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By chris

With the rise of the internet and social media, it’s possible to find information about almost everybody and everything. Whether you’re collecting data on a new renter, a potential employee or a prospective donor, knowing which information to use is important.

Fundraisers have an array of tasks, but learning all they can about their donors in order to build and cultivate relationships is among the most vital. From their home address to their financial investments, collecting important data about donors can help nonprofits build rapport, as well as discover their next major gift donors.

Different kinds of data can be discovered in a multitude of ways, but two of important sets of data are wealth information and personal information.

Wealth Information:

Knowing a donor’s financial information can be extremely beneficial, specifically when planning upcoming campaigns and fundraisers. This information is often available through wealth screening.

Wealth screening helps give your organization a picture of your prospects and their financial situations so that you know how to appropriately solicit them for gifts. Wealth screening can also help you find your next major gift prospect.

Important information to look for from wealth screening includes:

  • Giving history: Knowing where a prospect has donated, how much and how frequently can give you an idea of how philanthropic they are and what types of organizations they support, as well as the typical gift amount that they make.
  • Investments: Does the prospect own a yacht? A home? A business? Stocks? Knowing a donor’s investments – how much and where they’re allocated – can help you determine their financial standing, as well as their interests.
  • Business relationships: A particular donor may work for a company that is active in the nonprofit world, and that could be a great opportunity for your organization. If the prospect’s company makes frequent gifts to charitable organizations or makes matching donations, the prospect may be a great gateway into the organization’s philanthropic involvement.

Click here to check out DonorSearch’s white papers about prospect research!

Personal Information:

Having up-to-date personal information about your donors is just as important as knowing their current wealth status. Knowing how many children they have, their anniversary, hobbies and interests can help you establish a personal relationship and build a positive reputation.

By discovering commonalities or having a conversation with prospects about something that interests them, you are no longer just soliciting, but building a personable relationship that allows you to interact with donors on a more intimate or private level.

Here’s some important personal information to know about your donors:

  • Previous attendance at events: This helps you establish their involvement in your organization’s mission, and gives you something to talk about when you are calling to solicit for an upcoming campaign.
  • Interests and passions: If your organization’s mission is to combat animal cruelty, and the prospect has a passion for helping animals, they are probably a great fit as a donor. However, if their passion is helping underprivileged children, they may not be interested in your campaign. This is important to know as you solicit, and something you can find out by having conversations with your prospects.
  • Family: Find out how many children your donor has, when their anniversary is and what they like to do as a family. These are great talking points when you call them up for your next campaign, and also gives you the opportunity to send birthday and anniversary cards.

According to Pursuant.com, “Today, successful fundraising requires a commitment to doing everything possible to learn all you can about your donors so you can be more effective in your communication and solicitation.” Having a range of data, whether generated from wealth screening or personal communication, is vital to the success of your fundraising campaigns.

Click here to check out DonorSearch’s white papers about prospect research!

This guest post was written by Alyssa Kadansky. She is the marketing communications specialist at Metafile Information Systems, the parent company of ResultsPlus nonprofit CRM software. ResultsPlus helps fundraisers design and implement major donor cultivation strategies, foster recurring gifts programs and segment constituents.

Alyssa is responsible for managing Metafile Information Systems’ public relations, including social channels and editorial for media outlets. She works closely with a team to generate informative content and marketing collateral to deliver to prospects, customers and partners.”

2 Types of Donor Data Your Nonprofit Needs