advanced prospect cultivation in the raiser’s edge · advanced prospect cultivation in the...

Advanced Prospect Cultivation in The Raiser’s Edge ® Daithi O’Flaherty

Daithi O’Flaherty | Page #2

Information everywhere! No single strategy for Prospect Development Knowing where are we in the process? Accurate forecasting Reporting

Universal Issues……..


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……..


Can you can name your top 25 prospects?

Prospects……. A question…….


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


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


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


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


Development Cycle Stages

Identification

Cultivation

Solicitation

Stewardship


Identification Research Strategy Cultivation Solicitation Negotiation Stewardship

Moves Management…….


Prospect - includes existing donors Moves are Actions Assigned Canvasser:

Day-to-Day Management Strategic Management Making the Ask

Key terms…….


Reports Top Donors Report Consecutive Years Report Recent Gifts Panel Analysing existing data Screening and modelling Prospect research Staff, Board Members, Volunteers

1. Identification…….


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


1 - Identification

Create record Mark Prospect

Classification and Status


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


1 - Identification - Dropped


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”


2 - Research


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


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


3 - Strategy


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


4 - Cultivation – Canvasser Activity Panel

A Canvasser Query Panel


4 – Cultivation. The Canvasser/Team Campaign Performance Panel


4 – Cultivation. The Prospect List Panel


4 – Cultivation. The Constituent profile Report


4 – Cultivation. Canvasser Performance Analysis


5 – Solicitation.

When cultivation is complete and next action will be solicitation:• Change Status to “5-Solicitation”• Update solicitation action• Update proposal


5 – Solicitation.

Make ask

• A “Yes” - Update action- Update proposal- Add gift, linked to proposal- Continue with Stewardship stage


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


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


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


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


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


Questions?

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