Unsuccessful fundraisers don’t understand qualification. They don’t recognize its power. They wait for the next wealth screened list. They fiddle with it in Excel or in some other database. They make a few calls. They don’t get any appointments. They give up. Then they say the list was no good.
Unsuccessful fundraisers don’t use the qualification process effectively. They don’t recognize the fact that understanding qualified supporters in-depth is crucial. When they call, write or visit them, they ignore their interests, passions, desires, and needs. And, too often, they ignore them entirely. They don’t call, write or visit them at all.
Here, Greg Warner provides seven easy to follow steps to help you qualify your prospects.
Wealth advisors need to understand wealth trends in relation to their client’s investment strategies. Their companies have the necessary resources to provide that insight for them in the form of studies and surveys. Surveys dealing with wealth allocation are particularly useful for estimating wealth.
In this blog, Kenny Tavares has come up with a list of three resources that can be accessed for free to begin creating your own wealth estimates. Aside from having the data we crave, these reports provide great information on current wealth trends.
GDPR note: Just because data is available in the public domain does not necessarily mean that it can be harvested and used for other purposes. Although you may not have to obtain consent to use it, please check with your data protection officer or seek legal advise before undertaking prospect research.
What’s it like to give away a billion dollars?
One of the few people who know is Stephen Schwarzman, co-founder, chairman and chief executive of Blackstone, one of the world’s biggest private equity firms.
He has given away more than that already, mainly to causes related to education, culture and the arts, but – with a fortune put at more than $16bn (£12.8bn) – is likely to go far further during his lifetime.
His latest big donation, in June this year, was a £150m gift to the University of Oxford to establish an institute dedicated to the study of ethics in artificial intelligence.
He realised very quickly that “the UK was unaccustomed to philanthropy on this scale. During the course of the day [that the donation was announced] I learned that my single gift was about half of the £310m given by all philanthropic individuals to arts and culture in England during 2017-18.”
The UK lags well behind the US, both in terms of the number of wealthy people who make sizeable donations to good causes and in terms of the scale in which they donate.
Ian King, Business presenter on Sky News examines the socio-economic reasons behind the different attitudes to charity in these two countries.
The California Consumer Privacy Act will effectively be the US national data privacy standard for consumer business and brands when it takes effect on January 1, 2020. (Although enforcement by the California attorney general has been delayed until June 2020, individual and class-action law suits may begin immediately.)
As of this writing, that’s precisely 12 weeks, or no more than 55 working days, allowing for the holidays. Given how many companies were radically unprepared for the GDPR given two years for preparation, this implies that lots of companies need to do lots of work lots of fast.
There are three interrelated and inescapable reasons why CCPA-compliant data practices will quickly become the standard across the US, even for companies that don’t do business in California. Here, Tim Walters, Ph.D. explains more.
The California Consumer Privacy Act could have more repercussions on U.S. companies than the European Union’s General Data Protection Regulation (GDPR) that went into effect in 2018. The California law doesn’t have some of GDPR’s most onerous requirements, such as the narrow 72-hour window in which a company must report a breach. In other respects, however, it goes even farther.
The California Consumer Privacy Act (CCPA) takes a broader view than the GDPR of what constitutes private data. The challenge for security, then, is to locate and secure that private data.
CSO, which serves enterprise security decision-makers and users with the critical information they need to stay ahead of evolving threats and defend against criminal cyberattacks, shares an excellent guide on what CCPA means to you.
On January 1 2020, a landmark new data law comes into effect, subjecting U.S. businesses to a sea change of privacy regulations. After that date, Americans will be able to demand that charities disclose what personal data they have collected about them, and also ask them to delete that data. The California Consumer Protection Act (CCPA) will severely impact tech giants like Google and Facebook, as well as retailers like Macy’s and Walmart.
This heralds the end of an era in which the U.S. defied a shift in global privacy norms, and allowed American companies to commodify consumer data.
There remains, however, considerable confusion over how the law will be enforced, and how much of a burden it will be to U.S. companies. What follows is Forbes’ plain English explanation of the law, the politics surrounding it, and how it will affect businesses and consumers.
Shaun Horan starts this thought piece with: “Nothing splits a room like asking this question: should you ask for a gift from a prospective donor on the first meeting?”
So, what are his reasons? Click below to find out.
For a long time, philanthropy has been defined as “the giving of money to nonprofit organizations.” However, this definition is quickly becoming obsolete.
It’s evolving towards a meaning that is more appropriate to today’s giving paradigm and less industry-driven: that philanthropy is “the action of transforming the social wellbeing of others through generosity.”
The fundraising pyramid has long been the gold standard in the nonprofit industry to “group” donors. But it’s an odd way to represent a community of philanthropists — it’s a misrepresentation of what’s actually taking place through the process. The evolution of philanthropy forces us to re-imagine this structure.
Community Funded explains more.
