What is Prospect Research?
Prospect research can help an organization to:
- Find new prospects who match its mission and vision
- Segment and prioritize prospects based on their potential and likelihood to give
- Develop customized 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
What value can Prospect research add to an organization?
- Increasing the efficiency and productivity of fundraising staff
- Enhancing the quality and accuracy of donor data
- Improving the return on investment of fundraising campaigns
- Reducing the risk of donor attrition and dissatisfaction
- Strengthening the reputation and credibility of the organization
Prospect research is an essential component of prospect development, which is the strategic management of the donor pipeline from identification to stewardship. By conducting prospect research, an organisation can optimise its fundraising potential and achieve its goals.