Managing your prospect pool
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Managing Your Prospect Pool. Bobby A. Prince, CFRE Associate Vice President for Development University of Memphis Tennessee Advancement Resources Council July 17, 2008. STEWARDSHIP. STRATEGY. Receptions. FOLLOW-UP. CONTACTS. MOVES. GOALS. Annual Gifts. PROPOSALS. ASKS. Plans.

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Managing Your Prospect Pool

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Managing Your Prospect Pool

Bobby A. Prince, CFRE

Associate Vice President for Development

University of Memphis

Tennessee Advancement Resources Council

July 17, 2008


STEWARDSHIP

STRATEGY

Receptions

FOLLOW-UP

CONTACTS

MOVES

GOALS

Annual Gifts

PROPOSALS

ASKS

Plans

ORGANIZING

CULTIVATION

QUALIFICATION

IDENTIFICATION

RESEARCH

Meetings


Agenda

  • Overview

  • Development Process

  • Strategy Design

  • Bringing It All Together


overview


Manage your time and resources so that people-not process-come first


Effective prospect management means focused attention on the right people at the right time


“What Fund Raisers Do” by Joel Smith

What fund raisers do, essentially, is to design strategies that are intended to moveprospects (prospective donors) through stages of deepening commitment to the point at which a successful ask can be made.


“What Fund Raisers Do” by Joel Smith

From this it follows that fund raisers should spend virtually all day, every day, in activity that pertains to prospects: identifying them, gathering information about them, using that information to design strategies that will cause deepened commitment, and then managing the execution of those strategies.


Development Process


Investment Cycle

Identification

Interest

Information

Investment

Involvement


Identification

  • Isolate a list of prospects for cultivation

  • Look for natural, logical connections

  • Concentric circles

  • Visit to define capacity and inclination to give


Create Interest and Involvement:

  • Seek their advice or opinion

  • Promote meaningful visitation

  • Quote them, with adequate visibility

  • Ask them to be a guest lecturer

  • Seek their testimony

  • Use their names

  • Take their pictures

  • Ask them to do something for you


Five Rights

  • Right Prospect

  • Right Project

  • Right Amount

  • Right Time

  • Right People


Strategy design


Prospect Strategy

  • Research

  • Think long term

  • Be thorough

  • Seek feedback

  • Expect it to change


Prospect Strategy Worksheet


Cultivation and Solicitation Strategy

Creation Date:

Prospect’s Name:

Prospect Manager’s Name:

Rated:

Area Clearance/Project:

Campaign Project:

Cultivation and /or Solicitation Team:

Background:

Cultivation and Solicitation Steps:

Step 1.

Step 2.

Step 3.

Step 4.

Step 5.

Step 6.

Stewardship Plan:

Additional Comments and Information:

See revisions to this plan dated:_____________ Initials of Prospect Manager:______


Bringing it all together


Metrics

  • Face to face visits

  • Identification visits

  • Asks

  • Closes

  • Prospect load


Time Allocations

  • Discovery/Qualification15%

  • Cultivation50%

  • Solicitation20%

  • Stewardship15%


Pipeline


Prospect Coordination

  • Donor Database

  • Contact Reports

  • Prospect Strategy Meetings


It’s All About Impact

StudentSupport

FacultySupport

ProgramSupport

Capital Support

Unrestricted


Managing Your Prospect Pool

Bobby A. Prince, CFRE

Associate Vice President for Development

University of Memphis

Tennessee Advancement Resources Council

July 17, 2008


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