From Suspect to Prospect to Closing the Deal

1. From Suspect to Prospect to Closing the Deal Planned Giving Days May 29, 2014 Robert Lyon Hilary K. Barbour

2. Part I: From Suspect to Prospect… Robert Lyon Development Research Specialist

3. Part I Outline: Research • Research Team and Role in Your Work? • Research Identification • Prospect Research • Examples • Prospect Management

4. Research Team Overview Prospect Development: • Prospect Identification • Prospect Research • Prospect Management

5. Strategic Partnerships • Integrating the ‘Research’ Function Across ‘Development.’ • Connecting the Dots Between Development Teams

6. Research Identification • Project Management • Collaboration with Stakeholders • Taking Advantage of Systems • Achieving End-Results

7. Research Identification Pre-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.

8. Research Identification Creating a List of Suspects: • Analyzing and Prioritizing • Pay-for-Service Research Tools • Data Management

9. Prospect Research • Using Tools to Find Out Who the Suspect is • Evaluating Capacity and Interest • Validating Information/Data • Providing Analysis • Examples of Research Products

10. Most-Basic Research • Diana 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 ThemysciraStreet, Paradise Island, FL, 33123, is $10,000,000 (Zillow.com). • Donor to WWF since 1982, 36 gifts, $2,790 total. • WealthEngineestimated gift capacity range: $1,000,000-$4,999,999.

11. Prospect Research Case Studies: • Information From the Donor: • Interest • Capacity

12. Quotes from donor discovery calls Example 1 • He 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.

13. 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.

14. Example 3 • Mrs. 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.

15. Prospect Management • Assignments • Pipeline Stages • Ultimate Dispensation • Tracking/Metrics

16. Now let’s talk prospects...

17. Part II: From Prospect to Closing the Deal… May 29, 2014 Hilary K. Barbour

18. Prospects can come from… Universe of where prospects come from: • Direct mail • Qualification consulting firm • Website • Research

19. Not a prospect 

20. Qualification Outline • Qualification process (Flowchart) • Examination of Moves Management steps • Summary of “deeper conversation” phrases • Prospect examples • What you need to know about the qualification process

21. Qualification Overview From Prospect to Closure Process

22. Moves Management Steps Steps 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

23. Moves Management Steps Step 3: Custom Proposals • Getting Started • Bequest language and general PG information • Updating their will • Alternate ways to give

24. Moves Management Steps Step 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

25. Moves Management Steps Steps 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.

26. Deeper Conversation Phrases Questions 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?

27. 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…

28. Prospect Examples Example 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.

29. Prospect Examples Example 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.

30. 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!

31. Questions??