Relationship Mapping Technology (RMT) in Prospect Research
For the past few years, there has been a steadily increasing interest in relationship maps. W ithin the field of prospect research, we are often asked about a donor's connections to others or what the best path might be from our institution to a particular donor, corporation, or foundation.
While many vendors have developed technology to assist with asset evaluation, there has not been the same usage of a comprehensive tool to unearth these connections. Although we have tools like ZoomInfo or WealthEngine's Circle of Friends (and of course Google picks up a number of board affiliations), these sources are often hard to navigate and very time consuming. However, through visual representation of the right data, development professionals are able to see and understand these relationships at-a-glance.
Criteria in Effective RMT
Through a practical review of relationship mapping tools available today, I believe that to be truly effective for the prospect researcher’s needs, all mapping tools MUST have the following characteristics:
- The data must be good and plentiful. Any tool is only as good as the data from which it draws. Assuming the data’s quality is the same, a beautiful interface with 500 records never trumps a mediocre interface with 10,000 records.
- The visual representation of the data must be flexible enough to re-arrange, organize, and easily manipulate the data. If you can’t see the data you need or it’s organized in a confusing fashion, you might as well go back to lists.
- Your data must be able to be uploaded and connected with the data currently in the mapping software. If you can’t make the connections to the “outside” universe of data, then buy Microsoft Visio and map your database.* One of the primary values in RMT comes from seeing how your boards/trustees/donors are connected to the prospects you want to meet.
*I do not wish to lessen the value of mapping one’s own data. Especially when dealing with databases over 10,000 records, connections are missed and creating a graphic representation of your own data can often be enlightening. However, for this site, I am much more concerned with data from the “outside world” and how it allows us to strengthen our development officers when they are out doing discovery and finding natural partners as well as uncovering new prospects quickly and accurately using intuitive mapping functionality.
Why is Relationship Mapping a "Revolution in Prospect Research?"
In development, the four elements of a successful ask are:
1. The right project (look at past giving)
2. The right amount (do an asset evaluation)
3. The right time (use push technology)
4. The right person (?)
Prospect research must support development officers in all four of these elements but until now, robust technology has only existed for the first three (think NOZA, WealthEngine, and HEP Development).
To get the right person, we have largely relied on peer screenings, referrals, and other non-technological solutions.
Enter Relationship Mapping Technology
By visually mapping relationships between individuals, organizations, companies, and universities, prospect researchers are much more likely to uncover hidden relationships
In addition to saving hours of time spent researching these connections and helping development officers to know who is the warmest connection to a prospect, RMT provides at-a-glance professional presentations of multiple networks for executives.
7 Relationship Mapping Solutions Reviewed
I reviewed seven different solutions with various features and levels of functionality. All reviews are from the non-profit prospect researcher's perspective.