Between Campaigns: An Update on Our Work

I wrote a blog post in October 2012 about the plans WKU’s mighty Prospect Research team of two created to carry us forward in the interim between campaigns.

So today I thought I’d give an update on how it’s going.  Maybe some of these ideas would be useful for your shop.  And if you have any ideas on what has made your shop and processes more efficient and your development officers happy, please share!

1. Assessing our resources, methods and procedures.  Cheryl Kugler, Director of Prospect Research and I (the Senior Research Analyst at WKU), had a team retreat.  Just the two of us?  You bet!  We left our office for a conference room in another building on campus and set up like a retreat for 10.  It was so productive and helpful!  And fun! (If you’re going to get away from your regular routine, you might as well have a little fun, right?) Not only did this give us time to focus, we were able to be creative, extrapolate beyond our normal boundaries and establish timelines and goals….something we don’t normally do in our weekly meetings.
2. We have established monthly meetings with each development officer to discuss their portfolios and their research needs.  This not only helps the officer and their researcher focus on the work but creates team cohesion and investment.  In addition to the monthly meetings, we have established quarterly reviews.  This meeting gives us a chance to really dig into each development officer’s portfolio to assess prospect stages and assignments and anything else that will help the development officers have a clean and manageable portfolio.
3. To help in managing those portfolios, we have removed prospects with no activity or no recent activity (meaning during the last campaign) from the development officers’ portfolios.  Reviewing the prospect lists and getting the numbers under control has definitely lifted a burden from the development officers. When you go from 400 to 250 (even though the latter is still too large) at least you feel management and assessment can be accomplished. 
4. Our new prospect rating tool has been a great help in identifying the best prospects in each officer’s pool.  Although it is a relatively new tool, it has become one of our go-to identifiers when rating prospects for development officer travel, within colleges and for special projects  And,  we have incorporated it into several of our established reports as a sorting tool to help bubble up top prospects.
5. We have also worked on creating new codes to track our prospect research work as well as our database management work.  These codes were established not only to help us, but so the development officers understand how long prospect may have been identified and or have been sitting in their portfolios.  Sometimes tracking this kind of information and making it part of the database process seems like “one more thing” and slows down the work pace.  But now that we’ve got it as part of the routine and procedure, we can already measure the benefits.  So, we’ll keep doing it.
6. We are continuing to create reports and revise current ones so information is clearly and concisely available to the development officers about their portfolios.  Some of these reports are pushed to their e-mail inboxes.  Along with these reports we are documenting everything – policies, procedures, illustrations and instructions – in notebook form and on a new internal network (Intranet) so they can be easily found and revised. 

I wanted to give this update as it highlights a lot of the “other kind of work” that we have to do as prospect researchers and managers.  Yes, it may seem like a lot of time consuming “busy work.”  However, if we can get the work flowing smoothly for all parties involved – managing the process so it doesn’t manage us – then we researchers will be freed up to do the thing we like to do best: finding those golden prospect nuggets that lead to the next big gift!

Theresa Clark, Vice President, APRA MidSouth

vice.president@apramidsouth.org

Resources for Finding Physician Compensation

In estimating a prospect’s gift capacity, having a good sense of his/her compensation range is very important. Many industries offer resources that can help you gain a better picture of estimated compensation, and I am always excited to learn of new resources!

For physician compensation, I like to use Merritt Hawkins. They post physician job postings on their website, complete with salary ranges. I typically use this and cross-check it against Cejka (a popular resource among my colleagues), and the two are almost always comparable. Look to the far right side of the web page, where you can search job postings by specialty. You can also search by region, but I usually include all regions in the initial search – the results include a column with the region listed, and this way you pull all the postings in the selected specialty.  The trick is needing salary info for a position that is currently posted…

What compensation resources do you use for other industries?

Caroline Rossini, Treasurer, APRA MidSouth
treasurer@apramidsouth.org

Liking Facebook Like Pages

The other day our whole Vanderbilt research staff (15 of us!) was discussing emerging trends in the industry of prospect research. These are things that are irresistibly going to merge into what we do. Social media was heavily discussed. One thing our group was sure of: there are reams of great prospects self-identifying with high attachment, and this is happening at Facebook Like Pages.

I think you know what these are; it’s where you see (or search for and see) a local business, place, company, NOT FOR PROFIT (ahem), food, artist, band, etc. and hit the ol’ “Like” button. Whenever the organization announces something – puts out information or opportunities – this goes out to all who have liked them. People are commenting and liking and name-linking Like Pages all the time. It’s the same effect as having a Facebook friend.

Check this out: One (of several) Vanderbilt-owned/managed Facebook Like Pages had over 80,000 likes, and is growing at the rate of 600 a week. On this page were comments from all sorts of “likers.” Many were very positive. No kidding, one comment said “you are an answer to my prayers.” I looked this particular person up in our development database. There was not a record of any development contact.

