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