Propsect researchers should already be adept at verifying their sources but is that good enough to spot fake news?
In this blog, Jennifer Filla shares her method (including a Venn diagram).
Discovering your best fundraising prospects does not boil down to a single piece of criteria. There are several qualities that can help identify the potential donors who can give the major gifts that will lead to your organization’s success.
Here, Kim Becker Cooper – Marketing Director at DonorSearch, shares her five key identifiers.
How to deal with rich people? John Baguley writes in this blog:
“I have worked on many highly successful capital appeals and a few that didn’t quite reach their target. Time and again that failure was due to the inability of the team to engage with wealthy people as human beings and not as representatives of all that is wrong with society. The feeling was often that they ought to give because they were rich, with no thought about real engagement over time with their kindness and goodwill.
“Crucially, this sometimes manifested itself in the act of asking, which I have seen done almost as an act of bravado to show the person asking was not afraid of the task but, unfortunately, that resulted in a slightly offensive demand lacking any humility.”
Read this blog for John’s tips on dealing with the rich.
Most organizations have plenty of donor prospects, without having to go outside and look for prospects who aren’t connected to you.
Claire from Clairification Fundraising Coach suggests you don’t start with the most out-of-reach prospects. You can be a major donor prospect rainmaker without having to go outside or reach too far.
Even small current donors may be juicier prospects than “whale” donors with no connection to you or your cause.
It’s as easy as ABC: Access. Belief. Capacity.
It all boils down to this:
- Who you know you can get to.
- Who believes in your mission.
- Who has capacity to give.
These are the folks with whom you’ve already got a foot in the door. They are your best prospects for upgraded giving, presuming you’ve treated them well.
For more details, visit:
At the end of 2016, when the ICO fined several charities for breaching the Data Protection Act 1998, Ian MacQuillin, wrote a fascinating philosophical piece on how charities are perceived by different types of people.
Even though this feels like a long time ago, it’s still as relevant today as it was back then. Whenever you feel that GDPR and data protection are not your friend, have a read of this.
The Guidance prepared by the Data Protection Network is a practical tool aimed at helping commercial and not-for-profit organisations to assess whether or not they can rely on Legitimate Interests as a lawful basis for processing personal data under the GDPR.
The Guidance covers:
- Understanding what Legitimate Interests are
- Identifying areas of processing where Legitimate Interests may apply
- The Legitimate Interests Assessment (LIA) – the 3 stage test
- Transparency and the consumer
The Institute of Fundraising (IoF) recently launched Good Asking – a report on why charities research and process supporter information. They worked with leading academic Dr Beth Breeze from the University of Kent, to survey over 300 fundraisers to understand why they process and research information about their supporters, and what the benefits are for donors, charities and the wider public.
The purpose of this report is to shed light on the importance of fundraisers and their work. If they are to be successful, fundraisers need to conduct research to facilitate the efficient and accurate matching of donors and the causes they might wish to support, and to do so in a way that makes the experience as pleasurable as possible for the generous donor.
THE REPORT FINDINGS INCLUDE:
- 90% of fundraisers believe that conducting research enables fundraisers to better communicate and tailor their work to the interests and priorities of donors
- Most (88%) fundraisers believe that conducting research reduces the levels of unwanted or irrelevant mail sent out
- A representative survey of the general UK population found that almost two-thirds (60%) of those who prefer charities to communicate in a tailored way with them, think that charities should be able to use information that is publicly available, for example doing Google searches or drawing on newspaper articles, in order to tailor their approach to their supporters.
The report also highlights that:
- Two-thirds of major donors believe that a ‘more professional approach’ by fundraisers has been a key factor in the development of philanthropy in the UK
Adrian Beney is back with an update on CASE’s work on providing guidance for charities for adopting GDPR best practise.
This document lays out in detail and with great clarity the circumstances under which these activities, regarded in recent years by some at the Information Commissioner’s Office as very controversial, can be carried out lawfully.
Follow the link below for full details.
Raising mega-gifts may be the fastest way for charities to achieve a step-change, but securing such large donations is easier said than done.
Matthew Ferguson and Gemma Peters provide invaluable insight into how major gift fundraising from those who have a net wealth of at least £50m is very different to other types of fundraising.
In this technical blog, Suresh Kumar Gorakala explains how to turn written comments into descriptive sentiment. This is extremely helpful when trying to categorise, segment and understand your audiences better.
This example focuses on Twitter comments, but this technique can be applied to any text field, including telephone call notes and emails.
Many smaller fundraising and non-profit teams can’t make the investment to fully utilise analytics.
In this blog, the great Peter Wylie uses data from two schools to demonstrate how to build a very simple predictive score using nothing but Excel.
So, data analytics can help us to predict the future and find loads of people who will donate to our cause? Well, yes and no. But it’s a bit of a journey.
In this article, Thomas Maydon explains the four different types of data analytics:
Follow the link below for more: