The most important decisions your organization can make depend on thorough and thoughtful analysis of your supporter data. Inside your database lies a treasure trove of information beyond just what you see at first glance. Only with analytics can you tap into that knowledge for actionable insights.
Here are six ways that analytics can provide significant benefits to your nonprofit organization this year.
Define Better Target Audiences
Find new donors who resemble your best donors. Fundraising analytics enable you to create customized donor profiles to improve your prospecting efforts.
Improve Prospect Identification
It’s imperative that you identify potential major gift donors early in the relationship with your organization. Analytics enable you to focus your efforts on these valuable supporters.
Receive Higher Contributions
According to Target Analytics® research, the average nonprofit is missing out on $3,781,461 in untapped giving potential. Only with analytics can you assign appropriate target ask amounts for each of your donors on file. Fundraising analytics can also be used to assess donor potential in terms of real dollars, helping you prioritize your cultivation efforts on giving potential, not just giving history.
Increase Response Rates
Knowing which supporters are most likely to respond to different campaigns allows you to segment your database more effectively, thereby enabling you to send more relevant communications and optimize marketing channels.
Reduce Mailing and Print Costs
Avoid unanswered communications and wasted postage and printing by first determining which donors are unlikely to respond to a campaign. The combined savings can be thousands of dollars per campaign, if not more. And it’s much better for the environment!
Improve Supporter Engagement
Proper care of your data enables you to create long-term, loyal supporters. By better understanding your supporters’ interests, behaviors, and communication preferences, you can develop more powerful communications and cultivation strategies.
Define better target audiences, increase campaign response rates, and improve supporter engagement with robust analytics and deeper insight from AccuData.
Find out what we can do for your organization. Schedule a consultation today!