I hope you are like me – what a TON of opportunity!

The challenge is that the folks that run the Facebook Like Pages in my organization are not (yet) harmonized into our development enterprise. Not a huge surprise. Development kind of is given a certain mandate. Marketing/communications – another. However, I am proud to note that early stage collaborations in my greater organization are underway. Everyone has thankfully been – “Yes, good golly, we need to get on that!”

Isn’t it that simple? What could possibly go wrong? What if our organizations could aggregate important Facebook data into our development database – wouldn’t this help significantly with prospecting? Has anyone reading done such a thing? Hit me back with ideas or questions!

Geoff Little, Past President, APRA MidSouth
past.president@apramidsouth.org

Open Letter To Our Members, Both New and Old!

On behalf of the board, I would like to thank so many of our members who made 2012 such a great year for APRA MidSouth. We had a banner year, welcoming many new members and expanding programming deep into untouched areas of our membership.

Because of you, we were able to host a number of Prospect Research 101 seminars across our membership area, introducing small and large nonprofits alike to the field of prospect research. We were also able to provide continuing education opportunities and networking lunches to our members already embedded in the MidSouth prospect research community. In November, we went national, partnering with APRA International to host more than 100 prospect research professionals from across the country for a networking happy hour capping off the Advanced Relationship Management Symposium held in Nashville, Tennessee.

This year, we hope to build on this momentum and offer you and your fellow APRA MidSouth members several valuable opportunities.

• A one-day conference on April 19, 2013, in the Nashville-area covering a broad range of tips and techniques in prospect research. This conference will be beneficial to shops at all levels and best of all, will connect you with other prospect researchers in your own back yard!

• Several webinars and networking lunches that are free or very low cost to our membership. For the first time, we’ll be hosting these events simultaneously in various cities across our four-state area so members all across our region can connect through shared learning.

• An APRA International Conference Re-Cap to build on themes and topics presented at the 26th Annual APRA International Conference being held in Baltimore, Maryland. Whether or not you plan to attend the APRA International conference, we want our members to be privy to all the new techniques and trends in our ever-growing field. And, if you are planning to attend, we’ll be hosting a special APRA MidSouth happy hour so you can mingle with other attendees and continue the conversation!

To take part in these and other exciting opportunities in 2013, please consider joining or renewing your APRA MidSouth membership today! As always, please email us (emails on side bar) or leave us a comment if you have questions or to let us know how we can better serve you in the New Year! We’re looking forward to a great 2013!

Angie Stapleton, President, APRA MidSouth
president@apramidsouth.org

APRA MidSouth Seminar - Save the Date

Data Integrity or the Silver Lining of Mistakes

I’ve been doing some prospecting lately (I just can’t force myself to say “suspecting”) and was reminded that one of the best prospecting resources is the information you already have: your own prospect database. Whether it’s an Excel spreadsheet or some fancy, store-bought product, it is a trove of treasure. Everyone is there for a reason. They’ve either already given money (a good predictor of future giving) or they’ve participated as a board member or volunteer or, in our case, an alum (a good demonstrator of inclination).

Your prospect database is the rare resource over which you may have some degree of control, so it makes sense to take full advantage. Take the time to update the information about your prospects, especially home addresses and employment. While you are in the process, it’s also a great opportunity to add vacation homes and investment properties. You never know which detail will be the one to make the difference.

I also want to mention the importance of correcting mistakes currently in the database. Our data entry staff is top-notch, so I want to be clear that I’m not criticizing their work. It’s just a reality that with the volume of entries they deal with on a daily basis, mistakes are bound to happen. When they do happen, correct them as soon as possible. Remember, the Murphy’s Law of prospect research states that whenever there’s a mistake, it will involve a major donor.

I’ll close with a mistake-based anecdote. In searching LinkedIn, I found a person who had listed our university as her education. She was an executive in a public company, and the latest proxy statement showed she had a ton of stock and high compensation. When I looked for her in our database, I couldn’t find her. I tried what seemed like her maiden name. Nothing. (This is the proverbial fork in the proverbial road: you could give up here or you could keep going. I say keep going!) I did a bit more searching and found an article including both the misspelled and correct versions of her name. I checked our database using the misspelled name, and there she was. With her information updated, now this person is a known entity again. She’s in the pipeline to be contacted by our development officers. And that’s the silver lining.

Mitch Roberson, Communications Director, APRA MidSouth
communications@apramidsouth.org

Resources for Learning Data Analytics

In the world of prospect research, data analytics is what everyone is talking about. I have zero previous experience in data analytics, but I find myself drawn to it. The possibilities and opportunities for its application to our field are overwhelming! It is revolutionizing how we do what we do, but if you’re like me, sometimes you don’t know where to start.

