You’ve been told over and over the more information you have on your donors, the better.
Well, according to a recent study conducted by Blackbaud and nfpSynergy of 338 nonprofit organizations in the United Kingdom, many nonprofits are “drowning in data” and are unable to fully utilize all the data they’ve collected with their CRM.Of those 388 nonprofits who were polled, 70% of the responders felt they were not able to fully utilize the data the had available to them.
Here are 3 strategies to help you utilize data collected about your donors since implementing your CRM.
Take a step back
Take a step back from your nonprofit and observe it from an outsider’s perspective. At first glance what would a third party viewer determine as important data? Does that data tell you about a large or a small portion of your donor population?
Sometimes solving your data driven problems is as simple as taking a step back, taking a deep breath, and tackling a problem from a different direction.
Bite size chunks are more digestible
Break your data up into smaller, digestible chunks of data to help you get a stronger grasp on your data. Instead of looking at how many donors were male over the last year, look at how many donors were male and donated over $100. Instead of looking at the last year, look at just the last month or two.
Have a plan going in
Collecting data on donors for the sake of collecting data never got anyone anywhere. Before going on a binge data collection spree make sure that you have an end goal in sight and a measurable goal to be working towards. Being able to hold a measuring stick up to track progress, is key to success when dealing with metrics like donor data.
Ultimately, it’s important to know what purpose your data serves and what it will accomplish before even thinking about collecting it.
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