The Perfect Recipe for Donor Prospect List Segmentation
5. Add the secret sauce: Co-op models are a must-have. Participating in a nonprofit data co-op not only provides access to modeled prospect lists of donors who most resemble contributors already in your file, but also does so at a fraction of the cost of traditional outside list sources. These donors tend to have healthier response rates, larger average gifts, far greater long-term value and stay active longer when compared to donors acquired trough traditional outside lists.
Don't limit yourself to just one co-op. Join as many as you reasonably can. No two co-ops create the exact same models, so test a variety.
6. Add a dash of testing, another must-have! Every recipe ingredient should contain a test of some sort. Test new house sources, test new outside lists and test new segments, but don't expose your recipe to more than 20 percent of your total estimated mail quantity to prevent exposing yourself to too much risk.
7. Put the mixture in the oven and bake for approximately three weeks. Pull the finished mailing out of the oven, and enjoy all the new donors you have brought on board.
3 recipe takeaways:
- Be sure to segment the right amount of ingredients.
- Never omit any step when going through the testing process.
- Be sure to use enough secret sauce when prospecting. Never omit the secret sauce.