Advanced Prospect Cultivation in The Raiser’s Edge ® Daithi O’Flaherty
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Information everywhere! No single strategy for Prospect Development Knowing where are we in the process? Accurate forecasting Reporting
Universal Issues……..
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What is PRM? What are its goals? Who is involved? How we use The Raiser’s Edge to manage PRM? Suggestions for starting/improving your PRM
program
Prospect Relationship Management……..
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Can you can name your top 25 prospects?
Prospects……. A question…….
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A prospect relationship management system provides the key quantitative data for fundraiser accountability and helps both fundraisers and management ensure efficient use of time and resources
A PRM Definition
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Why have a PRM system? Improve communication
- Internally between staff members, b/w staff and volunteers, b/w staff and leadership
- Focus our activities around most likely prospects Move prospects through the development
cycle Serve as management tool
- Responsible for the effort, not just the outcome Provide institutional memory for future
cultivation, solicitation and stewardship Lead to long term relationships and joyful
donors who want to give again and again
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Who are the players in your PRM system? Leadership and Volunteers
- Customer- Motivators
Management- Analysers- Ensure Accountability
Data Management and Reporting- Data integrity- Reporting- Training
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Who are the players in your PRM system? Researchers
- Gather and Inform- Populate Raiser’s Edge with external data- Repurposing data for tracking purposes
Major Gift Officers - Enter data- Create strategy- Review reports- Take action
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Development Cycle Stages
Identification
Cultivation
Solicitation
Stewardship
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Identification Research Strategy Cultivation Solicitation Negotiation Stewardship
Moves Management…….
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Prospect - includes existing donors Moves are Actions Assigned Canvasser:
Day-to-Day Management Strategic Management Making the Ask
Key terms…….
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Reports Top Donors Report Consecutive Years Report Recent Gifts Panel Analysing existing data Screening and modelling Prospect research Staff, Board Members, Volunteers
1. Identification…….
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1 - Identification...... What and where information is stored
Relationship Tab
Prospect Tab “RE Search”
Information Assigned canvasser(s)
(prospect manager), key connections, family, friends, businesses, Trusts, etc.
Prospect ratings, financial information, other philanthropic giving, philanthropic interests
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1 - Identification
Create record Mark Prospect
Classification and Status
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1 - Identification
Prospect Review meeting– Run reports using criteria of Prospect Status = “1-Identification”– Review prospects– Drop prospect or assign to “2-Research”
Drops, now or later– Change Status to “Dropped”– Add a constituent note explaining reason for identification and dropping
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1 - Identification - Dropped
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2 - Research Put results into appropriate RE fields, not into Notes
- Family and friend information into individual relationships- Work history and religious and community involvement into
organisation relationships- Education history into education relationships- Wealth and giving information into Prospect Tab- Use multiple Note Types
Assign initial ratings- Capacity- Propensity
When research is complete, change Status to “3-Strategy”
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2 - Research
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3 - Strategy
Prospect Strategy meeting- Run Reports based on Status of “3-Strategy”- Assign moves manager/prospect manager
Determine- Funding purpose- Projected Ask amount- Anticipated ask date- Natural partners- Primary and secondary players- An Action Plan (Action Tracks?)- Last Action should be solicitation
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3 - Strategy
After plan has been created- Update Status to “4-Cultivation”- Assign prospect manager and other partners as assigned
canvassers- Create proposal- Proposal = Opportunity- Enter actions – on proposal’s action tab
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3 - Strategy
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4 - Cultivation
Work moves/actions- Use RE dashboards and reports for actions and proposals- Update actions with contact reports- Update constituent record with new information- Add and modify future actions to refine strategy- Update and modify proposal
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4 - Cultivation – Canvasser Activity Panel
A Canvasser Query Panel
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4 – Cultivation. The Canvasser/Team Campaign Performance Panel
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4 – Cultivation. The Prospect List Panel
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4 – Cultivation. The Constituent profile Report
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4 – Cultivation. Canvasser Performance Analysis
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5 – Solicitation.
When cultivation is complete and next action will be solicitation:• Change Status to “5-Solicitation”• Update solicitation action• Update proposal
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5 – Solicitation.
Make ask
• A “Yes” - Update action- Update proposal- Add gift, linked to proposal- Continue with Stewardship stage
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5 & 6 – Solicitation/Negotiation
• A “Maybe” (or any response less than “Yes,”)- Change status to “6-Negotiation”- Add necessary actions- Update proposal
• A “No”- Update actions- Update proposal- Change Status to “Dropped”- Need to determine next steps with prospect
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7 – Stewardship.
• Change Status to “7-Stewardship”
• Create and work a Stewardship plan of actions linked to proposal
- Recognition- Thanks
• At “conclusion” of Stewardship phase, determine next steps for prospect
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Other Issues
“Protecting” prospect from other development officers and mailings• Opening constituent rule warning?• Add Prospect Classification and Status to
suppression queries
Measuring development officer activity and performance• Action Summary Report• Proposal Pipeline Report and Dashboards
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Supporting the Plan.
• Requires leadership• Requires Development Officer buy-in and
cooperation• Requires decision making
Don’t “let the tail wag the dog”: your setup and use of The Raiser’s Edge should support your fundraising methodology, not vice versa
• Requires follow-through• Do not make this more detailed than development
officers will record and use
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Without RE Search
• Prospect Status and Classification Constituent Attributes
• Philanthropic Interests/Will Not Give ToConstituent Attributes
• Gifts to Other organisationsOrganisation relationships/Attributes and Constituent Notes
• Relationships• Financial Information
Attributes (range) Notes• Proposal
Actions, Action Notes and Media• Ratings
Constituent Attributes and/or Notes• Chronology
Constituent Profile
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Questions?