A Step-by-Step Process For Getting Started With Principal Giving Solution Prospect Lists

Take a peek at the Oldsmobile commercial and thank your lucky stars that the Cutlass Ciera has been laid to rest – along with our old validation processes. Fast-forward nearly 30 years and step into the modern world of prospect validation in combination with predictive modeling.  

Though the cars we now drive can park themselves and Chevy has brought us built-in 4G LTE Wi-Fi, we still need a driver – and that’s where you come in!  This isn’t your father’s, nor your mother’s, research validation process anymore!

Behavior Modeling is the Industry Standard

Response modeling (or predictive modeling) has been a proven predictor for non-profit fundraising since the mid-90s when it was first brought to the market by Core Data Services, now Target Analytics. Using past behavior to predict future behavior, it’s the industry standard used by both commercial and nonprofit entities. Financial institutions use predictive modeling to market to potential clients; retailers use it to assess purchase patterns and provide coupons for or suggestions of products you might want to purchase. Target Analytics uses past giving patterns to predict who in your database are likely and capable to make principal level gifts to you in the future. The goals of modeling and research are to:

• Identify who you should target;
• Surface which programs to target them with; and
• Assess how much those individuals are likely to contribute given appropriate cultivation and solicitation.

Attached to this blog post is a handy Resource Guide with its suggested work-plan to systematically review and authenticate, as needed, prospects in Principal Giving Tiers 1-4. We welcome your comments and questions and are confident that you’ll find this guide a useful complement to your Principal Giving Solution scores.