Retaining DSPs - Presentation 4 - John Sauer MSW and M Ed Institute on Commun...
CASEPresentation
1. Prospect
Development
What is it,
exactly?
What does a
successful
Prospect
Development
System look
like?
Developed & Presented by Kristen Meierhoff
Prospect Manager, Kansas State University Foundation
PRESENT FOR CASE DISTRICT VI PRE-CONFERENCE
SESSION, 2016
2. What is Prospect Development
What is Prospect Development?
My answer: “Prospect development is the combination of research,
and donor analytics, and prospect management, all of which help
guide effective solicitation strategies.”
What’s a success system?
A successful system is one that collects data, systemizes and shares
research, tracks prospects, conducts analytics, and derives
strategies for moving prospects through the gift cycle.
3. Prospect Research
What is Prospect Research?
Research includes: biographical info, capacity calculations,
inclination information, and the relationship history with your
University. It also includes prospect identification. Research is the
foundation of prospect development.
How is it useful to your organization?
• Informs frontline development staff.
• Capacity and inclination.
• Can help with solicitation timing.
• Assists in building relationships with donors.
4. Data/Donor Analytics
What is Data Analytics?
Analytics includes statistical projections that aid in the prediction of
future giving based on patterns stored in your database.
How is it useful to your organization?
• RFM – recency, frequency, and monetary value
• Predictive Fundraising Models – who at this time is a good
prospect for certain gifts. Additionally, who else is in our
database that looks similar?
• Predicting likelihood as well as capacity.
5. Prospect Management
What is Prospect Management?
• An evolving field within fundraising, and no consistent definition, but consistent
themes.
• Ultimate goal is to use Prospect Development to move prospects through the
gift cycle.
• Relies heavily on the principals of Moves Management
• My answer: Prospect Management is the process of strategic planning,
database tracking and reporting of significant prospect “moves” throughout the
gift cycle.
Q. How is it useful to your organization? A. It moves gifts!
• Generate reports for senior management.
• Inform and help guide frontline development officers.
• Feeds data analytics and predictive modeling. Ex. How long does it take to move
X type of donor through the gift cycle? How many touches does it take to move
from one stage to another and close the gift?
11. Prospect Development Meetings
Agenda:
• Maintenance report
• Strategy for travel
• Strategy for top prospects
• Screening new names
• Qualifying / disqualifying names
• Developing cultivation and solicitation strategies
• Determine next steps
• Adjust existing strategies
*Talk about it from both the perspective of development and
advancement services; two discussions for each agenda item.
12. Prospect Management & Development
Small Shop
• Essential features
• Moves Management
• Tracking Moves - analytics
• Prospecting
• Research – bio and identification
• Portfolio Management
Large Shop
• Essential Features – all of the above *plus:
• Portfolio maintenance & balance
• Prospect Development meetings
• Strategy (travel and individual)
CREATING SUCCESSFUL SYSTEMS
13. • Data driven strategy: Portfolios
– Travel
– Individual prospect
– Increase in ROI
– Data analytics to find potential prospects
• Individual prospect strategy
– Research analyst / Prospect manager / Development
officer drive
– Incorporation into meetings?
– Who drives individual prospect strategy
Issues within Prospect Development
Addition of Strategy:
HOW MUCH & WHAT KINDS???
14. • Proposals
– When do you enter a proposal?
– Why is entering a proposal sooner better in the field of
Prospect Management?
• Crediting of Planned Giving Officers
– Half and half?
– 100% and 100%?
– Institutional culture influences this decision strongly.
• Disqualification moves
– How are you using it?
– General consensus appears to be that no one should be
permanently disqualified.
Issues within Prospect Development
Hot Topics:
15. Presented by Kristen Meierhoff
Prospect Manager, Kansas State University Foundation
kristenm@found.ksu.edu
Or
Kristen.Meierhoff@gmail.com
Questions & Answers?
