What is prospect development?
Prospect Development is the fundraising practice of discovering more information about a donor, using data effectively and accurately, and using all of that information to develop significate relationships with donors.
How can I improve my prospect development with Donor Management?
You can improve your prospect development by using our monthly Data Services Contact Complete service.
Data Services Contact Complete requires no work from you—it’s an add-on data update and correction service for all of your contact records. In a monthly data update, the service adds:
Updated contact information for addresses and phone numbers
Demographic details like age, and gender
Wealth intelligence on a contact's financial and philanthropic status
How does Contact Complete update contact and demographic information?
Once a month, any Data Services Contact Complete subscriber’s full data set is downloaded and updated to include any recently added or changed contacts via publicly available data.
Demographic updates are provided through the USPS' National Change of Address (NCOA) database. Any missing or changed information is added to the record, and the old address information is moved into a custom field for historical tracking. This helps ensure that the most current and up-to-date mailing address information is on record - and that the old addresses aren't lost.
The addresses are also standardized to meet USPS mailing standards and a "deliverability score" is added to the file.
In addition to address information, phone numbers, birthdate, age, and gender are added to the file when they are available. However, please note that email addresses are not updated through Contact Complete.
How can my organization best leverage contact and demographic information?
The most important use of this data is obvious - to have correct contact information in order to be able to reach your prospects and donors.
By keeping address and demographic information up-to-date, you have the ability to also:
Re-send a donor renewal reminder letter to someone's new address
Filter by city, state, or zip code to determine where your donors are geographically
Find our if your donors have moved to a different city or state
Continue with personalized donor stewardship by sending thank-you note to a donor at a new address
Send donors birthday cards or messages on their special day
Mail a survey to donors and contacts asking for additional input
Ask donors to further verify accuracy of other fields not addressed with Contact Complete
How does Contact Complete update social media information?
If an email address already exists within a contact record, the Contact Complete process will search for matches to social media profiles based on that email address.
If successful, Contact Complete will provide links to LinkedIn, Facebook, and X, and will indicate how many followers individuals have on each respective platform.
How does Contact Complete update wealth scores?
A "wealth score" uses public information (such as real estate, stock holdings, company ownership, public assets, etc.) to create a single summary score of those multiple data sources - and in doing so, provide a better indicators of the potential and possible affluence of a donor.
Wealth scores do not measure debt or private information, but that can be helpful as an indicator of estimated net worth and possible philanthropy effort that an individual might be able to provide.
For more information on wealth scores, please check out our related guide here.
How can my organization best leverage wealth scores?
Wealth scores can be used to help identify which of your contacts may have a higher capacity for giving and can help you better strategize your fundraising efforts. You can use wealth scores to:
Identify which donors could be giving more than they are currently
Set an engagement plan to increase the level of giving for certain donors
Create targeted ask amounts for donors based on their wealth score
Create a segmented list of "portfolio-managed" contact and donors - such as those who might need a more "high-touch" relationship with a fundraiser
Identify potential major gift prospects for campaigns, special asks, or legacy giving
Invite higher-scored contacts to a small, private stewardship or cultivation event
Increase ask amounts for lower-level donors that have higher wealth scores
Set realistic, data-informed goals for fundraising
Identify which donors may have a higher capacity for giving and create a strategic plan of engagement for them
Where will I find these updates from Contact Complete in Donor Management?
Updated Contact Complete data will be added to the "custom fields" section of a contact record, for easy access and viewing.
What if I am interested in getting Data Services Contact Complete for my organization?