WHAT IS PROSPECT RESEARCH? Prospect research is the process of identifying, analysing, and evaluating potential donors or supporters for an organisation. It involves gathering and interpreting information from various sources, such as databases, websites, social media, publications, and personal contacts, to assess the prospect's philanthropic interests, giving capacity, affinity, and readiness to give. Prospect research can help an organisation to: |
Find new prospects who match its mission and vision | Segment and prioritise prospects based on their potential and likelihood to give | Develop customised cultivation and solicitation strategies for each prospect |
Track and measure the effectiveness of fundraising efforts | Build and maintain long-term relationships with donors and supporters |
THE VALUE OF PROSPECT RESEARCH & DEVELOPMENT
Prospect research translates data into actionable insights that help organisations identify, prioritise, engage, and steward supporters more effectively. It enables organisations to build stronger donor relationships, increase revenue, mitigate risk, and maximise organisational goals and can:
- Increase the efficiency and productivity of fundraising staff by helping them prioritise prospects with the highest likelihood and capacity to give.
- Enhance the quality and accuracy of donor data through ongoing verification, enrichment, and data governance practices.
- Improve the return on investment of fundraising campaigns by supporting targeted cultivation and solicitation strategies.
- Reduce the risk of donor attrition and dissatisfaction through more personalised engagement, stewardship, and relationship management.
- Strengthen the reputation and credibility of the organisation by supporting informed decision-making and appropriate due diligence.
- Identify major gift, corporate, foundation, and campaign prospects that align with the organisation's mission and strategic priorities.
- Support leadership and fundraising strategy with evidence-based insights that inform portfolio management, campaign planning, and resource allocation.
- Uncover networks and relationship pathways that can facilitate introductions, advocacy, and philanthropic support.