One way that you can take your fundraising further is by using data.
The main premise here is that data is invaluable. The proper collection and analysis of data yields very important pieces of information that will undoubtedly help you make the best possible decisions by allowing you to allocate your resources where they are needed most and where they have the greatest impact. And an added bonus of this is that you are able to save your resources for ventures that give you the best results.
A chapter in our book, “Brick by Brick”, delves into the importance of data gathering and the dangers of working with faulty data by using history as a prime example. The book contains some accolades of espionage and deception during World War II and how information (and misinformation) allowed the Allies to mitigate their losses as the free men of the world united to overthrow the tyranny of the Third Reich.
When it comes to data, organization is absolutely necessary. The more data that you can analyze, the deeper you can segment, and the closer you can get to reaching each donor’s specific needs. You are then able to create a very personalized experience for your case where you can speak directly to your donor’s interests.
The power of segmentation is incredible. It keeps your content relevant. It keeps your emails from being marked as spam because they’re so relevant. Your metrics skyrocket because you’re reaching the specific audience for whom the call to action is intended. And it builds loyalty. Your audience is able to self-identify because they can see that the information is truly meant for them. They can relate to the information because it matches their donor profile and because from their perspective, the information is something that is of relevance to them.
When using a donor management system, you’ll be able to collect and centralize your data. This data includes email addresses, seating preferences, interests, split-testing results, and content reactions. This data is invaluable to your organization because you can use it for segmentation.
Within your donor management system, you’ll find that you’re able to collect an immense amount of information regarding your community members and their preferences. This data helps you when it comes to making decisions that create better relationships with your community, optimize the work that you do, and save you time and money.
Tune in as Zach Shefska speaks about how to dig deep into your data in order to improve your fundraising and decisions.
About Zach Shefska
Zach Shefska is part of the team at MarketSmart, which develops scalable, profitable and valuable solutions for nonprofit organizations, like the Human Rights Watch, The Smithsonian Institute, and the University of California Los Angeles.
In addition to providing services directly to nonprofits he oversees the Fundraising Report Card, a division of MarketSmart. The Fundraising Report Card is a free tool that empowers fundraisers to make data-driven fundraising decisions.