From Suspect to Prospect to Closing the Deal

Planned Giving DaysMay 29, 2014

Robert LyonHilary K. Barbour

Part I: From Suspect to Prospect…

Robert LyonDevelopment Research Specialist

Part I Outline: ResearchResearch Team and Role in Your Work?

Research Identification

Prospect Research

Examples

Prospect Management

Research Team Overview Prospect Development:

Prospect Identification

Prospect Research

Prospect Management

Strategic PartnershipsIntegrating the ‘Research’ Function Across

‘Development.’

Connecting the Dots Between Development Teams

Research IdentificationProject Management

Collaboration with Stakeholders

Taking Advantage of Systems

Achieving End-Results

Research IdentificationPre-Process Planning:

• A goal is a broad primary outcome.

• An objective is a measurable step you take to achieve a strategy.

• A strategy is the approach you take to achieve a goal.

• A tactic is a tool you use in pursuing an objective associated with a strategy.

Research IdentificationCreating a List of Suspects:

Analyzing and Prioritizing

Pay-for-Service Research Tools

Data Management

Prospect ResearchUsing Tools to Find Out Who the Suspect is

Evaluating Capacity and Interest

Validating Information/Data

Providing Analysis

Examples of Research Products

Most-Basic ResearchDiana Prince, account # 123456789, assigned to

WWF staff Clark Kent.Ms. Prince is 73 years old.She has made planned gifts to a large national

conservation group and to a specialized rain forest conservation group. Estimated value of property at 109 Themyscira Street, Paradise Island, FL, 33123, is $10,000,000 (Zillow.com).

Donor to WWF since 1982, 36 gifts, $2,790 total.WealthEngine estimated gift capacity range: $1,000,000-$4,999,999.

Prospect ResearchCase Studies:

Information From the Donor:InterestCapacity

Quotes from donor discovery callsExample 1He is a single, software engineer. He supports WWF

because he has the money and likes the cause.

He just got home from a vacation in Australia an hour ago so wanted to keep the call brief. He started supporting WWF 40 years ago in the UK because he saw an article in a magazine.

He supports WWF because he is interested in habitat conservation. WWF is the only ecological organization he supports.

Example 2

Mrs. xxx and her husband are retired and used to work in DC. She ran a public policy department for a telephone company and he was an attorney. She is 66 years old. They have no children.

They have been to Africa a few times; South Africa, Tanzania and most recently Botswana. She and her husband love big cats. They would like to see snow leopards in the wild but are considering Arctic travel first.

Other than WWF, they also give to the animal sanctuary in Colorado. She would not ever consider giving stock to an organization. She said that the value fluctuates too much.

Example 3Mrs. xxxx said she and her husband have been lucky. She

said, "We have a ton of money. I mean a TON of money."

They don't have any children but they have two Siamese cats and a cockatiel named Lawrence. They also contribute to the Dumb Friends League, a local rescue center for cats.

Her husband is not as interested in WWF as she but supports her buying plushes as bed pets. They will continue to support WWF like they started doing a long time ago.

Prospect Management

Assignments

Pipeline Stages

Ultimate Dispensation

Tracking/Metrics

Now let’s talk prospects...

Part II: From Prospect to Closing the Deal…

May 29, 2014Hilary K. Barbour

Prospects can come from…Universe of where prospects come from:

Direct mailQualification consulting firmWebsiteResearch

Not a prospect

Qualification OutlineQualification process (Flowchart)

Examination of Moves Management steps

Summary of “deeper conversation” phrases

Prospect examples

What you need to know about the qualification process

Qualification Overview

From Prospect to Closure

Process 

Moves Management StepsSteps 1 and 2 (one – three days):

Handling Inquiries/Deeper Conversations

Two types of inquiries

Getting on the phone with the prospect Purpose of call Build rapport with prospect Deeper conversation questions

Moves Management StepsStep 3: Custom Proposals

Getting StartedBequest language and general PG

informationUpdating their willAlternate ways to give

Moves Management StepsStep 4: Proposal Follow-up/Deeper Conversation

(Two – three weeks)Call to confirm they have received the materials

Ask if they found the information useful and did it help them move forward in their process?

What remaining questions did they have and how can we help them in their next step?

Mention recognition society

Moves Management StepsSteps 5 and 6: Closing the Deal

(One – three months/Six – nine months)

Three possible outcomes:They have or will be making the gift. They need more time, “Please call me in the

six months…”They will never make a gift.

Deeper Conversation PhrasesQuestions designed to determine where the prospect is in their estate planning process:

Are you considering a gift to WWF through your estate plan?

Are you working with an estate planning attorney?

Do you have a will?Where are you in your estate planning

process (give example)Are you familiar with CGAs? Do you need

income?

What to listen for…I am revising my trust and would like the estate

planning materials…I feel very lucky and want to give back…I want to do something with my large portfolio…I’d like to learn more about how I can give during

my lifetime…How else can I help?Send me some materials and I will send you a

check…We have a ton of money. I mean a TON of

money…

Prospect ExamplesExample 1: Ms. Smith

1st call: After a deeper conversation, Ms. Smith said she was interested including WWF as a beneficiary of her IRA and CDs. Sent her beneficiary information as well as the alternate ways to give.

2nd call: Ms. Smith said that she was still interested in including WWF as a beneficiary and was waiting to receive the paperwork. I mentioned that once she had completed her plan to please let us know so that we can welcome her to our recognition society.

3rd call: Three months later, Ms. Smith called to let us know that she has included us as a beneficiary of her IRA and CD. I thanked her on behalf of the entire organization and took the opportunity to welcome her to our recognition society citing some of the benefits I thought she would enjoy.

Stewardship strategy: Invite her to WWF events Arrange a visit while in her area.

Prospect ExamplesExample 2: Mrs. Brown

1st call: Called to set up visit

Visit: Asked what prompted her to increase her giving. She said that it was an IRA distribution rollover and one she’d like to do every year. (Good to know! ) Had a career in the financial industry so very familiar with life income gifts. We learned that she has a gift annuity with her alma mater, but is not happy with them. Is interested in a gift annuity with WWF.

Visit follow-up: Sent gift annuity proposal and mentioned that we would let her know about any changes in the IRA roll-over regulations. Also sent travel brochure.

Closure strategy: Called Mrs. Brown to inquire about her continued interest in a gift annuity.

She said she was ready to go and sent it in. Collaborating with annual giving team on the IRA rollover gift.

What you need to know about the qualification process

Qualifying prospects is primarily a numbers game. Often times the conversation will go nowhere or the

donor will not want to engage in conversation.

Building rapport takes at least one to two phone calls.

If you’ve had three phone calls with a donor and they still do not plan to make a gift, it’s time to move on.

This work will take time to gain traction. Does not happen overnight. Be patient, the good conversations will come!

Questions??