Use alumni organizations to win prospects

Alumni associations offer a great opportunity to get close to high-net-worth prospects. A British technology firm mapping connections among senior executives explains: “When investment bankers cultivate prospects the initial contact is usually made though the university connection.”

School is close by

You’re in luck if your school is local. To support fundraising initiatives schools hold alumni days and class reunions. These events provide you with an opportunity to socialize and possibly transition to a business relationship.

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Schools have alumni magazines in print and online, and they usually include business card ads. This is a good opportunity to get your name on the radar of potential clients.

College fundraising is often structured around “giving clubs.” Give $100 annually and you get invited to a range of activities. Step up to the $1,000 level and you’re invited to the school president’s house for cocktail parties and cruises on the river. This is where you can really make your mark.

School is far away

Graduates are spread across the globe. The school keeps them close by establishing local alumni clubs, often meeting quarterly for a mid-week lunch at a good restaurant. Who attends mid-week lunches? Business owners, retirees and professionals who set their own schedules.

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These lunches usually feature speakers. Do you have an educational seminar you can offer? Do it well and word will get around. Other clubs may invite you to speak.

Fundraising includes planned giving. If you can address charitable gift annuities, life insurance trusts or charitable remainder trusts, the school might take the initiative in finding you additional audiences.

There’s no club

If this is the case, start one yourself. The alumni directory has contact information for local graduates. Send out letters and e-mails to gauge interest. Plan a kickoff event.

This gives you have a legitimate reason to contact local alumni who have made it big. It’s likely they would take your call and agree to meet. Make sure they attend events even if you must drive.

Get in touch with them afterwards to solicit feedback. Now you’ve developed a relationship around a common interest.

As the organizer you’re the gatekeeper. You set agendas, publicize events and invite speakers. Later on you can transition out of this role.

What not to do

Your school produces an alumni directory, in print or online. It has warnings that it can’t be used for commercial or political purposes – no mailings or cold calling. If you break the rules, word will get out and you’ll be shut down.

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Don’t directly solicit business when you attend events – you’ll become a pariah. As you meet people, learn who they are, what they do, and where they work. Communicate who you are, what you do, and why you’re good at it.

Avoid the “younger alumni” groups. You want to mingle with successful people of all ages.

A New York advisor I know wanted to offer a series of seminars on topics of interest to fellow graduates. The seminars were only offered to alumni from his school. He asked the alumni association if he could use the alumni logo on the invitations. They allowed it and his seminar became an approved school activity.