Fortunately for those of us who are still learning the ropes of data analytics, there are many excellent resources available. In particular, I’d like to highlight that Coursera, the fabulous online educator, offers a handful of free courses on data analytics taught by experts in the field. Here are four upcoming options:

• Computational Methods for Data Analysis
• Data Analysis
• Passion Driven Statistics
• Introduction to Data Science

I’m signing up for at least one of these. Will you?

To those of you who are more experienced in the field of data analytics: what resources would you recommend for us amateurs?

*NOTE: This post is not sponsored by Coursera. I just love what they offer!

Carolina Rossini, Treasurer, APRA MidSouth
treasurer@apramidsouth.org

The Year in Review

Have you ever taken the time at the end of each year to go over the events that have brought you from “Happy New Year” to “Auld Lang Syne?” I do it personally – so if I send you a Christmas letter be ready for a lot of bragging on my new grandson this year.

But professionally? Nope. Never. Some of these things are taken care of for me. In our office we keep a running tally of the projects we are asked to do, how many prospect ratings we supply, how long every project takes to complete, etc. So the measurable stuff is covered. But other accomplishments, goals and events that aren’t measured analytically? I do it for my annual performance review, but I have really viewed it as a necessary pain.

However, I’ve adjusted my viewpoint on this after attending the APRA Research Management Symposium in Nashville in early November. Instead of viewing this kind of exercise as a necessary evil, I now see how tracking and recording the intangibles is beneficial for the division of development and alumni relations as a whole. Many of the examples that the Symposium’s speakers provided did not only focus on the data and what it provided, but also what the process to get the data accomplished. Intangibles, measured the only way it can be, by human reflection.

For example, the Prospect Research and Management may be tasked with creating a new report for management of principal gift donors. Okay, that’s the data. Then the PR&M team may also be asked to lead the meeting to discuss the report, what it shows, PR&M conclusions, how it will be used to move fundraising forward and any report revisions needed for the future. This is the intangible benefit and process that data does not measure. While the data can be displayed and measured (in the report) the accomplishments of creating the report, leading the meeting and stepping out from behind what is often viewed as a support team member task or role, is equally important to note.

We as prospect researchers and managers have seen our profession and our organizational evolve quickly the past few years. Because we have to be experts on both data and the people behind that data, at times our behind the scenes work needs to be moved out front. We need continually work at changing the perception of PR&M as an afterthought to a first thought.

With the examples of this working so successfully for the presenters at the APRA Relationship Management Symposium, I am now looking forward to tracking the intangible part of what I am tasked to do. Sure, keeping track of the intangible value PR&M brings to the fundraising process and team may be a bit of a time consuming task. But now as I have taken that time to engage in this exercise, I’m convinced it’s a necessary and extremely valuable one.

Besides, reflection is always good. And it feels great to be able to recount the contributions we have made for our team.

I encourage you to invest some time in this exercise and to make it one of your habits for the new year. I am putting it at the top of my to-do List for 2013.
 

Theresa Clark, Director-at-Large, APRA MidSouth

At-large@apramidsouth.org

The Big Picture: Takeaways from APRA Advanced Relationship Management Symposium

The symposium was a success! The speakers did a great job of providing a variety of topics within relationship management. Some of the topics included evaluating prospect management policies, using data analytics to evaluate prospect management, and partnering strategically with fundraisers for prospect management to be a part of the process. Here are some observations that are fresh in my mind:

• If the current prospect management policy is not working, then it’s time to revisit and update the current policy. Updating the policy can be tedious and time consuming, but a more efficient process will make an impact on the organization.
• Let the needs of leadership drive what is reported from prospect management. Keep fundraisers in the know of what is being measured and reported.
• Use data analytics to determine moves management requirements. Look at how many visits it takes before a prospect makes a major gift or look at the average length of time between assignment and solicitation.
• Let your database and technology work for you v. you working around the technology.
• The big picture: Regardless of your role in prospect research, prospect management, or both; success comes from working well together. Remind development officers that the role of prospect management is to keep them on track with their metrics and fundraising for the organization. Prospect management is an ally.
• Use your network. There are many other organizations asking the same questions and trying to improve the role of prospect management. Ask your peers to see what their challenges and successes are. We can learn from one another.

Melissa Sridaromont, Secretary, APRA MidSouth
secretary@apramidsouth.org

Gearing Up for the APRA Relationship Management Symposium: A Conversation with the Planners

Here in the land of APRA MidSouth, we are getting very excited for the upcoming APRA International Advanced Relationship Management Symposium! Two days packed full of information on managing relationships in our ever-changing, hyper-competitive environment?! Right here in our own backyard?! Um, sign me up!

