Is fundraising more of an art or a science?
It’s a question that’s been debated for a long time. For example, when a donor’s behavior shifts from giving to your annual fund to something much bigger. Instead of picking up on a slight change in behavior, moving them into it or having them tell you, how would your strategy change if you knew the exact moment it was going to happen?
Analytics can help do that for you.
A religious organization recently increased their commitment to donor analytics. In doing so, they noticed that when longtime donors who had primarily given in smaller amounts stopped giving, it wasn’t necessarily a sign that they were withdrawing their support altogether. On the contrary, it was a good indicator they were prepared to make a bequest.
By turning their attention to people who fit that specific profile, they were able to come up with over 30,000 new prospects they could create specialized communications for.
In 2017 alone, that resulted in $11.5 million in bequests.
The point is that the behavior of your donors likely might not mirror those exactly. But you’re very likely to approximate similar results by emphasizing analytics.
When did you last take a look at your donors who stopped giving at lower levels? This is one of many ways you can uncover more giving potential.
Do you have any other tips you could share with us?