How many times have your donors had the thought: "Is my donation being used efficiently?"
Many nonprofits are storing and analyzing data to improve their own logistics and gain access to a greater number of potential donors right away. By turning to data to make the process of managing fundraising activities and making them more effective, nonprofits are able to become more effective fundraisers and be more transparent with their donation revenue than ever before.
Nonprofits are turning to all the data stored in donor databases, interactions with blog posts, social media posts, and in the array of places where data is being collected on donors. All this data offers a treasure trove of valuable insights for nonprofits to make better informed fundraising decisions.
Nonprofits today are talking about when and how to tap into this data and what to do with it. They know if they can collect, parse, sort, analyze, and manipulate the data and put it to use, their effectiveness will skyrocket. By leveraging analytics tools and solutions to analyze the wealth of donor information, nonprofits can gain powerful insights into their donors’ behaviors and needs.
See how your nonprofit can immediately benefit from better leveraging its data.1. Improve retention strategies
- Through analyzing harnessed and organized donor data, nonprofits can develop a more robust retention and reactivation strategy. This helps in generating more donations from donors who have already interactied and given to your nonprofit, which is conventionally accepted as easier than trying to generate more donations through new accounts.
- Aside from human capital, typically, the biggest spend for most nonprofits is in marketing and advertising. By looking at your nonprofit's history of marketing campaigns, and the tendencies when advertising towards specific demographics, you can leverage that data to make better, more powerful, more effective marketing offers to your potential donors, thus increasing your chance of success. Whether you're a large nonprofit with a $1MM marketing spend, or just starting out with a $1,000 spend, ensuring every dollar is well spent is essential.
3. Improve your brand experience
Your credibility is your brand. And your brand is on the line with every single donor interaction. If the majority of your donations are made over the telephone, data can help your nonprofit ensure that that donor who just had a positive donation experience always speaks with the same telephone operator. If you know that your donor database is on a mobile device, ensure that your website is mobile-responsive. Knowing the 'how' and 'why' a donor just gave to your nonprofit is essential, but it's only after you've analyzed and implemented that information that you can raise more funds through better tracking of donor data.
The next step after gathering data is to make sure it's
safe - get started with data management
services and cloud-based backups for nonprofits: