Steps of a prospect visit
If you are like me, whenever you tell someone what you do for a living they respond with "I don’t know how you ask people for money, I couldn’t do it!" You and I understand that what we do as fundraisers is so much more than asking people for money – actually, making the ask takes less of our time than what comes before and after. Here are steps to take when you have a prospect visit.
Pre-visit:
Do your research. Using donor research tools help you learn information about other giving and capacity. Google is also your friend – what is the prospect passionate about?
Make the case. Determine what you are going to ask for: Special project, unrestricted funding, etc. How can you match the prospects passions with your mission? Write out why they should invest in your cause and how you will deliver impact.
Identify a dollar amount. What are you going to ask for? A step to landing on the ask amount is to answer these questions: a. What would be a stretch gift for this prospect/what is their giving capacity? B. What have they given to other groups? B. What would be the lowest amount you would be happy to receive?
Rally the allies. Who do you know is connected to the prospect? Program staff, leadership, board, other donors? Reach out and let them know you are meeting with the prospect. If appropriate, ask for their advice. If they are part of staff or the board, ask them to join you for the meeting. Ask your allies to put in a good word prior to your meeting.
Write up a meeting agenda: This is to keep you and any other attendees on track and focused, but not to be shared with the prospect
Meeting purpose
Meeting goal
Strategic questions to ask
Agenda: (example: Welcome, introductions; strategic questions; discuss upcoming event; engagement opportunities; project pitch; ask, close, next steps)
Confirm meeting: the week of the meeting, confirm meeting details (time, date, location, attendees) and expectations with the prospect - "I look forward to meeting with you on Thursday at noon at The Grill to discuss XXX project"
Post-visit:
Thank. Thank the prospect for meeting. Hand notes are highly recommended and well received.
Notes. Document important discussions, learned information about the prospect, questions asked and follow up from the prospect visit. Track these in your CRM.
Follow up. Set deadlines and assign others if necessary any post-visit follow up that was determined in the
Identify next step(s). Always have a next step to keep the prospect engaged.
By preparing well for your prospect visit you are making the right ask. And remember, the answer is always "no" if you never ask!
