Well, there is always a requirement of a steady stream of the donor in any organization including profitable and non-profitable. It is mandatory for one to search a potential customer, client, donor, etc. These are the primary things in the field of prospect. The ultimate goal, however, remains same and that is to pass the prospects through the funnel to eventually generate revenue.
Before getting into the details, it is very important and mandatory for one to understand that as important as it is to find a new prospect, the equal importance is needed for keeping and putting up with the donors that are already present.
So, here is all the detail upfront for the constant and regular streams of prospects along with how to get them.
Importance of New Prospects
It might so happen that an organization can have a huge file-related and concern the donors. It is obvious for organizations like AeroLeads, Leedfeeder to have a lot of donors every year along with a fantastic outgrowing and bounded plan to keep them intact in their position. Even, if that is the case, there is still a need for new prospects.
Another very obvious thing to happen concerning the fact about donors is that most of the time they fall on the list of priority. There are several problems that cause the downfall like moving away, switching priorities, and also losing up their jobs. There is a zillion of reasons for the donors to give what they are actually giving. The only way for an organization to continue growing is to replace the old ones with the new.
It might also happen that the profit served on the plate is less. However, there is a bigger perspective and a proper vision to look into things and plan minutely for the future. In order for the dreams to come true, it is necessary to accomplish the dreams into reality and for the same, funding is necessary. This can be taken care by giving chance to the bright and individual donors.
Factors responsible for better prospect
It is wrong to put a blind trust on anyone and considering it a prospect for the organization. Everything in the world is not bread and butter and it becomes very difficult for one to understand the concept of a prospect at some time.
It is a very wrong idea to think of everyone as a prospect and expecting something out of them. This will lead to wasting a lot of people’s time and cultivating them for something they are not designated to.
For an organization to find and shake hands with an actual prospect for an organization, there are just three main rules to follow which are.
- The profile of the organization must match with that of the person. This brings into conclusion that the person must have an interest in the work and should be ideal and similar to other donors residing inside the organization.
- The nature of “Giving” must reside inside the person and he must have a capacity to give. This can be better explained in the manner that, the advantages that they bring forward for the organization and the level must be worth the time which must equal the energy and enthusiasm that is put forward to cultivate and bring forward the best in them.
- The person must be within a certain reach of the organization i.e. the organization he is currently working for. This also means that there must be an easy way to consult with the prospect at whatever time it feels necessary. It is not necessary for calls and letters to do their job in an efficient manner. On the contrary, the referrals that are in full support of the organization are also a great tool to make new contacts with the prospects and serve with new donors.
The right place to look for prospects
There are plenty of ways to find good and fundraising prospects for any successful organization. The best way is to do the same is through referrals from the present and the most current donors, staff members, officers and other different supporters.
The ones who have good salespeople in their vicinity seek the people in their community for and ask other customers for referrals. There is nothing surprising in the fact that can be observed while taking into account the fact that how often and easily are current customers referred to the salesperson. In fact, in many cases that have been observed so far in the field of business and insurance, the referrals are responsible to make a majority of business every year.
Other ways leading to prospects
Apart from referrals, there is any other ways find a prospect. Another magic that eventually works out is “non-ask” event.
A non-ask event basically targets the donors and prospects and are least concerned with any fundraising cost or admission for the same. The non-ask events are also sometimes called as Introductory Events or Point of Entry Events. The main primary motto of these events is to introduce and bring forward new prospects in the organization without asking for any sort of money.
The follow-up is the biggest fortune for the non-ask events. Once a prospect spends his time and attends an event, he is completely free to follow up with them and walk down the path leading all the way to the donor who requires asking.
Prospect – Know the rules
As there is an intent to increase the base of the prospect, it is important to keep in mind the very basic and fundamental rule of fundraising; which is there is always a need to first “cultivate” the donors before asking. This directly means the fact that before jumping to conclusions like “making an ask”, it is important to have an in and out vision of the donor keeping aside the enthusiasm of the prospect.
The only one aspect of that never changes is the “countdown”, Tick and Tock are pretty common every week of the month.
Hence, keeping the big ideas in mind, it is better to keep lifelong relationships with the donors apart from believing in scoring off quickly.