Retaining current donors, re-acquiring lapsed donors, and acquiring new donors is the name of the game in annual giving. The challenge is that the messaging and approaches that work best with one group are often very different from what will work well with another group. The key is to identify each donor’s primary interest area and then deliver messages that connect. Do this and prospects are much more likely to give. Push something else at them and they are far less likely to respond.
Unfortunately, most fundraisers blanket their prospects with a myriad of messages delivered through a variety of media with very little focus. And, given the sheer volume of appeals, untangling what worked and what didn’t can often be a challenging process. Figuring this out involves accessing large amounts of data, often from different systems, and then scouring it, slicing and dicing it in different ways, to find patterns and trends and to get answers to key questions:
- Which appeals and messaging worked best to retain current donors? To re-acquire lapsed donors? To acquire new donors?
- What do our trends for retention, re-acquisition, and acquisition look like?
- Which events and activities are most effective?
- Can we use things like newsletter click-throughs to determine our prospects' areas of interest?
- What are the characteristics of people who have responded with, say, $500+ gifts to our appeals? Who else has the same characteristics?
- Who are the non-donors? Where are they? In what class? Rated vs. non-rated? Come to events or reunions? What else do we know about them? How can we best appeal to them?
ADVIZOR can help! An Annual Giving solution makes the pertinent data available in an easy-to-use interface that allows you to easily slice and dice it across a variety of categories, all the while keeping your eyes on what worked and what didn't. Patterns are easily identified and can be altered with our predictive analytics integrated right in the software. Your prospect list can be "scored" to find donors who have high probability of positive response to a particular type of appeal and messaging can then be tailored accordingly. The benefits to this marketing approach are significant:
- Increased retention, acquisition, and re-acquisition rates
- Improved yields from under 2% to over 7% on more focused appeals
- Avoid “harassing” key donors with too many unwanted/less relevant messages
- Identify new high potential targets for specific appeals
- A more collaborative and integrated marketing team centered around half a dozen "message segments"