Moves management is a useful fundraising model that can be utilized to identify, cultivate, and steward major donors. Consider these three strategies that effectively use moves management increase donations and maintain strong relationships with major donors.
For decades, the business world has utilized a reliable model for attracting and securing deals: the sales funnel. This model allows businesses to capture and retain customers as well as maintain steady revenue. Nonprofits can apply this effective model to their moves management process to increase donations and cultivate donor relationships, but should keep in mind three important differences.
Let’s talk about data analysis and how it affects the bottom line at your nonprofit. Of course, there are many data that you can analyze, so let’s look at it from the perspective of identifying your top donors. If you’re using prospect management software, you may be thinking, “I’ve got all this information, but what should I focus on?”
What really matters when it comes to pinpointing your major donors are three factors: how recently they’ve donated to your organization, how frequently they’ve given to your nonprofit, and how much they can donate to your cause.
The adage “a place for everything and everything in its place” may be centuries old, but it still rings as true today as it did back then. Keeping things tidy both physically and digitally helps a business run more smoothly. Although, these days, we don’t use a kitschy turn of phrase when referring to a well-organized business, we simply say that a business or digital entity is “optimized,” and it’s something your organization should aspire to achieve.
An optimized donor database operates simply and efficiently to capitalize on fundraising potential. It gives you a big picture look about your organization’s donors on one page: their giving history, event attendance, relationships, and more. Using an optimized donor database can improve donor retention, increase prospect conversions, increase productivity, save money, and simplify onboarding.
Investing in understanding what motivates a high-value constituent pays long-term dividends.
Nonprofits appreciate donations of any size. But it’s fundraising from major donors that makes it possible for effective change. And finding and maintaining their contributions requires a different approach.
Profiles of your constituents paired with social platforms are powerful tools
Better relationships with donors begin with understanding what motivates them. It’s the main reason successful nonprofit organizations use and maintain donor profiles.
The success of your nonprofit organization depends on the generosity of donors. They are your most important assets. How much do you know about these people, both as individuals and as groups?
Data visualization is all about using collected data to build relationships with your donors, and it starts with understanding their behavior. Do you know where your constituents hang out on weekends? Do you know if they have children? Can you name where they went to high school?
Even if you’re unfamiliar with the term “Generation Z,” you’re probably highly familiar with its ambitious, screen-obsessed members, who largely haven’t yet entered their twenties and are already making history.
Did you know that nonprofits spend 2-3 times more recruiting a new donor than for-profit companies spend to attract new customers? Also, did you know that acquiring that new donor costs about five times more than maintaining an existing donor relationship? Given the simple math, savvy nonprofits do everything possible to build long-term relationships with their supporters and donors. This begins with capturing as much information about each donor as possible, and then consolidating and presenting this information in a useful way. This is the baseline requirement for any constituent relationship management system.