A Field Guide to Prospecting Within Your Database

By: Jennifer Turner, Senior Consultant

Over the years, I’ve written several blog posts about prospecting. The focus of these posts has always been identifying new prospects when you don’t have an existing database to rely on. You might think that if you have a database, your job is done for you. For example, do you need to assign a new gift officer a portfolio? No problem – just pull some names from your database! But wait – the database contains thousands of names!

So how do we ensure that we are finding the best names possible? Furthermore, how do we make sure there aren’t any hidden gems slipping through the cracks?

Here are some steps you can take to make sure you are identifying the top names from the thousands of possibilities:

1. Constantly check to see who is making new gifts. This can be done daily or weekly. Pay special attention to first time givers. Spend a few minutes quickly assessing how much they can give, even if their first gift is only a small amount. Sure, it may be easy to overlook a prospect who gives your organization only $100 to start, but maybe they are starting out small as a “test” to see how your organization handles stewardship. They may, in fact, be sitting on piles of wealth, but don’t want to invest in your organization too quickly. Added bonus: It’s nice being one step ahead of your gift officer by making them aware of the donor’s potential before they even have a chance to acknowledge the new gift.
2. One of my clients adds new batches of names to their database every couple of weeks (in batches ranging from 50-100 names). Part of my job is to scroll through these names to see if any standout as high net worth individuals. Don’t wait for these new prospects to (maybe) make a gift – flag them early on so your gift officer can start grooming them to make a gift later.
3. Look for patterns in giving. Here’s where it helps to have a good relationship with your report pulling gurus. Perhaps this is something you can do on your own, but if not, ask your database team to pull some reports that seek to highlight giving trends. This could be something as simple as a list of prospects who have made gifts over the past five consecutive years. Don’t worry about the size of these gifts. In this case, we are looking at consistency as a means of demonstrating inclination and devotion to your organization. Maybe that prospect is only capable of making small gifts right now, but who knows what lies in their future? Maybe their company is about to go public. Maybe they come from a wealthy family and sit on the board of directors for the family’s personal foundation (which, with any bit of luck, will eventually be turned over to them). Either way, they’ve already proven their inclination to give to your organization and deserve taking a closer look at.
4. Back to those database friends – how about creating a report that focuses on job titles? Ask for a list of anyone in the database with the title “CEO”, “President”, or “Owner.” Job title alone can be an indicator of wealth, thereby giving you a quick method of finding potential new prospects right at your fingertips.
5. Sometimes I get asked to find new prospects in a specific geographic region based on a development officer’s travel itinerary. This can be a great opportunity to find additional high net worth individuals that may have been overlooked in the past. I continue to be amazed by the new names of wealthy prospects that surface using this method.

Not every researcher has access to a database which they can constantly use to find new prospects. However, those that are fortunate enough to have one (such organizations with alumni and grateful patients), cannot be complacent. It is still important to use as much thought and strategy when looking for new names within the database as you would if you were building a database of prospects from scratch. Think of it as looking for a needle in a haystack, only you have these strategies as threads to guide you!