How To Find More Money In Your Database
Cultivating positive donor relationships matter. Here are a few tips to get more donations out of your current lists. The post How to find more money in your database appeared first on Keela.
Imagine being able to raise more money than you did last year – without getting any new contacts. It’s definitely not the best model for a growth-minded nonprofit. But, it IS possible to find money hiding within your own database. You just need to know where to look.
Part of being smart with your datais knowing how to find value where others might not. For example, if you hold an annual event, and notice that there are several people who have donated in the past, but have not donated this year – there are a ton of things that you can do instead of just giving up on them:
1. Create a list
When you create a list of the individuals who have not given in that year and keep track of them, you now have an audience that you can create a special appeal for. Plus, it just keeps things nice and neat.
2. Use what you know
If you are keeping track of your contacts within a CRM , you should be able to collect a lot of valuable data – apart from their contact information. You know when individuals have donated, you know what cause they donated to, you know what events they’ve attended. When you read between the lines, you’re able to get a pretty good idea of the profile of these individuals. You know tons about them, and you can start piecing together a message that would resonatewith them – AND a bunch of people who are similar to that individual in behaviour.
Part of being smart with your data is knowing how to find value where others might not.
3. Create a custom appeal
Now that you know who you are targeting, and did some detective work to craft a message that will resonate with this profile – it’s time to send out a special appeal just for them. Use the message you just put together and include it in a new email campaign. Reach out to these donors with an ask that resonates well with their past giving history. If they donated to a fund that helps children in the past – talk about how they can support children with a new gift. Speak directly to them, and communicate the impact they can make if they give again.
4. Fundraise better by identifying opportunities for bigger gifts
Creating market segments is great for reigniting the fire of lapsed donors – but it is also a great way of identifying individuals who have potential to give bigger gifts! Take a deep look into your data and look for a few things:
- Who has been increasing their gifts year over year?
- Which contacts have given a big amount in the past but suddenly stopped?
- Who donated a large amount in the past, but significantly lowered their gift year over year?
By taking a look at these groups, you can start to craft messaging or even pick up the phone to find out how you can better cultivate these donor relationships, to ensure they are happy with the impact and reporting you are providing.
And the best part? Absolutely ALL of that can be done with the contacts that you already have.
You can level up your own fundraising efforts using Keela: