleague happens to support the same team and would be the perfect person to initiate a meeting.
Or perhaps you will discover that several years ago a donor gave a large amount of money to a particular organization but then appeared to freeze future donations. Try to find out why - did this nonprofit organization cease to be a good fit for the donor? Why? Could your organization be a better fit?
As you become more comfortable with prospect research and using the information wisely, you will look forward to approaching potential donors from a position of strength.
A non-profit fundraising consultant, I have learned there is no such thing as one-size fits all. Each organization has its own dynamic needs and my goal is to help your organization move to the next level and turn your vision into donations. You can contact me at suzanne@suzannelieberman.com; let’s start a conversation.
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