In the world of fundraising, there’s one fundamental activity that lays the foundation for everything else: prospecting. It’s where the seeds are planted, and without it, the rest of your fundraising efforts will struggle to take root. So, why should prospecting be your first “One Thing” when aiming to elevate your fundraising strategy?
To answer this question, I asked two top experts to share their insights. Both John Griswold, a direct marketing veteran, and John Davis, who has helped dramatically grow donor engagement at the Leadership Institute, agree: prospecting is the cornerstone of long-term success.
Why Prospecting is the “One Thing”
John Griswold, a master of direct mail programs for organizations ranging from think tanks to military groups, puts it simply: “Prospecting is your seed corn from which all other fundraising can grow.” By identifying new donors, you’re not just adding names to a list—you’re building the foundation for all future giving, whether through direct mail, events, or even planned giving.
He emphasizes that cracking the code of prospecting helps you unlock many other keys to donor retention and upgrades. “Prospecting is the ONE THING,” Griswold asserts. Without it, your efforts to build relationships and raise substantial funds will be stunted from the start.
A Proven Strategy
John Davis of the Leadership Institute shares how prospecting transformed the organization’s fundraising efforts. In 2011, he was given a bold challenge by the institute’s president, Morton Blackwell: increase prospecting mail efforts so dramatically that they would need to borrow money to keep up.
The result? Not only did Davis increase the number of donors, but he did so in such a way that it greatly expanded the Leadership Institute’s overall donor pool. The impact was so significant that, despite all the additional fundraising efforts, they never ran out of money!
A solid prospecting strategy not only helps bring in new donors, but it can also identify potential major donors—people who might give $10,000 or more either immediately or over time as trust is built.
Looking Ahead: Four Weeks of Prospecting Insights
As we dive deeper into prospecting over the next four weeks, we’ll explore specific strategies you can implement to take your efforts to the next level. We’ll start by discussing, “What One Thing Should You Do First? Developing Your Vision & Strategy and Assessing Your Opportunities.” This will set the stage for a series of practical tips and expert interviews.
If you’re eager to get started right away, consider picking up two recommended books: Fund Your Cause with Direct Mail by Ben Hart and Revolution in the Mailbox by Mal Warwick. Both offer in-depth strategies to make your prospecting efforts as effective as possible.
Your Next Steps
Prospecting is more than just identifying potential donors—it’s about laying the groundwork for meaningful relationships that will help you achieve your organization’s long-term vision. Over the coming weeks, you’ll discover how to refine this crucial process and make it your “One Thing” for boosting your fundraising success.
Stay tuned as we continue this important conversation and explore more ways to supercharge your efforts!
