Home – 5 Signs You Need a More Powerful Prospect Research Solution

5 Signs You Need a More Powerful Prospect Research Solution

Posted on 07-21-2018 by Lindsey Lambert

As a prospect researcher, your organization depends on your findings to inform fundraising efforts. But how do you know if your chosen prospect and donor research tool has everything you need and isn't leaving anything on the table?

After all, outdated, inaccurate or incomplete prospect information can leave you at risk for lost money, time and even relationships.

Consider these 5 questions as you approach your donor research this summer.

1. Do your fundraising communications miss their mark due to high email bounce rates, returned mail or other inaccurate or missing information?

Take advantage of data validation services to cleanse and append your prospect database with up-to-date home and business mailing addresses, phone numbers, and email addresses, as well as marital status and other data related to giving potential.

2. Do you feel you have adequate time and human resources to devote to comprehensive donor research?

Your prospect research platform needs to be able to aggregate premium and web news, public records, company and executive information and wealth indicators to conduct in-depth prospect research more efficiently.

3. Can you easily create targeted prospecting lists and generate in-depth profiles of individual and corporate donors?

You should have a tool that allows you to select specific search criteria- such as high wealth zip codes or giving histories- to supplement your current donor database and improve fundraising effectiveness. 

4. Do your current tools allow you to conduct thorough donor screening that quickly reveals potential risk factors such as criminal activity, financial instability, conflicts of interest and negative press?

It's important to have a tool that provides access to critical public records and legal data, as well as alerts for breaking news about key donors or your organization, to mitigate risk more effectively.

5. Do you currently depend on multiple tools to stay informed of news or changes affecting prospective or current donors to identify opportunities and risks that could impact your organization? 

On average, alumni give more than 25 percent of charitable donations that universities receive annually. As a result, you need to nurture alumni relationships on an ongoing basis.There a great tools available to receive timely email notifications—on the schedule of your choosing— when alumni or donors appear in the news. Mentions of career changes or special achievements represent great, organic opportunities for your development team reach out to alumni and donors in a positive way.

Did you find yourself saying no to one or more of these questions? Then check out the Prospect Research Buyer's Guide Below. This guide will show you what you need to know before selecting a prospect research platform and help you mitigate the risk of your current one.

For more ways to conduct thorough prospect research with ease using a comprehensive set of news, company and public records data, all in one place check out   

And vist Nexis® for Development Professionals online!

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