The Art of Donor Research: A Guide by Expert Nonprofit Consultants
A significant proportion of nonprofit fundraisers’ revenue comes from donors. So, they have to maintain a good relationship with high-capacity donors. But, finding potential donors for your nonprofit organization is time-consuming and challenging. Donor research or prospect research is a way to collect details of donors who will help you with your nonprofit business.
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Consider Affinity And Capacity Markers For Donor Research-
Wealth markers or capacity markers are information on whether the donor has a strong financial status. Some common capacity markers are stock holdings and real estate ownership.
On the contrary, warmth or affinity markers reveal the donor’s interest in working with an organization based on its mission. Some affinity markers are personal details, demographics, professional connections, and donation history.
Strategies to Search For Donors-
Go through these main steps to look for donors for your nonprofit agency.
Make a Potential Donor List-
The fundraising process is important for nonprofit businesses that need to sustain their operations and achieve their goals. The most significant step is to find a list of donors. You can create the list based on different sources like online directories, public records, and databases.
Many nonprofit agencies have a record of current and past donors (such as donation history and contact numbers). The data is used for making the potential donor list. You’ll need to segment the donors depending on the donation levels and frequency. If you have a donor network, you can leverage it to find the best donors.
You can also access public records, such as business directories and lists of voter registrations. These records give you demographic details like occupation, age, and income.
Browse Google to Conduct Donor Research-
Google lets you conduct donor research because the engine provides vast information related to major donors. You can simply type in the donor’s name and find the relevant details. Google Images also lets you identify the donors and learn about their philanthropic interests.
Read News Articles To Find Your Nonprofit Agency’s Donors-
News articles can be the best source of donors’ information. So, analyze the relevant news and have insights into the donors’ activities or interests. Use the information to build a rapport with donors.
Many industry publications reveal details of potential donors. You may also check local TV channels, online news platforms, and newspapers to get the donors’ news. Consider these news sources to research donors.
Access The Social Media Platforms-
The best social platform to find donors is LinkedIn, where they have revealed their professional interests, educational backgrounds, and careers. You will learn about the types of agencies these donors have worked with. However, you may also use other social platforms to find the relevant information.
These are some ways to check donor profiles and make your fundraising effort successful. Fundraising is a way to raise funds for your nonprofit businesses. As it needs considerable effort, you can look for professional fundraising services. There are some organizations that will help you with your fundraising activities. Many nonprofit consultants recommend using these services to save time!