5 Ways Data Can Enhance Your Donor-Focused Fundraising
5. Benchmark peers and evaluate best practices
Industry-level data helps organizations understand their fundraising efforts in the context of their peers and the greater fundraising landscape. Benchmarking, in particular, adds a crucial level of perspective to internal understanding of fundraising effectiveness by providing information about the fundraising histories of peer organizations. Key benchmarking data points may include: solicitation techniques, cultivation strategies, online and marketing strategies, and campaign goals and results. It is important to allocate time for benchmarking and best-practices research because these projects allow for comparisons that isolate and identify particularly effective or ineffective strategies, saving valuable internal resources in the long term.
Make connections for success. Every development office has limited staff and time. Given these limits, fundraisers cannot afford to waste precious time and resources on strategies that are not backed up by data. A strong data framework allows an organization to make the most of a donor-focused fundraising strategy to build and sustain vibrant, long-term, fruitful relationships across a thriving and committed donor base.
Rebecca Huenink is a grants consultant at Hanover Research. Her career has focused on helping public benefit organizations succeed. She has more than a dozen years of experience in the development arena, providing fundraising and strategic support to a wide variety of large and small organizations. Rebecca’s fundraising expertise focuses on donor stewardship and cultivation, annual campaigns, capital campaigns, board development and training, reaching younger donors, and donor-focused fundraising strategy. She particularly enjoys helping organizations leverage the resources they already have to drive an increase in fundraising revenue.