Friday, March 8, 2013

Is Your Research Shop a Game-Changer?

Almost a full year ago, something amazing happened:  I welcomed a beautiful baby girl into this giant world of ours.  And, a very quick 9 months before that, I found out it was going to happen.  This, of course, was followed by sheer excitement and a brief honeymoon period before realizing we had a lot to do – and buy – before we were ready to bring home our sweet bundle.  Insert onset of panic.

Then, the most amazing thing happened:  We started receiving coupons.  Lots of them.  For things we needed!  Things like baby furniture and travel gear and diapers.  And, it hit me.  They knew.  I hadn’t registered or started wearing maternity clothes or even told my Facebook friends.  Yet, somehow our fine friends at Target were already sending their well wishes (via coupons and ads, of course!).  Shortly after, I read this NYT article, and my suspicions were confirmed. 

Fast-forward more than a year later, and I find myself thinking about these things again from a professional perspective.  If someone I’ve never met at Target knows I’m going to be a new mama and what I will need, why don’t we know that someone is going to be a library donor?  Or, a cancer research donor?  Or, a land conservancy donor?  And, what it will take to get them there and, more importantly, keep them there.

Now, let me back-peddle lest I offend.  The nonprofit world has come a long way with the use of business intelligence techniques to predict donor patterns and streamline the philanthropic process as well as standards of efficiency.  Yet often, when we look to improve – or even start – our analytic programs, we turn to other nonprofits because, well, they do what we do.  But, what if we took a cue from some of these for-profit companies?  They aren’t doing exactly what we’re doing, but they’re doing something very similar, and frankly, they’re doing it really well. 
 
With this in mind, I’ve been doing a little digging into the mindset of companies where market and behavioral research departments are the norm.  You know, just to see if there are any commonalities.  Perhaps, not shockingly, I’ve found a few key trends. 

1)      They do things differently.  We all know about “failing forward.”  We get it.  We read that book.  But, how many of us actually do it on a daily basis?  Or, weekly, monthly, yearly, for that matter?  In a Research Insider article, Facebook’s market research principal Sheila Normile says, “It’s funny because you often don’t think of research and risk in the same mindset or in the same breath, but we really embrace that idea.”  She goes on to say, “We’re not interested in doing research in the same way that it’s been done for the past 100 years.  If we try something and it doesn’t work, then we’ve learned something and we move on.”  Yet, how many research shops do you know that churn out the same few products for request after request?  How many of you have an arsenal of resources that you continually turn to or a few key reports that you bring to every meeting?  What is that Einstein quote again about doing something over and over and expecting different results…? Quite simply, if we want different results, we must be willing to try new things. 

2)      They value data, like, REALLY value it.  Just yesterday, ProPublica published a slightly scary but illuminating article on the various things the consumer data industry tracks.  (It was summarized  in The Atlantic here.) While most nonprofits aren’t likely going into this much detail, we very often do collect data from our donors.  A lot of it.  It is through this collection that patterns emerge.   Yet, how often does something not get into the database because it just didn’t seem that important at the time?  If data matters (hint: it does.), then protecting its integrity and understanding how to use it (ethically, of course) matters even more.       
 
3)      They use research to influence strategy.  This sounds like a no-brainer.  By its very nature, research should be used to inform decisions; however, I’ve been in more than a few conversations lately where it seems quite the opposite is happening.  A solicitation has been made and then someone requests research or a wealth screening is conducted as an afterthought instead of a jumping off point.  Facebook’s Sheila Normile says, “If we are doing research to justify a decision that we’ve already made and the research isn’t going to have any impact on that decision, then we are better off having spent our time and resources elsewhere.”  Preach, sister.    
 
The point of bringing this up is simply to think about the culture of our research shops.  How do we proactively create an environment where research can be a game-changer for our institutions?  Are we appropriately harnessing our skills and resources to add the best value to the collective intelligence of our fundraising shops?  And, most importantly, what innovative techniques are we using to build up the donor experience and, hopefully, encourage transformational gifts for our organizations and the causes we so deeply believe in?  Hmmm.  So, those are the questions I’ve been asking a lot lately.   Well, that and what I should get my daughter for her first birthday.  Any thoughts?  Maybe I’ll look at Target.  I have a coupon.  

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

Thursday, February 28, 2013

Children’s Hospitals - Benchmarking

I am the assigned researcher for the children’s hospital at a university. Having past experience at another children’s hospital not tied to a university, I periodically compare the two roles. I have found many similarities in project requests and a few differences in structure. It’s highly probable that you have been asked to look at how other children’s hospitals are planning their next campaign or what events other children’s hospitals have put in place. In essence, we researchers are benchmarking.

While a majority of my time is dedicated to major gifts efforts, I find it just as important to keep myself informed of all the community events that are planned for the year. I invite other researchers that support children’s hospitals to respond and share how you are structured among development officers. In essence, I am benchmarking my role.

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

Wednesday, February 20, 2013

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

Wednesday, February 13, 2013

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

Wednesday, February 6, 2013

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

Friday, February 1, 2013

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

Friday, December 21, 2012

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

Wednesday, December 5, 2012

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:

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