Thursday, July 25, 2013

Is Your Strategy Set In A Donor Retention Silo?

If you have never increased donor retention it is easy to believe that it is a magic number of steps, more
targeted communication, asking for a gift within 90 days after the first ask or simply being donor centered. The fact is that these barely scratch the surface of what is truly required to have any significant impact on increasing retention or donor lifetime value.

Donors rarely interact with just one division or department of a nonprofit organization. Just like the rest of us when we’re walking through the grocery store we rarely shop in just one aisle. Because of this it is no longer possible to dramatically impact donor retention with knowledge that only lives in the silo of the fund-raising  or communications department. In order to fully customize and design the donor experience one must have a cross organizational view. In addition to all the data we keep internally we're all well aware of the vast amounts of unstructured data that is being produced daily outside the walls of our organization.

It will no longer be enough for organizations to build stewardship models that are limited by the 360 view in the development office. The only way to be successful in today's market and with today's
donors is to have a cross organizational view that is always current.

Data scientists will have to clear the way for a new breed of data artists. The ability to see our donors within the entire landscape of our organization, understand their networked world and connect these pieces in order to grow the relationship with our organization's mission will be the new masterpiece required of every nonprofit. This will be the ONLY way to truly maximize lifetime value of a donor’s relationship.

If you are interested in learning about new dashboards that capture data in ways never before possible click HERE

No comments:

Post a Comment