Regardless of how much data an organization stores, proper utilization is necessary for pursuing data-driven strategies for fundraising, outreach and other functions. One of the best ways to ensure data is correctly utilized is to use Salesforce data integration tools or utilities included in Salesforce Blackbaud integration software to ensure that data is accessible and of maximum utility.
Will the Data Collected Lead to More Funding?
One helpful basic utilization check nonprofits can do pertains to use value. Not every piece of data about a donor is pertinent for fundraising, though many points can be useful for targeting. An organization should develop a data strategy for nonprofits by reviewing which types of information about constituents are available as well as ways to use data to raise more funds.
Data health or quality is another utilization check a nonprofit can perform. Segment records for frequent or generous donors and review data points from contact and donation records to any additional information about engagement. Any discrepancies that become apparent during this process may be resolved with the right choice of integration software.
Will the Data Help Assess Progress or Failure?
Fundraising and engagement data can be valuable information for assessing the progress an organization has made toward its goals and overarching mission. Isolated data points are valuable to the fundraisers who are tasked with contacting constituents, but aggregate data can paint a bigger picture for nonprofit stakeholders.
Determining the key performance indicators of a nonprofit calls for collaboration between staff and supporters. Donors give to an organization to advance a mission, and their perception that their money is going to a good cause is most apparent in increasing donation amounts, giving frequency and in higher fundraising totals. These important data points may require integrating a CRM with fundraising software if you use a platform that does not include this functionality.
Will the Data Provide Actionable Insights?
Data analytics for nonprofits prioritize information that can be acted upon, whether in an upcoming fundraising campaign or steps taken toward achieving the short-term objectives of an organization. An organization should focus on maintaining and storing the type of data that illustrates trends over time for use in quarterly, yearly and multi-year strategies.
The type of data that can provide insights may require an organization to offer supporters interactive opportunities via an email subscription list, social media or other online platforms. For instance, asking supporters about their specific areas of interest allows an organization to target donor communication and outreach and emphasize these topics in giving requests. It is then important to keep track of this additional information in CRM databases in a standardized way that supports segmentation.
A nonprofit that prioritizes proper utilization of data may find any corrective measures taken lead to increased funding, clearer signposts of progress toward the short-term objectives or long-term mission of an organization and other insights on which to act. Periodically checking the completeness and quality of sample records and using utilities that improve data health can go a long way toward making good data ready for utilization.