A self-described nerd, I fell in love with prospect research a number of years ago.  But to be perfectly honest, when I applied for my first prospect research job I had a very vague idea of what I was getting myself into.  Fast forward to today, and even with the growth of prospect research across Canada, I still receive the question on a fairly regular basis – what exactly do you do?

In a nutshell, prospect research is all about getting the data you need to raise more money for your cause.  For example, your organization is in the beginning phase of a campaign and you have a database full of past donors, current donors, and others with a relationship to your organization. These prospects may be an individual, company, or foundation. What do you really know about these prospects?  A prospect researcher can find their personal and contact information, business information, past giving history, wealth indicators and philanthropic interests.  They can then analyze that information to determine what campaigns the prospect would be likely to give to as well as how much they could give. Prospect research does not only determine who your major gift prospects are, but can also identify planned giving prospects, identify new prospects, fill gaps in your donor data and much more.  Prospect researchers use a variety of public and subscribed to resources to find this information and adhere to a standard code of ethics in their research.

Prospect research can provide you with the information you need to make your current campaign a successful one, and it can also be an investment for future campaigns.  After all, it’s not only about connecting with your donors, but connecting with them on a personal level that can lead to your organization’s success. Prospect research can give you the information required to start and develop relationships that will benefit your organization for years to come.