One of the best ways to set yourself up for a strong fundraising year is to get your data in order. Here we’ll focus on three fundraising data related items that will have a serious impact on the success of your efforts:
Your data is trapped in a silo.
A singular database that contains all necessary information is your best asset, and not without reason. Launching campaigns with very specific goals, like recapturing lapsed donors or increasing gifts from donors with a 3 year history of giving, can’t be done if the proper information can’t be leveraged. In this scenario, time best spent on strategy and messaging will go toward hunting down and aggregating lists, renumbering identification numbers or codes, or searching for information to fill big gaps in your donor profiles.
Your data has no real champion.
Your organization isn’t properly valuing data.
Significant resources are allocated toward appeals. Print, mail, email and other forms of online fundraising are big investments. If you were spending that much time and money on something, wouldn’t you want to know the impact of your plans on donors and their respective behavior? Are your efforts increasing acquisition of first time gifts? Is retention up or down? Have you recaptured past donors? What’s the lifetime value of your donor-base? The answers to these questions paint a very honest picture of your fundraising efforts and your success beyond dollars raised. These questions can’t be answered without good, clean data.
So how will you be spending your summer? Let us know!
You Might Also Enjoy:
+ Before You Make the Ask: Know and Apply Your Data!
+ The 4 Foundational Elements of a Fundraising Program You Can’t Overlook
+ Actionable Analytics: The Next Frontier
Like what you see? Stay in touch!