To get the inside scoop (and/or satisfy our nosey-Nellie genes…), we sat down with planners-extraordinaire Susan Hayes-McQueen, Director of Development Research and Relationship Management at University of Washington, and Emily Walsh, Senior Director of Prospect Development and Analytics, The University of Arizona Foundation. This is what they had to say…


APRA MidSouth: Can you give us a little background on the symposium? For example, how did you come up with the theme “Advanced Relationship Management” and why did you choose to host it in Music City?

SHM: This is the third time APRA is doing a Relationship Management (“RM”) Symposium. They did one once in 2005 and again in 2008; both were well received. I think APRA sees that this is a good group of like-minded people who struggle with the same questions at their institutions. I, for one, am always thrilled when APRA has such in-depth opportunities, and spending two days with other professionals will be a highlight of my year. APRA chose Guitar City for us. I couldn't be more excited with the venue. What could be more wonderful than a whole city devoted to the arts! Plus, I've always wanted to see Vanderbilt. My only regret: I won't be able to spend a week exploring Nashville!

APRA MidSouth: What are you hoping attendees will take away from the conference?

SHM: I’ve got a few hopes for the attendees: (1) Renewed energy to pursue excellence in relationship management at your organization; (2) Some ideas to take your RM program to the next-level; (3) A great network of individuals who think about the same things you do! and (4) Examples of reports, analysis and other industry standards.

EW: Like Susan, I think that there are a few main things that I hope attendees can take away from the conference: (1) A handful of immediate take-aways that can be brought back to your organization that will (hopefully!) help take your program to the next level, and (2) The opportunity to further build your network with like-minded individuals who do similar work and likely face a lot of similar challenges.

On a more personal note, when I think about past conferences and symposia I’ve been to (regardless of the specific topic), the people I’ve met and connected with have always been one of the most powerful take-aways for me. When you connect with people that do the same kind of work as you, you have a resource for life. I can’t tell you how often I pick up the phone or shoot an email off to folks that I met at various conferences over the years. Having people that you can benchmark against or who will be patient enough to do some crazy brainstorming with you is invaluable. I hope that during this conference we’re successful in not only sharing some of our knowledge about Relationship Management, but that we enable and encourage the participants to spend some time talking and connecting with each other around these topics.

APRA MidSouth: Are there any presentations you personally are out-of-your-mind excited about attending?

SHM: Well, all of them! Okay, I'm really eager to learn from my co-presenters, Emily Walsh and Brock Silvey, who both have great experiences with RM in various organizations. I personally like to present on Fundraiser Accountability.

EW: I agree with Susan – I’m excited about all of them! Working with Susan and Brock has been great because we each bring a unique perspective and set of experiences to the table. I’ve learned a ton from them just in the process of working together to prepare materials! One of the sessions I’m most excited about is on developing prospect/relationship management policies and processes. I’ve always been kind of obsessed with aligning processes with policies (even before I started working in development), so I totally geek out when it comes to that.

APRA MidSouth: Any quick tips to the attendees on how to get the most out of the symposium?

SHM: Come ready with energy to help shape the symposium. Your examples of best practices and challenges will be a highlight for others.

EW: Symposia like these are often what you make of them. Come ready with energy and enthusiasm. We’re going to be covering a lot of material over the course of two days. Don’t be shy! The sessions will likely be pretty casual, so come prepared with questions and don’t hesitate to jump in and share your experience with the group as well.

APRA MidSouth: Outside of the conference, what are you most looking forward to doing while visiting Music City?

EW: I love, love, love Nashville! I’ve only been there once before (oddly enough, I think it was for APRA’s first ever Data Analytics Symposium – before it was aligned with the International Conference). Nashville’s great! I love live music, so I’m hopeful that Friday night I can go out on the town before I have to fly out early Saturday morning.

SHM: Wow. There's a lot I wish I could do, but I'm zipping in and out. Any recommendations for us?

APRA MidSouth: Of course! First, make sure to visit the Symposium’s Travel Details page on the APRA International website. It has links to the top 10 things to do when visiting Nashville as well as a list of great restaurants in the area. For music listings (you are coming to Music City, afterall!), visit the Nashville Scene for a list of upcoming shows. And, please don’t hesitate at all to reach out to one of the APRA MidSouth board members (emails on the right side bar); we would love to help you plan your trip and make sure you get the Nashville experience!

Many, many thanks to Susan and Emily for taking some time to share with us! Sounds like it’s going to be a great event, and like Susan and Emily, we look forward to meeting many of you in person in the upcoming days! The countdown begins…

Angie Stapleton, Vice President, APRA MidSouth
(vice.president@apramidsouth.org)